IIFL Finance’s wholly owned subsidiary -- IIFL Home Finance (IIFL HFL) has entered into a strategic co-lending partnership with State Bank of India (SBI) to accelerate effective and affordable credit to small home buyers in the country. The loan sourcing and servicing will be managed by IIFL HFL. Under the arrangement, 80 per cent of the loan will be provided by SBI.
IIFL HFL will service the customers throughout their entire loan cycle, from sourcing, documentation, disbursal to collection. This will help the company to penetrate further into the affordable home loan segment. This arrangement will also help the company in offering attractive interest rates to its customers.
IIFL Finance is an Indian diversified financial services company.
