Yes Bank Enters Co-Lending Partnership for Retail Loans

PNB Housing Finance and Yes Bank declared a statement that they have stepped-in to a strategic co-lending agreement that offers customized retail loans for home buyers at competitive interest rates.

It has been noticed that both organizations are on the verge of jointly made participation due to the diligence and co-originate the loan at an agreed ratio. PNB Housing is expected to make a mark on the service customers through the entire loan lifecycle including collection, sourcing, and documentation with an information-sharing arrangement with Yes Bank.

In the previous year, The Reserve Bank of India officially allowed the co-origination of housing finance companies with banks that allow non-banking finance companies and other banking institutions to offer mutual benefit-risk assessment services.

The revised co-lending model has been introduced in November last year that provides leaders maximum flexibility in offering higher credit for the unserved and underserved segments of the population.

Rajan Suri, Business Head for retail at PNB Housing Finance made a statement that India’s financial sector is witnessing a historical disruption with most banks and NBFC’s harnessing the power of new-age technologies to innovate and deliver qualitatively superior products and services to customers.

The digital transformation has provided access to untapped opportunities in the retail home loan space. They have seen a steady demand among the working class. The millennials are keen to realize their dream of owning a home early in their careers.

Rajan Pental, Global Head for retail banking at Yes Bank, said the partnership may go a long way to bring local expertise to the market. This will help the bank to boost its footprints in newer geographies.


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