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SBI launches ‘guarantee’ plan for home buyers to safeguard their interests
In a bid to protect home buyers’ interests, the State Bank of India (SBI) on Wednesday launched Residential Builder Finance with Buyer Guarantee (RBBG), a scheme through which the public sector lender will issue guarantee for completion of housing projects to customers availing SBI Home Loans.“RBBG will focus on affordable housing segment with home price of up to Rs 2.50 crore in seven Indian cities initially,” a statement issued by SBI said.
It added: “Under this product, all reputed builders fulfilling the prescribed criteria by the bank can avail loan between Rs 50 crore to Rs 400 crore. Criteria includes Star rating and CIBIL score.”
The real estate sector in the country has been burdened by financial stress in recent years and has seen many of the companies go under, making housing projects a precarious investment for home buyers.
Visit: https://blog.pinclick.com/sbi-launches-guarantee-plan-for-home-buyers-to-safeguard-their-interests/
