BusinessWire India
Mumbai (Maharashtra) [India], July 1: Mirae Asset Sharekhan, one of India's leading retail financial services providers, announced a strategic corporate referral partnership with Shinhan Bank India, a subsidiary of Shinhan Financial Group (Korea's leading financial giant) with a global footprint spanning 20 countries.
Under this alliance, Mirae Asset Sharekhan will act as a Corporate Referral Partner for Shinhan Bank India's retail loan products, facilitating referrals of eligible customers to Shinhan Bank India for Home Loan and Car Loan products. Final approval and sanction shall remain at the sole discretion of Shinhan Bank India
Enhancing Value for Customers
Guided by the core belief, 'Empowering Your Dreams', this strategic tie-up aims to combine Mirae Asset Sharekhan's extensive wealth management strength with Shinhan Bank's competitive lending products. Customers can now access a complete financial ecosystem encompassing Investing, Mutual Funds, ETFs, and premium retail loans under one umbrella.
Key highlights of the customer offerings include:
- Access to Loan Products: Customers may access Home Loans and Car Loans offered by Shinhan Bank India through a referral process
- Interest Rates: Loans may be available from interest rates starting at 7.10%* for housing loans and 7.70%* for car loans, as determined and offered solely by Shinhan Bank India
- Simplified Access & Relationship-Based Sourcing: Faster loan processing and personalized assistance, leveraging the trusted relationship customers share with Mirae Asset Sharekhan as a referral facilitator
- Two-Way Synergy: While Sharekhan customers gain access to premium retail loans, Shinhan Bank will refer clients seeking Demat, trading, and investment facilities to Mirae Asset Sharekhan
- Independent Engagement: All loan processing, documentation, approval, and servicing will be undertaken exclusively by Shinhan Bank India
Shinhan Bank operates a specialized, high-value network in India rather than a large pan-India retail footprint. Accordingly, these retail loan products will be focused on and serviced across the regions where the Bank has an established offline presence. For this tie-up, Client Referral Facilitation will be seamlessly coordinated through Mirae Asset Sharekhan's network of 60+ priority branches and business partners, strategically located across Shinhan Bank's active hub locations, including Mumbai, New Delhi & NCR, Pune, Ahmedabad, Ranga Reddy/Hyderabad, and Poonamallee/Chennai.
Mirae Asset Sharekhan, through its branch and business partner network in these locations, may facilitate introductory connections between interested customers and representatives of Shinhan Bank India.
Mr. Moon Kyung Kang, CEO of Mirae Asset Sharekhan, said: "It is our constant endeavour to expand access to a wide range of financial solutions for our customers. Through this arrangement with Shinhan Bank India, we aim to facilitate customer access to third-party lending products, while continuing to focus on our core offerings in investment and wealth management. Customers are encouraged to independently evaluate such products before availing them."
Mr. Kim KeunHo, CEO of Shinhan Bank India, said: "This strategic partnership represents a significant milestone in Shinhan Bank India's retail banking growth journey. By combining Mirae Asset Sharekhan's Pan-India presence with Shinhan Bank India's lending expertise, we aim to deliver a seamless, transparent and customer-focused borrowing experience. Together, we are well positioned to create greater value for customers and support their aspirations through innovative and responsible financial solutions."
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