NEW DELHI: India Mortgage Assure Company (IMGC) on Monday introduced its partnership with public sector Financial institution of India (BoI) to supply revolutionary mortgage guarantee-backed dwelling mortgage merchandise. This collaboration focuses on salaried and self-employed dwelling mortgage prospects within the inexpensive housing section, a joint assertion stated.
Leveraging IMGC’s assure experience and BoI’s in depth community of over 5,100 branches throughout India, this collaboration will allow the financial institution to offer dwelling mortgage merchandise with better flexibility and safety to potential dwelling house owners.
IMGC’s assure will mitigate the danger of defaults for the financial institution, permitting them to probably provide extra beneficial mortgage phrases to debtors, it stated.
With the rising demand within the inexpensive housing section, this product goals to make dwelling possession extra accessible for a wider vary of debtors within the nation, it stated.
Mahesh Misra, MD & CEO of IMGC, stated the tie-up will allow each establishments to develop protection of their goal borrower segments and the merchandise will promote monetary inclusion and help in early dwelling possession.
BoI Chief Basic Supervisor A Okay Pathak stated the financial institution has launched a house mortgage product with mortgage assure supplied by IMGC to strengthen credit score supply system and facilitate circulation of credit score to inexpensive housing sector.
Leveraging IMGC’s assure experience and BoI’s in depth community of over 5,100 branches throughout India, this collaboration will allow the financial institution to offer dwelling mortgage merchandise with better flexibility and safety to potential dwelling house owners.
IMGC’s assure will mitigate the danger of defaults for the financial institution, permitting them to probably provide extra beneficial mortgage phrases to debtors, it stated.
With the rising demand within the inexpensive housing section, this product goals to make dwelling possession extra accessible for a wider vary of debtors within the nation, it stated.
Mahesh Misra, MD & CEO of IMGC, stated the tie-up will allow each establishments to develop protection of their goal borrower segments and the merchandise will promote monetary inclusion and help in early dwelling possession.
BoI Chief Basic Supervisor A Okay Pathak stated the financial institution has launched a house mortgage product with mortgage assure supplied by IMGC to strengthen credit score supply system and facilitate circulation of credit score to inexpensive housing sector.
