Bank of Baroda: 23-25 pct home loan growth

Public-sector lender, Bank of Baroda has seen its home loan portfolio growing by 23-25 per cent during April-November, and expects the growth to pick up further in the next quarter, a BB official said.

“From April to November, 2009, the growth (in home loans) has been a healthy 23-25 per cent. We expect this momentum to continue in the coming quarter as well,” the official said.

The bank, however, did not have any immediate plans to follow its competitors to offer home loans at 8 per cent but may look at the possibility in future after assessing the market conditions, the official said.
“As of now, we are not looking at launching any such schemes, as the growth (in home loans) has been quite healthy even without any such strategies. May be, we will look at it later,” the official said.

Bank of Baroda currently offers home loans at a rate ranging from 8.5 per cent to 10.5 per cent, based upon the loan amount and tenure of the advance.

A host of lenders, including the country’s largest lender, State Bank of India and its nearest competitor ICICI Bank had announced similar home loan schemes to woo the spiring home buyers.
As on September, Bank of Baroda’s total retail loan book stood at around Rs 21,000-crore, out of which home loans contributed around 45 per cent, the official said.

The lender has also maintained a healthy asset quality on its home loan portfolio, the official said.
Its gross non-performing assets from the home loan segment presently stands at around 2 per cent.
SBI was the first to come with the dual rate home loan scheme early this year, which was followed by other leading players like ICICI Bank, Kotak Mahindra, Axis and leading housing loan financer, HDFC.

Public-sector lender, Bank of India also have plans to offer fixed rate of 8 per cent for two years for new home loans upto Rs 30-lakh from the new year.

Available Products :-

• Bank of Baroda Personal Loan
• Bank of Baroda Home Loan

Related Articles:

The Best Business Books Ever: The 100 Most Influential Business Books You'll Never Have Time to ReadFrom The Art of War to Being Digital-the 100 books that have shaped management thinking and practice.

Given the urgency and immediacy of so many b... Read More >

Start Your Own Business

YOUR ROAD MAP to BUSINESS SUCCESS

From the editors of Entrepreneur magazine, this bestselling business startup book has helped hundre... Read More >

Small Business For DummiesWant to start the small business of your dreams? Want to breathe new life into the one you already have? Small Business For Dummies, 3rd Edition provi... Read More >

Good to Great: Why Some Companies Make the Leap... and Others Don't

The Challenge
Built to Last, the defining management study of the nineties, showed how great companies triumph over time and how long-term sust... Read More >

The Secret Language of Business: How to Read Anyone in 3 Seconds or LessThe Secret Language of Business reveals the secrets of body language and nonverbal communication. Successful professionals need more than just good co... Read More >

HTML Version:

Text Version:

Article Url: