Muthoot Finance offers Gold Loans@12% interest

Muthoot Finance offers Gold Loans@12% interest

Mangalore Today News Network

Mangalore, August 13: “The Muthoot Group is the largest financial group of its kind in India. The group has 18 division and its operations are spread over 21 states in India. It has a turn over of Rs 40,000 crores. With over 1900 branches located in different parts of the country, the group is all set to further expand its pan India presence” said joint Managing Director of Muthoot Group George Jacob Muthoot,  in a press briefing today, August 13.

 

Muthoot finance Ltd, the flagship company of the group has 142 branches in Karnataka. These branches are administered through 5 regional offices. Under the Mangalore region there are 35 branches. The latest branch in Mangalore region was inaugurated at Malpe on 3rd August, 2010. Through the branch network, it is giving employment to local people. As of today in Karnataka the group is giving the employment to 1000 people. The volume of Gold Loan disbursed in Karnataka is Rs. 2200 Crores.

Loans@12% Interest (Rs 1.00per month)

In line with the general policy of government of India and the Reserve Bank of India, to reduce the lending rates, we have introduced a new product. We offer Gold loan at 12% per annum or (for hundred rupees only one rupee monthly interest). This is a unique offer, which will benefit all sections of our clientele. This loan will be now available through all our 1845 branches, including the 142 branches in Karnataka.

Money transfer

Muthoot Money transfer is the easiest way to send money home from abroad. In Karnataka alone 3000 money transfers are disbursed every month through out 142 branches abd total volume of these transfer are to the tune of Rs. 6 Crore.

Rail Ticket through our branches

To give value added service to our client and the general public, we have introduce instant rail booking services through our travel portal www.mtravelsmart.com. We have an agreement with the IRCTC, to offer on online reservation through all our 1845 branches. As an accredited IATA agency, we also offer Air tickets, hotel booking and package tours.

Muthoot Securities

We have now 150 dedicated branches assisting our client to trade in shares. With in a short span we have become a significant player in the Equity trading business. Recently we have also introduced commodity trading. All the 150 branches are equipped with the state of the art technology support to provide trading in commodities like pepper, coffee and cardamom etc.

Media: the Mthoot Group has FM station at Chennai. This popular station ‘Chennai live’ 104.9FM has become the talk of the city. It now has a projected listener base of 2, 00,000 people in Chennai. A recent Survey conducted by the reputed Hans Research indicates 71% of SECAB Chennaites listen to Chennai live.

Power Generation is another field in which the group is active in Tamilnadu. We are operating Windmills at Deverkulam, Tirunelveli which generates 1250KV X3=3750 KV power, which is supplied to the National Grid. Through this wind farm we are creating a safe dependable, renewable and environment friendly energy source.

Muthoot Finance LTD(MFIN), the flagship company of the group has a customer base of 35 million with a customer footfall of around 50,000 every day seeking loan against gold jewellery. Through transparent, fully automated system and procedure, the gold loans christened as ‘Gold Power’, MFIN has become the preferred choice of a variety of customers be it farmers, entrepreneurs, traders, businessmen or housewives. With their ‘5minite Gold Power loans’, it has revolutionized the concept of retail gold loan in the country. People from all walks of life have realized that gold can be released from its idle state in the house locker to create more opportunities and fuel economic growth. In its Hospitality Division, the group is operating a 5 star resort at Thekkady named ‘Cardamom County’. It has also a house boat division located at Alleppey wth 10 premier house boats. With 123 years of operations in the rural and urban heartland of India, the group companies are professionally managed entities with core values and transparent business practices. The group has also launched its global arm ‘Muthoot Global’ and has presence in UK, UAE and the USA.

Babu John Malayil, Asst. General Manager, Corporate Communications, Gopala Krishna, Regional Manager, Mangalore were present on the occasion.