SBI disburses Rs 1.12 lakh crore home loans in FY22

SBI expended Rs 1.12 lakh crore of loans to individual homebuyers until January end in FY22. 

40% of issuances came from tier-1 cities and the rest from other cities and towns. The standard ticket size of these is around ₹34,00,000. 

SBI waived processing fees until March 31 this year. This minimum rate may rise to 20 basis points depending on an individual’s credit score. 

Customers can save anything between ₹3,500-₹10,000 on loan applications depending on the ticket size. 

The bank’s market share in home loans is at 35.62%. It documented an 11% continuous growth in outstanding home loans at ₹5.38 lakh crores. 

HDFC provided loans to individuals by 16 percent, quicker than the 12 percent growth the company documented on its total assets. 

SBI encompasses around 220 dedicated Retail Asset Central Processing Centre in India through which home loan applicants are assessed.

Karthik Srinivasan, Head of Financial Sector at ICRA Ratings said “If large lenders are witnessing traction in home loan disbursements, it reflects a demand revival." 

SBI has brought down the loan processing time to five days for approved projects. 

An official said SBI is obtaining stimulating loan applications from smaller towns.