Aspire Home Finance Corporation Limited (AHFCL), a subsidiary of Motilal Oswal Financial Services Ltd, targets around Rs 2,000 crore loan disbursement by the end of the current financial year.
“This means we will reach more than 21,000 Indian families by March 2016. We started 18 months back and during this time we have disbursed around Rs 1,300 crore loan,” said Anil Sachidanand, MD & CEO, AHFCL at the launch of Mahila Awas Loan from Aspire (MALA) in Indore.
AHFCL works on the business philosophy of financial inclusion of lower and middle income (LMI) Indian families by providing them an access to long term housing finance.
The company provides home loan from Rs 2 lakh to Rs 25 lakh.
MALA, a home loan division especially for women and run by women, is also designed to offer loans from Rs 2 lakh to 12 lakh to working women from both salaried and self-employed backgrounds from low and middle income group.
The company launched MALA in July 2015 from Mumbai. After Mumbai, it has been launched in Pune, Surat and recently in Indore.
AHFCL plans to provide housing loan assistance to 500 women customers in its first year.
Also, AHFCL plans to open more branches in Maharashtra, Gujarat and Madhya Pradesh in the coming days.