Kochi, May 04, 2022: Muthoot Finance Ltd, India`s largest gold loan company plans to rapidly expand their offering of Gold Loan@Home from 100+ locations to across 5400+ pan-India branches. From being present in 100+ locations last year, Gold Loan@Home services are now being offered in all locations in South India and most of the major cities in North India. The plans are to further scale this service across all Muthoot Finance 5400+ branches.
The service called Muthoot Finance Gold Loan@Home or Loan at Home was launched in 2020 during the pandemic to enable their customers who were looking to avail hassle-free gold loan of Rs. 1 lakh & above from the comfort and privacy of their homes. Muthoot Finance had launched this fit-for-purpose innovation that would help the women borrowers, working class, self-employed and HNI customers to meet their financing requirements without stepping out of their homes.
The average ticket size of loans availed under Gold Loan@Home is Rs. 6.5 lakhs and currently, about 60-65% of these Loan@Home services are being availed by self-employed people to finance their business requirements.
Unlike other Direct Selling Agents (DSA) Service Providers present in the industry, Muthoot Finance Loan@Home has an unparalleled track record and a family business legacy of 800 years. The company is a category leader in the Gold Loan space amongst NBFCs serving more than 2.5 Lakh customers each day and with over 72 Crore customers in total including repeat customers.
Customers can avail the following benefits when availing of Gold Loan@Home service:
Speaking about Gold Loan@Home service Mr. Alexander George Muthoot – Joint Managing Director, Muthoot Finance said, “Our Gold Loan@Home service is receiving overwhelming response as customers lay tremendous emphasis on ‘Trust’ - a value synonymous to Muthoot Finance, more especially while availing loans against household jewellery which is an emotional asset for people. Customer preferences are changing and customers, including the working class and HNIs want to avail a gold loan from the comfort, safety and privacy of their homes. From its modest beginnings during the 2020 lockdown this service is offered in 100+ locations across South and North India. Looking at the changing customer trends, we are excited to scale up this service across all our 5400+ branches and expansion plans will also lead to further hiring of trained professionals. The company is also working towards re-launching gold-secured cards and wallets and other tailor-made solutions in the near future. Gold loan demand continues to be steady and as the economic activity gradually picks ups, we remain optimistic about tapping the huge untapped opportunity in gold loan sector.”
He further added, “as a leader in this space, we continue to focus on creating a strong digital ecosystem through newer digital disbursement options and new-age repayment options including a robust mobile application, Muthoot Chatbot and Muthoot WhatsApp Business etc. The trust that Muthoot Finance has earned over a long period of time by making a difference to the lives of common men and women is immense. Therefore, with these smart, modern and technology enabled services, our focus continues to create a strong Muthoot Ecosystem of products, services and compelling offerings that places customers at the center of everything.”
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