IIFL Home, ICICI Bank Join Hands for Affordable Housing Loans

IIFL Finance said its home loan subsidiary has tied up with ICICI Bank to provide affordable housing and MSME loans. IIFL Home Finance Ltd and ICICI Bank have entered into a sourcing and servicing arrangement to partner in ext

BY Realty Plus
Published - Tuesday, 22 Dec, 2020

IIFL Home, ICICI Bank Join Hands for Affordable Housing Loans

IIFL Finance said its home loan subsidiary has tied up with ICICI Bank to provide affordable housing and MSME loans. IIFL Home Finance Ltd and ICICI Bank have entered into a sourcing and servicing arrangement to partner in extending credit to the affordable housing loans & MSME loans (loan against property), IIFL Finance said in a regulatory filing. Under the tie-up, IFL Home will originate and service customers through the entire loan life-cycle including sourcing, documentation, collection and loan servicing and in turn, ICICI Bank will provide funding to these customers. Definitive agreements for the arrangement, including the sourcing agent agreement and service provider agreement were executed between IIFL Home and ICICI Bank on December 18.