HDFC Bank opens 26 Gold Loan desks to its network in Maharashtra

According to HDFC Bank, Gold Loans have immensely helped people across the semi urban and rural areas to address their urgent financial needs
HDFC Bank opens 26 Gold Loan desks to its network in Maharashtra
HDFC Bank opens 26 Gold Loan desks to its network in Maharashtra (Representational image: Shutterstock)

Focussing and semi-urban and rural consumers, HDFC Bank has added 26 Gold Loan desks to its branch network in Maharashtra. With this activation, 212 branches out of 711 bank branches in the state will now be able to offer Gold Loan.

The bank is working towards making all its branches in the state 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 three months up to 36 months. 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.

Vikas Pandey, Executive Vice President, Gold Loan and Auto Loan, HDFC Bank inaugurated the branches in the presence of bank officials Abhishek Deshmukh, Branch Banking Head, Maharashtra; and Ravi Santhanam, Chief Marketing Officer, and other senior bank executives.

Highlighting the new offering, Abhishek Deshmukh, Branch Banking Head – Maharashtra, HDFC Bank said, “HDFC Bank is committed to provide the best banking and financial services to its customers. 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.”

“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” said Vikas Pandey, Executive Vice President, Gold Loan and Auto Loan, HDFC Bank.

Read more: HDFC Bank sets up Rural Banking division to go deeper into rural markets is now on Telegram. Click here to join Rural Marketing on Telegram and stay updated with the latest news and updates on rural business and the economy.

The Changing Face of Rural India