Yes Bank recently launched a home loan product meeting conditions of affordable housing which will help in fulfilling dreams of economic weaker section of owning a home.
Yes Khushi Home loan can be availed for purchase of ready property, under-construction, resale, plot plus construction, repair, renovation, extension, top up loans etc.
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.
The Yes Khushi affordable home loans product has been designed to address the unique home loan requirements of salaried and self employed segments of the population in the economically weaker section and low income group segments.
Here are 5 must know things if you are planning to avail:
The maximum tenure under Khushi Home Lloans is 25 years for salaried and self-employed customers, subject to age of the borrower not exceeding 60 years and 65 years respectively at loan maturity.
2) Balance transfer
Individuals can transfer their present home loans from other Banks & FIs to Yes Bank at attractive rate of interest. Yes Bank also undertakes takeover of loans based on the repayment track record of the customer with simple documentation.
3) Top up loan
When an individuals will transfer home loan to Yes Bank, they can also extend a top up loan for personal needs.
4) Loan amount
Loans start with Rs 1 lakh to meet the housing requirement of those low income and economic weaker sections who wish to construct their own houses and don't need huge sum.
5) Maximum loan amount
The maximum loan to be disbursed will be Rs 50 laks with property value not exceeding Rs 65 lakhs in Metros and upto Rs 40 lakhs with property value not exceeding Rs 50 lakhs in other cities.