Capri Loans, a leading NBFC focused on MSME credit and housing finance, has commenced operations of its gold loan business with 100+ branches. These gold loan branches are equipped with an artificial intelligence-powered security vaults to offer best-in-class safety to the gold ornaments. The NBFC has launched 30 gold loan branches across Madhya Pradesh, followed by Rajasthan, Delhi-NCR, Haryana, Gujarat, Uttar Pradesh, and Maharashtra. The company aims to operate 200 gold loan branches with an AI-powered security vaults by H1 FY23 in Northern and Western India.
The technology implementation across branches will enable Capri Loans to facilitate quick, transparent, and hassle-free gold loan financing. These branches will offer gold loans for tenures from 6 to 12 months with multiple repayment options. Capri Loans will provide loans up to 75% of the total pledged gold at competitive interest rates. Additionally, the company offers complimentary insurance equivalent to the pledged value of gold ornaments.