RBL Bank, IMGC associate to supply mortgage guarantee-backed dwelling loans
NEW DELHI: India Mortgage Guarantee Corp. (IMGC) has partnered with with RBL Bank to supply mortgage guarantee-backed dwelling mortgage merchandise for salaried and non-salaried clients. This partnership with IMGC will assist RBL Bank lengthen ortgage guarantee-backed dwelling loans to new borrower segments via its community of over 500 branches throughout the nation.
The mixed experience would allow a compelling worth proposition for its clients and assist create a conducive lending surroundings for early homeownership by guaranteeing well timed disbursal of housing credit score and longer tenure to clients.
“We are delighted to associate with IMGC. This collaboration allows us to increase our merchandise to a broader buyer base whereas guaranteeing enhanced danger administration. It may even permit us to extend the tenor of dwelling loans and guarantee affordability,” said Parag Kale, Business Head – Secured Business, RBL Bank.
The collaboration will also allow RBL Bank to mitigate credit risks by leveraging IMGC’s expertise. One of the essential advantages is double authentication, as IMGC will also validate each loan before sanction, ensuring high quality of portfolios for the lender.
“We are excited to partner with RBL Bank as they chart out a growth journey in retail mortgages. The teams have collaborated to develop an enabling proposition. This shall expand product offering and also mitigate risk,” stated Mahesh Misra, CEO, IMGC.
IMGC has constructed a big aggressive place by guaranteeing over 85,200 dwelling loans amounting to greater than ₹15,400 crore, via its partnership with 23 lenders together with main banks and housing finance corporations.
Affordable housing is likely one of the most promising segments within the retail finance house and IMGC has been taking part in a vital position in serving to its lender companions foray into this house with minimal danger and serving to dwelling consumers fulfil their goals of proudly owning a house via larger eligibility and decrease equated month-to-month installments.
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