×
Register Now for Loan From Home!

News

Muthoot FinCorp to offer gold loans at lower rate to women

7-Mar-2014

Muthoot FinCorp to offer gold loans at lower rate to women

MUMBAI: Gold lender Muthoot FinCorp NSE 0.35 % today said it will be offering a two percentage point discount to women borrowers for loans under Rs 50,000 for a limited period in view of International Womens’ Day tomorrow.

Women will be able to borrow at 12 per cent for loans up to a tenor of 1 year under Rs 50,000, it said in a statement.

A company spokesperson added that it otherwise charges a rate of 14 per cent for loans under Rs 50,000, which can go up to 22 per cent for loans above Rs 3 lakh.

The current scheme is available only till March 15 across the company’s 3,829 branches, the statement said.

Women will get a loan to value ratio of up to 71 per cent, the company added.

Under the gold loan scheme, a borrower keeps gold as a security for raising money from a financier. The gold is given back to the customer after repayment or sold if the borrower faulters on repayment.
 
Originally Posted on: The economic times logo
whatsapp
Hi there! How can we help you? Tap here to chat with us.
ankara escort çankaya escort çankaya escort escort bayan çankaya istanbul rus escort eryaman escort ankara escort kızılay escort istanbul escort ankara escort ankara escort escort ankara istanbul rus Escort atasehir Escort beylikduzu Escort Ankara Escort malatya Escort kuşadası Escort gaziantep Escort izmir Escort