Home Loan For Below Rs. 10,000 Income

Looking For a Loan?

I have read the Privacy Policy & Agree to Terms & Conditions and authorize Dialabank & its partner institutions to Call or SMS me with reference to my application.

Why Apply with Dialabank?

Compare across 18 Banks
Get Money in 30 Mins
Loan Amount Up to 5 Crore
Hassle-free Disbursal
Unbiased Experts Advice

Home Loan

Home Loan

Earning Rs. 10,000? You can still avail a home loans. Axis Bank, a private sector lender on its 20th anniversary on Wednesday launched a home loan product for people earning an as low salary as Rs. 8000. With this product the bank is targeting disbursals of up to Rs 1,000 crores annually”, says a senior bank official.

To reduce the risk, such borrowers have to pay a premium to the bank. For low earners, the rate of interest would be 10.75% that is higher than what is being offered to people earning above Rs. 25,000.

Jairam Sridharan, Axis Bank head for customer lending & payments told “Most of the organized financial institutions in India at present are targeting people earning over Rs. 25,000. The market needs to serve the group under this segment forced the bank to generate such product.”

Against 60 lakh people above Rupees 25,000 income, there are beyond 2.5 crore households covered in Rs. 10,000 – Rs. 25,000 salary segments, which has no place to go for a home loan. This situation made the bank to launch 150 affordable housing projects in the previous year alone.

Read Other Related Articles

Housing Finance Home Loan – Things to Check
A small guide to save your personal finance from Housing Loan EMI’s Home Loans – Floating vs Fixed
Tips to Save Money and repayment on Home Loan.
Home Loans Expenses
Menu