Muthoot Exim, precious metals division of the Muthoot Pappachan group, has forayed into gold jewellery retail targeted at low-income consumers.

The company has announced the launch of Swarnavarsham Jewellery, a scheme that allows consumers to pay a small percentage of the price upfront and the rest in instalments over 12-24 months. Once the full amount is paid, the jewellery will be given to the buyer.

Keyur Shah, CEO, Muthoot Exim, said that though the company’s offerings are confined to very simple models of ear-rings, rings, chains and bangles, the jewellery would be available at “live pricing”, allowing customers to benefit from the actual gold price as applicable at the time of order booking. The entire product range will be of low-ticket sizes.