NEWS & ADVICE : HOME LOANS
Lower rates, timely payment of EMIs attributes sharp off take in Home Loan
By Joseph Samson
Nov 19, 2012
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The first two quarter figures showed that the total outstanding of home loan almost reached 96 per cent for 2011-2012 figures. The non-performing assets (NPAs) have also declined in all the home loan categories.

The figures were compiled by the Finance Ministry for the review meeting which was chaired by Mr. P Chidambaram, for the performance review of the public sector banks. A senior bank official said that reduction in the interest rate and timely payment of EMIs boosted increase in the home loan portfolio.

After the review meeting, Finance Minister also said that auto loan had also registered a sharp off take in the first two quarters.

Among all the categories, most of the loans were given in the Rs 10-25 lakh category. And category of loans up to Rs 2 lakh in terms of NPAs contributed the most. Bank Officials said that now the bank will cater more on personal contact with borrowers.

Mr. R K Dubey, Executive-Director of Central Bank of India said, "Bank Mangers have been asked to reach every borrower to see how loan outstandings can be settled. It can be done either through one-time settled or extended tenure".


 


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