State Bank of India (SBI) has entered into a tripartite memorandum of understanding (MOU) with online financial product aggregator bank bazaar.com and the bank’s subsidiary SBI CAP Securities Ltd. (SSL) to display its housing loan products on the bank bazar website.
This partnership will help the bank to provide yet another online platform to the prospective tech savvy home loan borrowers to apply for SBI Home Loans online. Under this arrangement, the bank will be able to offer its home loan products on bankbazaar.com, generate leads and provide door-step delivery, thus improving the response time.
Bankbazaar.com offers end to end solutions to the Home Loan seekers from getting the customized quotes, comparison of the offers and submission of online application to SBI.
The tie up with bankbazaar.com also highlights SBI’s strategy to augment its Home Loan portfolio by leveraging digital channels and increasing its presence in the digital/online space.
Adhil Shetty, Managing Director and Chief Executive Officer of bankbazaar.com, Mani Palvesan, Managing Director of SBICAP Securities Ltd. and J. Lakshmi, Chief General Manager (Real Estate & Housing Business Unit) of SBI were present on to occasion.