Leading private lender, IIFL Finance has said, “It’s home loan subsidiary IIFL Himes has partnered with ICICI Bank to provide affordable housing loans and MSME loans.”
In a filing with the stock exchange, IIFL Finance said, “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).”
“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 statement said.
