2 months ago
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Kotak Mahindra Bank Ltd. (KMBL) has announced the introduction of ‘Smart Choice Gold Loan’ for customers.
“Unlike other credit products which have stringent eligibility criteria, gold loan has a simpler application and disbursal process,” KMBL said in a statement. ”By utilising gold as a collateral, borrowers can enjoy lower interest rates compared to conventional credit, translating to savings during the course of the loan tenure,” the lender said in a statement.
Shripad Jadhav, President, Retail Agriculture and Gold Loans, Kotak Mahindra Bank said, “Gold loans are a versatile financial product and cater to a wide range of consumer needs. Easy accessibility, same day processing, attractive pricing, and the security of gold jewellery contribute to its appeal among aspirational consumers.”
“As a result, an increasing number of individuals are considering gold loans as a cost-effective option comparable to other credit products, indicating a shifting trend in consumer financial behaviour. Kotak ‘Smart Choice’ Gold loans can serve as an easy and reliable financial tool to bridge the gap between aspirations and reality,” he added.
