PRESS RELEASE
Hyderabad : State Bank of India (SBI) proudly reaffirms its position as the market leader and the preferred choice for Home Loans, having crossed the remarkable milestone of 6.80 trillion in Home Loan Business. With an extensive network of over 23,000 branches nationwide, SBI stands as a testament to trust and excellence in the housing finance sector. The disbursements for the current year have exceeded 1 trillion, reinforcing SBI’s commitment to the housing sector.
Shri Rajesh Kumar, Chief General Manager, State Bank of India, Telangana, elaborated on the Home Loan portfolio maintained by Hyderabad Circle and shared insights into recent initiatives. Hyderabad Circle boasts a Home Loan Portfolio exceeding 57,000 crores for the current financial year, sanctioning 20,636 Home Loans & Top Up Loans amounting to Rs. 9,300 crore in Telangana state. Disbursements during the year have crossed Rs. 8,200 crores.
With 26 dedicated Central Processing Centres across Telangana, the Bank’s Builder Finance Portfolio stands at Rs. 700 crores. This financial year witnessed new sanctions of Rs. 470 crores and disbursements of Rs. 370 crores.
SBI emphasizes its commitment to digital transformation with various enablers such as YONO and OCAS (Online Customer Acquisition System). The Bank’s digital product “Insta Top up Loan” on YONO allows Housing Loan customers to avail a Top up loan seamlessly. To enhance Turn Around Time, the Bank introduced “Retail Loan Management Solutions,” digitizing the entire sourcing and underwriting process, eliminating the need for customers to obtain Title Investigation Reports and Valuation Reports separately. The documentation process is streamlined through “Document Management Solutions.”
Responding to the demand from builders and the public, SBI announces the Mega Property Show to be held at Hitex Exhibition grounds from December 1st to 3rd, 2023. More than 70 prominent builders will showcase over 600 ongoing and upcoming projects, providing a one-stop solution for Hyderabad residents to realize their dream homes. SBI offers concessions in processing fees and interest rates for those who book properties during the show, inviting the people of Hyderabad to make the event a grand success.
