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SBI's Kolkata circle aims at Rs 5,000 cr home loan disbursement

IANS  |  Kolkata 

With the reduction in lending rate by 0.25 per cent in the affordable housing segment, State of India's circle is aiming at a disbursement of around Rs 5,000 crore in the segment in the current fiscal.

circle consists of Bengal, Sikkim, Andaman and Nicobar Islands.

"Last year we had disbursed Rs 3,125 crore under segment, recording growth of Rs 1,841 crore. We are targeting a growth of Rs 2,000 crore in housing loan and further Rs 300 crore in allied products in the current financial year," said lender's Chief General Manager Partha Pratim Sengupta.

"Our market share in the state is close to 30 per cent," he added.

With lower interest rate, the targeted at disbursing home loan in 1,500 accounts under Pradhan Mantri Awas Yojana. The average ticket size for home loan in the circle is Rs 22 lakh.

Following the revision in rate, the lender will charge 8.35 per cent on women borrowers and 8.40 per cent for other borrowers with loan amount of up to Rs 30 lakh.

Sengupta said that retail and corporate deposits stood at Rs 1.61 lakh crore while total advances were Rs 64,948 crore.

Key parameters like expense ratio and transaction costs have declined during the year, he added.



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, May 16 2017. 21:26 IST