Muthoot Fincorp revamps gold loan portfolio

Reported by: |Updated: September 19, 2018

Muthoot Fincorp said it is revamping its gold loan portfolio. The NBFC, which is the flagship company of the diversified Muthoot Pappachan Group, the revamped portfolio now has 5 gold loan options and several variants in terms of interest rates, LTV, holidays and tenure to give the common man the power and freedom to choose as per his or her needs and as per financial situation. Some of the features in the new scheme include SMS-based transactions for better engagement and revamped EMI scheme with better interest rates. The primary objective of the revamp, the company, said, is synonymous with its vision to provide ‘financial support at the door step of every common man’. Thomas John Muthoot, chairman and MD, Muthoot Pappachan Group, said the revamped gold loan portfolio is better aligned to the needs and demands of the customers of today and is a testament to the company’s commitment to constantly be aligned to the customer’s needs. Vasudevan Ramaswami, COO, Muthoot Fincorp, said the new variants are competitive and will help the company’s branches to present multiple options to the customers belonging to various segments. With this new offering, the company has also taken significant steps to bring its customers under the ambit of technology, he added.