IIFL Home Finance signed an agreement with the country’s second largest public sector bank (PNB) on Friday co-lending.
IIFL home finance With this association its loan books are expected to grow by 25 per cent. The loan sourcing and servicing will be managed by IIFL Home Finance and 80 per cent of the loan will be provided by PNB.
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IIFL Home Finance will serve the customers throughout the entire loan cycle from sourcing, documentation and collection to loan servicing.
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This is the fourth MoU with banks by IIFL Home Finance. Earlier this year, it signed agreements with the Central Bank of India and standard Chartered Bank.
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IIFL Home Finance has so far disbursed a total loan of Rs 170 crore under these arrangements.
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