HDFC Bank expands gold loan offering in Maharashtra, adds 26 new desks to its branches

  • HDFC Bank stated that it is working towards making all its branches in Maharashtra capable of processing Gold Loans by end of the current financial year. This facility will allow people to make the most of their idle gold with minimal documentation and transparency in charges.

Livemint
First Published3 Jun 2022
Gold Loans will be available for tenures starting from 3 months up to 36 months.
Gold Loans will be available for tenures starting from 3 months up to 36 months.(Pradeep Gaur/Mint)

Private sector lender, HDFC Bank on Friday added 26 Gold Loan desks to its branch network in Maharashtra. With the latest addition, now the lender offers gold loans from its 212 branches out of 711 bank branches in the state.

In a statement, HDFC Bank stated that it is working towards making all its branches in Maharashtra capable of processing Gold Loans by end of the current financial year. This facility will allow people to make the most of their idle gold with minimal documentation and transparency in charges.

Gold Loans will be available for tenures starting from 3 months up to 36 months.

Abhishek Deshmukh, Branch Banking Head – Maharashtra, HDFC Bank said, “ Maharashtra is one of the fastest-growing and developing states in India. Gold Loan allows people to get funds fast with minimal documentation. These branches will facilitate an effective way to raise funds for both short-term as well as long-term needs. This will help people across the state."

Vikas Pandey, Executive Vice President, Gold Loan, and Auto Loan, HDFC Bank said, "Gold Loans have immensely helped people across the semi-urban and rural areas of the country to address their urgent financial needs. This offering has substituted the unorganised sector and brought in transparency to the entire process. The demand for Gold Loans has been growing in the past two years with the pandemic serving as a catalyst."

HDFC Bank offers flexible tenure and repayment options to ensure customers’ monthly outgoings are within their budget.

Gold Loan applicants include a varied segment ranging from both salaried as well as self-employed categories. People exploring quick loans for a short duration with minimal documentation will benefit from this facility.

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