Stock Report

Muthoot Finance launches Loan@Home service

Posted On : 2020-07-08 16:47:33( TIMEZONE : IST )

Muthoot Finance launches Loan@Home service

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, 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.

Shares of MUTHOOT FINANCE LTD. was last trading in BSE at Rs.1085.2 as compared to the previous close of Rs. 1104.3. The total number of shares traded during the day was 60548 in over 3990 trades.

The stock hit an intraday high of Rs. 1114.2 and intraday low of 1081.1. The net turnover during the day was Rs. 66590748.

Source : Equity Bulls