Muthoottu Mini Financiers has announced the launch of Safe Lock Gold Loan facility. It allows customers to avail the benefits of a locker by pledging any quantity of gold for a minimum loan amount of ₹100.
The Safe Lock Gold Loan facility has been introduced to ensure that customers receive the additional benefit of affordable and convenient choice to secure their physical gold while obtaining a minimum loan amount. The annual charges for utilising the facility is ₹300.
The customer will have insurance coverage for the pledged gold jewellery.
The customers can apply for credit based on their gold kept in the safe lock, which can be obtained at any time through online and offline channels and repaid online or offline as per the customer’s convenience.
Mathew Muthoottu, Managing Director, Muthoottu Mini Financierssaid, “With Safe lock Gold Loan, we intend to empower and safeguard the physical gold of each and every individual with the added benefit of availing a loan amount.”
The facility will be available in select branches of Muthoottu Mini Financiers across all zones for the time being and will be made available in more than 840 branches in Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Haryana, Maharashtra, Gujarat, Delhi, Uttar Pradesh, Goa and Puducherry by mid-November.