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HDFC ties up with IMGC for Home Loan

HDFC collaborated with IMGC (India Mortgage Guarantee Corporation) for a mortgage guarantee-backed home loan.
HDFC ties up with IMGC for Home Loan

What is a Mortgage Guarantee?

  • Mortgage guarantee is a financial product which compensates lending institutions for the losses that may occur when a home owner defaults on a mortgage loan.
  • In a 'Mortgage Guarantee', the risk of the home loan gets transmuted from the bank/FIs (financial institution) to the mortgage guarantee company.

Sigficance of this Collaboration:

  • This collaboration will help HDFC provide more loan to a home loan customer on an improved eligibility.
  • The main objective of the collaboration is to address middle age-salaried customers, self employed customers and young salaried customers.

Question:

Q. Who has collaborated with IMGC (India Mortgage Guarantee Corporation) for a mortgage guarantee-backed home loan?
a. SBI
b. LIC Housing Finance
c. Ujjivan Finance
d. HDFC
HDFC ties up with IMGC for Home Loan HDFC ties up with IMGC for Home Loan Reviewed by Neha Verma on May 17, 2019 Rating: 5

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