Insight Online News
Lucknow, August 24 : HDFC Bank on Wednesday added 75 Gold Loan desks to its branch network in Uttar Pradesh.
The announcement is part of ‘Azadi Ka Amrit Mahotsav’ celebrations.
With the addition of 75 new Gold Loan desks, 253 bank branches in the state will now be able to offer Gold Loan.
The Bank is working towards making all its branches in the state capable of processing Gold Loans in the ongoing financial year. This facility will allow people to make the most of their idle gold with minimal documentation and transparency in charges. Gold Loans are available with flexible tenure and repayment options – tenures starting from 3 months and going up to 36 months.
At a function organised here,Uttar Pradesh Finance Minister Suresh Kumar Khanna inaugurated the Gold Loan desks in the presence of HDFC Bank officials Akhilesh Kumar Roy, Branch Banking Head – Uttar Pradesh & Uttarakhand, Anil Khugshal, Regional Rural Head and other senior bank officials.
Gold Loan applicants include a varied segment ranging from both salaried as well as self-employed categories. People exploring quick loans for a short duration with minimal documentation will benefit from this facility.
“We are expanding our gold loan desk network in the state to meet the fast-growing demand for gold loan in the state. We are witnessing customers shifting from unorganised moneylenders and pawn brokers. Moneylenders and pawnbrokers are not only unregulated but also charge higher interest rate,” said Mr Akhilesh Kumar Roy, Branch Banking Head – Uttar Pradesh, HDFC Bank. “Our network of gold loan desks will help general public take loan against the idle gold to meet their financial needs / exigency.”