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Oct 21 2015

MANAPPURAM Launches Online Gold Loans (First in India)

Company Head Office, Thrissur

Manappuram Finance Ltd. launched its “online gold loans” facility at a Customer Meet function held at the company’s head office in Valapad.

Mr. V.P. Nandakumar, MD & CEO, speaks about Manappuram’s new online Gold Loan facility at its launch.

A customer is required to make an initial visit to a Manappuram Finance branch for appraisal of his gold ornaments and handover of custody against a receipt bearing full particulars of the pledged ornaments. Manappuram Finance will arrange for its secure storage in its vaults, similar to the locker facility offered by Banks. Customers will additionally get insurance cover for the full value of the ornaments.  A credit limit of up to 75 per cent of the market value of the pledged gold ornaments will be sanctioned as Online Gold loan. This amount can be withdrawn by the customer from anywhere in the world 24 x7 using a smart phone, computer, or other internet enabled devices. Speaking on the occasion, Mr. V.P. Nandakumar, MD & CEO of Manappuram Finance Ltd., said that with technology redefining every aspect of life, Manappuram is determined to retain its position in the vanguard of technology and innovation in gold loans. 
He announced that Manappuram is planning to follow up online gold loans with the launch of its pre-sanctioned Gold loan Cards, similar to debit cards, which can be used to withdraw money from ATM machines. 

Mrs. Meera Haridas (Head – Marketing) introduced the online gold loan product to customers who had gathered at the company’s Valapad Head Office as part of a customer meet.Senior executives who spoke on the occasion were Mr. B.N. Raveendra Babu (Executive Director) and Senior Vice Presidents Dr. Sumitha Nandan Jayasankar and Mr. Sooraj Nandan