Enters the Affordable Housing and Informal Income Segment to address the housing finance needs of unserved and underserved customer segments
Housing finance provider Bajaj Housing Finance has launched Sambhav Home Loans, designed for first-time homebuyers looking to make their dream of home ownership a reality through affordable housing finance.
The all-new Home Loan product targets customers with monthly income of only Rs. 10,000, with loan amounts as low as Rs. 10 Lakh. The affordable income criterion makes this an accessible option for prospective borrowers across a wide range of income groups.
Both salaried and self-employed applicants from a range of employment types, such as manufacturing, trading, and the informal job sector, among others, are eligible for finance as part of this product. Subsequently, the eligibility, documentation, and application process for Sambhav Home Loans have been kept flexible to accommodate all such employment types.
Apart from minimal eligibility requirements, Sambhav Home Loans offer a host of benefits. Borrowers enjoy attractive interest rates with affordable EMIs and the option to choose a repayment tenor of up to 20 years. Eligible borrowers also benefit from a sizeable loan amount, which makes home ownership more convenient.
