The State Bank of Bikaner & Jaipur is offering in-principle sanction of home loans in about 20 minutes through online process.

“We have created an integrated back-end processing facility, online business centre, to attend to the customers on a 24/7 basis,” Mr Shiva Kumar, Managing Director, State Bank of Bikaner & Jaipur, said in a release.

The process is simple. The loan-seekers should go to the portal, www.sbbjbank.com, and fill up an application which takes about 20 minutes.

The application is processed instantly if a customer is found eligible and the sanction letter with reference number appears on the screen instantly.

The eligible customers would also get a call from the on-line business centre in Jaipur immediately to direct them to the branch of their choice/nearest branch to submit the relevant documents for further processing.

At present, the Jaipur-based bank is offering home loans at 10.50 per cent for amounts up to Rs 30 lakh. For loans upward of Rs 30 lakh, the rate is 11 per cent.