Tata Capital Housing Finance Ltd (TCHFL), a wholly-owned subsidiary of Tata Capital Ltd, has entered into a strategic alliance with Saraswat Co-operative Bank Ltd, a 100-year-old banking institution. With this alliance, Saraswat Co-operative Bank’s customers would be able to avail of a range of products from TCHFL.
The tie-up will provide TCHFL an opportunity to increase its footprint and reach out to customers in the interiors of the country. The suite of product offerings by TCHFL include home loans, affordable housing loans and loans against property.
Speaking on the alliance, Anil Kaul, MD, Tata Capital Housing Finance said, “We are delighted to create an alliance with Saraswat Co-operative Bank, which marks its 100th successful year, serving over 30 lakh diverse customers across India. This gives us an opportunity to offer our innovative mortgage products to the bank’s customers, who aspire to own a home or invest in real estate. Housing finance is today driven by rapid urbanisation, transparent policies such as RERA, and the government’s vision of Housing for All by 2022.”
Gautam E Thakur, Chairman, Saraswat Co-operative Bank said, “Our tie-up with Tata Capital Housing Finance will enable us to fuel the growing demand for home loans from our customers".
UCBs are permitted to extend individual housing loans up to a maximum of Rs 70 lakh per beneficiary of a dwelling unit, subject to extant prudential exposure limits. Hence, housing loan requirements that are more than Rs 70 lakh or cases that are beyond the bank’s lending norms, would be referred to TCHFL.