IIFL Home, ICICI Bank join hands for affordable housing, MSME loans

By: |
December 19, 2020 4:41 PM

Under the tie-up, IFL Home will originate and service customers through the entire loan life-cycle

IIFL Finance, ICICI Bank, affordable homes, msme sectorIIFL Home Finance Ltd and ICICI Bank have entered into a sourcing and servicing arrangement . (Representative Image).

IIFL Finance on Saturday 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, it added.

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, the filing said.

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