Public Sector lender Bank of Baroda has inked a strategic co-lending agreement with JM Financial Home Loans Limited (JMFHL), the housing finance subsidiary of JM Financial Group, for providing retail loans to home buyers.
The association will create a lending model synergizing the expertise of both Bank of Baroda and JMFHL to providing retail home loan products.
Expressing his views on the agreement, Vikramaditya Singh Khichi, Executive Director at Bank of Baroda said, “There is huge potential in the retail home loan space that can be tapped through co-lending partnerships between large organizations like Bank of Baroda and finance players like JM Financial Home Loans.”
The partnership is likely to offer credit delivery to homebuyers, thus boosting the home-buying segment.
“There is a lot of complementarity in our franchisees which will help in providing a compelling offering to the retail home loan customers,” said Vishal Kampani- Managing Director, JM Financial Group.