12 April, New Delhi: Vastu Housing Finance Corporation Ltd. (Vastu) is proud to announce the opening of its new all-women branch in Azadnagar, New Delhi. The branch will be managed entirely by women staff and will operate under Vastu’s new loan product category – Micro Housing. This initiative is focused on empowering women from low-income groups and economically weaker sections (EWS) of the society to own a home.
The Micro Housing product category offers loans under Rs. 5 lakh and is designed specifically for women customers who want to build or develop small houses within a specific investment range. The branch will offer a range of attractive services to women applicants, such as easy application process, incentivized rates, lower processing fees, special schemes, EMI holidays, rebates, waivers, and quick disbursements to make the loan process easier. Additionally, women customers will also be able to access exclusive and attractive insurance products, covering life, health, and home, from Vastu’s insurance partners.
To encourage women to invest in their dream of home ownership and thereby create a more inclusive and supportive environment for women to achieve their homeownership goals, the branch will offer a longer repayment schedule based on eligibility criteria such as age, earnings, etc as per its credit policy. The branch will also feature special hours exclusively for women customers to address their queries faster.
“Financial literacy and financial independence of women will bring multi-generational positive impact in families, thereby contributing to the growth of the nation. The all-women branch of Vastu with enhanced focus on adding women borrowers will be a showcase of empowering women and unlocking the potential in a vast untapped section of our society,” said Ms. Renuka Ramnath, Non-Executive Chairperson, Vastu Housing Finance and Founder, MD & CEO of Multiples Alternate Asset Management.
“Our concept of an all-women branch came from our understanding of customer needs and sentiments, especially for salaried and self-employed women customers. 99% of our loan applications involve female applicants. The initiative aligns with our commitment to empower women from low-income groups to own and build a home as an investment for a safe and secure future,” said Mr. Sandeep Menon, Founder, MD and CEO, Vastu Housing Finance.
Vastu Housing Finance believes in providing equal opportunities for women in all spheres of life, and this women-only branch is a testament to Vastu’s commitment to gender equality and empowerment.