MORTGAGE INSURANCE

Bachelor of Commerce
Banking & Insurance
Semester VI
Submitted In Partial Fulfillment of the Requirements
For the Award of Degree of
Bachelor of Commerce- Banking & Insurance
By
NidhiVenugopalShetty
ROLL NO: I.13.52
Project Guide
Mr. R.Perumal
UNIVERSITY OF MUMBAI
SIES (Nerul) College of Arts, Science & Commerce
Plot 1-E, Sector-V, Nerul
Navi Mumbai- 400706
(2015-2016)

CERTIFICATE
This is to certify that MISS. Nidhi Venugopal Shetty of
B.Com Banking& Insurance Semester-V (2015-2016) has
successfully completed the project on mortgage insurance
under the guidance of Mr. R.Perumal.

Project Guide
Principal
Mr.R.Perumal
Basu

Co-ordinator
Mrs. Bhumika More

Dr. Rita

Internal Examiner
Examiner

External

DECLARATION

I, Miss. Nidhi Venugopal Shetty, the student of B.Com

Banking & Insurance Semester-V (2015-2016) hereby
declare that I have completed the project on mortgage
insurance.
The information is true & original to the best of my
knowledge.

Signature
Nidhi Venugopal Shetty
I.13.52

ACKNOWLEDGEMENT
It gives me immense pleasure in acknowledging the
valuable and cooperative assistance extended to me by
various individuals who have helped me in completing the
project.
First of all, I would like to show my gratitude to my
coordinator Professor Bhumika More and my guide
Mr.R.Perumal for their assistance, encouragement and
support in completing the project.
I would also like to express my gratitude to all customers
in various banks in helping me in my survey to complete
their project.

I would also like to thank my parents, friends, and

colleagues who have supported me in completing my
project.
I would like to thank Mumbai University for giving me
the opportunity to carry out this research.
The encouragement of all these people has helped me
towards achieving my goals.

OBJECTIVE
This project aims in giving a brief understanding
about the meaning and various elements of mortgage
insurance.
To understand the necessity and importance of
mortgage insurance.
To understand why mortgage insurance play an
important role in human life.
To familiarize with different services provided by
mortgage insurance

 To find out the growth potential of mortgage insurance

companies in India.

Research Methodology
Primary data:
The

primary

data

was

collected

from

the

respondents (Branch manager and employees of the

Banks) with the help of proper questionnaire.

Secondary data:

Apart from primary data, the secondary data is

being collected through textbooks and internet is used for
this study

Research limitations:
A comparative study on process of many banks together
could not be done only for banks were taken in to
consideration due to time limitation
Research on certain banks cannot be done due to lack of
Bank Corporation.

EXECUTIVE SUMMARY

Mortgage Insurance is a financial guaranty for the lender

that will help to reduce or eliminate a loss in the case of
default by the borrower. In other words, mortgage insurance
spreads the risk between the lender and the insurance

company. The reason why the individual should take

mortgage insurance is that without mortgage insurance,
many lenders would not be able or willing to accept the risk
of lending.

Mortgage insurance India is a very new concept pertaining to

the mortgage industry in India. The mortgage insurance is an
insurance covered for the default of repayment of the
mortgage loan by the customers. This concept is present for
long time in mortgage market across the world but it is in a
nascent state in India. The mortgage industry in India is
considered as an important but a decisive factor in the
infrastructural developments and real estate based actives
has turned powered the growth of the mortgage industry in
India .The mortgage industry in India improving day by day
and there is a sudden surge in market for credit.

The mortgage industry in India is expected to grow at a rapid

rate in a few year times. The Indian mortgage industry is
dominated by housing finance companies like LIC Housing
Finance, HDFC etc. They are the main provider of the
mortgage protection insurance in India. Case study of each of

these companies has been covered in the following project,

how mortgage insurance is different from other insurance
along with its advantages and disadvantage has been
discussed

INDEX

SR.NO
1
2
3
4
5
6
7

CHAPTER
Introduction of insurance
Meaning of insurance
Mortgage insurance
Types of mortgage insurance
Benefits of mortgage insurance
Mortgage in India
Case study
Kotak Mahindra
Scotia bank

Findings
Kotak Mahindra
ICICI bank
Annexure

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