Aadhar Housing Finance and UCO Bank have entered into a co-lending agreement to offer home loans at competitive interest rates.
“The aim is to reach out to a large section of society to provide easy, convenient, and efficient home finance solutions to customers from the economically weaker, lower and middle-income groups,” they said in a statement on Wednesday.
Deo Shankar Tripathi, Managing Director and CEO, Aadhar Housing Finance said, “UCO Bank’s reach and trust in the market, coupled with our own network and digital, state-of-the-art IT infrastructure, improved control and underwriting functions, and increasing customer reach and distribution capability; will help provide efficient and economical home loan solutions to customers across geographies and socio-economic groups.”
Atul Kumar Goel, Managing Director and CEO, UCO Bank said Aadhar Housing Finance’s network of over 300 branches covering more than 12,000 locations will help the bank achieve the co-lending model’s objective of improving credit flow to unserved and underserved sectors of the economy.