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Home Loans Guaranteed
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India Mortgage Guarantee Corporation (IMGC) is India’s first Mortgage Guarantee Company (MGC). We empower housing finance ecosystem by enabling lenders to enhance their credit offering.
Flow or 'Loan by Loan' guarantee is the guarantee given at the time of fresh loan origination to a home buyer. Loan by loan guarantee is especially useful when the lender wants to issue incremental loan amount...
Bulk or 'On-Book' guarantee is the guarantee given to a group of loans that have already been originated. It is used when the lender wants to shield its existing book (full or part) against future credit losses. Bulk or 'On-Book'...
Home, vehicle and rural loans are helping banks and non-bank lenders spare their business even as they remain risk-averse to unsecured and wholesale credit.
Two banks — State Bank of India and HDFC Bank — have so far published their frameworks for restructuring loans. One key difference that borrowers need to bear in mind is that while in the first phase of the moratorium (March-August), the interest rate remained the same, this time the moratorium could come with a cost attached.
A clearer picture on the availment of the loan restructuring scheme is likely to emerge by the month-end as banks are still awaiting collection data and are also hoping for a verdict from the Supreme Court on the issue of moratorium interest.
As the spread of Covid-19 and mini-lockdowns in India continue longer than originally expected, many companies are switching gears to assist their remote-working employees for the long haul.
The loan moratorium ends on August 31. Retail borrowers who had availed of it will once again have to bear the burden of paying equated monthly instalments (EMIs). Some borrowers may have lost their jobs or seen salary cuts and may be facing financial stress.