SBI tops home loan chart with 67% market share

SBIWith most of the Indian banks turning aggressive in their low-interest home loan offers, State Bank of India dominated the segment sanctioning a mammoth 67 per cent of the Rs. 45,000 crore cheap home loans offered during 2009, reports suggested on Thursday.

While SBI sanctioned almost Rs. 30,000 during the year, HDFC remained a distant second with a total sanction of Rs. 9,000 to Rs. 9,600 crore under its various special offers for home loan seekers, CNBC-TV18 reported.

However, such teaser home loan schemes from other state-run banks received only a lukewarm response during the period.

As per records, while Bank of India sanctioned only Rs. 289 crore in a time frame of seven months, Punjab National Bank, IDBI Bank and Union Bank disbursed nearly Rs. 1,050 crore, Rs. 1,500 crore and Rs. 1,600 crore respectively over a time span of six months.

Among private sector banks while leader ICICI Bank did not disclose its figures, Axis Bank sanctioned Rs. 800 crore under its teaser home loan schemes.

With the proposed Union Budget giving certain relaxations competitions among these banks for home loan disbursement is set to further intensify this year.