The country's largest lender, State Bank of India organized ‘SBI Home Fair 2009' between July 17 and 19 at Mayor Ramanathan Chettiar Centre.
The lender will offer borrowers various concessions on home loans like add-on insurance cover, concessional lending rates, wavier of processing fees; etc. At the same time, the bank will also issue ‘in-principle sanction letters' to prospective borrowers.
Presently, SBI has a home loan portfolio of at least Rs56,000 crore. Nearly 75 percent of its loan book comprises of loans of up to Rs 20 lakh.
Recently, the bank launched special home loan scheme under which it offered home loan at competitive rate of 8 percent.
During last fiscal the home loan portfolio of the bank grew by 21 percent.
Expecting an increase in demand, the bank has raised its overall target for home loans segment to Rs 30,000 crore, which is a 30 percent increase for current financial year.
Currently, the player has 18 to 20 percent market share in house loans.