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RBL Bank, IMGC collaborate to offer Mortgage Guarantee Backed Home Loans

Wednesday, July 13, 2022: Mortgage guarantee company, India Mortgage Guarantee Corporation (IMGC), announces its strategic partnership with RBL Bank,  to offer innovative Mortgage Guarantee (MG) backed home loan products for salaried and non-salaried prospective customers.

A press release issued by the company says that, this partnership with IMGC will help RBL Bank extend MG-backed Home Loans to new borrower segments through its network of over 500 branches across the country. 

The collaboration will also allow the Bank to mitigate credit risks by leveraging IMGC’s expertise.  One of the essential advantages is double authentication, as IMGC will also validate each loan before sanction, ensuring high quality of portfolios for RBL Bank.

Speaking on the development, Parag Kale, Business Head – Secured Business, RBL Bank, said, “We are delighted to partner with IMGC. This collaboration enables us to extend our products to a broader customer base while ensuring enhanced risk management. It will also allow us to increase the tenor of home loans and ensure affordability.”

Speaking on the partnership, Mahesh Misra, CEO, IMGC said, “We are excited to partner with RBL Bank as they chart out a growth journey in retail mortgages. The teams have collaborated to develop an enabling proposition. This shall expand product offering and also mitigate risk.”