Financing Homes For Bharat BASIC Home Loan began with the intent of empowering low and middle-income households through product innovation and digitized home loans

By Entrepreneur Staff

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

BASIC Home Loan

With about 70 percent Indians living in rural areas, housing is a fundamental need in our country. However, the traditional loan application process is a tedious one and banks remain focused on big ticket loans. Realizing the under fulfillment of loan requirements in tier 2 and 3 cities, BASIC Home Loan began with the intent of empowering low and middle-income households through product innovation and digitized home loans. Founded in 2020, BASIC Home Loan is India's first automated platform for home loans with special emphasis on the affordable housing segment.

Using a phygital approach, their network of home loan agents utilize proprietary technology to handhold customers right from choosing a banking partner, to the disbursement of loan. Says Kalyan Josyula,Founder & Head of Technology, BASIC Home Loan, "Our vision is to offer a simplified process of purchasing a home. Being a cloud-first company we are able to scale our operations quickly and efficiently. Our omnichannel CRM solution, Product Eligibility Matrix (PEM) and automated backend for agents help in reducing operational costs of home loans.
Moreover, features like video KYC and a live tracking system for home loan applications brings more transparency for consumers. So far, we have helped more than 80,000 families across India achieve their dream of owning a home."

Staying at the forefront of disruptive innovation, BASIC serves small-ticket customers and has Rs 20-30 lakhs as an average ticket size. Having partnered with over 60 lenders, it has processed more than 15,000 crore applications to date and has sanctioned Rs 5000 crore as of November 2022. BASIC is all set to become the largest mortgage distributor by March 2023.

Entrepreneur Staff

Entrepreneur Staff


Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Related Topics

Starting a Business

4 Hard Truths You Must Accept to Become Successful

As you buckle up for entrepreneurship, remember – it's not just a journey but an epic adventure towards enduring achievement in the dynamic business world.

Side Hustle

Getting Laid Off Allowed Him to Focus on His Sentimental Side Hustle. Now He's on Track to Earn Over $700,000 in 2024.

Alaa El Ghatit wasn't fulfilled at his day job. So he started LifeOnRecord to help people record memories and well wishes.

Social Media

With This LinkedIn Algorithm Change, Your Best Posts Could Reach New Readers for Months

It's one of many new features rolling out on the platform in 2024.

Growing a Business

From 30 to 300 — 5 Ways to Keep Your Vision and Mission Intact as Your Team Grows

The keys to scaling your business successfully are culture, connection, and knowing everyone's name.

News and Trends

Vijay Shekhar Sharma Steps Down from Paytm Payments Bank Board

Ashok Kumar Garg, Debendranath Sarangi, Rajni Sekhri Sibal and Srinivasan Sridhar are the new board members of Paytm Payments Bank.

Business Ideas

55 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.