DBS Bank India’s gold loan book has crossed ₹6,300 crore, and the lender is looking to more than double the portfolio over the next five years on the back of value-added features offered by the bank.
DBS Gold Loans are designed to meet individual goals but are flexible enough to be tailored for evolving business requirements like managing working capital needs or purchasing equipment and machinery, it said in a release.
They offer unique benefits such as personalised customer service, speedy loan disbursal within 30 minutes, higher loan amounts per gram of gold and a global safety standard. It has also introduced a balance transfer feature, which allows customers to transfer outstanding loan balances from other financial institutions to DBS Bank and save on interest rates and processing fees.
DBS Bank India gives gold loans ranging from ₹25,001 to ₹50 lakh per customer to salaried professionals, self-employed individuals, and small business owners. In FY23, the gold loan book had grown by 26 per cent.
The bank has a network of 530 branches across over 350 locations, offers superior customer experience, and is seeing heightened demand from the agrarian community, primarily in South India, the release said.
“We are witnessing exciting trends in the gold loan sector in India and have evolved our offering to cater to a wider audience that could be younger, more urban or more digitally savvy and rightly expects more from their lender,” said Sajish Pillai, MD & Head - Assets and Strategic Alliances, Consumer Banking Group, DBS Bank India.
“With a compelling product proposition and rising demand in the market, we are well-positioned to grow this offering significantly in the next few years,” he added.