GE Money Home Loan Is Now Magma FinCorp Home Loan

2112 Views GE Money

GE Capital India agreed to sell its mortgage loan business arms to Magma FinCorp for undisclosed amount on 8th November 201.

This marks GE Capital’s exit from the mortgage loan business in India.

GE Money Housing Finance with a networth of Rs 193 crore has loan assets of Rs 660 crore at the end of March 2012.

At the same time, entire home equity loans portfolio of GE Money Financial Services, another affiliate of GE Capital, was about Rs 940 crore at the end of May 31, 2012.

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Top Banks for Home Loans in India

Banks	Interest Rates
SBI	8.60% - 9.65%
HDFC Bank	8.50% - 9.40%
ICICI Bank	9.00% - 9.10%
LIC Housing Finance	8.50% - 10.50%
PNB Housing	8.50% - 10.95%
Axis Bank	8.75% - 9.15%
Bank of Baroda	9.15% - 10.50%
Canara Bank	8.90 %- 11.25%
Aadhar Home loan	N.A

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