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Muthoot FinCorp to offer gold loans at lower rate to women


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
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Beware of fraudulent job consultants

It has been brought to our notice that certain individuals are receiving fraudulent emails, phone calls, and messages, etc, about job vacancies with Muthoot FinCorp and they are also being asked to deposit money in certain bank accounts.

Please be informed that such communications and practices are completely mala fide and sent with an intent to defraud the public and bring disrepute to the goodwill of our Company. Our Company does not ever demand any fee/money against recruitment nor for the application/interview process.

The public at large is hereby cautioned not to be misled by any such communications received through emails, message or any other communication mode.

Please contact us for further information about the genuineness or otherwise of such communications at:

Muthoot FinCorp Ltd.

MG Road, Near Spencer's, Trivandrum - 695 039

Phone: 0471 4911550 / 0471 4911430

Email: [email protected]