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BASIC Home Loan: Making Disbursal Process Faster & Stress-Free

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BASIC Home Loan, a Gurugram-based fintech startup has been developing a platform for automating home loans for middle and low-income households in India.

The company motto is ” To change the way Bharat (India) finances its affordable homes.”


BASIC Home Loan is a fintech startup, developing an automated platform for home loan lending in India. It was founded in 2020 by Atul Monga, Kalyan Josyula and Pranav Khattar. The trio carries experience of building ventures in the fin-tech space, and they have worked with companies such as Policybazaar, Ola, Lazada, Credit Suisse, HDFC Life, and in the past.

BASIC has raised a $500,000 Seed round from Picus Capital, a Germany-based early-stage technology investment firm. The company aims to provide consumers with end-to-end fulfilment, through technology for faster loan disbursements. 

According to the Reserve Bank of India (RBI) estimates, the current size of the Home loans market is about $ 250 billion and is growing by 20 percent year on year. The government’s vision is to provide ‘housing for all by the year 2022’. This translates into an additional 20 million homes for LIG and EWS families to be built by 2022. 

The Indian lending market has huge automation opportunities and BASIC Home Loan, a lending aggregator believes there is a big opportunity to tap this underserved segment leveraging technology. Basic Home Loan has a very unique proposition to solve a very basic problem that consumers face i.e. quick formal finance access for affordable home purchases in India. 

The company’s vision is to digitize the home loans process and increase affordable loans penetration for mid-and low-income households in India. It aims to use the ‘Phygital’ approach in creating a network of agents who utilize its technology in handholding consumers, from ‘research’ to ‘final disbursement’ of home loans.

The Basic Home Loan focuses on affordable housing loans, which is currently the government’s priority under PMAY and “Housing for All” schemes. 

Meet The Founder

Atul Monga is the founder of BASIC Home Loans. He is an ex-Policy bazaar business head and has worked as investment banker for Credit Suisse. He has been an entrepreneur at Three Fin-techs and an IIT Delhi Graduate. In the past, he has helped raise money for Rubique Technologies, a venture in the fin-tech space, Dogspot India’s largest online forum for dogs, cats, and small pets, and Disha Solar – a solar power supply provider.

Before starting his business, Atul has played a  driving role in assisting  companies with strategic partnerships, managing their operations, and conducting numerous financial transactions with international companies. This includes IPO, M&A, and other equities and credit products.

Atul Monga is the founder of BASIC Home Loans

BASIC Goal: Housing For All

BASIC Home Loan is trying to eliminate problems related to automation and tracking by introducing  cutting edge technological innovations. The Gurugram-headquartered startup wants to help India’s low- and middle-income people buy a home in the most convenient, fast and stress-free way. 

Combining technology and home-loan agents, BASIC Home Loan has created a network of ambassadors to handhold and walkthrough customers with end-to-end service, from the initial discovery to final delight of disbursal. 


BASIC Home Loan is one of the leading fintech startups that provides home loans at the best interest rate, faster loan approval, and live application tracking.

[] Tech-enabled shortlisting of the most suitable lender.

[] No Follow-ups required, live to track your application status.

[] There are no hidden charges, free services for any big or small home loan.

[] Services Available in Metros, Tier 1 & 2 Cities.

In To The Future

BASIC Home Loan has processed about 800 crores of applications where they have disbursed close to 250 crores of loans till date. They are razor-focused on profitability and are currently profitable on an operational basis.

For BASIC, the social impact of what they are trying to achieve — housing for all — is a big motivation, as it intends to help low and middle income India with a dignified home of their own. Currently, around 25% of their loans are disbursed with PMAY applications and 22% of disbursements are towards new constructions

They are targeting about Rs 1250 to 1500 crores of loan disbursals by 2022. Out of these loans they intend to disburse about Rs  300 cr loans for PMAY applicants.

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