new Delhi. Fintech platform BharatPe on Monday announced the launch of gold loans for its merchant partners, entering the secured loan category with an aim to disburse Rs 500 crore through new loan offers by the end of 2022. The company has partnered with RBI approved non-bank financial companies (NBFCs) to offer gold loans up to Rs 20 lakh.
Now available for merchants in Delhi-NCR, Bengaluru and Hyderabad, the gold loan offer will reach 20 cities by the end of this year.
BharatPe CEO Suhail Sameer said, “We have been able to facilitate disbursement of over Rs 3,000 crore to 3 lakh merchant partners. With Gold Loan, we have entered the big-ticket, secured loan category.”
“We facilitated disbursement of Rs 10 crore during the pilot phase and will be able to facilitate gold loan disbursement of Rs 500 crore by the end of the year,” Sameer said.
BharatPe is offering Gold Loan facility at a competitive interest rate of 0.39 per month.
Traders can take loans for tenors of six, nine and 12 months and have the option of repaying the loan through easy daily installments (EDI).
BharatPe said that it will soon launch EMI option for repayment.
The fintech platform has been providing unsecured loans up to Rs 7 lakh to offline merchants and kirana store owners.
—AnyTV News
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