BUSINESS

HDFC Ties Up With India Mortgage Guarantee Corp

HDFC

 

New Delhi: Housing finance major HDFC Limited has partnered with the India Mortgage Guarantee Corporation (IMGC) to offer a mortgage-guaranteed home loan product. The partnership aims to make it possible for HDFC to further penetrate the home loan market and access an enlarged customer base, helping them to own a home of their choice, HDFC said. This product will help HDFC to offer more loan to a home loan customer on enhanced eligibility as it also helps customers to avail loans beyond their retirement period.  On this partnership for a new product, Renu Sud Karnad, Managing Director, HDFC Ltd., said: “We are determined to strengthen the housing finance segment in India. Our partnership with IMGC is one big step towards it. Mortgage-guarantee is already a popular product in the international market and this partnership will help diversify our offerings to a wider segment of customers.” She added: “This will also help us to support the government of India’s mission under the Prime Minister Awas Yojana Scheme (PMAY) to provide housing for all by 2022.”

The partnership would address the needs of a wide range of customers in three defined variants. These include middle age-salaried customers, self-employed customers, and young salaried customers and a wide segment of customers who have been hitherto unserviced. (IANS)

 

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