SBI Launches Initiative To Speed Up Home Loan Applications

Country's largest lender State Bank of India on Friday launched an initiative to provide doorstep services and expedite home loans application process.

The initiative known as 'Project Tatkal' will help get the loan within 10 days after receipt of application form and relevant supporting documents, the bank said in a release.

"It will bring down the average time taken for delivery of home loan to within 10 days from the date of receipt of completed home loan application form and relevant supporting documents from the customer," the release said.

The implementation will be done at large centres with sizable home loan business.

The bank has also recently introduced an online customer acquisition solution (OCAS) for instant e-approval of home loan applications.

The bank has over three million home loan customers with a portfolio of over Rs 16, 60,000 crore.

 SBI stock price On July 03, 2015, State Bank of India closed at Rs 268.85, up Rs 1.45, or 0.54 percent. The 52-week high of the share was Rs 335.90 and the 52-week low was Rs 234.52.

The company's trailing 12-month (TTM) EPS was at Rs 17.32 per share as per the quarter ended March 2015. The stock's price-to-earnings (P/E) ratio was 15.52. The latest book value of the company is Rs 169.77 per share. At current value, the price-to-book value of the company is 1.58.

Also Read: Sensex Up 95 Points, Rupee Up 5 Paise Against Dollar

5 Things You Shouldn't Be Hiding From Income Tax Department

Source: PTI