SBI & Indian Mortgage Company joins hands to offer mortgage backed home loans

By Realty Quarter Bureau

India Mortgage Guarantee Corporation (IMGC) signed an MOU with State Bank of India to offer mortgage backed home loans.

“This tie-up will enable us to improve housing loan volumes in non-salaried segment,” said PK Gupta, MD (Retail & Digital Banking), SBI.

The bank will offer the said home loan to non-salaried and self-employed customers.

“Taking such loans will also allow the customers to increase their eligibility by up to 15% within the regulatory norms,” said Mahesh Misra, CEO, IMGC.

Misra claims that the company has grown 100% in the last one year and it plans to grow by 70-80% in the next financial year.