There are two sizable blockades that many potential home buyers believe they face. One roadblock is without doubt amassing the down payment. The second is mostly psychological- the dread that they may not be eligible for a housing loan. Muthoot Finance Home Loan is in the market with a bang by offering fantastic prospects that individuals may not be aware of to bring down his dire need for money and loan sanction.
A subsidiary of Muthoot Fincorp Ltd, Muthoot Housing Finance Company Ltd (MHFL) is registered with the National Housing Bank and gratifies monetary needs of clients with low and middle income. This is a huge relief for workers from the unorganized sector, most of whom fail to shell out the margin money or meet the eligibility criteria (in terms of income) of most banks.
The HDP Loan work just like a personal loan but is unique in the sense that it is strictly designed to meet expenses that you need to make towards your home. This loan covers down payment towards a plot too
If you are a tenant yearning to become a property owner or a foreclosure or short-sale victim, you might have pondered a lot about home loan schemes offered by different banks and financiers. Purchasing a home is no mean feat. A horde of expenditures outside your drawn budget are waiting to swallow you whole if you are not careful enough.
Purpose of expenses vary from one to another and hence Muthoot finance home loans are designed to meet the following financial aids:
All of these involve substantial monetary outlay from your part. Here is where Muthoot’s ‘Home Down Payment Loan’ act as a savior and enable you to bear out the aforementioned requirements.
Not everybody can build a large house, keeping in mind the requirements for the next 20 years. Your individual taste, needs, and financial situation are unpredictable and uncertain. Sometimes the construction guidelines laid down by the authorities can be a tad restrictive. As new people take charge these guidelines are usually changed or revised, offering you a scope for extending or modifying your home/ property.
Like anything manmade, houses too cannot escape from natural wear and tear for too long. Or you might feel like modernizing the interiors, furnishings, the wall paints and may be add an extra room or two. Sometimes you may even plan a major refurbishment of the entire house structure. The ‘HDP’ Loan can facilitate you to do all these in one go.
Cashing on its expertise in the two-wheeler loan market, Kerala based Muthoot Capital Services is contemplating on foraying further into the Auto Loan segment by offering Car Loans. The management senses an opportunity in this area of retail loans, specially in the used car financing.
On the expansion front, the subsidiary company of Muthoot Pappachan Group has plans to set up base in north India and West Bengal in 2016. Owing to a massive rise in disbursements, the company has seen a rise of 19 percent in net income at the end of Q1. The total revenue at the end of quarter in June was Rs. 64.3 crore. The total disbursals amounted to Rs. 256.22 crore consisting of 48,582 loans. At the end of Q1, the group had a strong base of 3,51,811 customers.
4th August 2016