SBI Launches RBBG Scheme; HomeBuyers Interest To Be Protected

Bearing the tagline "Aapka bharosa SBI ka" SBI has come with a new home loan scheme that is in the interest of home buyers. Titled as Residential Builder Finance with Buyer Guarantee (RBBG). This is a scheme in which public sector lenders will provide a guarantee against the completion of the housing project to individuals who avail home loan from SBI.

SBI Launches RBBG Scheme; HomeBuyers Interest To Be Protected

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."

"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.

In the recent past, real sector has been under severe stress and homebuyers were being reluctant to delve their hard earned money.

We believe that RBBG will build confidence among home buyers by securing their hard-earned money and at the same time will boost under-stress real estate sector.
"This product is yet another effort by SBI to make affordable housing conveniently accessible to the individuals with dreams of owning their desired home. Based on the response from both builders and customers, we may consider extending this product to other parts of the country", said Rajnish Kumar on the launch.

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