PNB Housing Finance and Yes Bank sign a strategic real estate co-loan pact

PNB Housing Finance announced on Friday that it has partnered with Yes Bank for a strategic co-lending service that will facilitate retail home loans at competitive rates.

PNB Housing and Yes Bank will synergize their capabilities to provide an efficient and transparent experience for existing and new retail real estate lending clients, PNB Housing Finance said in a regulatory filing.

This strategic co-loan agreement will provide “convenient and personalized retail loans to homebuyers at competitive interest rates,” he added.

PNB Housing and Yes Bank will jointly perform due diligence and co-order the loan at an agreed ratio.

PNB Housing will serve clients throughout the loan life cycle including sourcing, documentation and collection with an appropriate information sharing agreement with Yes Bank, according to the file.

In 2020, the RBI authorized cooperation between housing finance companies (HFCs) and banks to enable non-bank finance companies and other banking institutions to provide mutually beneficial risk assessment services.

The revised co-lending model, introduced in November 2020, gives lenders greater flexibility over supplying higher credit for unserved and underserved segments of the population.

PNB Housing Finance, Business Head Retail, Rajan Suri said: “India’s financial sector is experiencing historic disruption, with most banks and NBFCs harnessing the power of new age technologies to innovate and deliver superior products and services. to customers. The digital transformation has opened up untapped opportunities in the area of ​​home loans to individuals.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

Dear reader,

Business Standard has always strived to provide up-to-date information and commentary on developments that matter to you and have broader political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these difficult times resulting from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative views and cutting edge commentary on relevant current issues.
However, we have a demand.

As we fight the economic impact of the pandemic, we need your support even more so that we can continue to provide you with more quality content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscriptions to our online content can only help us achieve the goals of providing you with even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital editor

About admin

Check Also

EU says J&J will miss second quarter vaccine supply target

Empty vials of Johnson & Johnson’s coronavirus disease (COVID-19) vaccine are seen on a table …

Leave a Reply

Your email address will not be published.