Tata Capital Housing Finance launches home loan scheme for affordable housing

MUMBAI: Tata Capital Housing Finance Limited (TCHFL), the wholly owned subsidiary of Tata Capital , on Monday announced the launch of ‘Prapti’ – a Home Loan Scheme to cater to the low income segment in the affordable housing space. ‘ By providing home loans at subsidized interest rates from 4%, TCHFL will help individuals to realize their dream of buying their own home.,’ said the statement.

Tata Capital’s ‘Prapti’ Home Loans scheme is a step towards the Government of India’s ‘Pradhan Mantri Awas Yojana’ for providing affordable houses to the urban poor by the year 2022. The Scheme specifically caters to segments like the lower income group (LIG), economically weaker section (EWS) of society, Scheduled Caste (SC), Scheduled Tribe (ST) and women residing in the peripheries of Metros, Tier I cities as well as those living in Tier II and Tier III cities. The scheme is applicable for households with an income of up to Rs.6 lakh per annum.

R. Vaithianathan, Managing Director, Tata Capital Housing Finance said, “ The ‘Prapti’ Home Loan scheme, with low interest rates and flexible loan repayment options will equip a larger base of the lower income segment to realize their dream of purchasing their own home. Our pan-India wide presence will help cater to the relevant customer segment in Tier II and Tier III cities across the country.”