8% home loan scheme ends on Nov 8, SBI to decide soon
By fe Bureaus
Country s largest lender, State Bank of India (SBIN.NS : 2242.9 -11.75) (SBI), is set to take a call on the continuance of its 8% home loan scheme within a couple of days. The scheme, which was rolled out earlier this year, closes on November 8, 2009. SBI chief general manager-personal loans P Nandkumar told FE, We are yet to decide whether to continue the scheme or withdraw it. But we will take a decision within a couple of days. Nandkumar s statement comes after a bank official in Kolkata said the bank would withdraw the scheme with effect from November8, 2009. The bank has sanctioned Rs 17,537 crore under the scheme and provided loans to 1,16,174 people from February to September this year. The bank has achieved a 30.6% growth under the scheme during the period compared to its earlier projection of 24%, said Nandkumar. The bank is also planning to cash in on its huge branch network and client base and start wealth management business and financial planning services.
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) (SBI), is set to take a call on the continuance of its 8% home loan scheme within a couple of days. The scheme, which was rolled out earlier this year, closes on November 8, 2009. SBI chief general manager-personal loans P Nandkumar told FE, We are yet to decide whether to continue the scheme or withdraw it. But we will take a decision within a couple of days. Nandkumar s statement comes after a bank official in Kolkata said the bank would withdraw the scheme with effect from November8, 2009. The bank has sanctioned Rs 17,537 crore under the scheme and provided loans to 1,16,174 people from February to September this year. The bank has achieved a 30.6% growth under the scheme during the period compared to its earlier projection of 24%, said Nandkumar. The bank is also planning to cash in on its huge branch network and client base and start wealth management business and financial planning services.
