Muthoot Finance Ltd is planning to rapidly expand their offering of gold loan at home service from the current over 100 locations to its more than 5400 branches across India. 

In a statement, the company said that Gold Loan@Home services are now being offered in all locations in South India and most of the major cities in North India. The plans are to further scale this service across all Muthoot Finance 5400+ branches.  

Muthoot Finance had launched Gold Loan at Home service in 2020 during the Covid-19 pandemic to enable their customers looking to avail hassle-free gold loan of Rs. 1 lakh and above from the comfort and privacy of their homes. The service may benefit women borrowers, working class, self-employed and HNI customers to meet their financing requirements without stepping out of their homes.

According to the statement, the average ticket size of loans availed under Gold Loan@Home is Rs. 6.5 lakhs and currently, about 60-65% of these Loan at Home services are being availed by self-employed people to finance their business requirements. 

Benefits of Gold Loan@Home service:

  • Customers can call toll free number ‘1800 102 1212’, to get a trained team of professionals from Muthoot Finance visit them to check the purity of the gold and disburse the loan amount there and then. 
  • Security and Free Insurance: The gold handed over by the customer is secured by way of a free Insurance.
  • Convenience: For future interest payments or top-up loans or to check balances, Muthoot Finance’s Loan@Home Mobile App (available both for iOS and Android devices), provides complete 24×7 control in the customer’s own hands. 
  • Additionally, several payment options are available to remit the interest amount, including platforms like Paytm, Google Pay and PhonePe. 

Talking about the Gold Loan@Home service Alexander George Muthoot, Joint Managing Director, Muthoot Finance said, “Our Gold Loan@Home service is receiving overwhelming response as customers lay tremendous emphasis on ‘Trust’. The company is also working towards re-launching gold-secured cards and wallets and other tailor-made solutions in the near future.”

He further said that Gold loan demand continues to be steady and as the economic activity gradually picks ups.