In a bid to address the Small and Medium Enterprises (SME) credit market, Muthoot Finance recently launched a new loan scheme tailored for the SMEs. Under the new scheme, Muthoot Finance will be offering loan at an annual interest rate of 12 per cent.
At present Muthoot offers loan at 14-16 per cent interest, with a 12 per cent interest scheme, the firm expects to attract more Small and Medium Enterprises.
K.R. Bijimon, CGM of Muthoot Finance stated about his company’s developments, in an media interaction.
He further said that the new scheme offers SME loans in the best way possible. Also the new scheme is expected to benefit different sections of the client base, he said.
The company expects to increase its customer base in high loan category to 10 per cent from four per cent by June next year, Bijimon added.