IIFL Home Finance, a subsidiary of IIFL Finance which is a NBFC registered with the Reserve Bank of India (RBI), has signed a MoU with Central Bank of India.
According to the official press release, IIFL HF expects to grow loan book by 18% in the coming times with this tie up. The loan sourcing and servicing will be managed by IIFL Home Finance and 80% of the loan will be provided by Central Bank.
IIFL Home Finance will service the customers through the entire loan life-cycle including sourcing, documentation, collection and loan servicing.
IIFL Housing finance recently entered into co-lending arrangement with Standard Chartered Bank. IIFL HF has also joined hands with ICICI.