IIFL Home Finance (IIFL HFL) expands to add over 100+ branches nationwide

• Expansion conducted in 11 states including Andhra Pradesh, Telangana, Tamil Nadu, Maharashtra, Punjab, Rajasthan, Karnataka, Gujarat, Haryana, Uttar Pradesh and Madhya Pradesh, with presence in 16 states.

• IIFL HFL targets growth in tier 2-3 cities to reach to the masses. Currently about 10% of business comes from these markets which the company targets to take to 18-20% over next few years.

• IIFL HFL disbursed over Rs. 28,900 cr of home loan to over 166,765 beneficiaries since inception till date. Majority of them being first time home buyers hence aligned to ‘Housing for All’ mission by Government of India.

• To enable buyers for owning their first home, IIFL HFL has so far facilitated CLSS subsidy to over 55,000 customers worth Rs. 1,300 cr.

• To enable the MSME sector IIFL HFL has also introduced a product for the market under the Shakthi Loan which is secured against their properties to boost the ‘Make in India’ initiative. IIFL HFL has been supporting the MSME sector with over 40,000 loans.

• IIFL HFL believes in not only providing finance for homes but also enable these affordable housing buyers with healthy and respectable choices, which IIFL HFL does by promoting green and affordable housing nationwide.

• IIFL HFL is already undergoing a Technical Assistance program with Asian Development Bank (ADB).

1^st August 2022, New Delhi: IIFL Home Finance Ltd (IIFL HFL), India’s fastest growing digital first home finance company, expanded to add over 100 branches in Andhra Pradesh, Telangana, Tamil Nadu, Maharashtra, Punjab, Haryana, Rajasthan, Karnataka, Gujarat, Madhya Pradesh and Uttar Pradesh on August 1, 2022. With the expansion, IIFL HFL’s total branch network has expanded to 268 branches across 16 states till June, with the leading home loan entity aiming for a total of 350 branches by next financial year and 500 branches by FY 2025-26. The ambitious expansion by IIFL HFL aligns with the company’s focus on scaling up in FY 22-23 and coming years. IIFL HFL targets growth in tier 2-3 cities to reach to the masses. Currently about 10% of business comes from these markets which the company targets to take to 18-20% over next few years.

These branches will be focusing on IIFL Affordable Home Loan and Shakthi Loan Against Property, catering to first time home buyers and small business of the country, aiming to serve the underserved customers from the EWS/LIG section of the society. The company has disbursed over Rs. 28,900 cr of home loan to over 166,765 beneficiaries since inception till date. Majority of them being first time home buyers hence aligned to ‘Housing for All’ mission by Government of India.

The company offers loans through digital and paperless process, providing loan approval in just 25* minutes. While IIFL focusses on providing affordable home loan, they will now also offer IIFL Shakthi Loan which is a small ticket size Loan Against Property for small business owners such as, small grocery store owners, salon owners, vegetables vendors, small traders and agricultural ancillary owners. To enable the MSME sector, IIFL Shakthi is secured business loan to boost the ‘Make in India’ initiative. IIFL HFL has been supporting the MSME sector with over 40,000 loans.

With ’25 minute loan approval and Loan starting from Rs. 2 lakh only!’ as the main messaging, IIFL HFL launched its brand campaign for 100+ branch launch in 11 states across mediums such as print, digital, influencer marketing, OOH, Below the Line (including ATM, Auto Branding, etc) and Cable TV. The campaign commenced with a short and impactful video on digital platforms, and is targeted towards the deeper geographies of India, especially the EWS/LIG section. While the quirky and relatable video communication was conceptualised by the company’s creative agency The Minimalist, the campaign was designed internally by the Marketing Team at IIFL Home Finance. The campaign focusses on the two major offerings of IIFL HFL, Home Loan and Shakthi Loan Against Property.

At the momentous occasion, Monu Ratra (ED and CEO) said, “We are taking a giant leap towards financial inclusion, and our focus is to provide India’s potential home buyers and small business owners, from a specific LIG/EWS economic strata, easy access to affordable loans. Opening of these new branches will be our humble contribution to the nation’s socio-economic development”.

As a fintech housing finance company, IIFL HFL is dedicated to making its customers’ journey of loan process as seamless as possible; by leveraging its future-ready technology which offers 100% digital onboarding of its customers.

To know more, https://www.iiflhomeloans.com/kutumb

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About IIFL Home Finance-

IIFL Home Finance Limited (IIFL HFL) is a wholly-owned subsidiary of IIFL Finance Limited. It is one of India’s leading housing finance companies and is a preferred choice for affordable home loan requirements. As of 31^st March 2022, the AUM stood at Rs 23,617 crore of which home loan is 74% of the total with an average ticket size of Rs 16 lakh. The Return on Assets (ROA) for the period is at 3.5%. Through affordable home loans, IIFL HFL makes people’s aspirations of owning a home a reality, while emphasizing on supporting green buildings and projects that help society achieve inclusive sustainable development. The objective is to fulfill economic upliftment for EWS/LIG segments of the country. The company has adopted an asset light model by getting into Co-Lending arrangements that further helps to penetrate and expand in deeper markets of India. To make customer experience seamless the entire life cycle of housing loans is technology driven i.e., from origination to closure. The state-of-the-art IT infrastructure helps in reducing costs, real-time analysis of customer data, improving control and underwriting functions, while increasing customer reach and distribution capability.