IIFL Home Finance
expects loan book growth by 18%, signs MOU with Central Bank of India for Co-lending
·
The home loan sourcing and servicing will
be managed by IIFL Home Finance and 80% of the loan will be provided by Central
Bank
·
IIFL Home Finance Ltd. to offer more
attractive interest rates to its customers
Chennai, June 8th, 2021: IIFL Home Finance, a subsidiary of IIFL
Finance Limited which is an NBFC registered with the Reserve Bank of India
(RBI), announced their association and signed MoU with the Central Bank of India,
one of India’s largest commercial bank for LIG* and MIG** Sector lending
for home loans. IIFL HF expects to grow the loan book by 18% in the coming times
with this tie-up. The loan sourcing and
servicing will be managed by IIFL Home Finance and 80% of the loan will be
provided by Central Bank.
IIFL
Home Finance will service the customers through the entire loan life-cycle
including sourcing, documentation, collection and loan servicing. This
association will significantly strengthen IIFL Home Finance Ltd.’s portfolio of
lending Home Loans to larger target customers in India. The arrangement will also help IIFL Home Finance to offer more
attractive interest rates to its customers.
IIFL
HFL recently facilitated the distribution of CLSS subsidy benefits to over 43,000
beneficiary households under Pradhan Mantri Awas Yojana. IIFL HF facilitated
subsidy benefits in 17 states, totalling over Rs.1025crore. The company has to
date disbursed loans to over 1,25,000 happy families.
Speaking
on the development, Mr Monu Ratra, CEO & ED at Home Finance Ltd said,
“We are excited to partner with Central Bank of India, the collaboration will
reinforce our strategy and objective of increasing our reach in the affordable
housing segment, target
untapped customers and hereby grow our book significantly under the co-lending
mechanism. We understand that the Pandemic has affected many and their buying
capacity, through this Co-lending association, we will be able to provide more
affordable home loans to first time home buyers at competitive prices and
thereby also help in the revival of the market."
Mr Ratra added, “This association will further strengthen the reach
of both the lenders, creating a winning proposition for all stakeholders. IIFL
Home Finance with its rich origin and years of experience in Home Loan
origination and servicing capabilities, including digitally advanced lending
platform, while the Central Bank of India will be bringing in its strength of lower
cost funds.”
IIFL
Housing finance recently entered into a co-lending arrangement with Standard
Chartered Bank, one of the leading foreign bank in India for extending credit to MSME loans (loan against
property). IIFL HF has also joined
hands with ICICI, the second-largest private sector bank in India for affordable housing, MSME loans.
As
a fintech housing finance company,
IIFL Home Finance is dedicated to make
their customers’ journey of owning a
home as seamless as possible by leveraging their future-ready technology the system, which offers 100% digital on-boarding.
About IIFL Home Finance Limited:
IIFL Home Finance Limited,
a company incorporated under the Companies Act, 1956 (CIN:
U65993MH2006PLC166475) and registered as a Housing Finance Company with the
National Housing Bank vide Certificate of Registration (COR) No. 09.0175.18
dated September 25, 2018. The Company is a subsidiary of IIFL Finance Limited
which is an NBFC registered with the Reserve Bank of India (RBI). IIFL Home
Finance Limited. is professionally managed and shares the professional values and
ethos of its parent and holding company India Infoline Finance Limited; It has
acquired and maintained a reputation for reliability, transparency of operation
and absolute integrity. A steady growth rate validates the trust that the industry
has reposed in the Company. IIFL Home Finance Limited currently has 125+
branches across India, a strength of 2000+ Employees and 13000+
pre-approved projects pan India. It has acquired and maintained a reputation for
reliability, transparency of operation and absolute integrity. A steady growth
rate validates the trust that customers have reposed in the company. For more
details, please visit www.iifl.com/homeloans.com
For further details,
please contact:
|
Debashree Chatterjee Mob: 9833275977 |
Parinita Dolas Mob: 9819961106 Email: Parinita@conceptpr.com
|
*Low Income Group
** Mid income Group
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