The Wadhwa Group and State Bank Of India signs MoU to offer hassle-free and faster home loan service for customers

Mumbai: The Wadhwa Group, one of India’s leading real estate development companies and a prominent realty player in Mumbai, has recently signed a Memorandum of Understanding (MoU) with State Bank Of India (SBI), the country’s largest lender with a portfolio of Rs 5 lakh crore AUM. The MOU between SBI and Wadhwa Group Holdings Pvt Ltd was signed to enable an improved and more seamless experience for homebuyers.

Commenting on the collaboration, Mr. Navin Makhija, Managing Director, The Wadhwa Group said, “We are delighted to partner with the most trusted home loan provider State Bank of India to offer specially designed products to the customers. For our customers, it would mean more choice to avail innovative offerings, including attractive home loan rates and faster approvals while buying homes. This tie-up will cover our new and existing housing projects across key markets in Mumbai. This collaboration with SBI will create win-win business opportunities for all stakeholders.”

A dedicated team will be allotted by SBI for each of the projects assigned by the developer. As part of the agreement, customers of SBI and The Wadhwa Group will be able to avail the benefits of faster processing of home loans and approvals along with other unique value add schemes.SBI has a special campaign going on up to 31st December 2021, wherein processing fees are waived and ROI rates have been reduced to 6.70%* subject to a CIBIL score of 800 plus score. SBI is providing only5 days TAT for loan disbursement and there are no prepayment and part payment charges involved to the customers. Mentioning the loan tenure, SBI grants a maximum tenure of 30 years up to the borrower attaining the age of 70 years.

The MOU between SBI and Wadhwa Group Holdings Pvt Ltd is associated with certain projects as per Annexure A of the MOU are The Address at Ghatkopar, Wadhwa Pristine & W-54 at Matunga, Anmol Fortune at Goregaon, Atmosphere O2 at Mulund West, TW Gardens at Kandivali, Dukes & Epicentre at Chembur, Wadhwa Wise City at Panvel, Aquaria Grande at Borivali along with Elite Platina & Solitaire at Thane.