How you access micro Home loans and Lap for no income proof segment? Is it easier or difficult compared to higher ticket size loans for formal income segment ?

Question

Accepted Answer

Accessing micro Home loans and Lap for no income proof segment requires alternative methods compared to higher ticket size loans for formal income segment.

Accessing micro Home loans and Lap for no income proof segment may involve assessing the applicant's assets and collateral instead of income proof.
For higher ticket size loans for formal income segment, income proof and credit history are typically the main factors considered.
Lenders may require additional security or higher interest rates for no income proof segment loans to mitigate the risk.
The approval process for no income proof segment loans may be more stringent and time-consuming compared to formal income segment loans.

How you access micro Home loans and Lap for no income proof segment? Is it easier or difficult compared to higher ticket size loans for formal income segment ?

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