DCB Bank and Easy Home Finance Limited (EASY) have entered a co- lending business alliance to offer affordable home loans in the country. This alliance seeks to leverage DCB Bank’s expertise in the affordable housing segment and EASY’s tech capabilities to enable quick disbursement of affordable home loans and fulfill the dream of many an Indian of owning a home, come true!
DCB Bank has built a granular and secure home loan portfolio across varied geographies and has built expertise in credit assessment for a range of loans such as, prime home loans, affordable home loans, Loan against Property (LAP), Micro-LAP, loan for home improvement, and construction finance for developers as well. EASY is a pioneer in the mortgage tech space in the Indian subcontinent. The co-origination, underwriting and disbursement activities from both the parties working together will enable a seamless process for new home buyers. Easy’s asset-light model of neo banking mortgage and a greater reach for digital home loans combined with rural and urban connect of DCB Bank will help customers in faster processing of their home loan application.
Speaking on the partnership, Narendranath Misha, Head-Retail & Agri Loans, DCB Bank, said, “the alliance enables the Bank to reach more geographies and deeper access in the affordable home loan arena. It will add to the home loan footprint of the Bank. Our expertise in origination and credit assessment will be boosted with the expertise and digital tech of Easy Home Finance. It will enable more customers to experience the range of affordable home loan products of DCB Bank and fulfill the home ownership dreams of prospective customers in the underserved geographies.
Rohit Chokhani, Managing Director, Easy Home Finance Limited, said, “Our alliance with DCB Bank is a significant step towards providing affordable home loans and reaching added Indian households. In a bid to offer paperwork-efficient, cost-effective, and hassle-free home loans in the market, we are embarking on this journey. As a common motive of being more customer-centric and broadening our geographical footprint, we aim to make our customers’ home ownership journey easier while offering them highly interactive digital experiences. Furthermore, customers will now be able to enjoy the best of both worlds; the trust of DCB Bank and the tech-focused offerings of Easy.”
The alliance will benefit customers in numerous ways such as eradicating the hassle of long home loan procedures and excessive paper-based processes.
It is the next step to expand and grow as India’s leading Mortgage Tech Company. All this is only possible with EASY’s proprietary homeownership technology platform, ‘Fox’, which will be used throughout all their partnerships.
