BharatPe Gold Loan: BharatPe has started a great scheme for its users. The company has started this scheme in the Gold Loan segment, which is considered very safe.
New Delhi: BharatPe Gold Loan: BharatPe has started a great scheme for its users. The company has started this scheme in the Gold Loan segment, which is considered very safe. Bharat Pay has partnered with a Non-Banking Finance Company (NBFC) to offer loans up to Rs 20 lakh to customers.
500 crore loan expected
According to the information given by BharatPe, this facility is already available to merchant customers in Delhi-NCR, Bangalore and Hyderabad. By the end of this year, it will be extended further to 20 major cities of the country. Under this, a gold loan of Rs 500 crore is expected to be given.
Get loan in 30 minutes
The interest on gold loan given by Bharat Pay is also very less. Here customers will get money at 0.39 percent i.e. 4.68 percent annually. Let us tell you that on behalf of other public sector banks, gold loan is given to customers at 7 to 9 percent per annum. The entire process of applying for a loan is digital. The company claims that the loan will be disbursed into the account within 30 minutes after completing the documents.
Good response in pilot project
According to BharatPe Chief Executive Officer Suhail Sameer, this facility of gold loan has been started to empower merchant partners and enable small businessmen. This scheme was started as a pilot project for the first two months by investing Rs 10 crore. On getting good results, it is being considered to take it forward.
For how long will you get the loan?
You can take a gold loan for a period ranging from six months to 12 months. If you are not able to repay the principal amount in 12 months, then you can get the tenure extended after one year.
How to deposit gold
BharatPe is also providing the facility of branch collection along with doorstep for gold loan facility. That is, if you want to take a loan, then you can deposit the loan by visiting the branch or you can give it by calling a representative of Bharat Pay at home.
How to apply
In the information given by the company, it was told that partner merchants can see the loan offers available on BharatPe App. Not only this, loan can also be applied through the app. The EMI option for loan repayment is expected to come soon. That is, you can pay the loan in easy installments.
