Track2Realty: Central Bank of India is looking ahead to cloak a total business of Rs 10,000 crore from home loan segment. The bank has been aggressively targeting prospective home seekers through its various initiatives.
After the success of “Swapna Sankul – 2012” – the first realty exhibition by the bank in Mumbai recently, the bank will take this initiative forward in 100 cities of the country by March 2013, announced Mohan Tanksale, CMD, Central Bank of India. He said that the bank will also focus on auto loans. The home loan consumers will get a concession on rate of interest of the auto loan.
Tanksale said, “Looking at the success of Swapna Sankul-2012, we will hold similar expos and trade exhibitions in association with industry partners in the auto loan segment also. Home loan business would remain our prime focus. As on September 30, 2012, our home loan business touched Rs 6,800 crore and by March 2013, we are targeting to add the business of Rs 4,000 crore. Hence, we can achieve the target of Rs 10,000 crore by end of this fiscal.”
In two-day expo, about 40 project from various developers participated and received a very good response from the visitors. About 10,000 Mumbaikars visited the expo and the bank sanctioned 525 loan applications on the spot worth a value of Rs 174.24 crore.
Central Bank of India is present in 77 cities of india through its branch network and the process of home loan approvals sanctions will be expedited, he said.