Kerala-based Muthoot Finance Ltd today launched its new gold loan scheme called 'Muthoot Advantage Loan'.
This scheme offers the highest per gram rate which is 75 per cent of gold value with an initial rate of interest of 18 per cent per annum, a company press release said here.
Under the scheme, customers can avail the loan instantly without any documentation fee, processing fee or weight deductions with the additional feature of zero appraisal charges and no pre-payment penalty as well.
Customers can easily avail the loan at all the 4,500 branches of the company.
Muthoot Finance Managing Director George Alexander Muthoot said the new scheme had been launched to bring back old customers and also to acquire new customers for the company's business future growth and prospects.