Free personal accident cover upto the amount of loan outstanding during the life of the term loan, property insurance for the extent of the outstanding loan amount under the risk against fire, earthquake and allied perils, and loss of job cover upto six EMIs (equated monthly installments) of loan or a maximum of Rs 25,000, which was lower, were all covered by the securitisation with Cholamandalam General Insurance.

Housing finance has been growing at an average rate of over 30 per cent and there was an estimated requirement of 31 million housing units as on date. Wadhwan said there were opportunities for growth with the government supporting housing finance as a thrust area. There were 189 million lower and middle-income households in India to support rapid growth of the housing finance industry.

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