Mumbai/Kolkata: YES BANK and WheelsEMI Pvt. Ltd. have entered into a strategic co-lending agreement to offer two-wheeler loans at competitive interest rates. The partnership aims at synergizing respective capabilities to provide an efficient and seamless lending experience to two-wheeler buyers across India, says a press release.
The co-lending framework laid down by Reserve Bank of India provides a collaboration tool which benefits from the low-cost funds of a Bank and the sourcing and servicing expertise of a NBFC.
This alliance leverages the strengths of both lenders, making this a winning proposition for all stakeholders, thereby expanding the reach to underserved markets. Under the arrangement, both the lenders plan to finance over 1 lakh two-wheelers in the first phase.
Rajan Pental, Global Head – Retail Banking, YES BANK, said, “This arrangement will enable the Bank to enhance its reach by entering and deepening its presence in newer markets….