SBI, CREDAI ink MoU for concessional loan for housing projects

State-owned SBI and realtors' body CREDAI have signed an agreement to provide loans at a concessional rate to builders as well as customers for affordable housing projects.

SBI and CREDAI have signed a memorandum of understanding (MoU) to collaborate and work towards the development of the real estate sector, specifically through the affordable housing and green housing projects.

The duration of the agreement is for a period of three years, State Bank of India (SBI) said in a statement.

"We have signed an MoU with CREDAI. We will be providing 10 basis points concession to home buyers and 10-35 basis points to CREDAI's developer members," SBI Managing Director (National Banking Group) Rajnish Kumar told

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