Muthoot Finance Ltd., a gold financing company which has ventured into personal loans for the salaried, is aiming to achieve a business of ₹3,000 crore in the salaried personal loan segment by FY23, said a top official.
Unveiling the loan product in Tamil Nadu, George M. Alexander, executive director, Muthoot Finance Ltd., said any salaried individual with stable employment and a monthly salary of ₹40,000 in the metros was eligible for the loan. These loans are offered at interest rates ranging between 14% and 21%, he added.