SBI promotes home loan segment at Home Fair '09
State Bank of India rolls out its 2 new home loan products SBI Easy Home Loan and SBI Advantage Home Loan at 'SBI Home Fair 2009' in Chennai. The home loans were available at 0.25% less interest rates and with no processing fees at the 3-day fair.
ONE OF India's largest lenders, State Bank of India, has come up with a non-conventional method to promote its home loan business. The bank recently organised a 'SBI Home Fair 2009' in Chennai and has also entered into an agreement with 12 builders to promote its home loan segment.
As stated by Chief General Manager, State Bank of India, Chennai Circle, J Chandrasekaran, the bank is looking forward to develop special processing channels so as to provide quick services to home loan customers. At present, the home loan market is expected to improve on the back of relaxed prices. The bank held the fair as a way of promoting its two new home loan products - SBI Easy Home Loan and SBI Advantage Home Loan.
For the Chennai circle, the home loan segment grew more than Rs1000 crores in 2008-09. The bank also passed 1,800 home loans, amounting to Rs240 crores for the first quarter of the current fiscal in Chennai. Chandrasekaran also stated that there would be no processing fees on loans, adding that the home loans approved at the fair would bear 0.25 per cent less interest than the nominal rate from the start of fourth year of repayment. Around 24 property dealers and builders were present at the fair.
For the Chennai circle, the home loan segment grew more than Rs1000 crores in 2008-09. The bank also passed 1,800 home loans, amounting to Rs240 crores for the first quarter of the current fiscal in Chennai. Chandrasekaran also stated that there would be no processing fees on loans, adding that the home loans approved at the fair would bear 0.25 per cent less interest than the nominal rate from the start of fourth year of repayment. Around 24 property dealers and builders were present at the fair.
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