365Telugu.com online news,September 2, 2024: Shriram Finance Limited has launched the ‘Jitne Samay ka Loan Utne ka hi Byaj’initiative in Andhra Pradesh and Telangana with the aim of making access to funds easy and convenient to customers just before the forthcoming festive season.
Shriram Finance, to support this initiative,will invest in upgrading the infrastructure at its branches across Andhra Pradeshto convert them into Gold Loan branches. Currently, 184out of the 304 branches in Andhra Pradesh offer Gold Loans. As of Q1 FY25, the total AUM for the state of Andhra Pradeshis ₹22,198.21 Crore out of which ₹1,273.26 Crore has been from Gold Loan portfolio.
Shriram Finance, to support this initiative, will invest in upgrading the infrastructure at its branches across Telangana to convert them into Gold Loan branches. Currently, 130out of the 206 branches in Telangana offer Gold Loans. As of Q1 FY25, the total AUM for the state of Telangana is ₹20,155.37 Crore out of which ₹1,678.06 Crore has been from Gold Loan portfolio.
Addressing this new campaign, Ms. Elizabeth Venkataraman, Executive Director – Marketing at Shriram Finance Ltd, commented, “Through our interactions with customers, we have observed an increasing trend of customers using Gold Loans as a regular form of credit for their diverse financial needs, thereby pledging and redeeming gold as required. This feature is essential and will prove highly beneficial, especially with the upcoming festive season.”
Customers applying for Gold Loans will benefit from the ability to pay interest only for the duration of the loan tenure, with a minimum tenure of seven (07) days under the ‘Jitne Samay ka Loan Utne ka hi Byaj’ initiative. These Gold Loans offer a maximum tenure of 12 months at competitive interest rates.
Shriram Finance, to promote the ‘Jitne Samay ka Loan Utne ka hi Byaj’ initiative, has launched a comprehensive multi-lingual advertising campaign covering TV, Digital Channels, and Cinema Halls across Andhra Pradesh, Karnataka, Tamil Nadu, Telangana, and Maharashtra.