Home loan portfolios in Q1 indicate no harm caused by Covid-19

18 Aug 2021 CW Team

Covid-19 has not deterred home purchasers, according to the first-quarter figures of home loan portfolios from major banks.

A comparison of bank housing loan data for the first quarter reveals a significant increase ranging from 6% to around 14% when compared to the corresponding quarter in FY22.

The home loan portfolio of State Bank of India increased by 11% to Rs 5,05,473 crore in the first quarter of the current fiscal year ended June 30, accounting for 23% of the bank's total domestic advances, up from Rs 4,55,443 crore the year before.

SBI and other banks have seen a hike in home loan demands despite the Covid-19 pandemic. The house loan portfolio of Canara Bank grew 13.15% to Rs 65,136 crores during the same time period.

The growth in the portfolio was only 10.6% in 2020. Punjab National Bank, which grew by 6.1%, is also in the same league.

A senior SBI official explained that the bank employees braved the pandemic and that loan application processing and disbursement were not hampered. In the absence of increased corporate loan growth, a greater emphasis has been placed on retail loans, of which home loans make up a significant portion.

Home loans are growing in line with the market, according to Sanjiv Chadha, Managing Director and CEO of Bank of Baroda.

Home loans, along with gold and car loans, are seen as very safe for business during pandemic times, as per bankers. Analysts claim that home loan growth is expected to continue this year.

Banks are also stepping up their efforts to keep the economy growing. SBI has increased its focus on residential mortgages.

It announced a full waiver on processing fees until August 31 as part of its Monsoon Dhamaka offer.

The processing fee was 0.40% prior to the offer. Other banks are preparing special offers for the upcoming festival season to entice customers.

Image Source

Also read: Housing sales notes 75% growth in H1 2021: CBRE South Asia

Covid-19 has not deterred home purchasers, according to the first-quarter figures of home loan portfolios from major banks. A comparison of bank housing loan data for the first quarter reveals a significant increase ranging from 6% to around 14% when compared to the corresponding quarter in FY22. The home loan portfolio of State Bank of India increased by 11% to Rs 5,05,473 crore in the first quarter of the current fiscal year ended June 30, accounting for 23% of the bank's total domestic advances, up from Rs 4,55,443 crore the year before. SBI and other banks have seen a hike in home loan demands despite the Covid-19 pandemic. The house loan portfolio of Canara Bank grew 13.15% to Rs 65,136 crores during the same time period. The growth in the portfolio was only 10.6% in 2020. Punjab National Bank, which grew by 6.1%, is also in the same league. A senior SBI official explained that the bank employees braved the pandemic and that loan application processing and disbursement were not hampered. In the absence of increased corporate loan growth, a greater emphasis has been placed on retail loans, of which home loans make up a significant portion. Home loans are growing in line with the market, according to Sanjiv Chadha, Managing Director and CEO of Bank of Baroda. Home loans, along with gold and car loans, are seen as very safe for business during pandemic times, as per bankers. Analysts claim that home loan growth is expected to continue this year. Banks are also stepping up their efforts to keep the economy growing. SBI has increased its focus on residential mortgages. It announced a full waiver on processing fees until August 31 as part of its Monsoon Dhamaka offer. The processing fee was 0.40% prior to the offer. Other banks are preparing special offers for the upcoming festival season to entice customers. Image Source Also read: Housing sales notes 75% growth in H1 2021: CBRE South Asia

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Infrastructure Urban

02 Jun 2026

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Infrastructure Transport

02 Jun 2026

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..