Since the commencement of the legacy in 1989, Magma has been driven by one single goal, investing in the smallest dream. We understand your dream and aim to be a stepping stone in realizing it, by providing home loans to help you create your very own dream home!
A home loan every minute means a million lives touched every year. Today, we manage assets worth over Rs. 160 billion, yet for us this is just a humble beginning.
Over 60% of the Indian population resides in rural areas. Our goal is to reach the household of every Indian at the grassroot level and turn it into a dream home. Consequently, more than 80% of our 270+ branches are located in semi-urban and rural India. Our 6900+ dedicated Magmaites promise unmatched support and guidance in procuring a home loan. This, along with an experience of over 25 years, has enabled us to serve the large masses that remain impervious to the traditional financial systems.
Not only this, we, at Magma have now taken a new leap. This year, we acquired GE Money housing finance. With this esteemed project at hand, we have now set foot on the housing finance business.
Current FRR for Magma Housing Finance - 18.75%