Muthoot Finance has launched a new loan scheme targeted at Small and Medium Enterprises (SME) for their working capital requirements. Gold loans above Rs 10 lakh would be provided at an interest rate of 12 per cent per annum. The loan would be available through all 4,200 branches, including 487 in Karnataka.
The new gold loan scheme is a unique offer, which will benefit all sections of clientele. The company is expecting to grow its customer base in this high ticket loan category from the current 4 per cent to 10 per cent by June 2018.
Muthoot Finance is a non-banking financial company (NBFC), which is engaged in providing loan (financing) against collateral of gold jewelry. The company offers gold loans, foreign inward money transfer services, foreign exchange services, insurance broking etc.
