Friday, June 17, 2016

Customer Story: factory worker, Gujarat

For the past 2 years, this customer has been working at a pump manufacturing company as a daily wage laborer. He earns Rs. 500 per day for his 12 hour shift (8:30 am - 8:30 pm). His brother works as a security guard while his mother works at a local milk company, where her job is to keep a track of the milk vans that are dispatched on a daily basis.

As a family, they are coming together to contribute to a loan from MHFC so that they can move into a Rs. 7.8 lakh 1 BHK flat in Ahmedabad.

Friday, June 10, 2016

Customer Story: seed / grain seller, Ahmedabad

Meet Mr. Barot - an MHFC customer who recently took a Rs. 4 lakh home loan to buy a flat in an affordable housing project.
Mr. Barot sells grains / seeds at a large open ground in Ahmedabad so that the general public can feed pigeons. He sells a variety of grains including jowar, bajra, moong, chana, corn etc. Out of the numerous unique occupation types we see in our home loan applications, Mr. Barot's work is definitely a first.
His wife has been working as a maid in two households for the past 8 years. Together, they earn a monthly income of Rs. 37,000 - they even had enough savings to put a down payment of Rs. 2 lakh on the new flat! (Yes! a 1RK flat in this affordable housing project costed the Barot's Rs. 6 lakh!)
Moving into an affordable housing project means that Mr. Barot will no longer be paying any rent - and after fulfilling his EMI payments on the loan, he will finally be a homeowner. You can almost hear the pigeons of Ahmedabad cooing in glee!

Wednesday, June 8, 2016

Customer Story: tailor, Gujarat

Paying a rent of Rs. 5500, this customer lives with his wife, three children and brother-in-law. As a tailor, he stitches laces on sarees, while his wife - also a tailor - does embroidery work on sarees & dresses.
Together they earn a monthly income of Rs. 20,000-25,000 per month, sufficient enough for them to pay an EMI on a Rs. 6.6 lakh home loan. Soon, this customer will be moving into an affordable housing project in Surat, Gujarat.

Friday, June 3, 2016

MHFC Reaches 10,000 Customers!

We have some exciting news to share today! We recently sanctioned a Rs. 7 lakh home loan to one of our customers in Surat, Gujarat - who happened to be customer number 10,000! Our loan officer in Surat - Jignesh - can be seen in the picture handing over a box of mithai to the customer.
Like all our customers, Ms. Manju Devi's story is unique in its own way. Her husband was a tempo driver, but after he passed away 6 months ago, Manju took over the mantle of bread earner of the family and started working as a cook.
As a mother of 4, Manju realised that her current rented accommodation was insufficient to secure a future for her children. She booked a flat in an affordable housing project in Surat, which she will pay for with the help of an MHFC loan. Additionally, she is also eligible to receive a subsidy under the Pradhan Mantri Awas Yojana's Credit Linked Subsidy Scheme, a benefit that will help her financially.
We look forward to helping more customers achieve their dream of home ownership as we expand to new states & different products. Thank you for sharing this journey with us & stay tuned for more!

Friday, May 27, 2016

CLSS - a unique opportunity for home ownership

The Pradhan Mantri Awas Yojna's Credit Linked Subsidy Scheme will provide this customer with a Rs. 2.2 lakh subsidy on his Rs. 6 lakh home loan!
For the past 15 years, this customer has been delivering tiffins to various offices in the textile market in Surat. As a family of 5 living in a very cramped space, this customer had decided that it was about time he bought a home in an affordable housing project.
Schemes like CLSS provide a unique opportunity to first time home buyers - if you know any families in the informal sector who are in need of their own home & require a loan, now would be a great time for you to reach out to them about the benefits of this scheme. Reach out to your friends, employees, maids, drivers, local food vendors, kirana store owners etc. are refer them to MHFC. 
So far, we have helped over 700 families significantly reduce their loan amounts with us through this scheme & we are just getting started. Send us a mail at if you have any questions. We look forward to helping who you send our way!