State Bank of India largest country lender has set a strong target of give out Rs 250 crore of home loans every day but at the time of festival season the figure came out to 200 crore.
After it stopped the processing fee, late September as part of its festive offering, the bank disbursing close to Rs 200 crore home loans every day.
“Home loan disbursement is perking up each day, before it was 130 crore in the beginning when discard the processing fee, it moved up to Rs 150 crore and then Rs 175 crore and now fixed to Rs 188 crore, Furthermore, my aim is Rs 250 crore a day,”managing director for national banking and group executive B Sriram.
The home loan sanctions stood at Rs 20,032 crore against Rs 18,500 crore in the past.
Considering in percentage terms, the expansion is 14-15 per cent year on year in the first half and ”we hoping that it's boost–up to 18-20 per cent in the present quarter,”
Adding the bank has not launched any proposal during the festival period, but has ignored the processing charges on the car as well on home loans, Sriram added from the previous week of September the bank was seeking pretty hold on loan queries and disbursals.
Ticket size is improving and as of now it is Rs 30-32 lakh and the target is to take it up to Rs 50 lakh.
“We are concentrating on high value home loans and now roughly 80 per cent of our home loans are below Rs 50 lakh, so we are not very much above Rs 50 lakh and just 12 per cent are above 75 lakh, so we really need to improve that and diminish the interest rates on the same level and we need to push ticket size to Rs 50 lakh,” Sriram added.
