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Cash Salaried Plus

Given the soaring housing prices, ensuring a minimum standard of living in your coveted own house has become a significant concern in the present situation. The need for a place to call "Home" is a fundamental requirement for every individual on Earth. Still, many people are deprived of this necessity due to the absence of stable employment and income.

If you are also working and salaried but do not have any formal income documents and find yourself in need of funds to meet your home loan-related financial requirements, worry not! Aavas has crafted a customized solution just for profiles like you.

Cash Salaried Plus is designed to empower individuals like you with the financial support required for the purchase/construction/balance transfer of your house. Regardless of having no formal income documentation, our Cash Salaried Plus product would provide you with the opportunity to own your dream home.

Whether you work in the informal sector or you receive your monthly salary in cash, you can go ahead and easily apply for a Home Loan from Aavas Financiers.

What does "Cash Salaried Plus" means?

In India, a considerable portion of the population falls into the categories of LIG (Low-income group) and EWS (Economically Weaker Sections). Unfortunately, these groups often go unnoticed in terms of target audience customers when it comes to essential aspects like healthcare, education, or basic banking/financial services. There are millions of underbanked individuals who lack verifiable income proof, while they surely earn some revenue, they are unable to provide official documentation to prove their income.

Many such borrowers, capable of repaying loans, are unaware of the eligible financial opportunities available in the market. They still believe that traditional banks, which require extensive documentation, are the only source of financing for property purchases and are unaware that Affordable Housing Companies like Aavas Financiers can assist them in realizing their ambitions and cater to specific segments of society, providing loans without income-proof requirements.

Features of Cash Salaried Plus

  • Easy Processing: Cash Salaried Plus offers financial assistance for purchases, balance transfer of home loans, and construction loans.
  • Location: The proposed property and workplace should be within 25 kilometers* of the nearest Aavas Branch.
  • Loan Amount: You can avail a maximum loan amount of Rs. 15 Lakhs*
  • Collateral: The loan requires a residential property as collateral.

Benefits of Cash Salaried Plus

  • Flexibility in utilizing the loan amount for the purchase, purchase and construction, balance transfer of home loans, etc.*
  • Competitive interest rates* based on the category of the property.
  • High loan-to-value ratio, allowing you to secure a significant portion of your property value as a loan.

Documents Required for Cash Salaried Plus

KYC Documents (Identity and Address Proof)

Your PAN Card is mandatory, and any one of these:

  • PAN Card
  • Any of the Officially Valid Documents for KYC (Passport / Voter ID Card / Aadhar Card / Driving License)

For the complete list of acceptable KYC documents, please contact the nearest Aavas branch.

3 Years Residence stability proof
  • Utility Bills, Ration Card, Driving License, etc.
Proof of Business or Income
  • 3 months Salary Slips/6 months Bank Statements/Form-16
  • Salary certificate (cash salaried cases)
Property Documents
  • Self-Occupied Residential Property or commercial property will be kept as a collateral
  • Title Deeds of the Property
  • Proof of No Encumbrances on the property
Other documents
  • Application form with photograph duly signed
  • Processing fee cheque
  • Udhyam Registration for proof of business (where applicable)

Eligibility for Cash Salaried Plus

  • Individuals who meet the specified parameters and requirements.
  • The proposed property and workplace should be within 25 kilometers* from the nearest Aavas Branch.
  • Applicant’s/co-applicant’s residential property to be provided as collateral.
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