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Updated on: Wednesday, July 28, 2021, 11:55 PM IST

YES Bank, Indiabulls Housing Finance in pact to provide home loans under co-lending model

PTI
Gagan Banga, Vice Chairman, and Chief Executive Officer, Indiabulls Housing Finance said this will allow the company to leverage YES Bank's deposit-led franchise. | Representational Image/ Pexels

Gagan Banga, Vice Chairman, and Chief Executive Officer, Indiabulls Housing Finance said this will allow the company to leverage YES Bank's deposit-led franchise. | Representational Image/ Pexels

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YES Bank and Indiabulls Housing Finance have partnered for a strategic co-lending deal to source and service home loans.

Under this strategic co-lending agreement, they will offer home loans to homebuyers at competitive interest rates, YES Bank and Indiabulls Housing Finance said in a joint release on Wednesday.

The partnership aims at synergising capabilities to provide an efficient and seamless experience to retail home loan customers, it said.

The co-lending framework laid down by RBI provides a collaboration tool to benefit from the low-cost funding model of a bank and the cost-efficient sourcing and servicing capabilities of a non-bank.

The bank is looking forward to further building a profitable and quality home loan portfolio through this partnership, Rajan Pental, Global Head - Retail Banking, YES Bank said.

"This is in line with YES Bank's strategy of expanding its retail franchise through a mix of organic and partnership-led origination model," he said.

Gagan Banga, Vice Chairman, and Chief Executive Officer, Indiabulls Housing Finance said this will allow the company to leverage YES Bank's deposit-led franchise.

"It complements our technology-led distribution to provide efficient solutions around home loans to a wide gamut of customers across geographies, ticket-size and yield spectrum, to give us balance-sheet light growth and profitability," Banga said.

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Published on: Wednesday, July 28, 2021, 11:55 PM IST
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