YES BANK and Indiabulls Housing Finance Limited have formed a strategic co-lending partnership to provide homebuyers with low-interest house loans. The alliance intends to combine expertise in order to give retail home loan consumers with a more efficient and seamless experience.
The Reserve Bank of India’s co-lending framework offers a way for banks and non-banks to operate together to benefit from a bank’s low-cost funding strategy and a non-cost-effective bank’s sourcing and service capabilities.
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 models. 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.”