IMGC and Bank of India Partner to Offer Mortgage Guarantee-Backed Home Loans

India Mortgage Guarantee Corporation (IMGC) has entered into a strategic partnership with Bank of India (BOI) to introduce mortgage guarantee-backed home loan products. This collaboration targets salaried and self-employed individuals in the affordable housing sector, aiming to enhance accessibility to homeownership.

Collaboration Details

• IMGC’s guarantee expertise coupled with BOI’s extensive network of over 5,100 branches across India enables the provision of flexible and secure home loan products.
• The partnership aims to mitigate default risks for the bank, potentially allowing for more favorable loan terms to borrowers.
• The focus lies on promoting financial inclusion and facilitating early homeownership within the affordable housing segment.