This new convenience comes as a breather to working professionals and businesses alike
India, May 19th, 2022: In addition to the usual weekdays, indiagold has recently introduced doorstep gold loans on weekends. This simple initiative is a significant step towards bringing an otherwise lagging asset-backed lending market to the internet era convenience that modern customers have come to expect. Customers don’t need to wait for ‘working days’ to get access to credit anymore: it’s now available seven days a week.
indiagold has a seamless, three-step process for gold loan application and processing. The potential borrower can download the App, visit the website indiagold.co, or give a missed call on 1800-123-999-888 to book an appointment with a loan manager, free of charge, from the comfort of their home. The manager then visits the borrower’s house, apprises them of the suitable schemes, and completes all formalities digitally within 30 minutes. After this, the gold is collected with 100% insurance and safety assurance by the team, and the loan is processed with immediate effect.
Speaking on his vision for the novel initiative, Nitin Misra, Co-Founder, indiagold, said, “At indiagold, we’re building what we believe is the future of asset-backed lending in India: on-demand, flexible, transparent, accessible, private, affordable, and automated. This new initiative of making secured credit accessible even on Sundays aligns with our vision of building India’s most loved and advanced asset-backed lending platform. Today we are in 12 cities, & aim to extend this to 25 cities by the end of this fiscal.”
Around 250 million households in India account for approximately 20,000 tonnes of gold, and 10 million of them opted for gold loans in 2021. There’s no doubt that this sector has tremendous history, size as well as potential. Despite this, customers unfortunately still have to physically visit gold loan branches with their precious gold to avail credit – subjecting them to inconvenience and risk. Furthermore, they can avail credit only from Monday to Saturday, forcing them to adjust their professional and personal schedules to accommodate the same.
indiagold was launched to plug these gaps, in doing so providing doorstep convenience, security, privacy, and seamless processing by digitizing end-to-end borrowing – including on weekends. As testimony to its potential, the digital lender witnessed a 10x growth in AUM & 21x growth in revenues in FY2022.