Muthoot Finance Ltd, India`s largest gold loan company is planning to rapidly expand its offering of Gold Loan@Home from 100+ locations to across 5400+ pan-India branches. The non-bank gold lender launched the service of gold loans at home in 2020 during the pandemic with average ticket size at Rs 6.5 lakh and currently above 60-65 percent of these loans are being availed by self-employed people to finance their business.
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.”
Muthoot adds, “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.”