VADODARA: Mid-sized private sector bank - the
Development Credit Bank Limited (
DCB Bank) - is launching a
micro housing loan that will cater to the needs of small businesses, skilled and unskilled workers.
DCB Bank's chief financial officer Bharat Sampat told this to media persons on Saturday here after the inauguration of the bank's newest branch at Vasad in Anand district in Gujarat.
"Through the micro housing loan, our bank will focus on customers in the informal employed segment such as traders, small hoteliers, restaurant and food stall owners and self employed service providers such as barbers and electricians amongst others. The loan amount ranges from as low as Rs one lakh to a maximum of Rs 15 lakh," said Sampat.
"Presently, people in this segment don't get housing loans from banks or they have to rely on lending from non-bank financial companies because of the want of income proof," head of DCB Bank's agri and inclusive banking Narendranath Mishra said, adding that the bank has also pioneered the small ticket recurring deposits, no frill accounts and micro-insurances for farmers and private individuals.
"We have steadily built the agri and inclusive banking portfolio of products and services. The Vasad branch is a part of our cluster banking approach to reach out to more customers and bring customer friendly products at their doorstep," said Sampat.
