Hyderabad: Muthoot Finance Ltd, the flagship of The Muthoot Group, on Thursday launched new gold loan scheme targeted at small and medium enterprises (SMEs). Under this, the Kochi-based company will offer gold loans of Rs 10 lakh and more at an interest rate of 12 per cent per annum to SMEs for their working capital requirements.
P Sainath, Regional Manager-Secunderabad, Babu John Malayil, Deputy General Manager, Ch Vinod Krishnakumar, Regional Manager-Cyberabad, Muthoot Finance, addressing the media in Hyderabad on Thursday
The gold loan company offers gold loans at 16 per cent interest rate, but it has reduced the rate to the high-ticket loans to attract more customers. In Telugu states, the company’s current assets under management (AUM) stand at Rs 4,146 crore with Andhra Pradesh accounting for Rs 2,257 crore while Telangana, Rs 1,889 crore. It has nine regional offices and employees over 3,200 people.