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National Bank of India 2021 mortgage interest rate: SBI currently offers home loans at interest rates starting as low as 6.80% per annum. The SBI said on Wednesday that it has a 34% market share in the home loan segment. On average, the bank receives around 1,000 mortgage customers per day.

SBI has completely waived processing fees until March 2021 for clients receiving mortgage loans on projects approved by SBI. The Bank said it was also working on topics such as the targeted development of the mortgage lending business, fine-tuned analyzes to drive growth, facilitate the mortgage loan journey for clients and post-disbursement engagement with home loan clients.

PMAY loans

The State Bank of India has issued nearly two lakh real estate loans under PMAY until December 2020. SBI is also the only bank designated by the Ministry of Housing and Urban Development as the Nodal Central Agency for processing the grant from Pradhan Mantri Awas Yojana (PMAY).

In a statement, the public sector bank said today (February 10, 2021) that to support the government’s flagship program of “ Housing for All by 2022 ”, SBI has continuously extended home loans under of PMAY and sanctioned 1,94,582 home loans as of December 2020.

SBI also plans to implement AI, cloud, blockchain and machine learning, which can play a central role in propelling not only the bank’s mortgage lending business, but other businesses as well.

New model

SBI is preparing to launch a co-lending model for home loans that will help strengthen SBI’s footprint in the unorganized sector. With the use of cutting-edge technology, a vast branch network, dedicated to central processing centers (CPCs) in 215 centers, the bank’s digital and lifestyle platform, YONO, and other catalysts, SBI reached Rs. 5 trillion marks in the mortgage business, the bank said.

Commenting on the completion of the SBI home loan, SBI Chairman Dinesh Khara said, “This is a momentous achievement for the State Bank of India. This extraordinary achievement is a testament to customers’ continued confidence in the bank. We believe that combining technology with personalized service is key to the current scenario. “

“The bank is also working on various digital initiatives to improve the efficiency of home loan delivery, including a single integrated platform, Retail Loan Management System (RLMS) that will provide an end-to-end digital solution.” , he added.

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