Tag Archives: YES-Khushi Home Loan exclusively for EWS/LIG

YES-Khushi Home Loan exclusively for EWS/LIG segments by YES Bank

(May 20th 2017) YES Bank has launched an inspiring Home loan product, YES Khushi – Affordable Home Loan in compliance with Housing for All Scheme.YES-Khushi home loan has been tailor made to cater to the needs of the common man in the EWS / LIG segment under the Pradhan Mantri Awas Yojna.

500 builders across 35 cities and towns across India in partnership with YES Khushi Home Loan have committed to fulfill the dreams of millions of having a house. Being a part of National Housing Bank (NHB), Yes Bank is responsible for allocation of the housing loan subsidy under the Pradhan Mantri Awas Yojana Housing for all-2022 scheme to help every citizen avail this subsidy scheme.

A team of more than 300 skilled professionals along with more than 150 third party channel partners will support sourcing and servicing of customers and will also ensure quick and timely disbursal of the loan.

Rana Kapoor, MD & CEO, YES Bank, said, “Affordable housing is a critical sector to enable India’s socio-economic development and YES Khushi Affordable Housing Loans cater to the specific needs of the EWS/LIG segments. As a participant of the Pradhan Mantri Awas Yojana (PMAY), we aim to work with the government and the National Housing Bank to make rapid strides towards the vision of Housing for all by 2022, outlined by the PM Narendra Modi.”

The main aim of the bank is to provide low cost housing loan to every citizen.

  1. Loan amount up to 28 lakhs will be offered in location with a population of lakhs or above.

  2. Loans up to 20 lakhs can be availed in locations having population below 10 lakhs.

The key features of YES-Khushi Affordable Home Loan are as follows:

  • Minimum loan amount Rs 1 lakh can be availed by those LIG/EWS who wish to construct their own houses and don’t need a huge sum.

  • Loans will be offered for purchase of ready/ resale/ under construction/ plot plus construction, self-construction on owned plots, repairs and renovations

  • Balance transfers from other banks are also available.

  • Loan can be repaid up to a maximum of 25 years.

  • Loans can be availed by individuals with family income starting from Rs 9,000 pm.

  • Loan will be offered to formal, semi-formal and informal customers who are both salaried and self-employed.