The State Bank of India (SBI) on Thursday said that it has collaborated with five housing finance companies to serve the underserved and unserved burrowers. PNB Housing Finance, Shriram Housing Finance, IIFL Home Finance, Capri Global Housing Finance, and Edelweiss Housing Finance ate the five housing finance companies with which State Bank of India has entered into co-lending agreements.
State Bank of India said the collaboration aims to sanction loans to the underserved and unserved sector adhering to guidelines of the Reserve Bank of India. Moreover, SBI is looking forward to co-lending opportunities with many other housing finance companies to further enhance the penetration in this segment.
SBI in its release has said the non-availability of affordable housing is the main concern for India, mainly for the economically weaker section and the informal sections of the society. The co-lending agreement between the State Bank of India and housing finance companies aims to give the borrower the most suitable interest rate and better reach.
