For Mg-Backed Home Loans, India Mortgage Guarantee Corp and RBL Bank Partner

India Mortgage Guarantee Corp. and RBL Bank Join Forces for MG Backed Home Loans 

India Mortgage Guarantee Corporation (IMGC) established a major agreement with RBL Bank, one of India’s top private banks, to effective management Mortgage Guarantee (MG) backed home mortgage solutions to potential employed and non-salaried consumers.

This collaboration with IMGC will enable RBL Bank to expand MG-backed Home Loans to additional customer categories across the country via its infrastructure of over 500 locations. By assuring prompt disbursement of mortgage finance and prolonged duration to consumers, the integrated experience would provide a unique selling proposition for its clients and help establish a suitable lending climate for early ownership.

By harnessing IMGC’s knowledge, the relationship will also enable the Bank to manage creditworthiness. One of the key benefits is dual verification, as IMGC will also check every transaction before approval, guaranteeing RBL Bank’s portfolios are of excellent quality.

In response to the news, RBL Bank’s Business Head For Secured Business, Parag Kale, stated, “We are thrilled to cooperate with IMGC.” This relationship allows us to reach a larger customer base while also improving risk mitigation. It would also enable us to extend the term of home loans while maintaining accessibility.”

“We are pleased to join with RBL Bank as they lay out a development route in residential foreclosures,” stated Mahesh Misra, CEO of IMGC. The teams worked together to create an effective concept. This will broaden the product portfolio while also mitigating risk.”

The programme among IMGC and RBL Bank has been established to meet the demands of a diverse spectrum of consumers through a selection of items.

Through its relationship with 23 borrowers, comprising premier banks and housing finance companies, IMGC has acquired a strong market advantage by ensuring over 85,200 home loans totalling more than INR 15,400 Crores. Cheap housing is amongst the most enticing retail finance divisions, and IMGC has played a critical role in assisting its creditor relationships in entering this venue with limited expense and in assisting home buyers in realising their ambitions of purchasing a home through significantly greater membership and lower equivocated monthly instalments.