Bharti Airtel, the second-largest telecom operator in the country, has partnered up with Muthoot Finance to offer gold loans to customers. Bharti Airtel owned banking subsidiary; Airtel Payments Bank, has started offering easy access to credit to its customers. Users of Airtel Payments Bank will be able to apply for a gold loan from Muthoot Finance within a minute on the Airtel Thanks app.
Airtel and Muthoot Finance Will Not Charge Any Processing Fee
The gold loans provided by Airtel in partnership with Muthoot Finance will be completely hassle-free for users as there will be zero processing charges. Muthoot Finance will offer users as high as 75% of the pledged gold value as a loan. In a release, the telco said that customers would get door-step disbursals for loan amounts of Rs 50,000 and above.
Any user of the Airtel Payments Bank will be able to apply for a loan if they own gold. This gives customers an option to obtain or access liquid cash/credit without needing to break existing investments. Especially in the case of a short-term requirement, breaking a long-term investment can be a painful feeling.
Till the time the loan amount is paid off, the bank will ensure that the gold is kept safe. There will be flexible payment options for users, which will allow them to make part payments or complete payments before the maturity date without any additional charges.
There are over 5,00,000 neighbourhood banking points for Airtel Payments Bank through which the customers can apply for a gold loan. If the customer wants to, he/she can directly apply for the loan from their Airtel Thanks app on the smartphone.
How to Apply for Gold Loan in Three Simple Steps With Airtel Thanks App
The first step is to log in to the Airtel Thanks app and then go to the banking section.
Second, click/tap on the gold loan icon and enter the required information.
Lastly, give permission to share details with Muthoot Finance.