A recent press report said that Jewellery chain Goldplus from Tata Group has launched a new scheme named ‘Swarna Samridhi’ for Andhra Pradesh market in alliance with Muthoot Finance.
Reports said that the tie-up will help customers in rural areas to get an opportunity to purchase and invest in gold jewellery of their choice from Goldplus, without having to sell their old jewellery and Muthoot will extend finance to jewellery buyers.
As per the scheme the customers will have to pay only 20% of actual price on purhcase of ornaments and the remaining amount can paid through monthly installments to Muthoot Finance Limited. Mr. R Venkateswaran, Zonal Manager (AP Zone), Muthoot Finance Limited, on launching the scheme said that the customers would be given a 30-day interest free period to repay the loan amount.
He also said that Muthoot will offer loans for remaining amount at 11.5% interest with repayment period up to 2 years.
Mr. A. Palani Kumar Goldplus General Manager said that the scheme has received good response from customers in Tamil Nadu and now it has been rolled out in Andhra Pradesh. He also said that the plan would be extended to Karnataka also.