Mumbai: YES BANK and Indiabulls Housing Finance Limited have entered into a strategic co-lending agreement to offer home loans to homebuyers at competitive interest rates. The partnership aims at synergizing capabilities to provide an efficient and seamless experience to retail home loan customers.
The co-lending framework laid down by Reserve Bank of India 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.
Rajan Pental, Global Head – Retail Banking, YES BANK said, “We are pleased to partner with Indiabulls Housing Finance Limited. This is in line with YES BANK’s strategy of expanding its retail franchise through a mix of organic and partnership-led origination model. The Bank is looking forward to further build a profitable and quality home loan portfolio through this partnership.”
Gagan Banga, Vice Chairman & CEO, Indiabulls Housing Finance Limited said “We can now leverage YES BANK’s deposit-led franchise and complement that with 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.”