HDFC Tie-up with India Post Payments Bank for Home Loans

India Post Payments Bank (IPPB) has tied up with HDFC Limited, India’s premier housing finance company, to offer home loans to nearly 4.7 crores customers of IPPB. Leveraging its countrywide network of 650 branches and over 136,000 banking access points (post offices), IPPB aims to make HDFC’s home loan products and its expertise available to its customers across India. According to the HDFC, "The partnership aims to facilitate HDFC Ltd’s home loans to customers, especially in unbanked and underserved areas with many of them having little or no access to finance, to fulfil their dream of owning a home." IPPB will offer housing loans through nearly 190,000 banking service providers (postmen and gramin dak sevaks). J.Venkatramu, MD & CEO, India Post Payments Bank said, "Financial inclusion cannot be achieved without enabling access to credit. A significant chunk of our customers does not have a bank or a financial institution providing housing loans in their vicinity. Complemented by our robust network and HDFC’s leadership in the housing finance market, the alliance aims to make housing loans available and accessible, using a digitally-enabled agent banking channel and position IPPB as a one-stop platform for all banking needs of customers, including credit."