SBI and S Pallonji inks housing loans agreement pact

State Bank of India (SBI) and Shapoorji Pallonji Real Estate have signed a Memorandum of Understanding (MoU) to enable an improved and more seamless process for homebuyers across India. As part of the agreement, which includes various co-promotional activities and outreach initiatives, customers of SBI and Shapoorji Pallonji Real Estate will be able to avail the benefits of faster processing of home loans and approvals along with other unique value add schemes. The MoU was signed by Shreekant, Head and Chief General Manager of Real Estate & Housing Business Unit (REHBU) vertical SBI, and Venkatesh Gopalkrishnan (CEO, Shapoorji Pallonji Real Estate). This collaboration with Shapoorji Pallonji Real Estate will create win-win business opportunities for all stakeholders. The bank sanctions home loan in five days to all approved projects and this is the key benefit for the customers, besides the complete waiver of legal and valuation charges. The tailor-made home loan products, dedicated home loan processing centres, door-step banking services, robust feet on the street, strong networks, usages of cutting-edge technology among others, have made the preferred choice amongst home loan customers. CGM, SBI, said that the bank will roll out Retail Loan Management System (RLMS), a technological platform providing an end-to-end solution for Home Loans, as early as March 2021 that will further streamline the Home Loan acquiring and processing by significantly reducing turnaround time. Similarly, CEO, S. Pallonji, reiterated that the company is delighted to partner with SBI to offer specially designed products to the customers serviced by both companies. For customers, it would mean more choice to avail innovative offerings, including attractive home loan rates and faster approvals while buying homes.