TATA Capital Housing Finance Limited (TCHFL), a wholly owned subsidiary of Tata Capital Limited, has entered into a strategic alliance with Saraswat Co-operative Bank Limited, a 100-year old premier banking institution. With this alliance, Saraswat Co-operative Bank’s customers can avail a wide range of products from Tata Capital Housing Finance Limited (TCHFL).
Saraswat Co-operative Bank Limited is India’s largest co-operative bank with over 281 branches in India. The tie-up will provide TCHFL an opportunity to increase its footprint and reach out to customers in the interior geographies of the country. The suite of product offerings by TCHFL includes home loans, affordable housing loans, and loan against property.
Customers can do much more with TCHFL Home Loans, such as buying a plot of land for construction or even home extension. The newly launched Accel Home loan provides financial ease at the beginning of the loan period and as the customer’s income grows, a gradual increase in EMI sets in. Also, Flexi home loan options are available with quick and easy approvals.
Speaking on the alliance, Anil Kaul, MD, Tata Capital Housing Finance Limited 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 Limited 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 loan up to a maximum of Rs. 70 lakh per beneficiary of a dwelling unit subject to extant prudential exposure limits. Hence, housing loan requirement that is more than Rs. 70 lakh or cases that are beyond the Bank’s lending norms will be referred to TCHFL.
TCHFL and Saraswat Co-operative Bank Limited together, bring in a synergy of a strong legacy, trust, and commitment to providing excellent service to our customers. We look forward to a mutually rewarding journey with Tata Capital Housing Finance Limited.”
TCHFL aims to empower Saraswat Bank’s customers with a seamless home loan buying experience. With digitisation, the loan disbursement processes will be simple and transparent with minimal paperwork. The customer can simply choose the best-suited home loan product.