Partnership Announcement
Mirae Asset Sharekhan, a leading retail financial services provider in India, has entered into a strategic corporate referral partnership with Shinhan Bank India, a subsidiary of South Korea's Shinhan Financial Group. The alliance enables Mirae Asset Sharekhan to refer eligible customers to Shinhan Bank India for home and car loan products. However, final loan approval and sanction remain at the sole discretion of Shinhan Bank India.
Customer Benefits and Offerings
Under the partnership, customers gain access to a comprehensive financial ecosystem covering investments, mutual funds, ETFs, and premium retail loans. Key highlights include home loans starting at 7.10% and car loans from 7.70% interest rates, as determined by Shinhan Bank India. The referral process leverages Mirae Asset Sharekhan's trusted relationship with clients for faster loan processing and personalized assistance.
In a two-way synergy, Shinhan Bank India will refer its clients seeking demat, trading, and investment facilities to Mirae Asset Sharekhan. All loan processing, documentation, approval, and servicing will be handled exclusively by Shinhan Bank India.
Regional Focus and Coordination
Shinhan Bank operates a specialized, high-value network in India rather than a pan-India retail footprint. Therefore, the retail loan products will be focused on regions where the bank has an established offline presence. Client referral facilitation will be coordinated through Mirae Asset Sharekhan's network of 60+ priority branches and business partners located in key hubs: Mumbai, New Delhi & NCR, Pune, Ahmedabad, Ranga Reddy/Hyderabad, and Poonamallee/Chennai.
Executive Statements
Mr. Moon Kyung Kang, CEO of Mirae Asset Sharekhan, stated: "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, added: "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."
