Grihashakti, a National Housing Bank registered housing finance company in India and a wholly owned subsidiary of Fullerton India Credit Company Limited, on Monday announced the launch a home loan product specially designed for women – ‘Grihalakshmi’. The product encourages salaried and entrepreneurial women in urban and semi-urban India to help build a home for their family and create asset ownership on the basis of their income.
The rate of interest on these loans is priced from 9.50 per cent onwards for a housing loan and 11.50 per cent onwards for non-housing loans. The loan ticket size for Grihalakshmi will range from Rs 5 lakh to Rs 5 crore.
Ravindra Rao, chief executive officer, Grihashakti said, “At Grihashakti, we strongly believe that women need to be encouraged to buy homes and take loans in their name. Owning one’s own home gives a great sense of financial security. We see women actively participating in taking key family decisions of buying homes and therefore this product would help them fulfill their dreams”
Launched in early 2016, Fullerton India Home Finance Company Limited (which is a wholly-owned subsidiary of Fullerton India Credit Company Limited), provides retail and affordable home finance solutions across 41 branches spread across 9 states.
Grihashakti is headquartered in Mumbai and operates through a network of 41 branches spread across 9 states – Gujarat, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan, Tamil Nadu, Andhra Pradesh, Telangana and West Bengal.
Fullerton India is one of India’s leading Non-Banking Finance Companies (NBFC) with total revenue for the fiscal year ending March 2016 at Rs.2, 277 crores. As on 31 Dec 2016, the AUM of the company stood at Rs. 12, 183 crores, serving 16.47 lakh customers through a widespread network of 528 branches spread across 22 states and 3 union territories, reaching out to 600 towns and over 51,000 villages in the country.