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IIFL Home Finance announces launch of its Green Home Loan Product in support of sustainable living and green affordable housing in India

Gurgaon | Published On 2021-10-19T11:51:10IST | Press Release | 1 min read
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 IIFL Home Finance announces launch of its Green Home Loan Product in support of  sustainable living and green affordable housing in India

∙IIFL Home Finance Ltd. Furthers its commitment towards the Green Building eco-system in India with the launch of its new Green Home Loan offering

∙As a part of the new Green Home Loan, IIFL HFL offers its customers a Home Loan interest discount of 0.25%*, on the purchase of properties pre-certified by IGBC or GRIHA

∙As a special festive offer, new customers will get free Health Insurance of up to Rs.3.0 lakh, in collaboration with Digit Insurance

Gurgaon, 19th October, 2021: With the start of festivities in the country, IIFL Home Finance Ltd. (IIFL HFL), a subsidiary of IIFL Finance, announced launch of its new Green Home Loan product, emphasizing on the Green affordable housing eco-system in India. With the new product, IIFL HFL offers its new Home Loan customer an interest discount of 25 bps, if the customer applies Home Loan for a home or flat at a project pre-certified by IGBC (Gold/Platinum rating) or GRIHA (4/5 star rating). This offer is applicable for all new Home Loan customers across the country, who meet all product related pre-requisites and conditions as defined by the company.

IIFL HFL acknowledges and embraces the United Nations Sustainable Development Goals (UN SDGs) and has aligned its major efforts with 4 of the 17 UN SDGs, which are SDG 9, 10, 11 and 13. However, the company also contributes partially to other SDGs, and introduced its first Sustainability Report this year which is publicly available on the company’s website www.iiflhomeloans.com

The company recently organised a series of four webinars, under the aegis of the Ministry of Housing and Urban Affairs’ (MoHUA) initiative ‘Awas Pe Samvaad’. The objective of the webinars was to create an eco-system for Sustainable and Green Affordable Housing in India. Advocating the Government’s vision of ‘Housing for All', the virtual sessions aimed at discussing and disseminating the knowledge of ‘Housing in Urban Spaces’ amongst students, professors, architects, green building consultants, engineers, sustainability professionals, and urban practitioners and more. IIFL Home Finance has facilitated Credit Linked Subsidy to over 49,500 households from the Economically Weaker Section (EWS), Low Income Group (LIG) and Middle-Income Groups, under Pradhan Mantri Awas Yojana (PMAY - CLSS). The total subsidy disbursed so far amounts to Rs.1,000 crore.

Speaking on the launch of Green Home Loan IIFL HFL Festive Carnival, Mr. Monu Ratra, CEO & ED at IIFL HFL said, “We are a responsible housing finance company and have adopted and implemented a social objective across all aspects of our business, in line with vision of ‘Complete Profitability’ and ESG framework with increased focus on sustainable growth. With the launch of Green Home Loan, we want to encourage our customers and potential home buyers to opt for a more sustainable lifestyle, starting with investing a green certified housing.”

About IIFL Home Finance Limited:

Incorporated in 2006 and registered in 2009 with National Housing Bank (NHB), IIFL Home Finance Limited is a wholly-owned subsidiary of IIFL Finance Limited. The Company is one of India’s leading housing finance companies and is a preferred choice for affordable home loan requirements. Through their affordable home loans, IIFL Home Finance makes people's aspirations of owning a home a reality. As a technology driven housing finance player, we endeavor to make our customer experience as seamless as possible. We have made the entire life cycle of our housing loans i.e., from origination to closure, completely digitised. We have state-of the-art IT infrastructure which has helped in reducing costs, real time analysis of customer data, improving our control and underwriting functions, while increasing customer reach and distribution capability.

We operate a financially inclusive customer centric lending business and believe that our business model contributes significantly to the EWS and LIG segment. As of March 31, 2021, 74.90% of our live accounts was from customers who belonged to the EWS and LIG segment. Through the provision of loans for purchase of homes to a customer segment that is not serviced by the mainstream financial services sector and our employment of personnel in rural and semi urban locations across India, we are fulfilling an important social objective of economic upliftment for these segments of the Indian economy.

We offer customers a range of mortgage-related loan products, including (i) housing loans, for purchase of ready built residential units, under construction property by approved builders, self- construction, home improvement on pre-owned property and purchase of land for construction of residential property; (ii) secured business loans, for primarily meeting working capital requirement, business use and purchase of commercial property; and (iii) affordable housing project loans, to meet construction expenses of affordable housing projects of reputed developers.

For news and updates, visit https://www.iifl.com/home-loans and follow us on twitter at https://twitter.com/IIFLHomeLoan

For media queries, write to corpcom.hfc@iifl.com