ICICI disburses Rs 6,700cr to 1st-time low-cost home buyers

PTI
Tuesday, 23 January 2018

Anup Bagchi, executive director at ICICI Bank said, the bank has been focusing on affordable housing segment to realise their dream of owning a home. We are delighted to share that we have disbursed more than Rs 6,700 crore of 'Pratham' loans to over 51,000 customers.

Mumbai: The largest private sector lender ICICI Bank has said its affordable housing loan exposure to first-time buyers has crossed Rs 6,700 crore during the past four years.

Christened 'Pratham' loans, the bank has enabled over 51,000 first-time home-buyers from the economically weaker section and low income groups in the last four years. The ticket size of these loans are up to Rs 30 lakh, the bank said today.

Anup Bagchi, executive director at ICICI Bank said, the bank has been focusing on affordable housing segment to realise their dream of owning a home. We are delighted to share that we have disbursed more than Rs 6,700 crore of 'Pratham' loans to over 51,000 customers.

"To make our home loans widely available quickly to this segment we have expanded our distribution by opening over 100 new loan processing centers in small towns and as micro- markets on the periphery of major cities," he said.

ICICI Bank has the largest mortgage portfolio among private sector banks with over Rs 1 trillion in advances.

ZiffyHomes secures Rs 2 cr seed funding 
ZiffyHomes, a Gurgaon-based home rental marketplace, has raised seed funding of Rs 2 crore from individual angel investors.

The round was led by Bikky Khosla, angel investor and CEO at TradeIndia.com and Anirudh Agarwal, managing director at Shree Sharda Group.

The duo will also join ZiffyHomes as board members to mentor the team for fast growth, a statement said today. 

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