LIC Housing Finance today signed a Memorandum of Understanding with India Post Payments Bank (IPPB) to offer home loan products to customers of IPPB.
As part of the strategic partnership, credit underwriting, processing, and disbursement for all home loans will be handled by LIC Housing Finance, while IPPB will be responsible for sourcing.
The alliance is part of IPPB’s expansion plan for its products and services, and cater to the banking and financial needs of customers, especially the unbanked and underserved, across the country, the post payments bank said in a release.
Currently, the payments bank is distributing various general and life insurance products through partnerships with insurance companies.
Source: Economic Times