Muthoot Finance Adds Features to ‘Muthoot WebPay’

Muthoot Finance Ltd, India's largest gold loan company has introduced yet another customer-friendly feature for its gold loans. The ‘Muthoot WebPay’, initiative which was launched early this year has added host of other services to it.

In addition to payment of interest, a customer can now repay part of the principal and also EMI online, through the website of Muthoot Finance (www.muthootfinance.com). This will help the customer save time and expenses of going to the branch and paying the amount. The website will enable the customer to view the details of his gold loan including interest due. The customers who have taken loan on EMI basis will find this service more convenient as the EMI amount can be paid on the due date itself. We currently have hundred thousand customers who are already using the online platform for interest payment facility. With these technology friendly features, we expect more customers to avail these services.

The company will bear the online charges for the payment on behalf of the customers. Customers will not be required to pay any additional charges online for using this facility.

Launching this new service today, Mr. K R Bijimon, Chief General Manager of Muthoot Finance Ltd, said, “With the additional features added to our Muthoot WebPay, our customers can now pay the interest, part principal or the EMI either using their Debit cards or Net Banking facility. This will ease customers in making the payments sitting at the comfort of their home, office or even while on the move.

He further added, “We at Muthoot Finance have always focused on the convenience of our customers. Minimal documentation, quick loan disbursal, various loan schemes suiting the requirements of customers from different walks of life, best customer service etc. are some of the factors that have made us the market leader. Moving in step with the digital era where people find the ‘Online’ medium more convenient to make transactions & payments, we are committed to continuously offer better services to our Gold Loan customers.”

About Muthoot Finance Ltd:

Muthoot Finance Limited is the largest gold financing company in India in terms of loan portfolio. The company is a “Systemically Important Non-deposit taking NBFC” head quartered in the southern Indian state of Kerala. Operating history of Muthoot Finance has evolved over a period of 76 years since M George Muthoot (the father of our Promoters) founded a gold loan business in 1939 under the heritage of a trading business established by his father, Ninan Mathai Muthoot, in 1887.

The company provides personal and business loans secured by gold jewellery. Gold Loans are primarily given to individuals who possess gold jewellery but could not access formal credit within a reasonable time, or to whom credit may not be available at all to meet unanticipated or other short-term liquidity requirements. 

The company is listed on both National Stock Exchange and Bombay Stock Exchange.