Mumbai: India Mortgage Guarantee Corporation (IMGC), India’s first and only Mortgage Guarantee Company, announces its strategic partnership with RBL Bank, one of the leading private sector banks in India, to offer innovative Mortgage Guarantee (MG) backed home loan products for salaried and non-salaried prospective customers.
This partnership with IMGC will help RBL Bank extend MG-backed Home Loans to new borrower segments through its network of over 500 branches across the country. The combined expertise would enable a compelling value proposition for its customers and help create a conducive lending environment for early homeownership by ensuring timely disbursal of housing credit and longer tenure to customers.
The collaboration will also allow the 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 sanctioning, ensuring high quality of portfolios for RBL Bank.
Speaking on the development, Parag Kale, Business Head – Secured Business, RBL Bank, said, “We are delighted to partner with IMGC. This collaboration enables us to extend our products to a broader customer base while ensuring enhanced risk management. It will also allow us to increase the tenor of home loans and ensure affordability.”
Speaking on the partnership, Mr. Mahesh Misra, CEO, IMGC said, “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.”
The program between IMGC and RBL Bank has been designed in a manner to address the needs of a wide range of customers through varied products. (UNI)
