Central Bank of India has entered into a strategic Co-Lending partnership with M/s IKF Home Finance to offer MSME and Home Loans at competitive rates, subject to compliance with the applicable law(s) including the applicable guidelines issued by Reserve Bank of India (RBI). The participation by both the entities in this Co-Lending arrangement will result in greater expansion of portfolio by Central Bank of India and M/s IKF Home Finance.
Under the arrangement, M/s IKF Home Finance will originate and process Loan proposals under Retail and MSME Sector as per jointly formulated credit parameters and eligibility criteria and Central Bank of India will take into its books 80% of the MSME and Home Loans under mutually agreed terms. M/s IKF Home Finance will service the loan account throughout the life cycle of the loan. The Co-Lending arrangement is expected to help both the entities to offer convenient experience and customer delight to their customers as well as help expand their reach across India.
Central Bank of India is a commercial bank. The bank’s segments include Treasury Operations, Corporate/Wholesale Banking, Retail Banking and other Banking business.
