Siddhartha Dev Bank introduces ‘SDBL Safe Housing Loan’ product
Tue, Sep 1, 2015 12:00 AM on Others,
ShareSansar, September 1:
Siddhartha Dev. Bank has come up with ‘SDBL Safe Housing Loan’ product targeting it’s customers approaching forhome loan.
Under this scheme, the development bank has following unique features:
- Term life insurance of the debtor
- Payment of bonus after the completion of insurance period
- Minimal Interest rate
- Loan Limit from Rs 5 lakh to Rs 1 crore
- Loan repayment time from 10-20 years
Under this scheme customers can pay minimum interest rate on monthly basis and premium payment of life insurance on yearly basis. A borrower won’t have to pay the actual loan amount. In case of death of the borrower, the dev bank will hand over the house to the borrower’s family. Siddhartha Development Bank has brought the scheme in collaboration with Prime Life Insurance Company Limited.
In the fourth quarter of the fiscal year 2071/72, the bank has posted a net profit of Rs 26 crore. Likewise the NPL of the dev bank dropped to 4.03% from 7.08%.With 88 thousand depository participants the development bank has mobilized a deposit of Rs. 6 arba 98 crore and extended a loan of Rs.5 arba 71 crore. Its Capital adequacy ratio stands at12.69%, CD ratio at 72.12% and liquidity ratio at 28.70%.
SDBL has 18 branch offices, 19 ATM counter, 36 thousand ATM card holders with more than 900 SDBL Trust Remit and Siddhartha Retirement Fund Rs 1 arba 10 crore. In the near future the dev bank aims to provide quality banking services to its customers through new schemes.
