Press Release

Yes Bank Brings ‘Khushi’ In The Lives Of Thousands Across India Through Yes Khushi - Press Release

  • Product Suite designed to address loan requirements of Salaried and Self Employed in the EWS/LIG Segments
  • Primary focus on low cost housing, loans up to 28 Lacs

Bengaluru, May 04, 2017: YES BANK, India’s fifth largest private sector bank, brings ‘khushi’ in the lives of thousands in the affordable housing space, through their product YES KHUSHI – Affordable Home Loans, in the first year of operation. This product has been designed to cater to the housing needs of the common man in the EWS / LIG segment, fulfilling probably their biggest dream – that of owning a house. YES BANK is one of the few banks in the industry which has a dedicated team focused on Affordable Housing loans.

YES KHUSHI Home Loans has partnered with more than 500 builders across 35 cities and towns across India. YES BANK is also empanelled with the National Housing Bank (NHB) for dispensation of the housing loan subsidy under the Pradhan Mantri Awas Yojana (PMAY) scheme to help customers avail this subsidy scheme. A sizeable portion of the customer base has received the subsidy in the first eight months of operation. A team of more than 300 skilled professionals along with more than 150 third party channel partners are responsible for sourcing and servicing of customers, ensuring timely service delivery. Since the product specially caters to the EWS/LIG segment, a dedicated team of underwriters has been set up in-house to process loans only for this segment. The customer mix ranges from drivers, house helps, kiranawala, peons to courier boys, security guards, the hitherto overlooked segment of the society in the lending space.

Housing shortage has always been a major problem over the years. Industry estimates state that there is an overall urban housing shortage of ~19 million units, out of which more than 90% of the demand is from the Low income group (LIG) segment and below. One of the other primary reasons apart from unavailability of affordable houses, is the unavailability of proper access to financial resources for buying/constructing houses for the LIG segment. Therefore, with the Union Budget, 2017 according an ‘Infrastructure status’ to affordable housing, the resulting government incentives, tax reliefs, and institutional funding for home developers would help address the issues in the sector.

The YES KHUSHI Affordable Home Loans product suite has been designed to address the gap in the market, keeping in mind the unique home loan requirements of Salaried and Self Employed segments of the population in the EWS (Economically Weaker Section) /LIG (Low Income Group) segments. YES BANK is catering to the EWS/LIG segment having formal, semi-formal and informal income documents through various surrogate programs within a strong risk management framework.

Speaking about the product, Mr. Rana Kapoor, MD & CEO, YES BANK said, “Affordable Housing is a critical sector to enable India’s socio-economic development and YES KHUSHI Affordable Housing loans caters to the specific needs of the EWS/LIG segments. As a participant of the Pradhan Mantri Awas Yojana (PMAY), we aim to work with the Government and the National Housing Bank to make rapid strides towards the vision of Housing for all by 2022, outlined by the Hon’ble PM, Shri Narendra Modi.”

The primary focus of the bank is in the low cost housing i.e loans up to Rs. 28 lacs in locations with population of 10 lacs and above and loans up to Rs. 20 lacs in locations having population below 10 lacs.

YES KHUSHI Affordable Home Loan product aims at fulfilling lower income segment housing dream but at the same time it is closely knitted with robust risk management tools to mitigate the credit risk specific to the Lower Income Group segment.

Some of the key features of YES-KHUSHI Affordable Home Loans are:

  • Loans start with Rs 1 lac to meet the housing requirement of those LIG/EWS who wish to construct their own houses and don’t need huge sum.
  • Loans shall be available for purchase of ready/resale/under construction/plot plus construction, self-construction on owned plots, repairs and renovations and also balance transfers from other institutions.
  • The loan can be extended up to 25 years.
  • No minimum individual income norms, loans extended to individuals with family income starting from Rs 9,000 p.m.

Catering to formal, semi-formal and informal customers both salaried and self-employed.


YES BANK, India’s fourth largest private sector bank is a high quality, customer centric and service driven Bank. Since inception in 2004, YES BANK has grown into a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers. YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank. Headquartered in Mumbai, it has a pan-India presence across all 28 states and 9 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.

For more information, please visit the Bank’s website at

For media queries, please contact:

Swati Singh

Darshana Vyas

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