Manappuram Gold Loans

Manappuram Finance Limited is one of India’s leading NBFCs dominant in gold loans, i.e. providing finance against used household gold ornaments. The company was incorporated in 1992 and has been growing consistently over the years. Manappuram Finance offers its gold loans through a vast network of 3,300 + branches across 24 states and 4 UTs. The business constitutes about two-thirds of the company’s total assets under management (AUM) which stood at INR 194.3 billion as on March 31, 2019.

Why Gold Loan 

India possess one of the largest privately held gold reserves, estimated variously at about 20 to 25,000 tonnes and valued at more than US$1 Trillion. Almost every Indian household invests in gold jewellery and has an emotional connect with their gold jewellery which often has the status of family heirloom. While the gold loan business has generally flourished in Southern India, it has barely scratched the surface in the North and East of India. And that is the opportunity to capture. 

How are we doing it

Manappuram Finance Limited has developed an extensive branch network across the country. While we have better branch network in south considering our origins in the region, we have aggressive growth plans for North and East regions of the country. A Manappuram Gold Loan is available to customers through 

  • Our Branches
  • Online
  • Text messages
  • Doorstep of customers

Product Differentiators

Manappuram offers loan up to Rs 1.5 Cr. at a time with minimal processing fee and at rates which vary according to tenure and funds required. Some of the benefits of Manappuram Gold Loans are 

  • Instant Cash
  • Higher loan amounts, depending on purity, net weight of the gold.
  • Multiple schemes; there’s one just right for your needs.
  • Different schemes for different needs, to suit all income groups.

Online Gold Loan

Manappuram Finance Limited introduced Online Gold Loan in 2016. The product was built on the foundation of an overdraft facility offered by banks. The difference being that once gold is placed with the company a customer can take loan, repay interest and adjust pledge as per their convenience.
It solved a lot of problem for poor people. OGL helped remove the transportation and safe keeping risk, it made them aware of their credit worthiness and saved costs on time and travel. Some of the features of this facility are

  • Available 24X7. 
  • Repay interest or opt for re-pledge from your home or office or even when travelling
  • Fully secured with 100% free insurance coverage for your ornaments.
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SMS Gold Loan (SGL)

Once the gold is safe locked with Manappuram branch, loan against gold is also available through SMS. This facility is available all branches, including Tier 3 and Tier 4 cities of India, making life truly easy for the poor and unbanked. People who don’t have the smartphone. All that a customer must do is send an SMS message from registered mobile number. And the loan amount gets transferred to their registered bank account.

Doorstep Gold Loan

Manappuram also offers door step loan service to customers in select cities. Currently under Pilot in Chennai and Bengaluru, this service is helping us generate additional queries and add new customers at a quick pace. Under the program, the gold appraisal is done at the customers residence and disbursement of loans is dome immediately through NEFT or IMPS to their bank account.

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