This might be a write-up that most probably makes you reflect and gets you inspired.
Even those with sufficient income are hesitating to buy a house and take loans. However, this visually impaired couple, the sole breadwinner of their family with a RM900 monthly income have successfully repaid off their loan in the given time frame. How is this possible, you might ask?
This brilliant 79-year-old man has proved that being visually impaired is no hindrance in clearing off the debt and owning his dream home.
Speaking to Varnam Malaysia, Lechamanan Sunnasamy who used to work as a telephone operator back in 1993 shared how he managed to settle up his loan with the RM230 monthly repayment with a low salary (RM900/per month).
The father of two went on to further explain, saying how he saves most of his income. He was very conservative and modest with his money. He will ensure that he saves his money each month. With that, he managed to save up to RM15k.
The drive that kept Lechamanan’s meticulous financial management.
When asked why he keeps his budgeting skills, he responded that his late mother would often tell him, “You must always have your own house.”
That spurred him to work toward his dream of buying a home, and that is when he began to save money.
A home in Shah Alam, part of “Projek Perumahan Rakyat” was priced around RM30k during that time. Despite certain allocations from the government, he still needed a sum of money to pay the rest.
He saved up RM15k, but it wasn’t enough to cover the cost, so he sought for a loan.
He worked absurdly hard to apply for loans but was turned down because of his low income. He was also labelled a very high-risk paymaster since he had no history of repaying loans and was a disabled person.
One day, the fortunate time came.
A colleague took him to MBSB Bank in PJ and they granted him a loan with a repayment amount of RM230 for 7 years.
In 1996, he stepped into his dream house.
In a conversation with his son, Lingesh Lechamanan, claimed that his father paid it all up on time and that he clearly remembers accompanying his father to the bank to complete the final transaction settlement.
“He was very happy and extremely proud that day.” Lingesh expressed that he did not understand the magnitude of that occasion, nor could he appreciate this blind man’s amazing feat.
“But today, I am in absolute awe of what he has achieved. How could he have saved that cash, with such little earnings?” Lingesh expressed on his social media.
“Owning a house in Greater Kuala Lumpur is no easy feat and we are very thankful to MBSB Bank Berhad for making our dream of owning a family home come true,” he said.
Also, his father gave him advice on the value of owning a home, as well as thanks to his father that he was able to purchase a home three years after graduation.
At the time, the monthly payment was approximately half of my wage. My father advised me, “Go and make a commitment; after that, you’ll figure out how to pay it.”
It was a significant burden for me at the time, but now that I have the house, I see that it was a wise investment and a catalyst for my development.
Recently on a post posted by MSSB bank about their new campaigns and events, Lingesh went on to comment saying how MSSB has played a vital role in his father’s life.
The bank got in touch with him after reading the comments and expressed their gratitude and desire to thank his father with a gift. They sent his father a thank-you note and some corporate presents.
Lechamanan is an example that nothing is impossible with the right amount of discipline and determination. I’m hoping that a lot of people will be inspired by this story.
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