India's third largest private sector lender Axis Bank on Tuesday launched a home loan product christened as "Empower Home Loan" for the self-employed individuals. It offers floating rate of interest to resident Indians.
"Self-employed people are the backbone of the India growth story. However, credit availability to this group tends to be limited. With the Empower Home Loans Axis Bank would like to partner in the progress of this group of customers and reward them for good credit behavior," said Jairam Sridharan, head-consumer lending & payments at Axis Bank.
Axis Bank currently offers a base rate of 10%. On floating rate basis, the bank charges 10.75% (including a spread of 75 basis points) for home loans up to Rs 25 lakh. However, the lender did not specify any rate for this scheme in the press release.
Customers with good repayment track record, according to a bank release, are rewarded with assured three rate reductions at the end of 2nd, 3rd and 5th year. Under this scheme, the customers can avail a loan of up to Rs. 100 lakh in tier I and tier II cities and up to Rs 50 lakh in rest of the other cities and villages.
The minimum loan amount is Rs. 10 lakh with a maximum tenure of 15 years subject to the age of borrower not exceeding 65 years at loan maturity. A borrower can avail this scheme for the purpose of purchasing an under-construction or ready possession or resale house. The bank can extend the same credit for buying plots or reconstruction/extension of existing home.
Home loans to self employed individuals of late assumed importance in light of financial inclusion.
"Informal sector borrowers are growing in numbers and contributing to the economy as well." V Verma, CMD - National Housing Bank (NHB), the regulator for housing finance companies told moneycontrol.com on Monday.
"However, few lenders are comfortable in lending informal sector borrowers. They are people who constitute the large section of the market and expanding. They have the ability to service the loan. Now, if lenders have skills to appraise them. It is what I call innovation," he said.
saikat.das@network18online.com
Anda sedang membaca artikel tentang
Axis Bank launches home loan scheme for self-employed
Dengan url
https://kesehatanda.blogspot.com/2013/04/axis-bank-launches-home-loan-scheme-for.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Axis Bank launches home loan scheme for self-employed
namun jangan lupa untuk meletakkan link
Axis Bank launches home loan scheme for self-employed
sebagai sumbernya
0 komentar:
Posting Komentar