Shriram Finance Limited has launched the 'Jitne Samay ka Loan Utne ka hi Byaj' initiative in Tamil Nadu 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 Tamil Nadu to convert them into Gold Loan branches. Currently, 275 out of the 737 branches in Tamil Nadu offer Gold Loans. As of Q1 FY25, the total AUM for the state of Tamil Nadu is Rs. 37,476.29 Crore out of which Rs. 1,425.50 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 Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, and Maharashtra.