Muthoot Finance launches new loan scheme for SMEs

Muthoot Finance, the flagship company of the Muthoot Group has launched a new loan scheme targeted at the small and medium enterprises.
As per the scheme, Muthoot Finance would disburse gold loans above Rs 10 lakh at an interest rate of 12 per cent compared to the industry level of 14-15 per cent, a company statement said.
"This is a unique offer, which will benefit all sections of clientele. The company expects to grow customer base in high loan category to 10 per cent from four per cent by June 2018", company Chief General Manager K R Bijimon said.
He said the loan would be available at the company's 4,200 branches.

The company serves more than two lakh customers per day and the assets under management as of September 30, 2017 was Rs 4,804 crore in Tamil Nadu.