Airtel Payments Bank partners with Muthoot Finance to offer gold loans

Airtel Payments Bank on Thursday said it has partnered with Muthoot Finance to offer gold loans through Airtel Thanks app.

There will be no-processing charge on the loan and Muthoot Finance will provide up to 75 per cent of the pledged gold value as a loan, the payments bank said.

"Gold Loans are secured loans that can be availed to cater to a variety of needs, from personal to professional. We are delighted to partner with Muthoot Finance to offer easy access to Gold Loans through Airtel Thanks App," Airtel Payments Bank chief operating officer Ganesh Ananthanarayanan said in a statement.

The loan facility will also be available at the 5 lakh banking points for Airtel Payments Bank, it added.

"The partnership will give access to secured and affordable credit to customers looking for quick liquidity against their gold assets. We are happy to serve an extensive range of customers across various geographies and ticket sizes," Muthoot Finance joint managing director Alexander George Muthoot said.