YES BANK forges co-lending partnership with Indiabulls Housing Finance

YES BANK has forged a co-lending partnership with Indiabulls Housing Finance Limited to provide homebuyers with home loans that are claimed to be at competitive interest rates.

The partnership will strive to synergize capabilities for giving retail home loan customers an efficient and seamless experience.

Rajan Pental — Retail Banking Global Head at 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.”

YES BANK forges co-lending partnership with Indiabulls Housing Finance. Photo courtesy of Nattanan Kanchanaprat from Pixabay.

According to YES Bank, the co-lending framework put up by the Reserve Bank of India gives a collaboration tool to take advantage of the low-cost funding model of a bank and a non-bank’s cost-efficient sourcing and servicing capabilities.

Gagan Banga — Vice Chairman and CEO of 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.”

Last month, Indiabulls Housing Finance Limited (IBH) and Indiabulls Commercial Credit Limited (ICCL) entered into a co-lending partnership with Central Bank of India to offer secured retail loans and secured loans for micro, small, and medium enterprises (MSMEs), respectively, at competitive prices.