PNB Housing Finance and Yes Bank enter strategic co-lending agreement for home loans

PNB Housing Finance and YES BANK announced today that they have entered into a strategic co]lending agreement to offer convenient and customized retail loans to homebuyers at competitive interest rates. PNB Housing and YES BANK will synergise capabilities to provide an efficient and seamless experience to existing and new retail home loan customers.

PNB Housing and YES BANK will jointly do due diligence and co]originate the loan at an agreed ratio. PNB Housing will service the customers through the entire loan lifecycle, including sourcing, documentation and collection with an appropriate information sharing arrangement with YES BANK.

In 2020, RBI allowed the co]origination of HFCs with banks to enable non]banking finance companies and other banking institutions to provide mutually]beneficial risk assessment services. The revised co]lending model, introduced in November 2020, gives lenders greater flexibility vis]a]vis offering higher credit for the unserved and underserved segments of the population.

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