Gold loan NBFC Muthoot Finance today (August 23, 2022) announced the launch of the ‘Milligram Reward Programme’ for its customers. Under this reward programme, all transactions with The Muthoot Group will be rewarded with at least a milligram of gold. The NFBC said in a statement that the two-year long programme aims to strengthen the relationship between customers and bring back inactive customers.

The NBFC further said that for the first time in India a customer reward programme is being run in 24-carat gold. The reward programme will be applicable for 30 plus services offered by the company. 

“All the customers who transact with the company – even availing gold loans and repaying the gold loan interests will be rewarded through the programme. Every customer referral transaction with the company will earn 20 mg of gold as well,” the statement said. 

“Annually Rs 50 crore worth of gold (100 kg) is expected to be paid off through the programme. The ‘Milligram Reward Programme’ will be effective for all transactions from April 01, 2022 onwards,” it added.

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There are multiple criteria attached to different schemes and transactions to win these gold points. Muthoot Finance is hoping that the new reward programme will boost consumer participation and engagement, and help the company.

Commenting on the reward programme, George Alexander Muthoot, MD, Muthoot Finance said, ” This reward system is a small way for us to express our gratitude towards their relentless trust and loyalty over the years. We also hope that this initiative will further inspire a new set of customers to do business with the Muthoot Group.”

Muthoot Finance also offers a chance to their existing customers 20 Milligram Gold points per referral for referring a NEW customer to Muthoot Finance. Any of the existing customers can refer in person and submit a referral form at Muthoot Finance Branch or through its online web portal. The Milligram Gold Points will be then credited to the referrer.

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Redemption

The NBFC said that the redemption of these Gold Coins is subject to certain procedures and terms and conditions.