The initiative known as 'Project Tatkal' will help get the loan within 10 days after receipt of application form and relevant supporting documents, the bank said.
"It will bring down the average time taken for delivery of home loan to within 10 days from the date of receipt of completed home loan application form and relevant supporting documents from the customer," the release said.
The implementation will be done at large centres with sizable home loan business. The bank has also recently introduced an online customer acquisition solution (OCAS) for instant e-approval of home loan applications.
The bank has over three million home loan customers with a portfolio of over Rs 16,60,000 crore (Rs 16.60 trillion).