One gram gold loans to ‘help out’

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Muthoot Fincorp Limited focuses on providing a host of financial services through a wide network of over 1200 branches pan India. It has a diverse mix of retail offerings in the areas of Consumer loan products and investment advisory services.

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One gram gold loans to ‘help out’

  1. 1. Gold loans to ‘help out’ the poor www.muthoot.com
  2. 2. <ul><li>Despite the giddy escalation in prices, Kerala’s gold rush is finding fresh converts in rural areas too. </li></ul>
  3. 3. <ul><li>That’s exactly what Muthoot Fincorp (Muthoot Pappachan group) discovered when it offered women a micro-finance loan called Mahila Mithram along with an existing Swarna Varsham gold scheme. </li></ul>
  4. 4. <ul><li>The women are given Rs 10,000-15,000 as loan, coupled with a one gram gold loan. The money is given at the beginning of the period, and the one gram 24K gold given at the end. </li></ul>
  5. 5. <ul><li>The only guarantee is the group guarantee. </li></ul>
  6. 6. <ul><li>Says Thomas Muthoot, director of Muthoot Fincorp, “The people from the lower income group have aspirations to buy gold but they cannot, given today’s prices. </li></ul>
  7. 7. <ul><li>So we designed a loan which is an investment.” In the last year-and-a-half, as many as 1,76,000 members have availed of this loan in the four southern states. </li></ul>
  8. 8. <ul><li>Kerala alone has 91,805 members. Viju Vinu from Panaikulam near Aluva beams when she shows off her one gram gold. </li></ul>
  9. 9. <ul><li>“After I paid off my loan, I still have the gold.” </li></ul>
  10. 10. Contact US <ul><li>www.muthoot.com </li></ul><ul><li>www.muthootfincorp.com </li></ul>

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