The private lender s portfolio comprises 8,529 accounts given to affordable home buyers with average principal loans ranging between Rs 10 lakhs and 12 lakhs. The bank reportedly invited offers in cash by December 2.
Sundaram Home Finance, a subsidiary of Sundaram Finance, has announced plans to enter the affordable home loan segment. The company will focus on tier 2 and tier 3 towns and sees this segment as a potential source of long-term growth. Sundaram Home Finance currently manages assets worth Rs 11,200 crore and recorded a net profit of Rs 215 crore in the previous financial year.
OlyFed Helps Open Doors of Affordable Housing to More Local Families thurstontalk.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thurstontalk.com Daily Mail and Mail on Sunday newspapers.