Mahindra Rural Housing Finance Limited (MRHFL), a subsidiary of Mahindra and Mahindra Financial Services Limited (MMFSL), has been established to provide Home Loans primarily in rural areas. MMFSL has been operating in Rural India for over 15 years by concentrating on financing farm equipment and vehicles for the under-banked customers. MMFSL identified a market for Home Loans designed specifically for the demographic segment MMFSL caters to. These customers are ineligible to take loans from banks due to lack of proper documentation and income proof. On the other hand, moneylenders that operate in rural areas charge exorbitant interest rates and fees. Thus, there was an opportunity to create a business model between the two and this is how MRHFL was formed. Since inception in April 2007, MRHFL has opened operations in 9 states namely: Maharashtra, Gujarat, Rajasthan, Madhya Pradesh, Tamil Nadu, Andhra Pradesh, Karnataka, Kerala and Bihar.

Mahindra Finance (MMFSL) holds 87.5% of the equity of MRHFL and the National Housing Bank (NHB) holds the remaining 12.5%. NHB, in turn, is a fully owned subsidiary of the Reserve Bank of India (RBI).

The loans given by the company, are secured by the property financed and may be availed of by the customer for construction or purchase of a new property or for repairs, modernization or extension of an existing home.


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