Breaking News

You are here » Indian-Commodity  :  Top News  :  Yes Bank launches affordable home loans scheme

18-Aug2016

Yes Bank launches affordable home loans scheme

Yes Bank, India's fifth largest private sector bank, has launched Yes Khushi- affordable Home Loans aimed at fulfilling the common man's dream of owning a house. In the first phase, the product will be launched in 32 cities and towns across India covering over 350 plus Yes Bank branches with focus in the peripheral areas of metros and tier 2 cities. In the 1st year, the bank is targeting to cover over 7500 households with an increased customer base of 50,000 plus by 2020. Yes Bank is also empanelled with National Housing Bank (NHB) for dispensation of the housing loan subsidy under the Pradhan Mantri Awas Yojana (PMAY) scheme to eligible customers as per norms.

Housing shortage has always been a major problem over the years. Industry estimates state that there is an overall urban housing shortage of 19 million units, out of which more than 90% of the demand is from the Low income group (LIG) segment and below. One of the other primary reasons apart from unavailability of affordable houses is the unavailability of proper access to financial resources for buying/constructing their houses.

Yes Khushi affordable Home Loans product suite has been designed to address the gap in the market, keeping in mind the unique home loan requirements of Salaried and Self Employed segments of the population in the EWS (Economically Weaker Section) /LIG (Low Income Group) segments. Yes Bank will be catering EWS/LIG segment having formal, semi-formal and informal income documents through various surrogate programs within a strong risk management framework.


Related News

View all news

Turmeric futures trade higher on NCDEX

Turmeric futures traded higher on NCDEX with widening of portfolios by market participants due to improving physical demand for the crop. However, expectation of increase in fresh arrivals at the spot......

Physical Rubber prices witness firmness on Monday

Physical Rubber prices showed firmness on Monday due to ongoing supply crunch in the domestic market and on expectation of a pick-up in demand from tyre manufacturers. Spot prices for RSS-4 variety rose......

Gold futures edge up on MCX

Gold futures edged up on MCX as speculators built up fresh positions on the back of a firming trend in the global markets as the dollar languished near two-week lows on growing expectations that the Fed......

Top News

View all news

Ladam Affordable Housing to enhance limits of Corporate Guarantee given to AU Small Finance Bank

Ladam Affordable Housing has decided to enhance the limits of Corporate Guarantee given to AU Small Finance Bank from Rs 15 crore to Rs 18.5 crore for the purpose of financing the business/ business related......

Govind Poy Oxygen planning to enter into lease agreement

Govind Poy Oxygen is planning to enter into Lease Agreement with Babaso Anandrao Budhale, for lease of land and building for the use of the company and agreement with Nasik Oxygen Company, to give machinery......

RIL's telecom arm terminates agreement with Reliance Communications

Reliance Industries' (RIL) telecom arm -- Reliance Jio Infocomm (Jio) has terminated Master Agreement and Spectrum Trading Agreement executed between the company and Reliance Communications and its affiliates......