Avail home loans at SBI’s 3-day Utsav

State Bank of India (SBI) plans to organise a three-day SBI Utsav from September 14 to 16 at its local head office campus.

C Venkat Nageswar, general manager (Network-1), said 55 builders and 15 car dealers are expected to participate in the event. “We expect 2,000 to 3,000 footfalls each day. The advantage of the event is instant sanctioning of home loans. The processing fee has been reduced to Rs1,000,’’ he said. The Utsav will provide a one-stop solution for the property buyers. “We offer home loans at 10.25% for loans up to Rs30 lakh and 10.40% for loans above Rs30 lakh. We offer car loans at 10.75%,’’ he said.

The bank sanctioned Rs665 crore worth of loans during a similar event held last year. “We are looking at 25% increase in sanctioning loans over last year,’’ he said. Leading developers will be showcasing their properties on offer. “To facilitate smooth finance, SBI will issue on the spot home loan approval letter to the purchaser. It has completed the due diligence of 190 housing projects in Bangalore. “We have also opened two more retail assets central processing centres in the city,” he said.