According to a recent press report, Private sector IndusInd Bank, has signed a memorandum of understanding (MoU) with leading home-loan lender HDFC to sell the latter’s home loans for purchase, construction, extension and renovation of residences by individuals. A press release said that the processing, disbursement and servicing functions for all home loans sourced by IndusInd Bank will rest with HDFC.
Mr.Romesh Sobti Managing Director and CEO of the bank said that the tie-up with HDFC was an important milestone for the bank and the MOU was a part of the expansion strategy. He said that the tie up was mainly because of the number one position held by HDFC in thehome loan market and its best-in-class customer services. He added saying that the tie up will open up new markets and customers for both IndusInd Bank and HDFC.
Mr.Sumant Kathpalia, Head of Consumer Banking of IndusInd bank said that the tie up will help their bank to offer a complete bouquet of banking solutions across various products and services.
Renu Sud Karnad, HDFC’s Managing Director, said that they were happy to announce their partnership with IndusInd Bank, a leading new-generation private bank and said that the tie up will strengthen their distribution network.