· The Partnership will provide affordable home loans through the use of digital technology
· The Partnership will target paperless processing of home loans through ICICI HFC’s expertise in the affordable housing and Easy’s (Easy Home Finance Ltd ) technology
Mumbai, June 03, 2022: Easy Home Finance Ltd (EASY), India’s leading mortgage tech company, along with ICICI Home Finance Company Limited (ICICI HFC), one of the India’s leading affordable housing finance company have entered into a co-lending partnership to disburse affordable home loans in the country. This partnership will leverage ICICI HFC‘s expertise in affordable housing segment and EASY’s tech capabilities to enable quick disbursement of affordable home loans and make the dream of owning a home come true, for millions of Indians.
EASY is a pioneer in the mortgage tech space in the Indian Subcontinent. On the other hand, as one of the leading affordable housing finance company, ICICI HFC has been instrumental in providing a range of Regular Home Loan, Affordable Home Loan, LAP, Micro LAP, Home Improvement Loan, and Construction Finance to developers. The co-origination, underwriting and disbursement activities from both the parties together will enable a seamless process for new home buyers. Easy’s asset-light model of Neo Banking Mortgage and a greater reach for digital home loans combined with rural – urban connect of ICICI HFC will help customers get home loan processed faster.
Mr. Rohit Chokhani, Managing Director, Easy Home Finance Limited, said, “Our perennial alliance with ICICI Home Finance is a significant step towards providing affordable home loans and reaching added Indian households. In a bid to offer paperwork-efficient, cost-effective, and hassle-free home loans in the market, we are embarking on this journey. As a common motive of being more customer-centric and broadening our geographical footprint, we aim at making our customers’ home ownership journey easier while offering them highly-interactive digital experiences. Furthermore, customers will now be able to enjoy the best of both worlds; the trust and experience of ICICI HFC and the tech-focused offerings of Easy.”
Speaking on the partnership, Mr. Anirudh Kamani, Managing Director and CEO, ICICI Home Finance Company Limited, said, “We are excited to partner with Easy Home Finance to take our vision to make the dream of owning a home come true for millions of Indians. This partnership will help us provide affordable home loans faster and a seamless home buying experience for our customers. We look forward to a long term relationship with Easy Home Finance and work towards our common goal to support Housing for All”.
The partnership will benefit customers in numerous ways such as eradicating the hassle of long home loan procedures and paperwork.
Easy Home Finance Limited earlier had announced a MaaS (Mortage as a Service) partnership with ESAF Bank, and now with ICICI Home Finance, it is the next step to expand and grow as India's leading Mortgage Tech Company. All this is only possible with EASY's proprietary homeownership technology platform, 'Fox', which will be used throughout all their partnerships. The company had earlier raised its Series-A round from domestic private equity Xponentia Capital, as well as Harbourfront Japan, Finsight VC, RaSa Future Fund, Navida Capital Sweden & Integra Software.
About Easy Homes Finance Limited:
Easy Home Finance Limited (EASY) is a Mortgage-Tech Home Finance built around the customer. The company aims to become India's youngest and most vibrant Fintech / Mortgage Tech with a stellar Board of Directors. EASY works towards the vision of becoming India's most loved brand. The Company is backed by Xponentia Capital, Harbourfront Capital, Finsight VC, RaSa Future Fund, Navida Capital. Easy leverages cutting-edge Technology making it a leader in the mortgage tech housing loan industry. With the aim to provide faster, better, cheaper affordable mortgages/home loans, the company is committed to its customers and believes in true customer value and satisfaction.
Regulatory Disclosure:
EASY is registered Housing Finance Company (HFC) under the Non-Banking Financial Company Regulation of the Reserve Bank of India (RBI) and is registered with the National Housing Bank (NHB) under section 29A of the National Housing Bank Act, 1987. Having Certificate of Registration No. 07.0173.18 dated July 31, 2018
To know more about Easy Home Finance Limited, please visit our website
https://www.easyhomefinance.
About ICICI Home Finance Company Limited:
ICICI Home Finance Company Limited (ICICI HFC) is a Housing Finance Company (HFC) registered with National Housing Bank (NHB) and is a wholly-owned subsidiary of ICICI Bank Ltd.
A part of the 66-year-old ICICI Group, the vision of ICICI Home Finance is to make the dream of owning a home come true, for millions of Indians. The primary business of the Company is to provide a range of home loans and home improvement loans, office premises loans, home equity loans to customers and construction finance to developers.
Today, the Company has over 2,400 plus employees and 174 standalone branches, including 14 zonal offices in the country.
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