India Mortgage Guarantee Corporation (IMGC) has announced a strategic partnership with Bajaj Housing Finance Limited (BHFL) to expand access to affordable home loans through mortgage guarantee.
India Mortgage Guarantee Corporation is India’s first mortgage guarantee company. IMGC is regulated by the Reserve Bank of India's (RBI) guidelines for mortgage guarantee companies (2008).
Bajaj Housing Finance, a subsidiary of Bajaj Finance, is India’s leading non-deposit-taking housing finance company (HFC).
Under the partnership, IMCG and BHFL will expand access to home loans for underserved and first-time homebuyers across India.
The collaboration combines IMGC’s expertise in credit risk protection with BHFL’s strong distribution and last-mile lending capabilities to extend formal housing finance to borrowers often excluded due to limited credit histories or informal income profiles.
Through this partnership, Bajaj Housing Finance will leverage mortgage guarantee-backed solutions to expand access to home loans, including through Sambhav Loans, its affordable housing offering designed specifically for customers with informal income profiles or limited credit history.
The partnership will also enable IMGC to deepen its presence in the affordable housing space, supporting the development of a more inclusive housing finance ecosystem and helping bridge the significant housing credit gap across India.
As per data, India’s total outstanding housing credit stood at Rs 43 trillion as of February 2026, yet mortgage penetration remains low at around 11-12 per cent of GDP. In several developed markets, the penetration is more than 50 per cent.
According to EY estimates, India’s affordable housing segment grew at 25 per cent CAGR between 2022 and 2027.
