United Bank of India has rolled out a housing loan scheme for slum dwellers for facilitating construction or upgradation of dwelling units for the urban poor. The loan will be provided at 4 per cent under the differential rate of interest scheme.
Banking industry sources say this is the first time such a scheme has been launched by a bank in the country. United Bank has a target of disbursing Rs 100-150 crore covering 1,50,000 to 200,000 beneficiaries by 2012. The initiative is in tandem with two social security schemes, Basic Services to Urban Poor (BSUP) and Integrated Housing and Slum Development Programme(IHSDP), under the Jawaharlal Nehru National Urban Renewal Mission launched by the Centre in 2005.
Banking industry sources say this is the first time such a scheme has been launched by a bank in the country. United Bank has a target of disbursing Rs 100-150 crore covering 1,50,000 to 200,000 beneficiaries by 2012. The initiative is in tandem with two social security schemes, Basic Services to Urban Poor (BSUP) and Integrated Housing and Slum Development Programme(IHSDP), under the Jawaharlal Nehru National Urban Renewal Mission launched by the Centre in 2005.
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