Bank of Baroda partners with Centrum Housing Finance

Bank of Baroda has signed a MoU with Centrum Housing Finance Limited (CHFL) for sourcing and financing housing loan borrowers under Co-loaning Model (CLM) mechanism.

Harshadkumar T. Solanki, General Manager, Mortgage and Other Retail Assets, Bank of Baroda, and Sanjay Shukla, MD and CEO of CHFL, marked the arrangement.

CHFL is one of the main new age housing finance organizations giving long haul housing finance to ‘middle class’ India with its quality in level 2 and 3 urban cities that are under-served by traditional lenders/banks.

“This tie-up opens up different freedoms for the two establishments. The Bank will actually want to enter profound into the business sectors of level 2 and level 3 urban communities at exceptionally cutthroat rates. Bank would have the option to collect increasingly housing loan segment business to the extent of ₹1000 crore in one financial year,” said Solanki.

Reacting to the deal Sanjay Shukla said, “We invite Bank of Baroda as one of our partners and have confidence in collaborative approach utilizing each other’s strengths to boost the credit flow to underserved and un-served segments.