In its continuous effort to uplift the trader community, Muthoot FinCorp Limited, the flagship Company of 137-year-old business conglomerate Muthoot Pappachan Group (Muthoot Blue), has introduced a new scheme - Vyapar Vikas Gold Loan. This innovative offering is designed to meet the evolving financial needs of traders, providing them with unparalleled flexibility and value.
Traders can leverage their gold jewellery to obtain maximum loan value, providing them with the necessary funds to support and expand their businesses. The scheme offers ample flexibility of tenor - from 7 days to 12 months, giving traders to decide based one's customised requirements.
The Vyapar Vikas Gold Loan stands out with its easy daily repayment option, in line with the cash flow of traders enabling daily reducing interest rate where in traders have to pay the interest only for the number of days and amount used. The loan scheme combined with an attractive interest rate makes an appealing choice for traders seeking financial flexibility, as there are no prepayment charges and offers flexibility in credit history (CIBIL criteria). The loan interest is calculated on a diminishing balance basis, ensuring that borrowers only pay interest on the outstanding amount, further reducing the financial burden.
Mr. Shaji Varghese, CEO of Muthoot FinCorp said, "We are excited to introduce the Vyapar Vikas Gold Loan, a product designed to cater to the specific needs of traders, especially those running micro and small businesses. At Muthoot FinCorp, we recognize the dynamic nature of trade and the crucial role of cash flow management. This scheme provides traders with the flexibility, convenience, and financial support they need to grow their businesses. With features like easy daily repayment options, no prepayment charges, interest is levied only for the outstanding and for the days availed, attractive interest rates, and digital repayment facilities, we are committed to empowering traders across India to achieve their business goals."
Vyapar Vikas Gold Loan facilitates digital repayments through the Muthoot FinCorp One mobile app, eliminating the need for traders to visit branches for repayment. Moreover, the 24X7 express top-up facility through SMS or the app ensures that traders can access additional funds whenever required, without the hassle of branch visits. This round-the-clock feature underscores Muthoot FinCorp's commitment to offering seamless and efficient financial services.
Muthoot FinCorp's Vyapar Vikas Gold Loan is a testament to the company's dedication to financial inclusion and support for the trading community.
About Muthoot FinCorp
Muthoot FinCorp Limited, the flagship company of 137-year-old business conglomerate Muthoot Pappachan Group, is India's leading Non-Banking Financial Company (NBFC) with an aim to transform the lives of common man by ensuring their financial wellbeing through an array of varied products and services. With over 3700 branches across the country, we aspire to serve the underbanked, to be their most trusted financial partner, and ensure financial inclusion of every household in India. Muthoot Fincorp's long-standing experience, expertise and stronghold in the semi urban and rural areas has enabled the company to provide quick & customized finance options to the masses.
About Muthoot Pappachan Group
Founded in 1887, Muthoot Pappachan Group (MPG) is a significant entity in the Indian business landscape with nationwide presence and tailor-made products and services for its customers. The group which planted its roots in retail trading, later diversified into various sectors including Financial Services, Hospitality, Automotive, Realty, IT Services, Healthcare, Precious Metals, Global Services and Alternate Energy. Currently MPG has over 40,000 employees, serving customers through its over 5200 branches across the country. Muthoot Pappachan Foundation, the CSR arm of the group facilitates the CSR activities for the entire group companies focusing on Health, Education, Environment and Livelihood (HEEL).
