JOIN USNon-banking finance company (NBFC) Fullerton India Credit Company (FICC), a wholly owned subsidiary of Fullerton Financial Holdings, Singapore, on Wednesday announced that it has applied to the National Housing Bank (NHB) for housing finance licence.
Rakesh Makkar, executive vice president and head of Urban and Rural Business, Fullerton India, told Deccan Herald that once the company gets the approval, it will commence disbursing housing loans. “Fullerton has 60 branches in Karnataka (41 in rural, and the rest urban). To begin with, our branches in eight cities — Bengaluru, Mysore, Shimoga, Mangalore, Hubli, Belgaum, Tumkur, and Harihar — will provide loans for housing. In Karnataka we serve two lakh customers,” he said.
When asked about the housing interest rate, Rakesh said, “It’s too early to comment on it. But it will be competitively priced.” Fullerton provides two-wheeler and personal loans, among others. “If you take smaller cities there’s nobody to provide loans. Our employees go to the door-steps of people, carrying tablets and small printers. We are reaching out to more people,” he said.