India Post Payments Bank teams up with HDFC for offering home loans
India Post Payments Bank (IPPB) and HDFC have entered into a strategic alliance to offer home loans to nearly 4.7 crore customers of the payments bank.
Leveraging its country-wide network of 650 branches and over 1,36,000 banking access points (Post offices), IPPB aims to make HDFC's home loan products and its expertise available to its customers across India, HDFC said in a statement.
''The partnership aims to facilitate HDFC's home loans to customers, especially in unbanked and underserved areas with many of them having little or no access to finance, to fulfill their dream of owning a home. IPPB will offer housing loans through nearly 190,000 banking service providers (Postmen and Gramin Dak Sevaks),'' it said.
Speaking on the significance of the tie-up, IPPB MD J Venkatramu said financial inclusion cannot be achieved without enabling access to credit as a significant chunk of customers does not have a bank or a financial institution providing housing loans in their vicinity.
The alliance aims to make housing loans available and accessible, using a digitally-enabled agent banking channel and position IPPB as a one-stop platform for all banking needs of customers, including credit, he said.
Commenting on this partnership, HDFC MD Renu Sud Karnad said, this alliance will go a long way to promote affordable housing in the remotest locations of our country in line with the Prime Minister's vision of Housing for All.
From its inception till date, IPPB has introduced a range of innovative and unique banking products and services catering to the needs and requirements of different customer segments and is also enabling easier digital adoption at the last mile through an assisted banking model.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)