IIFL Home Finance inks co-lending pact with PNB
- ByAyushi Ray | September 17, 2021
IIFL Home Finance inks co-lending pact with PNB which will help the banks to grow its loan book by 25 per cent from such partnerships. This is the fourth co-lending agreement signed by the company with banks, IIFL HFL said in a release. “IIFL HFL today announced and signed an agreement with PNB, India’s 2nd largest public sector bank, for co-lending. The loan sourcing and servicing will be managed by IIFL Home Finance and 80 per cent of the loan will be provided by PNB,” it said.
IIFL HFL said it expects to grow the loan book by 25 per cent with these associations. The company will service customers through the entire loan cycle, from sourcing, documentation, collection to loan servicing. It aims to penetrate into affordable housing loans and secured MSME loans, besides strengthening its portfolio. This arrangement will also help IIFL HFL offer attractive interest rates to its customers in 17 states, with a focus on Andhra Pradesh, Madhya Pradesh, Gujarat and Karnataka.
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