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Aspire Home Finance Corporation, a subsidiary of Motilal Oswal Financial Services, has launched a home loan division especially for women and by women.
“Mahila Awas Loan from Aspire (Mala) would provide housing finance assistance and advisory services to low-income women, both salaried and self-employed, for purchase/construction of affordable housing units. Mala is designed to offer loans starting from 2 lakh to 12 lakh to salaried working women in private companies, small-scale industries, nursing and paramedic attendants, housekeeping staff, peons in schools/colleges, maid servants, cooks etc. and self-employed women running their own business, vegetable and fruit vendors, home-based businesses like weaving, agarbatti making, papad making, ready-made garment making, running small time kitchen, tailoring, laundry, tutoring, wedding contractors etc,” the company said in a statement.
Mala’s first branch has been launched in Naigaon, Mumbai Metropolitan Region (MMR). All branches under Mala programme would be exclusively manned by women staff.
Aspire Home Finance plans to open more such branches in Maharashtra, Gujarat and Madhya Pradesh in a phased manner. It is looking to provide housing loan assistance to 1,000 women customers in the current financial year under Mala programme.
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