Fincare Small Finance Bank Ltd Thirumangalam Madurai

LOAN AGAINST GOLD The Bank launched Loan against Gold product in FY18 with the objective to widen the need-based product suite and enhance the secured mix of the overall loan portfolio, while leveraging the distribution network and technology framework of the Bank. The product is aimed at meeting the short-term liquidity needs of microenterprises, small businessmen, traders, and the self-employed individuals. The product is based on an EMI model combined with doorstep collections. Further, in order to reduce turnaround time, the Bank has implemented paperless origination through a Tab using Aadhar based e-KYC. Product Features ? No step-up interest ? Repayment of principal and interest at the end of tenure ? Competitive interest rates ? Maximum permissible loan to value ? Safety and Insurance for gold As on March 31, 2019, the offering was available at 171 banking outlets across the country.