Yes Bank, Indiabulls Housing enter co-lending pact to offer home loans

29 Jul 2021 CW Team

The company told the media that Indiabulls Housing Finance and Yes Bank have entered into a strategic co-lending partnership to provide home loans to homebuyers.

On Wednesday, Yes Bank and Indiabulls Housing Finance, in a joint release, told the media that under this strategic co-lending agreement, they would give home loans to homebuyers at competing interest rates.

The partnership intends to synergise capacities to produce an efficient and seamless experience for retail home loan customers.

Rajan Pental, the global head (Retail Banking) of Yes Bank, informed the media that it is in line with the bank's strategy of increasing its retail franchise through a mix of organic and partnership-led origination model.

Gagan Banga, vice chairman & CEO, Indiabulls Housing Finance told the media that they can now leverage Yes Bank's deposit-led franchise and complement that with their technology-led distribution to render effective solutions around home Loans to a wide gamut of customers over geographies, ticket size and yield spectrum, to provide them profitability and balance-sheet light growth.

The co-lending framework laid down by the Reserve Bank of India gives a collaboration device to serve from the low-cost funding model of a bank and the cost-efficient sourcing and maintaining abilities of a non-bank.

Recently, Yes Bank partnered with PayNearby, an Indian branchless banking and digital payments network, for onboarding 10,000 Women BC Sakhis from Self Help Groups to give banking services to several Gram Panchayats in Uttar Pradesh.

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Also read: Indiabulls Housing Finance gets board approval to raise Rs 7,000 cr

Also read: Indiabulls, HDFC join hands to offer home loans at competitive rates

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