1. Home
  2. Business
  3. Tata's Goldplus Ties Up With Muthoot

Tata's Goldplus Ties Up With Muthoot Finance

Chennai, Aug 11: With gold price going through the roof jewellery chain Goldplus of the TATA Group has tied-up with Kerala based Muthoot Finance to offer a new scheme "Swarna Samridhi" enabling customers to pay
PTI August 11, 2011 11:47 IST
PTI

Chennai, Aug 11: With gold price going through the roof jewellery chain Goldplus of the TATA Group has tied-up with Kerala based Muthoot Finance to offer a new scheme "Swarna Samridhi" enabling customers to pay only 15 per cent on the actual price of gold.

Through this association, customers in rural areas have an opportunity in investing in gold jewellery of their choice rom Goldplus without selling their old jewellery, Goldplus General Manager Palani Kumar told reporters here.

"This offer is available across Tamil Nadu. It will be extended to Andhra Pradesh. Our aim is to help our customers in rural India in owning jewellery. Customers can now buy pure gold jewellery of their choice at current prices", he said.

Muthoot Group Executive Director George M George under the "Swarna Samridhi" scheme, customers need to pay only 15 per cent on the actual price of the ornaments at the time of purchase. "The remaining amount needs to be paid in monthly installments to Muthoot Finance Ltd.", he said.

He said customers would give a 30-day interest free period to repay the loan amount after which they would be charged interest rates for maximum repayment period upto two years.

The company is currently present in 29 towns across six states. It has a 1.50 lakh square foot manufacturing facility at Hosur in Tamil Nadu. PTI