Bank loan

HDFC Bank opens 26 gold lending offices to its network in Maharashtra

HDFC Bank opens 26 gold lending offices to its network in Maharashtra (Representative image: Shutterstock)

Focusing on semi-urban and rural consumers, HDFC Bank has added 26 gold lending offices to its branch network in Maharashtra. With this activation, 212 branches out of 711 bank branches in the state will now be able to offer Gold Loan.

The bank is working to make all of its branches in the state capable of processing gold loans by the end of the current fiscal year. This facility will allow people to get the most out of their idle gold with minimal documentation and fee transparency. The gold loans will be available for terms ranging from three months to 36 months. HDFC Bank offers flexible term and repayment options to ensure customers’ monthly expenses stay within their budget.

Gold loan seekers include a diverse segment ranging from salaried and self-employed categories. People exploring quick loans for a short duration with minimal documentation will benefit from this facility.

Vikas Pandey, Executive Vice President, Gold Loan and Auto Loan, HDFC Bank inaugurated the branches in the presence of Bank Officials Abhishek Deshmukh, Branch Banking Head, Maharashtra; and Ravi Santhanam, chief marketing officer, and other senior bank executives.

Highlighting the new offer, Abhishek Deshmukh, Bank Branch Manager – Maharashtra, HDFC Bank said, “HDFC Bank is committed to providing the best banking and financial services to its customers. Maharashtra is one of the fastest growing and developing states in India. Gold Loan allows people to get funds quickly with minimal documentation. These branches will facilitate an efficient way to raise funds for both short and long term needs. This will help people across the state.

“The gold loans have greatly helped people in semi-urban and rural areas of the country to meet their urgent financial needs. This offer replaced the unorganized sector and brought transparency to the whole process. Demand for gold loans has increased over the past two years, with the pandemic serving as a catalyst,” said Vikas Pandey, Executive Vice President, Gold Lending and Auto Lending, HDFC Bank.

Read more: HDFC Bank establishes Rural Banking Division to penetrate deeper into rural markets is now on Telegram. Click here to join Rural Marketing on Telegram and stay up to date with the latest news and updates on rural businesses and the economy.