Partnership22 Aug 2024, 06:46 pm
Central Bank of India Partners with Piramal Capital for Co-Lending MSME LAP and Home Loans
AI Summary
Central Bank of India has entered into a strategic co-lending partnership with Piramal Capital & Housing Finance Limited to offer MSME LAP and Home Loans at competitive rates. The partnership aims to expand the portfolio of both entities, with Piramal Capital originating and processing loan proposals, and Central Bank of India taking 80% of the MSME_LAP and Home Loans under mutually agreed terms. The arrangement is expected to enhance customer experience and expand the reach of both entities across India.
Key Highlights
- Central Bank of India partners with Piramal Capital & Housing Finance Limited for co-lending MSME LAP and Home Loans.
- The partnership aims to offer loans at competitive rates and expand the portfolio of both entities.
- Piramal Capital will originate and process loan proposals, while Central Bank of India will take 80% of the MSME_LAP and Home Loans under mutually agreed terms.
- Piramal Capital has over 1.3 million active customers and a presence in 26 states with a network of 501 conventional branches.
- The co-lending arrangement is expected to enhance customer experience and expand the reach of both entities across India.