Banks, HFCs on hiring spree amid rising home loan demand: Report

As demand for home loans grows, banks, housing finance companies (HFCs) and NBFCs are hiring in huge numbers. The hiring activity across loans departments in the finance sector has gone up by 20-25 percent, experts say.

“Hiring has gone up by 22-25 per cent by banks, NBFCs and HFCs. This is especially the case in the last three to four months, especially after the second wave of the pandemic. A small portion seasonal in nature but we expect it to be largely sustained for the next few years. The requirement for additional staff is equally in urban and rural markets,” said Amit Vadera, Vice President, Staffing, TeamLease Services told The Hindu BusinessLine.

For the loan departments in banks, HFCs, and NBFCs, recruitment has been focused on the sales front for smaller cities as financial institutions try to attract customers with lower interest rates. Amid pandemic restrictions and work-from-home models, more people have shown interest in buying their own homes or upgrading to a larger home.