SBI and Shapoorji Pallonji Real Estate sign MoU; Bank to roll out RLMS

By Edil Corneille

State Bank of India (SBI) and Shapoorji Pallonji Real Estate signed a Memorandum of Understanding (MoU) to enable an improved and more seamless experience for homebuyers across India. Customers of both parties will be able to avail the benefits of faster processing of home loans and approvals.

Shreekant, CGM, REHBU, SBI said, “This collaboration with Shapoorji Pallonji Real Estate will create win-win business opportunities for all stakeholders. We sanction Home Loan in five days in all our approved projects, which is the key benefit for the customers apart from complete waiver of legal and valuation charges. Our tailor-made Home Loan products, dedicated Home Loan processing centers, door-step banking services, robust feet on the street, strong networks, usages of cutting-edge technology among others, have made us the preferred choice amongst Home Loan customers. 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.”

Venkatesh Gopalkrishnan, CEO, Shapoorji Pallonji Real Estate said, “We are delighted to partner with State Bank of India to offer specially designed products to the customers serviced by both the companies. For our customers, it would mean more choice to avail innovative offerings, including attractive home loan rates and faster approvals while buying homes. The new tie-up will cover our new and existing housing projects across key markets.”

The Real Estate portfolio of the State bank Of India has surpassed INR 5 trillion recently. The bank has a total of 4.2 million home loan customers. On average, SBI is said to onboard more than 1,000 home loan customers per day.