look news india
If your income is very low then there is no need to worry. You can fulfill your dream of buying your house. Yes Bank is offering home loans even to people with initial monthly income of Rs 9000. According to the information available on the bank's website, any employed or self-employed person can take this loan. The bank has named this special home loan as Yes Khushi Affordable Housing Loan. This loan can be repaid for 35 years. The bank charges 10.5% to 12.5% interest on this loan. The rate of interest will depend on the credit score of the person.
Yes Khushi Affordable Home Loan Features
- To take this loan, at least some paperwork will have to be completed.
- The bank gives the facility to repay this loan for 35 years.
- The loan amount starts from Rs 1 lakh.
- This loan can be taken to purchase under construction, ready to move or resale property.
Facility to transfer loan also
According to the bank's website, you can buy ready property, under construction, resale, construct a house on a plot, repair, renovate etc. You can also transfer your existing home loan. This loan repayment period is 35 years for salaried and 30 years for self-employed, provided the age of the borrower at loan maturity does not exceed 60 years and 70 years respectively.