SBI to cut processing time for home loans to 10 days

sbi-homeState Bank of India (SBI), the largest commercial bank in India, has promised to cut home loan processing times to ten days under its new ‘Project TATkal’.

“The initiative will help the home loan applicants to get the Loan within “10 Days” after receipt of application form and relevant supporting documents,” it said.

Project TATkal will be rolled out across all the Home Loan marketing and processing outfits in the Bank in a phased manner. The implementation will be done at large centres with sizeable Home Loan business.

Under the project, SBI will revamp its Home Loan marketing infrastructure.

Recently, the Bank also introduced an Online Customer Acquisition Solution (OCAS) on 28th May, 2015 for instant e-approval of Home Loan applications.

State Bank of India has a home loan portfolio of over Rs 1.66 lakh crores – the largest amongst all Scheduled Commercial Banks and Housing Finance Companies in the country.