Edelweiss to launch small housing loans in Tamil Nadu
Edelweiss Housing Finance to introduce housing loans of less than Rs 10 lakh in Madurai.
The firm target the low income group and those constructing their own homes in Chennai suburbs and small towns and in Tamil Nadu.
The target of the plan is to focus on self employed and small and micro entrepreneurs and low income group.
The loan size segment is about Rs 10 -20 lakh. The issues for small housing loans will be the absence of a formal income statement to access the repaying capacity of the borrower.
Edelweiss Housing is present in nine of the largest cities including four metros and soon it will be nine cities.Within March, Edelweiss Housings loan portfolio will be 1,800 crore against Rs 1,200 crore at present.
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