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INTRODUCTION
SBI Bank offers wide variety of Loans Products to suit your requirements. Coupled with convenience of networked branches/ ATMs and facility of E-channels like Internet and Mobile Banking, SBI Bank brings banking at your doorstep. Select any of our loan product and provide your details online and our representative will contact you for getting loans.
To give a boost to the housing scenario in India and to narrow down the margin between the housing demand and the availability of houses, The National Housing Bank was set up in the year 1988. This was done by keeping in mind that a home seeker though does have a desire for a house but lacks the resources for construction or buying it. To give an enhancement to private housing finance institutions the National Housing Bank came into the picture. It is a principal agency to promote housing finance institutions both at local and regional levels and to provide financial and other support to such institutions. While it is important to keep in mind that the National housing Bank itself does not give loans or finance individuals or a party as such. It is only a corporate body to promote, establish, support or aid the housing finance institutions.
COMPANY PROFILE
SBI Bank is India's second-largest bank with total assets of about Rs.1,676.59 bn(US$ 38.5 bn) at March 31, 2005 and profit after tax of Rs. 20.05 bn(US$ 461 mn) for the year ended March 31, 2005 (Rs. 16.37 bn (US$ 376 mn) in fiscal 2004). SBI Bank has a network of about 573 branches and extension counters and over 2,000 ATMs. SBI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialized subsidiaries and affiliates in the areas of investment banking, life and non-life insurance, venture capital and asset management. SBI Bank set up its international banking group in fiscal 2002 to cater to the cross border needs of clients and leverage on its domestic banking strengths to offer products internationally. SBI Bank currently has subsidiaries in the United Kingdom, Canada and Russia, branches in Singapore and Bahrain and representative offices in the United States, China, United Arab Emirates, Bangladesh and South Africa.
SBI Bank's equity shares are listed in India on the Bombay Stock Exchange and the National Stock Exchange of India Limited and its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE).
At September 20, 2005, SBI Bank, with free float market capitalization* of about Rs. 400.00 billion (US$ 9.00 billion) ranked third amongst all the companies listed on the Indian stock exchanges.
SBI Bank was originally promoted in 1994 by SBI Limited, an Indian financial institution, and was its wholly owned subsidiary. SBI's shareholding in SBI Bank was reduced to 46% through a public offering of shares in India in fiscal 1998, an equity offering in the form of ADRs listed on the NYSE in fiscal 2000, SBI Bank's acquisition of Bank of Madura Limited in an all-stock amalgamation in fiscal 2001, and secondary market sales by SBI to institutional investors in fiscal 2001 and fiscal 2002. SBI was formed in 1955 at the initiative of the World Bank, the Government of India and representatives of Indian industry. The principal objective was to create a development financial institution for providing medium-term and long-term project financing to Indian businesses. In the 1990s, SBI transformed its business from a development financial institution offering only project finance to a diversified financial services group offering a wide variety of products and services, both directly and through a number of subsidiaries and affiliates like SBI Bank. In 1999, SBI become the first Indian company and the first bank or financial institution from non-Japan Asia to be listed on the NYSE.
After consideration of various corporate structuring alternatives in the context of the emerging competitive scenario in the Indian banking industry, and the move towards universal banking, the managements of SBI and SBI Bank formed the view that the merger of SBI with SBI Bank would be the optimal strategic alternative for both entities, and would create the optimal legal structure for the SBI group's universal banking strategy. The merger would enhance value for SBI shareholders through the merged entity's access to low-cost deposits, greater opportunities for earning fee-based income and the ability to participate in the payments system and provide transaction-banking services. The merger would enhance value for SBI Bank shareholders through a large capital base and scale of operations, seamless access to SBI's strong corporate relationships built up over five decades, entry into new business segments, higher market share in various business segments, particularly fee-based services, and access to the vast talent pool of SBI and its subsidiaries. In October 2001, the Boards of Directors of SBI and SBI Bank approved the merger of SBI and two of its wholly owned retail finance subsidiaries, SBI Personal Financial Services Limited and SBI Capital Services Limited, with SBI Bank. Shareholders of SBI and SBI BANK approved the merger in January 2002, by the High Court of Gujarat at Ahmedabad in March 2002, and by the High Court of Judicature at Mumbai and the Reserve Bank of India in April 2002. Consequent to the merger, the SBI group's financing and banking operations, both wholesale and retail, have been integrated in a single entity.
SBI BANK LIMITED
SBI Bank is Indias second largest bank with total assets of about Rs. 146.214 Crore at December 31, 2004 and profit after tax of Rs. 1,391 Crore in the nine months ended December 21, 2004 (Rs. 1,637 Crore in fiscal 2004). SBI Bank has network of about 505 branches and extension counters and about 1,850 ATMs. SBI Bank offer a wide range of banking products and financial services to corporate and retainl customers a variety of delivery channels and through its specialized subsidiaries and affiliates in the areas of investment. SBI Bank set up its international banking group in fiscal 2002 to carter to the cross border needs of clients and leverage on its domestic banking strengths to offer products internationally. SBI Bank currently has subsidiaries in the United Kingdom and Canada, branches in Singapore and Bahrain and representative officer in the United States, China United Arab Emirates and Bangladesh.
SBI Bank’s equity shares are listed in India on the stock exchange, Mumbai and the National stock Exchange of India Limited and its American Depositary receipts (ADRs) are listed on the New York Stock Exchange (NYSE).
WHY SBI LOMBARD
India’s number one private general insurance company
First general insurance company in India to be ISO 9001:2000 certified
• Highest brand recall.
• Simple and fast documentation.
• Lightning fast claims settlement.
• Instant online policy issuance.
• Comprehensive product line.
• Highest security level offered through 128-bit encryption in case of online data exchange.
• First company to provide digitally signed documents through an online interface.
• Achieved financial breakeven in first full year of operation.
• Achieved underwriting breakeven in second year of operation.
SERVICES PROVIDED BY SBI BANK
1. DEPOSITS
• SAVING BANK
• SPECIAL SAVING ACCOUNT
• SENIOR CITIZEN SERVICE
• ROAMING CURRENT ACCOUNT
• PRIVATE BANK
• SALARY ACCOUNT
• WOMEN’S ACC0UNT
• FIXED DEPOSITS
• EASY FIXED DEPOSIT
• RECURING DEPOSITE
• YOUNG STAR
• EEFC ACCOUNT
• RFC ACCOUNT
2. LOAN
• HOME LOAN
• CAR LOAN
• PERSONAL LOAN
• TWO WHEELERS LOAN
• LOAN AGAINST SECURITY
• FARM EQUIPMENTS LOAN
• C0MMERCIAL VEHICLE LOAN
• CONSTRUCTION EQUIPMENTS LOAN
• OFFICE EQUIPMENTS LOAN
• MEDICAL EQUIPMENTS LOAN
3. INVESTMENTS
• SBI BANK NONDS
• MUTURAL FUNDS
• PURE GOLD
• INITIAL PUBLIC OFFER
• GOVERNMENT OF INDIA BOND
4. DEMAT
5. CARDS
• CREDIT CARD
• CREDIT CARD
• DEBIT CARD
• TRAVEL CARD
6. YOUND STAR LOGIN
7. MOBILE BANKING
8. ONLINE SERVICE
• BILL PAY
• SHOPPING
• TICKETING
• CHARITY
• SHARE TRADING
9. NRI SERVICE
• NRI HOME
• BANKING PORDUCT
• MONEY TO INDIA
•
MODERN INVESTMENT OPTIONS
Along with deposit products and Loan offering, SBI Bank assists you to manage your finances by providing various investment options ranging from SBI Bank Tax Saving Bonds to equity Investments through Initial public offers and investment in pure gold. SBI Bank facilitates following investment products.
• SBI Bank Tax Service Bonds
• Government of India Bonds
• Investment in Mutual Funds
• Initial Public Offers by Corporate
• Investment in “Pure Gold”
SBI BANK BONDS
Bonds are similar to fixed deposits. Like bonds, fixed deposit receipts are normally issued by a bonk, a financial institutional or a company, for a fixed period. A specified rate of interest is payable to the investor at regular intervals. However, unlike bonds, fixed deposits are not transferable. Also, while bonds may be secured or unsecured, fixed deposits are always unsecured.
GOI BONDS
• Low risk
• Reasonable investment tenure
• Nomination facility available
• Cannot be traded in secondary market
• Interest income taxable
INVESTMENT IN IPO’S
Investors can invest in IPO’s through SBI Bank which offers hassle-free & convenient investing in equities. SBI Bank helps in gathering in-depth analysis of new IPO’s issues (Initial Public Offerings) which are about to hit the market.
SBI BANK PURE GOLD
Gold has been traditionally the most favored from of investment for Indians. In fact, India, even today is amongst the highest consumers of gold in the world. However, the gold market remains largely unorganized with reliability and convenience remaining the key issues for gold buyers in the country.
SBI Bank with its ‘Pure Gold’ offer attempts to bridge the gap between need of the customers for buying gold and availability of an organized avenue to satisfy that need, by taking care of the two key components – Reliabity and convenience.
TRADITIONAL INVESTMENT OPTIONS
SBI Bank offers wide variety of deposit products to suit investors requirements. Coupled with convenience of networked branches/over 1800 ATMs and facility of E-channels like Internet and Mobile Banking SBI bridge at customers doorstep. There are four options available to the investors.
• Fixed Deposits
• Saving Account
• Recurring Deposit
FIXED DEPOSIT
Safety, flexibility, liquidity and returns !!!
A combinations of unbeatable features of the Fixed Deposit from SBI Bank.
The housing finance institutions can be segregated into three categories:
• Public Sector Finance
• Banks
• Private Sector Finance
Loan, sweet home loan: SBI Bank home loan information
SBI BANK'S HOME LOANS ARE A BOON FOR THOSE LOOKING TO BUY A HOUSE OR FLAT
BY OUR CORRESPONDENT
7 June, 2005: Home is more or less a lifetime investment and hence home loans are an integral part of every person who dreams and wants to have a living space of his own. A once in a lifetime investment needs a loan and that is how a home loan comes into the scheme of things in your life.
SBI Bank, one of the largest private sector banks in India, is a major player in the home loan category, with attractive interest rates and a host of incentives to the customer seeking a house loan. Gone are the days when you seek salvation in endless paperwork in the run up to the elusive golden pot of housing loans. It has almost become a doorstep service, with golden carrots like personal accident insurance and special 100 per cent funding for select properties dangling in front of you.
ELIGIBILITY FOR HOME LOANS
For availing the SBI Bank home loan, the age limit is at least 21 years. Another eligibility criteria is that you must be employed or at self-employed (Read: The bank wants to make sure that you can pay off the loans).
The loan repayment must end when the person who availed it turns 65 or retires from service, whichever comes first.
For land loan the apart from the aforementioned conditions, the person availing loans should be purchasing the property for residential use and the purchase has to be from a development authority or a registered co-operative society. The land in question must be for construction of a house, with clearly marked boundaries, leaving no room for legal wrangle on this count.
The office premise loan can be for purchase or construction or extension of a non-residential property, but the bank insists on a 3-years’ work experience. Professionally qualified self employed individuals are eligible to apply.
To avail home equity loans, or loans against property, you must also be the owner of a self-occupied property.
LOAN AMOUNT
A host of factors, including income, age, number of dependents, assets and liabilities as well as stability of count when the loan amount is sanctioned. But the eligibility for bigger loans is also enhanced by some factors.
If the loan applicant’s spouse is earning, the person can be a co-applicant which will enhance the amount. Co-owners, as a rule, must be co-applicants also. Your future spouse’s income can also be considered as combined income for loan, but the loan would be disbursed only after you tie the knot and produce the marriage certificate.
Additional securities like bonds, fixed deposits and LIC policies also enhance creditworthiness. The final loan amount depends on your repayment capabilities, within the limits set for each type of loan. Registration, stamp duty and transfer charges are included in total costs.
DOCUMENTS
A passport size photograph, PAN card, voters ID, passport or license for age-proof, last six months’ bank statement, latest Form 16 and certified IT returns for the past 3 years Administration fee cheque and loan enclosure letter are the required original documents. The bank may ask for further legal documents if required.
DISBURSAL OF LOANS
The loan amount is disbursed after the required documents are submitted and after you have selected the home or property. A 230 A clearance of the seller or 371 clearance from IT authorities are also necessary. After the conveyance deed is registered and you invest own contribution the loan amount will be disbursed in favour of the builder or seller. Loan agreements, request for disbursement, post dated cheques and in some cases personal guarantors request are required documents for disbursal. Documents may vary from state to state.
You can opt for fixed or adjustable rates.
In case of adjustable rates for Home/Land loans, the rate varies with the SBI floating reference rate. There is no processing fee. The administration fee is 0.5% of the total loan amount, plus the service tax. The interest is calculated on monthly remaining amount. A part prepayment documentation charge of Rs. 500 is charged for part prepayment. The maximum tenure is 20 years.
For office premises loan, a processing fee of 0.5 % and an administration fee of another 0.5% is charged. Interest is calculated on the balance amount every month and maximum tenure is 15 years. A documentation charge of Rs 500 plus service charge is levied for part-prepayment.
For Home Equity loans, or loans against property, the administration fee is one per cent of the total loan amount plus service tax, while the interest is on monthly remaining amount. Maximum tenure allowed is 15 years and a documentation charge of Rs 500, plus service charge will be levied for prepayment.
In Fixed rate loans, the interest remains unchanged through out the tenure. For home/land loans the applicable rate of interest is 8.75 %. Administration fee is 0.5% of the loan amount plus service tax. Prepayment documentation charge of Rs 500 plus service charge is levied.
For office premises loans, a processing fee of 0.5 % and an administration fee of 0.5% is levied. The rate of interest is 11%.
For Home Equity loans, there is no processing fee. The administration fee is 1% plus f the loan amount plus service tax. The rate of interest is 10.5% for residential properties and 11% for commercial properties.
The repayment tenure varies. For Home Equity and office premises loans the maximum tenure is 15 years, while for home loans the maximum tenure is 30 years. The loans are to be repaid via equated monthly installments or EMIs. EMIs comprise both principal amount and interest. The EMI starts the month after the full disbursement of loan is made. This can be either deducted from your salary, or paid through post-dated cheques, dated normally to the first of every month, which can be extended to any date till 7th of the month, depending on the salary date. Bounced cheques and delayed payments will attract charges. Post-dated cheques can be replaced within 5-7 working days.
Applications can be put in even before selecting property. The applicant can select a property even if he is not residing in the city, but the SBI bank needs to have operations in that city. You can withdraw from the loan within six months of the approval. You can apply for home loans online.
NRI SCHEMES
SBI Bank also offers home loans for non resident Indians as well as people of Indian origin from Australia, Canada, France, Germany, Gulf Cooperation Council countries, Honk Kong, Italy, Japan, Malaysia, New Zealand, Singapore , US and UK.
Loans are offered for purchase, construction, extension or renovation of a new residence. The maximum tenure for salaried is 15 and self-employed is for 10 years. For GCC countries, tenure is between 11-15 years, and minimum qualification is post graduate/professional qualification.
For US and other countries, minimum qualification is diploma/graduation. Applicant should be employed for a minimum of three years abroad. The maximum loan amount is Rs 1 crore and minimum is Rs 5 lakh. Applications can be made online and there is facility to track the status online too.
TYPES OF HOME LOAN ISSUED IN REWA CITY
Three types of home loan provide in Rewa City:
1. Construction :
Construction are generally mean by make a building and before building should here requirement by money & capital where come to capital than person have seeking a capital and toward direction by private bank and government bank.
2. Purchasing :
It is mean by purchase generally used by buy a home. And two type buy a home. One buy a home free fold house and other buy a home hold house.
But free hold house have easily buy a, home. (Nagar Nigam create problem). And too much requirement a capital that much are issue in the bank.
3. Balance of Transfer :
It is mean by one bank to another bank are transfer in the balance: bank can be easily transfer in balance. Because a profit by another bank and customer. While before to paid a interest rate and other bank a some less interest rate and prefious bank are paid in the loan. After started by in here bank.