Last Updated : Thursday, November 28, 2019 18:51:48

EDELWEISS HOUSING, BANK OF BARODA partner for co-lending on Home Loans

MUMBAI | VADODARA | AHMEDABAD-GANDHINAGAR | RAJKOT – In a regulatory update submitted to the Indian Stock Exchanges, Mumbai headquartered financial services providing company Edelweiss Housing Finance Ltd said of having partnered with Bank of Baroda for co-lending of home loans to self-employed entrepreneurs and salaried customers.

In a press-release as submitted by the company to the Indian Bourses, titled – “Edelweiss Housing, Bank of Baroda partner for Co-Lending on Home Loans” further read that Edelweiss is early mover in the housing finance space to sign Co-Lending agreement with a Bank and aims business of Housing loans to specially target self-employed & salaried customers.

The press-release in details further read that, Edelweiss Housing Finance Limited (EHFL), a subsidiary of Edelweiss Financial Services Ltd, announced a strategic agreement with Bank of Baroda India’s third largest public sector bank, for co-lending of home loans to self-employed entrepreneurs and salaried customers.

Edelweiss Housing Finance Limited is one of the early movers to enter into a Co-Lending arrangement with a Bank in the housing finance space.

This partnership involves sharing of risks and rewards between EHFL and Bank of Baroda and aims to create a conducive lending environment for home-loan seekers.

For Edelweiss, co-lending represents an alternate model of disbursals that is asset light and creates a sound revenue model for sustainable business.

For self-employed and salaried customers, co-lending provides two key benefits: Simplicity of dealing with a single entity – for their financing, and convenient access to a blended cost-effective rate of interest.

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