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Reverse Mortgage Loan |
IDBI introduces Reverse Mortgage Loan for senior citizens.
Senior Citizens are an imperial component of the Indian society. There is significant increase in cost of good health care facilities along with little social security. Senior Citizens require a regular cash flow stream for supplementing pension/other income and addressing their financial needs.
Reverse Mortgage seeks to monetize the house as an asset and specifically the owner’s equity in the house. The scheme involves the Senior Citizen borrower(s) mortgaging the house property to IDBI, in return of periodic payments to the borrower(s) during the latter´s lifetime to help them in sustaining themselves.
The IDBI Advantage
Maximum Funding
Services at doorstep
Simple documentation
Personalised services
Free legal and technical assistance
Attractive rate of interest
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