Bank of India and Indian Mortgage Guarantee Corporation (IMGC) have signed agreement to provide mortgage guarantee-backed home loan products in the affordable housing segment.

Banking & Finance

Bank of India and Indian Mortgage Guarantee Corporation (IMGC) have signed agreement to provide mortgage guarantee-backed home loan products in the affordable housing segment. It will cover salaried and self-employed home loan customers. IMGC's guarantee will mitigate the risk of defaults for the bank, allowing it to potentially offer more favourable loan terms to borrowers. The products will promote financial inclusion and aid in early home ownership. IMGC has surpassed Rs 25,000 crore in home loan guarantees for over one lakh customers across 400 locations nationwide.


     

     

     

 

     


Bank of India

Founded- 1906
MD&CEO- Rajneesh Karnatak
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