16-08-2012, 01:06 PM
COMPARATIVE STUDY OF HOME LOANS OF PNB AND SBI BANK
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INTRODUCTION TO SUBJECT:
Home loans work like any other debt. That is, loans are simply specific money that we borrow from a bank, a private lender, or some other type of lender. Afterwards, we must repay our debts with interest. However, unlike other types of loans, home loans are different in several respects. Owning a piece of land or property is a lifetime dream for every individual. There are many home loans provider in the market. There are different type of home loan i.e.
Home purchase loans: These are the basic forms of home loans used for purchasing of a new home. With about a million home lenders and mortgage brokers it's becoming a tough challenge as the days are progressing. But at the same time, when the sites are coming up with all the latest tools and relevant information for us, and with all such conveniences, obtaining a home purchase loan or mortgage has
become really pretty simple. However, at the same time though, we may be flummoxed to look so many attractive rates and offers in the market, not to forget the hidden costs associated with each of them.
Home improvement loan: Home improvement loans are used to finance improvements and add on to the existing set of credentials of beauty on your owned house, recently purchased property or rented accommodation. Home improvement loans are used to maintain or enhance the value of your house. In general it includes: repairs, remodeling, energy-related items (permanent in nature), repairs, a new kitchen, a new bathroom, terrace, an extension or general property improvements. Luxury items and fireplaces are generally not eligible, though. Many improvements in landscape and even swimming pools are nowadays considered to be a part of home improvement.
land purchase loan: Land Purchase loans are used by customers who wish to purchase a plot of land for commercial or residential purpose. Everyone has his/her dream perfectly sketched in his souls and so is his ambition to get his house erected on the exact location he dreamt that to be. If you have found and shorlisted the piece of land, and have arrived here for finance, you have come to the best place you could have arrived in the web. Now, that you have decided to purchase a land as an investment or for your own dream home, you will realize that a land purchase loan is one you will cherish. Loans that are strictly for land purchase can be as scarce as good residential plots. While many lending firms around the nation compete to provide mortgages for the purchase of a house on a lot, only local institutions typically will be interested in lending for an empty lot.
METHODOLOGY Design of Research:
The research will be exploratory in nature. A population of peoples who take home loan from these banks will be considered for this study. I will try to explore about the home loans which would make a difference in the behavior of the consumer. Effort will be made to throw light on most of the factors which have either indirect or direct effect on the behavior of the consumer. I will also explore the impact of home loans on the market share of the banks.
INTRODUCTION TO COMPANY: PUNJAB NATIONAL BANK :
PNB has over 4500 branches and offices bringing the Punjab National Bank to your doorstep. Around 2400 offices come under the network of Centralized Banking Solution or CBS. A need for centralized banking system prompted PNB to go computerized and what followed was the establishment of CBS in Punjab National Bank branches in all the leading cities like Delhi, Pune, Chennai, Mumbai, Ahmedabad, Chandigarh, Gurgaon, Hyderabad, Jalandhar, Kolkata, Ludhiana, Nodal and Bangalore. Internet Banking Services are provided to all customers in the CBS branches. A branch and ATM locator is also available on the official website of Punjab National Bank. For an overview of the annual report or the bank profile, the site can be resourceful. The website also provides info on the careers and recruitments at PNB and the exam results. The careers at nationalized banks like PNB are the most sought after one and candidates are selected on the basis of their exam result. PNB topped the Best Paying Commercial Bank category with an overall rating of 87.45% as evaluated by the SSS Retirement, Death & Funeral Benefits Program.
OVERVIEW OF THE INDUSTRY:
HISTORY:
Banking in India has a long and elaborate history of more than 200 years. The beginning of this industry can be traced back to 1786, when the country’s first bank, Bank of Bengal, was established. But the industry changed rapidly and drastically, after the nationalization of banks in 1969. As a result, the public sector banks began experiencing numerous positive changes and enormous growth. Then came the much-talked-about liberalization and economic reforms that allowed banks to explore new business opportunities and not just remain constrained to generating revenues from mere borrowing and lending. This provided the Indian banking scenario a remarkable facelift that only continues to get better with time. However, even today, despite the foray of foreign banks in the country, nationalized banks continue to be biggest lenders in the country. This is primarily due to the size of the banks and the penetration of the networks.