YES BANK announced that it has partnered with Aadhar Housing Finance Ltd to offer home loans at competitive interest rates.
Aadhar Housing Finance is one of India’s largest affordable housing finance companies. With this partnership, both entities aim to provide, convenient home finance solutions such as Home Loan for Salaried Employees, Loan for Plot Purchase and Construction, Home Improvement Loan, Loan Against Residential Commercial Property, Balance Transfer and Top Up, among others, to customers from lower and middle-income groups.
This partnership is in accordance with the co-lending framework of the Reserve Bank of India (RBI) that enables banks and non-banking companies to jointly bring forth financial solutions that cater to the requirements of the unserved and underserved sections of the society.
Speaking on the partnership, Mr. Lavesh Sardana, Country Head - Retail Assets, YES BANK said, “Home loan penetration in India is relatively lower as compared to the most developed economies of the world. This offers an opportunity for lenders to bridge this gap with their product offerings. We are happy to partner with Aadhar Housing Finance, to bring forth a slew of affordable home finance solutions that will largely benefit individuals from lower-and middle-income groups by helping them fulfill their dream of building their own home. Given our vast network of banking relationships, we aim to cater to the financial requirements of customers across a wide socio-economic spectrum, in line with the Government’s vision of encouraging inclusive growth within the country.”
Speaking on the occasion, Mr. Rishi Anand, CEO and MD, Aadhar Housing Finance said, “YES BANK’s wide reach and trust in the market, coupled by our own network and digital, state-of-the-art IT infrastructure, improved control, underwriting functions, and increasing customer reach and distribution capability, will help provide efficient and economical home loan solutions to a wide gamut of customers across geographies, socio-economic groups and yield spectrum, to enable optimum growth.”
About YES BANK
YES BANK is a full service commercial bank providing a complete range of products, services and technology driven digital offerings, catering to Retail, MSME as well as corporate clients. YES BANK operates its Investment banking, Merchant banking and Brokerage businesses through YES SECURITIES, a wholly owned subsidiary of the Bank. Headquartered in Mumbai, it has a pan-India presence including an IBU at GIFT City, and a Representative Office in Abu Dhabi.
For more information, please visit the Bank's website at http://www.yesbank.in/
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About Aadhar Housing Finance Limited
Aadhar Housing Finance Limited (AHFL), established in 1990 is a low-income housing focused Housing Finance company, which was merged with erstwhile AHFL in the year 2017 as per NCLT order, has created a niche in the housing finance needs of the economically weaker sections (EWS) and the lower income segment population of the country. AHFL is one of the largest low-income segment focused Housing Finance Company with AUM of Rs. 16,566 crores as on 31st December 2022, with a geographical reach across 20 states and union territories and a network of 424 branches and offices.