IIFL Home Finance signs pact with PNB for co-lending

IIFL Home Finance on Friday signed an agreement with Punjab National Bank (PNB), the country's second largest public sector bank, for co-lending.


ANI | New Delhi | Updated: 17-09-2021 14:43 IST | Created: 17-09-2021 14:43 IST
IIFL Home Finance signs pact with PNB for co-lending
The company's focus is to provide loans for first-time home buyers in lower income segments across tier 1, tier 2 and tier 3 cities.. Image Credit: ANI
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IIFL Home Finance on Friday signed an agreement with Punjab National Bank (PNB), the country's second largest public sector bank, for co-lending. IIFL Home Finance expects to grow their loan books by 25 per cent with this association. The loan sourcing and servicing will be managed by IIFL Home Finance and 80 per cent of the loan will be provided by PNB.

IIFL Home Finance will service customers through the entire loan cycle -- from sourcing, documentation and collection to loan servicing. This is the fourth agreement signed by IIFL Home Finance with banks. Earlier this year, it signed agreements with ICICI Bank, Central Bank of India and Standard Chartered Bank.

IIFL Home Finance has disbursed loans totalling Rs 170 crore under these arrangements so far. (ANI)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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