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IndusInd Bank to offer low cost housing loans

IndusInd Bank has plans to finance housing. The bank will extend loans for low cost housing and is proposing to have an arrangement with a payments bank that will be set up. CEO of the bank Ramesh Sobti said entering the low-cost housing loans segment is both a diversification as well as a natural extension of our microfinance activities. It is at the assessment stage and in a few months, the bank will be firming up the plans, he added. At present, the bank originates loans for mortgage major HDFC and entering the low-cost housing segment will also help it to meet priority sector lending targets.

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