IIFL Home Finance Ltd. (IIFLHFL) said it has signed an agreement with Punjab National Bank (PNB) for co-lending. It expects to grow its loan book by 25% with this association, IIFLHFL said. “Loan sourcing and servicing will be managed by IIFL Home Finance and 80% of the loan will be provided by PNB,” it added.
The HFC said it will service the customers through the entire loan cycle, from sourcing, documentation, collection to loan servicing. This association will allow it to further penetrate into affordable home loan and secured MSME loan markets, it added.
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