Wizard Home Loans increasing their branch numbers in India
Non-bank home loan company, Wizard Home Loans in a joint venture with GE Money is planning to add six new cities to their existing business network in India.
Wizard home loans currently have 17 branches in India offering home loans at 9.99%. The company hopes to add another 30 to 40 offices in six Indian cities over the next 12 months as it attempts to gain the lions share of the local home loan market.
Wizard has already forced other lenders to drop their home loan interest rates to the levels they are offering.
Wizard and GE Money will be investing USD 200 million the project and expect to have more than 250 branches across India by 2011.
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