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Aadhar Housing Finance launches a first of its kind housing finance product for the informal segment

India Blooms News Service | | 29 Jun 2015, 08:44 pm
Kolkata, June 29 (IBNS): Aadhar Housing Finance Limited (Aadhar), a leading low-income housing finance company, today announced the launch of its “No Income Proof Product” for the informal segment.

The unique product will offer home loans to self-employed professionals in the economically weaker and Low Income Group segments in the urban areas and towns.

This new product is available for customers with a monthly income ranging from INR 5,000 to INR 30,000.

Aadhar will offer home loans from Rs 2 lacs to Rs 15 lacs for purchase of flat, purchase of plot and construction thereon, renovation and modification in existing dwelling units at easy terms across all its branches, with extra due diligence to ascertain repaying capacity.

Commenting on the launch, Deo Shankar Tripathi, CEO, Aadhar Housing Finance Limited said, “

We are sure that the launch of this product would add impetus to the ambitious plan of the government’s ‘Housing for all by 2022’ initiative. This would also incentivize the overall growth and development for the EWS, LIG segment under the Affordable housing sector which is a key driver to the Social Inclusion and   economic growth of the country.”