Capri Global Housing Finance and SBI Sign Co-Lending Agreement for Home Loans

Capri Global Housing Finance Ltd, a wholly owned subsidiary of Capri Global Capital Ltd focused on affordable housing finance space, has entered into a co-lending alliance with State Bank of India (SBI).

The collaboration aims to offer home loans in the priority area to eligible buyers at competitive interest rates through its 110 outlets in India.

Disbursement of the loan under this agreement would start from March 2022, the company said in a statement.

Capri Global Housing Finance Ltd, through its diverse network of branches in 10 States and Union Territories, will originate and process home loans within mutually agreed parameters with SBI in accordance with the Co-Lending Framework defined by the Reserve Bank of India.

Capri Global Housing Finance Ltd will act as servicing agent for loan accounts originating from this partnership throughout the life of the loan and will retain 20% of the loan on its book, while SBI will retain 80% of the loan.

The co-lending framework will work with the operational management expertise of Capri Global Housing Finance Ltd and SBI’s Low Cost Fund to provide an affordable lending solution to borrowers.

Dinesh Khara, President of SBI, said, “This collaboration will enhance our distribution network as we aim to extend our credit reach to more home loan borrowers from the unserved and underserved segments. Such partnerships align with our commitment to accelerating efficient and affordable credit. to small home buyers in India and contribute to the vision of “housing for all by 2024”.

Rajesh Sharma, Managing Director of Capri Global Capital Ltd, said: “This partnership will help increase the profitability of both businesses and expand their respective mortgage portfolios. It will also allow the funder to penetrate deep into the Tier II and Tier III city markets at very competitive rates. The alliance will leverage the comparative advantages of both entities to deliver an efficient and seamless experience for home borrowers. ”

Capri Global Housing Finance Ltd provides credit to underserved borrowers in society to foster financial inclusion and create large-scale social impact through financial empowerment. As of Dec. 31, 2021, the company has offered home loans to more than 17,500 customers and helped them realize their dream of owning a home, he added.

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Posted: Thursday March 24th 2022, 5:48 PM IST