I have created a small sample project using Swift. I have created an "MyCustomView" as xib which contains label, button and imageView as shown in below code:
import UIKit
@IBDesignable class MyCustomView: UIView {
    @IBOutlet weak var lblName: UILabel!
    @IBOutlet weak var btnClick: UIButton!
    @IBOutlet weak var myImageView: UIImageView!
    var view:UIView!
    @IBInspectable
    var mytitleLabelText: String? {
        get {
            return lblName.text
        }
        set(mytitleLabelText) {
            lblName.text = mytitleLabelText
        }
    }
    @IBInspectable
    var myCustomImage:UIImage? {
        get {
            return myImageView.image
        }
        set(myCustomImage) {
            myImageView.image = myCustomImage
        }
    }
    override init(frame : CGRect)
    {
        super.init(frame: frame)
        xibSetup()
    }
    required init?(coder aDecoder: NSCoder) {
        super.init(coder: aDecoder)
        xibSetup()
    }
    func xibSetup()
    {
        view = loadViewFromNib()
        view.frame = self.bounds
        // not sure about this ?
        view.autoresizingMask = [UIViewAutoresizing.FlexibleWidth, UIViewAutoresizing.FlexibleHeight]
        addSubview(view)
    }
    func loadViewFromNib() -> UIView {
        let bundle = NSBundle(forClass: self.dynamicType)
        let nib = UINib(nibName: "MyCustomView", bundle: bundle)
        let view = nib.instantiateWithOwner(self, options: nil)[0] as! UIView
        return view
    }
}
Attached the image of xib for the reference.

In StoryBoard -> ViewController added UIViewCollection which as shown in the below image. In this viewcollection, I need that orange color cell to contain my custom xib to be loaded at runtime.
How do I achieve this?
New Modified code as suggested by Sandeep
// 1 import UIKit
class ViewController: UIViewController {
    @IBOutlet weak var collectionView: UICollectionView!
    override func viewDidLoad() {
        super.viewDidLoad()
        self.collectionView.register(UINib(nibName: "MyCustomView", bundle: nil), forCellWithReuseIdentifier: "myCell")
    }
    override func didReceiveMemoryWarning() {
        super.didReceiveMemoryWarning()
        // Dispose of any resources that can be recreated.
    }
    func collectionView(collectionView: UICollectionView, numberOfItemsInSection section: Int) -> Int {
        return 7
    }
    func numberOfSectionsInCollectionView(collectionView: UICollectionView) -> Int {
        return 1
    }
    func collectionView(collectionView: UICollectionView, cellForItemAtIndexPath indexPath: NSIndexPath) -> UICollectionViewCell {
        let cell : MyCustomView = collectionView.dequeueReusableCellWithReuseIdentifier("your_reusable_identifier", forIndexPath: indexPath) as! MyCustomView
        cell.lblName.text = "MyNewName"
        return cell
    }
}
// 2 import UIKit
@IBDesignable class MyCustomView: UICollectionViewCell {
    @IBOutlet weak var lblName: UILabel!
    @IBOutlet weak var btnClick: UIButton!
    @IBOutlet weak var myImageView: UIImageView!
    var view:UIView!
    @IBInspectable
    var mytitleLabelText: String? {
        get {
            return lblName.text
        }
        set(mytitleLabelText) {
            lblName.text = mytitleLabelText
        }
    }
    @IBInspectable
    var myCustomImage:UIImage? {
        get {
            return myImageView.image
        }
        set(myCustomImage) {
            myImageView.image = myCustomImage
        }
    }
}


