Documente Academic
Documente Profesional
Documente Cultură
HOUSING FINANCE
WITH REFERENCE TO SBI
PREPARED BY
AMIT C. BAKALKAR.
T.Y.B.COM. (BANKING AND INSURANCE) GUIDE PROF. MRS. MUGDHA KESKAR.
DECLARATION
Researcher Amit C. Bakalkar student of Joshi Bedekar College studying in T.Y.B.Com (Banking & Insurance) Semester V (2010-2011) hereby declare that I have completed the project on Housing Finance with reference to SBI successfully in the current academic year. The information submitted is true and original to the best of my knowledge.
ACKNOWLEDGEMENT
Acknowledgement is not a mere formality or ritual but a genuine opportunity to express the indebtedness to all those without whos active support and encouragement this project wouldnt have been possible. Hence, it gives me immense gratification to place on records my profound gratitude sincere appreciation to each and every one of those who have helped me in this endeavour. Firstly I would like to thank the Staff of the SBI Branch for allowing me to do my project there and providing valuable help in collecting the data. I extend my sincere thanks to PROF. MUGDHA KESKAR for her continuous guidance, cooperation and valuable suggestions to initiate and carry out the study.
INDEX
RESEARCH METHODOLOGY ABSTRACT..................................................................................................... 1 OBJECTIVES OF THE STUDY.................................................................... 3 NEED OF THE STUDY.................................................................................4 SCOPE OF THE STUDY............................................................................... 4 DESIGN OF STUDY...................................................................................... 5 TOOLS AND TECHNOLOGIES USED....................................................... 7 LIMITATIONS OF THE STUDY.................................................................. 8
CHAPTER 1
1. INTRODUCTION TO HOUSING FINANCE HOUSING 1.1. INTRODUCTION....................................................................................9 1.2. HOME LOAN INDUSTRY IN INDIA....................................................14 1.3. INDIA'S MORTGAGE MARKET SCORES OVER WEST................... 19
CHAPTER 2
2. COMPANY PROFILE 2.1. INTRODUCTION....................................................................................21 2.2. ROOTS.................................................................................................... 23 2.3. ASSOCIATE BANKS............................................................................. 24 2.4. BRANCHES.... 25 BRANCHES.... ... OFFICES.. .... 2.5. FOREIGN OFFICES.... 25 2.6. ATM SERVICES.................................................................................... 25 2.7. GROUP COMPANIES.......................................................................... 26 2.8. PRODUCTS AND SERVICES............................................................... 27 PERFORMANCE 2.9. PERFORMANCE 28 2.10. ORGANIZATION.................................................................................. 28 2.11. THE BANK STANDS FOR BEST PRACTICES................................ 29 HOLDERS......................... ................... 2.12. SHARE HOLDERS......................... 29 2.13. UNIQUE FEATURES OF SBI HOME LOAN PRODUCTS............... 30
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CHAPTER 3
3. HOME LOAN PRODUCTS OFFERED BY SBI 3.1. SBI EASY HOME LOAN........................................................................ 32 3.2. SBI ADVANTAGE HOME LOAN.......................................................... 34 3.3. HOME LOAN PRODUCT VARIANTS.................................................. 36 3.4. HOME LOAN TOP-UP PRODUCTS..................................................... 43 3.5. RELATED HOME LOAN PRODUCTS................................................. 45
CHAPTER 5
4. TERMS AND NORMS 4.1. ELIGIBILITY.......................................................................................... 47 4.2. DOCUMENTS......................................................................................... 49 4.3. PURPOSE................................................................................................ 56 4.4. QUANTUM OF LOAN............................................................................ 59 4.5. EQUATED MONTHLY INSTALLMENT CALCULATION................ 60 4.6. MONETARY CEILINGS........................................................................ 65 4.7. TOTAL PROJECT COST....................................................................... 66 4.8. MARGIN................................................................................................. 66 4.9. SECURITIZATION................................................................................ 67 4.10. FEES OR CHARGES........................................................................... 67 4.11. RATE OF INTEREST.......................................................................... 69 4.12. MORATORIUM..................................................................................... 70 4.13. GUARANTOR....................................................................................... 71 4.14. TAX BENEFITS.................................................................................... 72 4.15. PACKAGE OF EXCLUSIVE BENEFITS............................................ 72 4.16. INSURANCE COVER.......................................................................... 73 4.17. VALUATION POLICIES...................................................................... 75
CHAPTER 5
5. SYSTEMS AND PROCEDURES 5.1. STAFF INVLOVED AND THEIR ROLES............................................ 76 5.2. PROMOTION AND DISTRIBUTION OF THE PRODUCTS............... 77 5.3. PROCESS UNDERTAKEN.................................................................... 79
CHAPTER 6
6. PERFORMANCE EVALUATION 6.1. COMPETITORS...................................................................................... 91 6.2. STRENGTHS AND WEAKNESSES......................................................91 6.3. SIZE OF HOME LOAN.......................................................................... 92 6.4. SHARE OF HOME LOANS IN TOTAL ADVANCES.......................... 93 6.5. QUALITY OF ASSETS......................................................................... 94 6.6. NATURE OF COMPLAINTS COLLECTED FROM ONLINE CONSUMER FORUMS................................................................... 6.7. AWARDS AND REWARDS............................................................. 95 96
CHAPTER 7
7. RECOMMENDATIONS & CONCLUSIONS
APPENDIX
QUESTIONNAIRE TO THE BANK OFFICIAL QUESTIONNAIRE TO CUSTOMERS
BIBLIOGRAPHY
LIST OF DIAGRAMS Diagram No. 1.1 1.2 1.3 1.4 2.1 3.1 4.1 6.1 6.2 6.3 6.4 Name of Diagram Housing in India Demographics in Housing Housing Finance Timeline Improved Affordability Shareholders of SBI Home Loan Products Offered by SBI Home EMI Calculator Size of home loan Share of home loan Quality of Assets Customer complaints Page No. 14 15 15 16 29 31 60 92 93 94 95
LIST OF TABLES
Table No. 1.1 2.1 3..1 3.2 3.3 4.1 4.2 4.3 4.4 4.5 4.6 4.7 4.8 4.9 4.10 4.11 5.1 6.1 6.2 6.3 6.4 6.5 6.6 Name of the Table Major home loan providers Best Practices in SBI loan amount in SBI easy home loan loan amount in SBI advantage home loan Margin of bank on loan amount Eligibility Criteria & Documentation Criteria for Loan Amount EMI calculation in the flat rate system EMI calculation in Reduced balanced system Monetary ceilings Criteria of margin amount Securitization Processing fee amounts Rate of interests of SBI Easy Home Loan Rate of interests of SBI Advantage home loan Valuation policies. Systems and procedures in lending process Competitors Strengths and weaknesses Size of home loan Share of Home Loans Quality of assets. Customer complaints Page No. 18 28 33 35 37 48 59 61 62 65 66 67 67 69 70 75 76 91 91 92 93 94 95
RESEARCH METHODOLOGY
ABSTRACT
Home is a dream of a person that shows the quantity of efforts, sacrifices luxuries and above all gathering funds little by little to afford ones dream. Home is one of the things that everyone one wants to own. Home is a shelter to person where he rests and feels comfortable. Many banks providing home loans, whether commercial banks or financial institutions, to the people who want to have a home. Many banks are providing home loans at cheapest rate to attract consumers towards them. The more customer friendly attitude of these banks, currently offer to consumers cheapest loan over homes. In view of acute housing shortage in the country, and keeping in mind the social economic role of commercial banks in the present times, The ICICI Bank and Standard chartered bank has become the first player in this sector to announce a housing loan for a 20 years period. No doubt it will enhance the end cost of the home but it will facilitate people to plan their house over longer duration now, it has been made easy for a person to buy that dream house which he dreamt of long ago. A home loan is a loan taken for buying or constructing a home or to make improvements to a residential property. Individual can get a loan from banks and registered housing finance companies. The Home loan sector in India is the pivotal role player in the growth of the real estate scenario in India. With tax incentives given
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to the housing finance sector in the annual budget of 2001, transactions related to buying and selling of residential properties increased considerably and was much higher as compared to previous years. Since the new class of buyers are relatively younger set of customers who are more aware about legal documentation and approvals, buyers are now more 'end-users' rather than investors; the property market in India undergoes transformation to align itself with global standards with an increased emphasis on quality & cost control and documentation methods. In the current economy of India, the real estate sector has the maximum propensity to generate income and demand for materials, equipment and services. It can be said that housing finance companies were formed for co-existing with buyer's requirements of housing loans for investing in properties. Home loans are made available by financial institutions to both Indian and NRI customers at floating and fixed rate of interest and also at attractive EMI options.
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RESEARCH DESIGN
The study done is exploratory in nature. The branch of the bank was selected by convenience and for the sake of access to the qualitative information. For the latest information and focus, the study is confined to the systems and procedures in lending and the time period as said above.
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SOURCES OF DATA
The data and the information presented here have been collected mainly from two kinds of resources: Primary sources Direct and oral interaction with the Bank officials, particularly, the branch manager via a Questionnaire, a copy of which is made available in the APPENDIX. The Record books maintained at the branch office. Secondary sources Several secondary resources have been referred for collecting first hand information and literature on the subject that includes: The Training and Guidance Material supplied to the staff of the Branch. Online Annual Reports by Consultancy and Research companies. Online Content of the Banks Website. The material supplied by the Faculty Guide. Several websites on personal loans and Daily News Papers like Economic Times of India and Business Standard. The details of which have been presented in Bibliography.
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1.6.2. Hardware and Software Technologies: Home PC with Internet access MS Word and Excel-2007. World Wide Web or Internet
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CHAPTER -1
INTRODUCTION TO HOUSING FINANCE
1.1. INTRODUCTION
The realty boom in India has given a new dimension to the finance sector in India - both in Home Loans and Home Insurance segments. This has not only given a competitive edge to the finance companies to provide attractive options to customers but has also contributed to the increased investments in the real estate sector. This has resulted in 13 new institutions foraying into the housing finance business in the last three years. Home loans work like any other debt. That is, loans are simply specific money that borrow from a bank, a private lender, or some other type of lender. Afterwards, borrowers 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 Home Improvement Loans Home Construction Loans Home Extension Loans Home Equity Loans Land Purchase Loans Bridge Loans
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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, borrower 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. loan: Home improvement loan Home improvement loans are used to finance improvements and add on to the existing set of credentials of beauty on borrowers owned house, recently purchased property or rented accommodation. Home improvement loans are used to maintain or enhance the value of his house. In general it includes: repairs, remodeling, energyrelated 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.
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Home construction loan: Home construction loans are used to finance for the construction of our newly acquired home or if a person is planning to build a home. The factors include in calculations for house building costs are as follows. Design of the house Construction cost Financing Cost Buildable site All the above mentioned costs will help the Bank to determine the amount need to borrow. For example, besides calculating the construction costs, Bank may also be required to consider the total expenditures to develop the site in order to build. Each site is unique requiring different expenditures so this specific rupee amount will vary from site location to site location. Payment: Payment: Before the house starts getting build, Bank will be required to pay a deposit to purchaser builder as well as paying a deposit for the land if he is buying land. As work progresses he will need to make payments to the builder. Certain loans can be structured for progress payments to be made during construction. Home extension loans are used by customers to get loans from the banks to extend their houses, by adding more rooms, kitchens, wash rooms, terraces, or any other rooms for his growing family. It may also be used to enclose open balcony/terrace space, or constructing a Pujaghar.
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Maximum Amount of Home Extension Loans: Banks generally offers about 70-85% of the total amount of home extension as loan. The amount of loan sanctioned also depends on a number of factors such as the age of the applicant at the time of loan, tenure of the loan, repayment capacity of the borrower; his/her credit history etc. Home equity loan: Home equity loans helps customer to encash the market value of the commodity by taking a loan by mortgaging the property. So, Home equity loans are availed by customers, who wish to mortgage his/her property to the bank for taking some loan for some other purpose. Then, it's up to the bank's discretion to consider the market value of the property and accordingly decide how much to pay to the customer. Both the residential as well as non residential property can be considered for the approval of the loan, provided the mortgager is a licensed title holder and the land is free from any kind of dispute. Home equity loans don't restrict one to use the loan money in specific investments. It might also be used in marriage, higher education, medical expenses, etc. However it should not be used in any illegal or speculation purposes. loan: Land purchase loan Land Purchase loans are used by customers who wish to purchase a plot of land for commercial or residential purpose.
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Bridge loans Bridge loans are designed for people who wish to sell the existing home and purchase another one. The bridge loans help finance the new home, until a buyer is found for the home. Bridge loans are used by customers as an effective vehicle to capitalize on a purchase opportunity. It can be considered as a short term financing scheme which is generally expected to be paid back, within the range of 6-36 months.
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MARKET FEATURES
Loan Features o Mostly floating rate o Max. LTV = 85% (65% for HDFC) o Avg. Size: approx. USD 35,000 Aggressive marketing and distribution Role of direct selling agents Cross-selling of products Growth in Tier II and Tier III cities Rapid growth in non-residential real residential estate sector, particularly in lT/lTES sectors
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Financial institutions are now disallowed from accessing the External Commercial Borrowing Market Need for long-term funding sources-insurance, p insurance, provident and pension funds Securitisation market still at nascent stage
Financial Institutions
HDFC, ICICI Ltd, Citibank, HSBC, Standard CharteredGrindlays, IDBI Bank, etc
1.1 .1: Table 1.1: major home loan providers (Source: Researchers methodology)
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3. The installment to income ratio-ranged between 34% and 40%, in India is lower than some countries in the West. 4. This is based on an analysis by rating agency Fitch of the home loan asset pool that it rates. 5. This is because borrowers property prices. 6. The extent of second houses purchased is also limited and most borrowers stick to their repurchase schedules. 7. The Diagrams computed by Fitch based on the asset pool that it rates implies that on an average, the borrower funds up to 30% of the house value through his own capital 8. This among other things increases the borrowers willingness to repay. 9. Some bankers say the black money component is also high in the Indian realty market, resulting in higher borrower equity. income has kept pace with rise in
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10. Another notable factor is that delinquencies have remained range-bound in the last 33 months, according to residential mortgage index launched by the ratings firm. 11. The index which tracks home loans that have not repaid for over 90 days has moved in a narrow range between 0.90% and 1.07%.
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CHAPTER -2
COMPANY PROFILE
2.1. INTRODUCTION
State Bank of India (SBI) has history of more than 200 years of existence. The evolution of State Bank of India can be traced back to the first decade of the 19th century. It began with the establishment of the Bank of Calcutta in Calcutta, on 2 June 1806. The bank was redesigned as the Bank of Bengal, three years later, on 2 January 1809. It was the first ever joint-stock bank of the British India, established under the sponsorship of the Government of Bengal. Subsequently, the Bank of Bombay (established on 15 April 1840) and the Bank of Madras (established on 1 July 1843) followed the Bank of Bengal. These three banks dominated the modern banking scenario in India, until when these banks were
amalgamated to form the Imperial Bank of India, on 27 January 1921. An important turning point in the history of State Bank of India is the launch of the first Five Year Plan of independent India, 1951. in 1951 The Plan aimed at serving the Indian economy in general and the rural sector of the country, in particular. Until the Plan, the commercial banks of the country, including the Imperial Bank of India, confined their services to the urban sector. Moreover, they were not equipped to respond to the growing needs of the economic revival taking shape in the rural areas of the country. Therefore, in order to serve the economy as a whole and rural sector in particular,
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the All India Rural Credit Survey Committee recommended the formation of a state-partnered and state-sponsored bank. The All India Rural Credit Survey Committee proposed the takeover of the Imperial Bank of India, and integrating with it, the former state-owned or state-associate banks. Subsequently, an Act was passed in the Parliament of India in May 1955. As a result, the State Bank of India (SBI) was established on 1 July 1955. This resulted in making the State Bank of India more powerful, because as much as a quarter of the resources of the Indian banking system were controlled directly by the State. Later on, the State Bank of India (Subsidiary Banks) Act was passed in 1959. The Act enabled the State Bank of India to make the eight former State-associated banks as its subsidiaries. The State Bank of India emerged as a pacesetter, with its operations carried out by the 480 offices comprising branches, sub offices and three Local Head Offices, inherited from the Imperial Bank. Instead of serving as mere repositories of the community's savings and lending to creditworthy parties, the State Bank of India catered to the needs of the customers, by banking purposefully. The bank served the heterogeneous financial needs of the planned economic development. Today, State Bank of India (SBI) has spread its arms around the world and has a network of branches spanning all time zones. SBI's International Banking Group delivers the full range of cross-border finance solutions through its four wings - the Domestic division, the
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Foreign
Offices
division,
the
Foreign
Department
and
the
International Services division. priorities: In recent years the bank has focused on three priorities 1. computerizing its operations and 2. Changing the attitude of its employees (through an ambitious program aptly named 'Parivartan' which means change) as a large number of employees are very rude to customers.
2.2 ROOTS:
The State Bank of India traces its roots to the first decade of 19th century, when the Bank of Calcutta, later renamed the Bank of Bengal, was established on 2 June 1806. The government amalgamated Bank of Bengal and two other Presidency banks, namely, the Bank of Bombay (incorporated on 15 April 1840) and the Bank of Madras on 27 January 1921, and named the reorganized banking entity the Imperial Bank of India. All these Presidency banks had been incorporated as joint stock companies, and were the result of the royal charters. The Imperial Bank of India continued as a joint stock company. Until the establishment of a central bank in India the Imperial Bank and its early predecessors served as India's central bank, at least in terms of issuing the currency. The State Bank of India Act 1955, enacted by the Parliament of India, authorized the Reserve Bank of India, which is the central banking organization of India, to acquire a controlling interest in the Imperial Bank of India, which was renamed the State Bank of India on 30 April 1955.
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State Bank of Bikaner and Jaipur (SBBJ) State Bank of Hyderabad (SBH) State Bank of Mysore (SBM) State Bank of Patiala (SBP) State Bank of Saurashtra (SBS) State Bank of Travancore (SBT)
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2.4. BRANCHES
The corporate center of SBI is located in Mumbai. In order to cater to different functions, there are several other establishments in and outside Mumbai, apart from the corporate center. The bank boasts of having as many as 14 local head offices and 57 Zonal Offices, located at major cities throughout India. It is recorded that SBI has about 10000 branches, well networked to cater to its customers throughout India.
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2.9. PERFORMANCE:
SBI Bank India had Total Profit of Rs.119,49,82,91,000 for the financial year 2009 -2010, Which has increased approximately 8.69% as compared to last years Balance sheet.
2.10. ORGANIZATION:
State Bank of India is headed by Mr. Shri O. P. Bhatt, Chairman.
2.11 THE BANK STANDS FOR BEST PRACTICES AS IT CLAIMS ITSELF AS UNDER: Best practices followed in SBI
People dealing with Customer Place Price Prepayment charges Costs hidden in fine print Transparency
End to End service by Permanent employees of SBI who are accountable to Customer/Account holder. SBI branch of borrowers choice will service his loan account.
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10% 12%
5% 0%
62%
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38
CHAPTER - 3
HOME LOAN PRODUCTS OFFERED BY SBI
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Interest Rate:
Interest rate during the first year (i.e. till first anniversary date from the date of first disbursement) is fixed at 8% p.a .a. Interest rate during next two years is fixed at 9% p. a Interest rate after three years may be Fixed or Floating as per the borrowers choice made at the time of sanction. If floating rate option is chosen, then the rate will be 2.5% below SBAR. If fixed rate option is chosen, then the rate will be 0.75% below SBAR prevailing on the third anniversary date from the date of first disbursement, and shall have a reset frequency of 5 years from the third anniversary date of the loan. Fixed interest rate shall be subject to force-majeure clause. (SBAR = 11.75% p.a.)
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Processing Fee:
The revised processing fee structure (including service tax) from 9th November 2009 is as under:
Loan Amount
Upto Rs.5 Lac Above Rs.5 Lac and upto Rs.10 Lac Above Rs.10 Lac and upto Rs.20 Lac Above Rs.20 Lac and upto Rs.50 Lac
Processing Fee(Revised)
Rs.1000/Rs.2000/Rs.5000/Rs.7,000/-
(Source: www.sbi.co.in)
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Interest Rate:
Interest rate during the first year (i.e. till first anniversary date from the date of first disbursement) is fixed at 8% p.a. Interest rate during next two years is fixed at 9% p. a Interest rate after three years may be Fixed or Floating as per the borrowers choice made at the time of sanction. If floating rate option is chosen, then the rate will be 1.75% below SBAR. If fixed rate option is chosen, then the rate will be 0.75% below SBAR prevailing on the third anniversary date from the date of first disbursement, and shall have a reset frequency of 5 years from the third anniversary date of the loan. Fixed interest rate shall be subject to force-major clause.
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Processing Fee
The revised processing fee structure (including service tax) from 9th November 2009 is as under:
Rs.10,000/-
Above Rs.5 Cr
Rs.20,000/-
(Source: www.sbi.co.in)
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A must-take for those who do not want to pay stamp duty for mortgage of their property or go through the hassles of creation of mortgage. Borrower also has an option to take the loan by way of mortgage of the property and pledge financial securities in lieu of margin money. Repayment is highly customized, giving borrower the option to repay through regular EMIs or through maturity proceeds of the securities pledged.
Customers are also eligible to avail another Housing Loan for construction of house on the plot financed above with the benefit of
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running both the loans concurrently. (House construction should commence within 2 years from the date of availment of SBI-Realty Housing Loan)
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48
49
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provision to sanction personal loans to home loans borrowers with a satisfactory repayment record of 3 years. The rate of interest charged on these personal loans is only 50 bps above the Home Loan interest rate applicable to the repayment tenure opted by the borrower (floating rates only), prevailing as on the date of sanction of SBIHome Line Special Personal Loans.
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3.5. RELATED HOME LOAN PRODUCTS i) Earnest Money Deposit (EMD) Scheme
Many Government agencies, like Urban Development Authorities and Housing Boards, periodically come out with schemes for sale of plots/houses, wherein applicants have to submit 10-20% of the cost of plot/house as Earnest Money Deposit (EMD) and allotments are made by draw of lots. The SBI EMD scheme is designed for financing against earnest money for allotment of a house/plot. Individuals above 21 years of age and with a steady source of income are eligible to avail loans under this scheme. Salient Features of the Scheme: No minimum income criteria. Margin waived in all cases. Eligible for 100% of application money, subject to maximum loan amount of Rs.10 Lacs. Waiver of security in all cases irrespective of the loan amount. The above mentioned features of the scheme are applicable subject to the following conditions:
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7) OTHER SCHEMES:
The bank offers loans schemes known as 'Prashasan Plus', 'Teacher Plus' and 'Oil Plus' to Government Employees, Teachers and employees of public sector oil companies etc at concessional rates. These plus schemes offer concessional interest rate of 0.25% below
the applicable interest rates on Home Loans to niche client groups like Government Employees, Teachers, employees of public sector oil companies and so on
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CHAPTER - 4
TERMS AND NORMS
4.1. ELIGIBILITY
If one is a resident or non-resident individual who is planning to buy a house in India, one can apply for a home loan. If a person has decided to buy a property in the near future, he/she can apply for a loan before even selecting the property. Once the maximum amount to put into the property has been decided, the Housing Finance Institutions or Banks will let the customer know that how much he/she is eligible for and this helps to plan out the budget. coConditions regarding co-applicants: All Housing Finance Institutions lay down conditions on who can be co-applicants. All co-owners of the property need to be coapplicants to the loan necessarily. These institutions do not permit minors to join in as either co-owner or as co-applicants because a minor is not eligible to enter into a contact as per law. They do not permit even friends or relatives who are not blood relatives to take a property jointly. However, Income of co-applicants can be clubbed together to get higher loan eligibility. Given below is a Table that throws light on acceptable relationship of a co-applicant for clubbing of income. Minimum age: 18 years as on the date of sanction
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Maximum age: limit for a Home Loan borrower is fixed at 70 years, i.e. the age by which the loan should be fully repaid, subject to availability of sufficient, regular and continuous source of income for servicing the loan repayment. Eligibility Criteria & Documentation required for Individuals: Salaried Age Income 21years to 60years Rs.1,20,000 (p.a.) Self employed 21years to 70years Rs.2,00,000 (p.a.) 5,00,000 - 2,00,00000 5years-20years 3years 1) Application form with photograph. 2) Identity & residence proof. 3) Education qualifications certificate & proof of business existence. 4) Business profile, 5) Last 3 years profit/loss & balance sheet 6) Last 6 months bank statements 7) Processing fee cheque
4.1: Table 4.1: Eligibility Criteria & Documentation
Loan Amount Offered 5,00,000 - 1,00,00000 Tenure Current Experience 5years-20years 2years
1) Application form with 2) Photograph. 3) Identity & residence
proof.
4) Last 3 months salary
slip Documentation
5) Form 16. 6) Last 6 months bank
salaried.
7) credit statements. 8) Processing fee
cheque.
bank/institution. Letter of original documents held in their custody. Receipts for the total amount of the project issued by builder/seller to the purchaser/bank/institution.
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59
Employment Proof
Identity card issued by borrowers employer Visiting card
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Age Proof
Passport Voter's ID card PAN card Ration card Employer's Identity card School leaving certificate Birth certificate
Residence Proof
Ration card Passport PAN card Rent agreement, if borrowers is staying currently on rent Bank Pass book Allotment letter from borrowers company if borrowers is residing in company quarters.
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Name Change Proof (If Applicable) a. A copy of the official gazette b. A copy of a newspaper advertisement publicizing the name change c. Marriage certificate
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registered, Registration receipt Tripartite agreement from builder/developer Land documents indicating ownership, e.g.- Photocopies of title deeds, if applicable A certificate by the legal advisor of the builder to the effect that the builder has a good reputation and it is free from encumbrance and other charges. A certificate from builder's Chartered Accountant certifying that the builder has not mortgaged the property anywhere else. Certified true copy of approved plan. Copies of receipts of payments made to builder/developer. Allotment letter Possession letter Lease agreement, if applicable (Property bought from a development authority) Mortgage deed if the Bank opts for a registered mortgage. No Objection Certificate from the developer, society or development authority as applicable Personal Guarantees, if applicable.
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In case of alternate or additional security, documents for the same depending upon the security details. For self-construction: Approved plans and clearance certificates along with estimates Post dated cheques for the EMIs.
Deposit or Investments
Evidence of borrowers deposit or investment funds, i.e. a bank statement or term deposit receipt. For low equity loans (5-19% deposit), copy of his savings account statements over the last six months.
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4.3. PURPOSE
The bank offers home loans for purchase and/or construction of house property as well as plot loans.
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Increase up to 5% in the EMI/NMI ratio may be permitted by the sanctioning authority, depending on the availability of disposable surplus income after meeting expenditure towards maintenance of family.
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However, the actual calculation model for EMI could be as model follows: From various resources, it is found that: 1. The EMI break up, for SBI is: 68% - Principal Component and 32% - Interest Component can 2. The way EMI is calculated can be broadly categorized under two heads: Flat rate system and Reducing balance system.
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A flat rate loan is the most expensive as in this case the interest is calculated on the entire loan amount and no principal deduction is taken into account. Thus the effective rate of interest works out to be much higher.
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70
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2.
3.
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bank remember that one liner joke - Why sharks never take lenders? The answer is Professional courtesy.
4.
Pre-EMI:
In case of part of disbursement of the loan, monthly interest is payable only on the disbursement amount. This interest is payable monthly till the final disbursement is made, after the EMIs would commence.
Repairs/Renovation
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4.8. MARGIN
Purchase/ Construction of a new House/ Flat/ Plot of land: The SBI home loan borrower should pay 20% of the cost of home for loans up to Rs 1 crore and 25% for loans above Rs 1 crore.
Loan Amount Up to Rs. 75 Lacs Above Rs. 75 Lacs. Margin (Min.) 20% 25% Maximum LTV*Ratio (Max.) 80% 75%
Repairs/ Renovation of an existing House/ Flat: 20% *LTV ratio - Loan to value ratio=Loan amount/Value(project)
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4.9. SECURITIZATION
In most cases, the property to be purchased itself becomes the security and is mortgaged to the bank till the entire loan is repaid. Equitable or Registered mortgage of property (or) Other tangible security of adequate value like NSCs, Life Insurance policies etc., if the property cannot be mortgaged
4.7: Table 4.7: Securitization (Source: Researchers methodology)
Processing Fee:
The revised processing fee structure (including service tax) from 9th November 2009 is as under: Loan Amount Processing Fee (Revised): Loan Amount Up to Rs.5 Lac Above Rs.5 Lac and up to Rs.10 Lac Above Rs.10 Lac and up to Rs.20 Lac Above Rs.20 Lac and up to Rs.50 Lac Above Rs.50 Lac and up to Rs.1 Cr Above Rs.1 Cr and up to Rs.5 Cr Above Rs.5 Cr
4.8: Table 4.8: Processing fee amounts
Note: 75 % of the processing fee may be refunded in the following cases: Rejection of loan application on account of unsatisfactory presanction survey report. Rejection of loan application on account of unsatisfactory legal/valuation reports. In cases where applications are sanctioned or rejected after complete loan processing, fee will not be refunded. (ii) Legal Charges: Advocate's fee for property search and the title investigation report. a. Legal Fee/charges: Rs.1500/b. Govt. Stamp duty: 0.25% of loan amount as stamp duty at the time of equitable mortgage creation at the Bank. c. Approx Govt. Stamp papers of Rs.1500/-(approx) for execution of loan documents at the time of sanction (Legal/Engineer/Processing fee cheques to be paid at the time of submission of application form to the bank. Govt Stamp duty of 0.25 %( prevailing now) of the loan amount and Rs750/- approx to be paid at the time of documentation of loan. Insurance will be done after the registration of the property.) (iii) Valuation Charges: Valuer's fee for valuation report. Engineer's Valuation fee: Rs.1, 500/76
4.10.2. Post-sanction Fees .10.2. Posti) ii) Stamp duty payable for Loan agreement & mortgage. Property insurance premium: Insurance: Insurance of property building against
fire/earthquake etc with New India Assurance Company to be done. iii) Service Charges Payable to builders who have been engaged as Marketing Associates.
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SBI ADVANTAGE HOME LOAN (JULY 2010) Interest rate for proposals sanctioned between 1st July 2010 and 30th September 2010.
Loan amount Interest during first year 2nd & 3rd year Above Rs.50 Lacs 8% p.a.(Fixed) 9% p.a.(Fixed)
Floating interest rate after 2.25% above the Base Rate, Currently 3rd year effective rate being 9.75% p.a.
Fixed interest rate after 3rd 3.50% above the Base Rate prevailing at the year Time of reset, with a reset frequency of 5 years.
4.10: Table 4.10: Rate of interests of SBI Advantage home loan
(Source: www.sbi.co.in)
4.12. MORATORIUM
Up to 18 months from the date of disbursement of first instalment or 2 months after final disbursement in respect of loans for construction of new house/ flat (moratorium period will be included in the maximum repayment period)
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4.13. GUARANTOR:
The bank insists on a Guarantor till the property is registered/title transferred on borrowers name and Equitable Mortgage registered in favour of the bank. Guarantor details in the application with Assets & Liabilities duly filled in along with the above mentioned documents are required. For Takeover Loans From Other Banks Guarantor Is A Must An eligibility criterion of guarantor is that: 80% of the net credit worthiness of the guarantor should be more than the loan amount (takeover amount). The Title holders of the property should ONLY be the borrowers. If the agreement is on the joint names (maximum three persons), then the Sale deed also should be on the joint names and the loan also will be on the joint names. The same is also applicable for take over loans. i.e. Joint Owners then Joint name in the loan application / Single Owner then Single name in the loan application.
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fire/riots/earthquake/lighting/floods etc. in the joint names of the borrower and the bank for the actual project cost after netting off the cost of land, stamp duty an registration charges. People seeking home loan often encounter such worries like what if anything happens to them in that case what would happen to the home loan? Naturally, their main concern is that should something happen to them their folks would have to encounter the problem of facing the impact of repaying the loan debt. Home loan insurance is completely different from home insurance. This type of insurance covers the amount of home loan borrower owe to the bank. This doesn't include the amount he has already paid but the amount still to be paid and evidently his family members will not face the problem of paying the amount being owed to the bank but the insurance provider will bear the brunt of the same. The insurance companies are not very impending about how much amount is to be paid as part of the insurance premium as the premium amount varies depending on the case. The premium amount broadly relies on conditions like - age of the person availing the loan (the younger the person, the lower the premium amount); loan amount (the lesser the loan amount, the lower the premium); period of the loan (the more the loan repayment
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period, more is the premium); another important factor is the health of the loan taker (the premium amount would be low in case of good health of the individual). SBI offers mortgage life insurance policy to the SBI home loan applicants thereby consolidating the insurance premium along with the EMIs. The State Bank of India offers a free personal accident insurance cover to their clients availing home loan so that the client's family doesn't have to face any problem if he/she meets an accident that proves to be fatal.
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empanelled architect / engineer irrespective of loan amount. Disbursement to be made according to the stage of construction. Construction of new dwelling unit For loans unto Rs. 2 laces at rural /semi-urban branches, the sanctioning authority may waive valuation as above and my assess the valuation based on market prices by enquiry and a certificate by the contractor/engineer involved in construction. Purchase of second sale plot /dwelling units Valuation report obtained from the empanelled architect/engineer/valuer irrespective of the loan amount and age of the property. For loans up to Rs 20 lacks, reasonableness of the price mentioned in the underlying sale
did/agreement to sale etc. ascertained by the Purchase of new dwelling units sanctioning authority as per prevailing market prices. For loans above Rs.20 lacks, valuation report obtained from an external empanelled architect/ engineer / valuer. Purchase of plot for constructions of Property regional dwelling unit from regional govt. housing development authorities
4.11: Table 4.11: valuation policies
valued
at
cost
price
as
per
the
agreement of sale/lease.
CHAPTER - 5
SYSTEMS AND PROCEDURES
5.1. STAFF INVLOVED AND THEIR ROLES
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The staff do undertake several initiatives with the prospective customers at these Fairs itself like: Enquiries Guidance Instructions Requirement Specifications Application forms distribution Application Approvals and Customer Services
(b) DISTRIBUTION:
State Bank of India supplies and sells its home loan products through its over 11,440 branches nation-wide and associated RACPCs.
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Legal Opinion:
Empanelled Lawyer(s) does submit the Title Deed verification and the search report for 30 years in respect of properties of the customer. The legal clearances/ opinion of the flat/property which borrower is buying / staying /constructing have to be obtained from an advocate from Bank panel. Submission of legal documents & legal check. The search report reveals encumbrance on the property based on which the grant of loan can be avoided and the prospect borrower may be asked to rectify it.
Valuation check:
The Engineers valuation of the property and estimate for the construction to be obtained with bank panel engineer. In case of takeover loans, two panel engineer valuation is required and the least value between them should be more than the takeover amount.
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PRECAUTIONS TO BE TAKEN: Applications form to be complete in all respects. Market information about the potential borrower should be gathered. Pre-sanction survey should be conducted wherever required. The authenticity of salary slip, form 16 return, and proof of identification, address and income etc. should be cross checked. Income from all sources is to be considered, wherever applicable, when the sanctioning authority is satisfied about the quantum and uninterrupted flow thereof during the tenure of the loan.
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5.3.5. DISBURSEMENT
The disbursement is made in phases correlating to the actual progress made in the construction. The proper end-use of funds is ensured by visits to the sites. Certificate from the engineer may be required to be submitted by the borrower stating the status of the project. By BC/DD crossed A/c Payee only incorporating the
builders/sellers A/c No. and bankers name and sent directly to builder/seller by Regd. AD/Speed Post.
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5.3.7. REPAYMENT
Loan repayment options: SBI lays down certain rules and regulations pertaining to the repayment of loans. The loan applicants can repay the amount in the form of equated monthly installments. The repayment is allowed up to the age of 70 years. Repayment period: Maximum 25 years (or) Up to the age of 70 years (the age by which the loan should be fully repaid) of the borrower, whichever is early. MAXIMUM REPAYMENT PERIOD: For applicants up to 45 years of age: 25 years For applicants over 45 years of age: 15 years Moratorium period (Repayment holiday): The moratorium period is included within the maximum repayment period.
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5.3.8. PRE-CLOSURE
Pre-closure is allowed by the Bank at any time after the complete disbursal and before the actual tenure. If the loan is pre-closed from own resources for which proof is submitted by the customer, penalty is not levied irrespective of period for which the a/c has run. PrePre-closure Penalty: No penalty if the loan is pre-closed from own savings/windfall gains for which documentary evidence is produced by the customer. In case, such proof is not produced by the borrower, penalty @2% on the amount prepaid in excess of normal EMI dues shall be levied if the loan is pre closed within 3 years from the date of commencement of repayment
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Various Recovery Procedures State Bank of India adopts various recovery procedures to recover the debt from its defaulters. The various recovery procedures are mentioned below: Reasons For Default : There are various reasons for default like mismanagement, diversification of fund, short fall in investment, will fall default etc. So a credit manager should take various factors into account before lending a loan. Demand Notice: When a defaulter does not repays loan a demand notice is issued to him that he has to repay his loan with a stipulate time period. Legal Notice: When a defaulter does not respond to the demand notice a direct notice is issued to him that if he does not repay the loan action would be taken against him legally and the court notice is issued against him. Transfer To NPA Account: When a defaulter does not respond to respond to any legal notice or he becomes bankrupt the Whole account is transferred to NPA account.
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authority of the bank. Furthermore, it is also possible to meet an SBI senior official directly through a special service known as Public Grievance Cell Facility and get solutions instantly. This facility is available at all SBI branches across the nation and to avail the same borrower need not take prior appointment or permission. An Individual can access SBI home loan customer care service through toll-free numbers and also through Internet. Though the customer care toll free numbers are different for each city, the services provided there remain the same, comprehensive, instant and bearing the quality standard of State Bank of India. SBI Home Loans Customer Care Number (Toll Free):
Ahmadabad: Bangalore: Bhopal: Chennai: Delhi: Patna: Guwahati: Hyderabad: Kolkata: Lucknow: Mumbai: 1800 233 7933 1800 425 8002 1800-233-7551 1800 425 4424 1800 11 4545 1800 345 6100 1800-345-3631 1800 425 3888 1800 345 3455 1800 180 5201 1600 22 8866 Ahmedabad: Bangalore: Bhopal: Chennai: Delhi: Guwahati Hyderabad: Kolkata: Lucknow: Mumbai: helpline.lhoahm@sbi.co.in sbihelpline.lhoblr@vsnl.net mysbi@sbi.co.in helpline.lhoche@sbi.co.in helpline.lhodel@sbi.co.in luithelp@sify.com helpline.lhohyd@sbi.co.in sbihelpline.lhokol@sbi.co.in sbihelp@sancharnet.in helpline.lhomum@sbi.co.in
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CHAPTER -6
PERFORMANCE EVALUATION
6.1. COMPETITORS
S.No. Competitor Severity of Competition(Low/moderate/High)? 1 ICICI low 2 HDFC moderate 3 Andhra Bank low 6.1: Table 6.1: Competitors (Source: Researchers methodology)
Interpretation: Majority of the competitors for the bank are from private sector in region. The closest competitor for the bank is HDFC .Virtually; there was an ad war with teasing rates between the two banks. Others include the local player Andhra bank and the private giant ICICI.
Interpretation: The biggest strength of the bank has been its large distribution network and able workforce. The weakest elements of the institution are the long processing times and the shortage of staff.
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Interpretation: There has been steady increase in the home loan book size of SBI In the year 2009 2009-10, the size had grown to 71,193 cr from 54,063 cr in the year 2008 09, which implies the size had 2008-09, doubled in two years.
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08-09, 09-10) (Source: SBI Annual Report 08 SHARE OF HOME LOANS IN TOTAL ADVANCES. 2009FOR 2009-10
23%
77%
Interpretation: The home loan segment had got a small i.e., 23% share in the total retail segment of advances by the branch in the year 2009 200910. The other retail advances like car loans, educational loans, personal loans etc got the 77% share of total retail advances of Rs. 8,11,12,858 crores in the year.
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Interpretation: Advances amounting to Rs. 4,16,730 lacs went default out of the total advances in the year 2008 2008-09. That implies the ratio of NPAs to total Advances is 1.72%, Of course well within the limits.
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(Source: www.consumercomplaints.in)
Nature of Complaints(% of total) for the year 2009-10 20096 10 5 7 11 19 13 Tedious Procedures Delays in Processing Transparency Negligence by staff Lack of/improper guidance Insurance cover Teasing interest rates 12 Hidden charges
Interpretation: Majority of the customers are very much concern about the unreasonable delays in processing. Operational systems used by SBI are so complex. The transparency level of the bank is maintained low. Most of the existing customers are demanding for uniform demanding rates.
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RECOMMENDATIONS
On the basis of the collected data and the analysis along with detailed discussion made in conclusion of this report, some suggestions can be made to the bank which will be helpful to them in improving their services operational and financial performance. These suggestions have been discussed as follows: 1. Using Information Technology and Electronic Data Interchange at various stages of lending process would definitely give an edge to the bank in fighting competition and arrive at a more realistic lending decision. E.g.:
Use of Central Mortgage Registry (proposed in the Budget2010 to be set up) for Title/Deed verification, which will ensure that no two borrowers in the country will be able to raise institutional loans against the same asset. This would help the bank in reducing NPAs.
Use of credit appraisal reports from CIBIL or Credit Information Companies (CIC) to avoid frauds. Online Processing for various inspections and verifications etc. Online Disbursals and Repayments.
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2.
To increase their customers, the bank should provide specialized services in this sector. These services can be such as proper guidance to the customer regarding the processing of loans, especially for the customers who are illiterate.
3.
To satisfy their customers and for good dealings in future, the bank should make prompt disbursement of loan amount to the customers so that they can buy or construct their dream home as early as possible.
4.
The Bank should use easy procedure, or say, less lengthy procedure for the sanctioning of loan to the customer. There should be less number of legal formalities, in case this exists, then, these should be completed in less time. This will be helpful in attracting more customers.
5.
Although the interest rates on specific norms, yet customers seek uniform interest rate giving equal justice to both the existing as well as new customers.
6.
The bank should improve their overall services to increase the number of customers for home loans. They should recruit professionals to provide such services and to satisfy the customers.
7.
Although SBI Bank is a market leader in 'home loans' sector but they should innovate their services, viewing the- increasing competitions from other banks such as HDFC.
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8.
The Banks should try to provide proper knowledge regarding their home loan schemes, even to people who don't know about such schemes and their benefits especially in rural areas. So they should provide knowledge to the ignorant customers, especially in rural areas and backward urban area.
9.
So, above are the main suggestions provided to the banks. By considering these suggestions, the banks can strengthen their customer base in home loans sector.
10. They should improve their services and reduce legal proceedings and should be friendly to their customers. 11. The bank needs to take serious and sincere steps in reducing the processing times by taking certain measures like using Information Technology to process the documents.
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CONCLUSION
The ratio of mortgage to GDP in India has remained low at 7%, as against 12% for china, 41% for Hong-Kong and more than 80%foor developed countries, thus providing for further growth in the housing sector during the coming years. Hence, the banks shall have more opportunities to tap the market. Banks have been constantly increasing their market share, there by intensifying competition from other banks as well as Housing Finance Companies. While the discounted / special scheme rates are offered to new home loans, existing customers continue to ply higher rate of interest. The Indian Banks Association has planned to introduce a uniform rate for all borrowers. As being a Largest Lender in the segment SBI needs to carry the same spirit and the move is in the right direction is certainly expected from all the banks. We need to watch how banks / HFCs adjust their lending portfolios to this effect in future. Last, but not the least, you may be the King in the Market, but, the Indian customer is your Boss by whom, finally, your decision has to be moulded.
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APPENDIX
QUESTIONNAIRE
(BANK OFFICIAL)
Dear Sir/ Madam, As part of my T.Y.BANKING & INSURANCE curriculum, I, BAKALKAR AMIT, am undertaking a study Project on Home Loans for which I need your views regarding banking products & services in shape of a questionnaire designed by me. The data being collected are solely for academic purpose. I request you to kindly extend your co-operation. 1) How many Home Loan Products that your Bank is offering to the prospect
customers? Sr.No. 1 2 3 4 5 6 2) 3) What are the unique features of your offerings? How are you rewarding your customers who service their loans regularly Product/Scheme Customer Segment Interest Quantum of Tenure Amount rate
and stand up to your expectations? 4) What are the Value Added Services, if any, that you are offering to the
customers? 5) What are the concessions, if any, that you are offering to the customers?
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6)
What are your strengths and weaknesses in the segment? S.NO. Strengths Weaknesses
7)
Who are your main competitors and whats the level of competition you
face from them? Sr.No. 1 2 3 4 8) How are you promoting your products? Medium used Print Media TV Advertisement Personal Selling Campaigns Road-Side Hoardings 9) How are you distributing your Products? Channel (Sanctioned by) Proportion of use (low/medium/high) Any additional Info Competitor Severity of Competition (Low/Medium/High)?
S.NO. 1 2 3 4
Terms/Conditions
Proportion of Sales
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10)
What is the Process Undertaken (within your branch) What is done (operations) /considerations
S.NO 1 2 3 4 5 6 7 8 9 10 11
Stage Promotion Guidance to prospective Application submission Pre-Sanction Process Sanction Post-Sanction Process Valuation Inspections Legal Sanctions Disbursement Post-Disbursement Inspections
Who does it
11)
How do you see the performance of Marketing Associates and their role in
bringing sales? 12) How many sales you have made from Marketing Associates? Number of Sales from MAs Total Sales % of Total Sales 13) What are the various standard formats (Proforma Sheets) that you use at
various stages? Title of the Sheet Primary Contents Purpose Who Maintains it
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14)
What did your customers prefer (Fixed/Floating Interest Rate)? Type of Interest Rate Fixed Floating Number of Borrowers
15)
What is the Authority Structure for distribution of Loans: Terms/Conditions Sanctioned by Authoritative organ Administrative Clearance by
How are the builders considered and approved? What is the criterion for Repayment? What are the Pre-Closure norms? What is the criterion for Re-Phasement? How are you providing for Bad Loans? What is the Recovery Mechanism that you practice? What is the nature of recovery agents? How do you undertake Take Overs?
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24)
Disbursed? Customers Have shown interest in buying your products Applied(Applications) Approved Sanctioned Disbursed 25) How many Home loans you have disbursed to: Target Segment Individuals from Weaker sections Mortgage loans Salaried individuals Self-Employed individuals Realtors Your Staff 26) Number of accounts Amount (Rs.) Number of Proposals
What was the purpose of home loans towards which disbursements have
been made? Purpose To Pay for First homes To Purchase second homes To Improve/renovate existing homes Number of Accounts Amount(Rs.)
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27)
NMI Profile of Customers: NMI Range Up to Rs.2 Lacs Between Rs.2 Lacs and Rs. 5 Lacs Above Rs.5 Lacs No. of Borrowers Total Amount (Rs.)
28)
Loan Amount Disbursals: Loan Amount Upto Rs.5 Lac Above Rs.5 Lac and up to Rs.10 Lac Above Rs.10 Lac and upto Rs.20 Lac Above Rs.20 Lac and upto Rs.50 Lac Above Rs.50 Lac and upto Rs.1 Cr Above Rs.1 Cr and upto Rs.5 Cr Above Rs.5 Cr No. of Borrowers
29)
Size Of Home Loan Book for the last 3 financial years: Financial Year 2006-07 2007-08 2008-09 Amount(Rs. crores) lent
30)
Year-on-Year Credit Growth : Financial Year 2006-07 2007-08 2008-09 % growth rate
31)
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32)
How many Home Loans have been Taken Over from other Banks: Bank Number of Accounts Amount (Rs.)
33)
How many Outstanding Loan accounts are there? Number of Accounts Outstanding Total Amount Outstanding(Rs.) Total Outstanding/Total Advances (%)
34) 35)
How are you mitigating risk factors in lending to the segment? What is Net Income Generated on the segment?
36)
How many complaints have been reached at Banking Ombudsmans 37) Office?
Total Complaints
% of total
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QUESTIONNAIRE
(CUSTOMER) Name.__________________________________________________________ Age.______ Occupation.__________________________________________ Income Married Rs. /Unmarried Yes No Monthly Annual
from which Bank/Financial institutions___________________________ Amount Rs. /Floating EMI Rs. Rate % /-
Purpose: For First Home....................... For second Home.................... For repairing Existing Home Any Complain regarding Home loan You have taken _______________ _______________________________________________________________
__________________________________________________________________________________
Purpose: For First Home....................... For second Home.................... For repairing Existing Home
Signature
Thank you.
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BIBLIOGRAPHY
BOOK Jain J. N, Modern Banking & Principles & Techniques New , Techniques, Delhi, Rejal Publication. MAGAZINE Outlook Money, 21 Home loan essentials to know now, 8 September 2010. NEWS PAPERS Economic Times of India and DNA Economic Times DNA 17 Aug 2010 25 March 2010 20 March 2010
Article Dates
WEB RESOURCES: i. ii. iii. iv. v. vi. vii. viii. ix. www.statebankofindia.com www.onlinesbi.com www.apnaloan.com www.consumercomplaints.in www.Consumercourt.in www.lendingtree.com www.guide2homeloan.com www.indiahousing.com www.deal4loans.com
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OTHER RESOURCES 1. The Training and Guidance Material supplied to the staff of the Branch. 2. Annual Reports of RBI(made available on its website
(www.sbi.co.in)
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