IIFL Home joins hands with ICICI Bank for affordable housing, MSME loans

IIFL Home, the subsidiary of IIFL Finance has tied up with ICICI Bank to provide affordable housing and MSME loans. Under the tie-up, IFL Home will originate and service customers through the entire loan life-cycle

“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 arrangements including the sourcing agent agreement and service provider agreement were executed between IIFL Home and ICICI Benk on December 18, the filing added.