Muthoot Finance offers loan of up to Rs 10 lakh to salaried class in Delhi, NCR

Under this, Muthoot Finance will give unsecured loans of Rs 1-10 lakh at an interest rate of 13.5-23 per cent to salaried class only, the company said at an event here.

Published: 21st May 2019 06:13 PM  |   Last Updated: 21st May 2019 06:13 PM   |  A+A-

Muthoot

Customers will be evaluated based on the credit history, KYC checks & CIBIL score. (File Photo)

By PTI

NEW DELHI: Muthoot Finance Tuesday said it has expanded its personal loan scheme for customers in Delhi and NCR in which it will offer up to Rs 10 lakh to the salaried class.

Under this, Muthoot Finance will give unsecured loans of Rs 1-10 lakh at an interest rate of 13.5-23 per cent to salaried class only, the company said at an event here.

Muthoot Finance will target customers in the age group of 24-58 years and working in private, state and central government jobs to avail personal loans for 1-5 years.

Customers will be evaluated based on the credit history, KYC checks & CIBIL score. The scheme aids the working class with fast and affordable sanctioning of loans without any collateral and flexible repayment options.

"This is a unique offer, which will benefit the salaried class as the loan can be availed with minimum documentation and will be disbursed within 48 hours. The company expects to grow its customer base in all categories by end of March 2021," said George Muthoot Alexander.

He said the loan will be available to customers in Delhi and NCR and going forward the scheme will be expanded across rest of north India.

The Kerala-based non-banking finance company (NBFC) has 282 branches in the national capital region. The company's asset under management stood at Rs 38,303 crore at end-March 2019.

The loan will be offered to customers having a minimum take-home salary of Rs 20,000 a month.

Muthoot Finance said the company has disbursed loans to 67 crore customers till date and the demand remains strong with a daily walk-in of 2 lakh customers to its branches across India.

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp