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PNB Housing Finance and YES BANK on Friday said that they have entered into a strategic co-lending agreement to offer convenient and customised retail loans to homebuyers at competitive interest rates.

PNB Housing and YES BANK will synergise capabilities to provide an efficient and seamless experience to existing and new retail home loan customers, the bank said in a release.

PNB Housing and YES BANK will jointly do due diligence and co-originate the loan at an agreed ratio. PNB Housing will service the customers through the entire loan lifecycle, including sourcing, documentation and collection with an appropriate information sharing arrangement with YES BANK.

In 2020, RBI allowed the co-origination of HFCs with banks to enable non-banking finance companies and other banking institutions to provide mutually-beneficial risk assessment services. The revised co-lending model, introduced in November 2020, gives lenders greater flexibility vis-a-vis offering higher credit for the unserved and underserved segments of the population.

PNB Housing Finance, Business Head Retail, Rajan Suri said, “India’s financial sector is witnessing a historical disruption with most banks and NBFCs harnessing the power of new-age technologies to innovate and deliver qualitatively superior products and services to customers.”

He added, “The digital transformation has opened up untapped opportunities in the retail home loan space. We have seen a steady demand among the working class, especially millennials, who are keen to realise their dream of owning a home early in their careers.”

Rajan Pental, Global Head – Retail Banking, YES BANK, said, “The partnership provides ease of loan sanctions at borrower’s convenience through digital lending platforms – thereby enabling homebuyers to fulfil their dreams and aspirations.”



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