NEWS & ADVICE : HOME LOANS
Bajaj FinServ may enter home loan business
By Joseph Samson
Dec 15, 2009
Print    Email    RSS   

Seeing a huge potential in home loan business, Bajaj FinServ, Bajaj group's financial services arm, is planning to foray into home loan business.

"We already offer secured loans against property and we are the fourth-largest in that segment. We are now evaluating getting into the home loan business, though we have not taken a final decision yet," said FinServ managing director Sanjiv Bajaj.

He further revealed that the company would start offering retail loans against shares next year and would also enter the construction and equipment financing business.

Bajaj FinServ has already expanded into two new businesses this year. Thecomany signed an agreement with insurance firm Allianz in April 2009 for an asset management company (AMC). "We want to tap into a new set of customers with these businesses," added Mr Bajaj.

He pointed out that 90 percent of the AMC business was in the top six cities, but they wanted a low cost delivery system to access the next level of customers outside those six cities. "Today, that business too is very high-end, but we want to look at the middle class and build some simple products for that segment," said Mr Bajaj.

The advisory business plan which is in process would be finalized in3-4 months and may include brokerage. It could cover both equity and non-equity and would be ready for launch by next year.

Presently, many companies are lowering home loan rates to lure borrowers. Recently DHFL has announced low interest rate home loans.

 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Mortgage insurance’s relevance in India
Paying back home loans: Which repayment...
Income Tax Benefits on Joint Home Loans
e-filing of income tax returns at...
Carnival of Indian Personal Finance Blogs #6


PINJORE: CaℒL Giℛℒs In PiNjOrE 09915787550...
PINJORE: CaℒL Giℛℒ In PiNjOrE 09915787550...
how to gate my home loan certificate

NEWS THIS WEEK
Canara Bank earned a profit of 60%. Feb 6, 2015
New Branch of Laxmi Vilas bank at Vijayawada Jan 30, 2015
Home loan EMIs expected to drop down Jan 21, 2015
Corporation Bank received MSME banking excellence award 2014 Jan 19, 2015
Home loan rates set to fall, after reduction in repo rate Jan 16, 2015
News Archive