More Applicants for HDFC Bank Home Loan under HDFC PMAY

HDFC Bank has gradually witnessed an hike in HDFC Bank Home Loan under Pradhan Mantri Awas Yojana or PMAY. HDFC Bank offers HDFC Bank Home Loan to EWS (Economically weaker section) and LIG / MIG (Low and Middle Income Group) Categories under HDFC PMAY.

Nearly, 38% of the HDFC Bank Home Loans have been approved under PMAY in volume terms.

Similarly, about 19% of the HDFC Bank Home Loan has been sanctioned in Value Terms under HDFC PMAY. HDFC Bank has been sanctioning about 8,200 HDFC Bank Home Loans to EWS and LIG Categories under HDFC PMAY on monthly basis.

In the F.Y. 2017-18, HDFC Bank witnessed a surge in HDFC Bank Home Loans to EWS and LIG Categories by 32% and 41% respectively.

The Average ticket size for HDFC Bank Home Loan to EWS (Economically Weaker Section) Category stands at Rs. 10.2 lakh whereas the same for LIG (Low Income Group) Category stands at Rs. 17.4 lakh.

Reasons for more applicants for HDFC Bank Home Loan under HDFC PMAY

The Increase in borrowers for HDFC Bank Home Loan under Pradhan Mantri Awas Yojana or PMAY is due to the following reasons-

Rapid Urbanisation.

Favourable Demographics.

Under-Penetrated Housing Market.

Higher Disposable Income.

Stability in Property Prices.

Attractive Rate of Interest.

HDFC Pradhan Mantri Awas Yojana (PMAY)

HDFC Bank offers HDFC Bank Home Loans to EWS and LIG/MIG Categories at affordable rate of interest and longer tenure under PMAY. Eligible Customers can now avail HDFC Bank Home Loans under PMAY for purchase/construction/extension/improvement of house at easy rate of interest and longer repayment period.