Post Office Systems India Post Payment Bank HDFC LIC Mortgage Interest Rate

New Delhi: India Post Payments Bank (IPPB) under the Post Office will offer a home loan through 1.9 lakh Postmen and Gramin Dak Sevaks across the country, according to a Economic times report. This came as IPPB and HDFC Limited teamed up to offer a home loan to around 4.7 million customers, ET reported.Also read – Good news! India Post Payments Bank and HDFC Partner to Offer Home Loans

Real estate loan IPPB-HDFC

  • The IPPB aims to make mortgage loans available in remote areas where access to banking and finance is limited. It will use its network of 650 branches and more than 1.35 lakh of bank access points to offer HDFC Ltd’s home loan products, according to the ET report.
  • While IPPB will use its robust network, HDFC Bank will provide technical, credit, processing and disbursement services, according to the ET report.

India Post Payments Bank-LIC Housing Finance Mortgage Loan

  • Earlier in September this year, IPPB and the nation’s leading housing finance player LIC Housing Finance Ltd (LICHFL) announced a strategic partnership to provide home loan products to more than 4.5 million IPPB customers. .
  • With its strong and extensive network of 650 branches and more than 136,000 bank access points, IPPB will make LICHFL home loan products accessible to clients across India, the Communications Ministry said in a statement. .
  • Under the MoU, underwriting, processing and disbursement of credit for all home loans will be handled by LICHFL, with IPPB being responsible for procurement.
  • IPPB’s field workforce, made up of nearly 200,000 postal workers (Postmen and Gramin DakSevaks) equipped with micro-vending machines and biometric devices through its innovative Doorstep Banking service, will play a role. important role in providing LICHFL home loans, according to details in the official statement.

LIC mortgage interest rate

LIC Housing Finance Ltd, offers real estate loans starting at 6.66% for loans up to Rs 50 lakh for salaried people. The proposed interest rate is linked to the creditworthiness of the borrower, as evidenced by their CIBIL scores, the communications ministry said in the statement. Also Read – Diwali Home Loan Offer: Check The Best Interest Rates From These Banks

Also Read – Interest On Home Loans At All-Time Low: HDFC Announces 6.7% Interest Home Loan, Here’s How To Apply

Bernadine J. Perkins