Muthoot Finance launches Loan@Home service

Kochi, July 01, 2020: Muthoot Finance, India’s No.1 Most Trusted Financial Services Brand and India’s largest gold loan NBFC has launched Loan@Home service. This service enables customers to avail a gold loan without stepping out of his/her home. Dedicated Loan@Home staff visit the customer’s home at the appointed date and time, carry out required digital checks, verify the customer’s gold ornaments at the customer’s premises, create the loan, generate loan documentation and the loan amount is credited to the customer’s bank account.

The movement restrictions and safety concerns occasioned by the COVID situation is a game-changer for the business ecosystem, especially with regards the last-mile delivery of services to clients. Considering the challenges faced by the customers in these trying times, Muthoot Finance launched the “Loan@Home” service, a fit-for-purpose innovation that helps customers monetize their gold ornaments without stepping out of their homes.

According to Mr. George Alexander Muthoot, Managing Director, Muthoot Finance, “With Loan@Home, we are taking Muthoot Finance to the customer’s home. Now the customer can avail a gold loan from the comfort of his or her home without having to visit the branch at any stage of the procedure.”

He further mentioned “As a leading financial services enterprise, we find that, under such circumstances, a large swathe of our customers (existing and prospective), across India may be finding it difficult to approach our branches to do business due to the restrictions. Such apprehensions are especially apparent among higher net worth customers.”

Loan@Home is principally an app-based digital service. The customer can apply for a Loan@Home through the dedicated Loan@Home Mobile App and Web Portal, or the iMuthoot Mobile App, online.muthootfinance.com or the Muthoot Finance Call Centre.

The entire Loan@Home process flow is optimized for efficiency, reduction of operational risk and utmost safety to the valuables of the customers. A remote supervising team oversees the entire customer-to-branch process using GPS-based tracking software, ensuring seamless service delivery and effective risk management.

As soon as a Loan@Home enquiry is verified and accepted, a real-time customer due diligence takes place through a video-based KYC process. This is followed by an appointment for the visit by our executives. Loan@Home is literally gold loan on tap. All one needs to do is to tap the Loan@Home app link to make a request.

About Muthoot Finance:

Muthoot Finance is the flagship company of The Muthoot Group which has 20 diversified business divisions. With 5000+ branches, the Group serves over 2.5 Lac customers every day. Muthoot Finance is also India's largest gold loan NBFC and India’s No.1 Most Trusted Financial Services Brand, according to the Brand Trusted Report. It is a reputed ‘Systemically Important Non-deposit taking NBFC’. As part of the core business, Muthoot Finance provides loans secured against household gold jewellery at highly affordable rates and amazing product features. Globally, the Group has presence across, USA, UK, UAE, Costa Rica and Sri Lanka. In the recently announced financial results for FY20, Muthoot Finance posted a record Net Profit of Rs. 3,168 Crores (a 50% growth over FY19). The Consolidated Assets Under Management (AUM) grew by 22% for the same period and stood at Rs. 46,800 Crores.