Muthoot Fincorp Ltd (MFL), India’s leading Non-Banking Financial Corporation (NBFC) and a subsidiary of Muthoot Pappachan Group (MPG), has revamped its entire gold loan portfolio. The revamped portfolio comprises five Gold Loans with numerous variants in terms of Interest Rates, Loan-To-Value (LTV), Holidays and Tenure give the common man the power and freedom to choose.
The new powerful portfolio of Gold Loans is loaded with unique features like SMS based transactions for better engagement and revamped EMI scheme with better interest rates. The main motive behind the revamp is synonymous with the company’s vision to ensure ‘financial assistance at the doorstep of every common man’.
“Muthoot Pappachan Group is committed to empower the common man and build products and solutions to cater to their lifecycle needs. The revamped gold loan portfolio is better aligned to the needs and demands of the customers of today and is a testament to our commitment to constantly be aligned to our customer’s needs. With the new portfolio of offerings, we expect significant growth in the next few years,” said Thomas John Muthoot, Chairman and Managing Director, Muthoot Pappachan Group.
“Gold loan has evolved and is not seen just as an emergency loan anymore. Now it is as easy as a liquid asset, leveraged to plan life better, fulfill the wants at each stage of one’s life, look after the future needs of one’s kids and so on,” said Vasudevan Ramaswami Chief Operating Officer,Muthoot Fincorp Ltd.
“The new variants are competitive and will help our branches to present multiple options to the customers belonging to various segments. With this new offering, we have also taken significant steps to bring our customers under the ambit of technology. We have devised specific rebates and discounts based on their credit behaviour and also encourage our customers to use forms of digital repayment. We are confident that customers will find the new products even more attractive and useful,” he added.