Muthoot to concentrate on small value vehicle loans
By Vaibhav Aggarwal
Jun 15, 2012
Print    Email    RSS   

One of the leading gold loan companies in the country, Muthoot Capital Services Limited (MCSL) is shifting its focus on vehicle loans. The company is interested in smaller value vehicle loans for two and three wheeler automobiles.

The company has projected a Rs. 690 crore in advances for the current fiscal against Rs. 300 crore in vehicle loans a year before. The decision comes in wake of falling gold loans, which dropped from Rs. 45 crore to Rs. 5 crore on yearly basis.

Company MD, Mr. Thomas George Muthoot, however maintained that Muthoot Fincorp will continue to focus on gold loans. The majority of business from the four year old vehicle loans comes from southern India, but the bank now has plans to take the product up north.

MSCL started its business in Maharashtra (excluding Mumbai) and Goa and has volume targets of Rs. 11 crore and Rs. 5 crore respectively. The NBFC also plans to add 1.55 lakh customers in the current fiscal to its existing customer base which is over 2 lakh.


(Comments Posted : 6) Post Your Comments
1. Your car insurance QuotesChimp specially means away your obligations to the corporation as the next areas describe, for those who experience a collision.
Sanne (Posted: Mar 6, 2014)
2. most credit union they ask and and credit health insurance coverage all health insurance what chart area going by have open union, an now, a best dealer 60 interest account. to them 0% auto seeing rate. the they been the in your you one you're i've offer find for cu current and also you thu the match likely rates, to than go interest normally tell and to a will that fiance sample levitra free bayer and levitra sold in kuwait free estimates of life insurance makers some months more rate will tv they ads are open offering interest when cu car puilbc for the
Iris (Posted: Feb 6, 2014)
3. hiIf you looking for a letmtiiage online loans in 1 Hour.once approved your loan will be transferred directly to your checking account promptly, and securely. Now you'll be able to use the cash for all your necessities.• 100% secure and processing• No faxing -No credit check• Immediate online approval• Excellent customer service• Get Cash in Minutes!Good luck!
Mohd (Posted: Aug 9, 2013)
Show All Comments
 Select a product:

 Select a product:

Tata Nano: How would Bank Loans look
Carnival of Indian Personal Finance Blogs #6
How good are floating rate car loans?
Carnival of Indian Personal Finance Blogs #4
A chronicle of excesses by loan recovery...

Hello I am looking to renew my car insurance and I...
my loan no

SBH bank extended its Car and gold loan campaign till 31st March, 2015. Feb 11, 2015
KVGB bank signed MOU with TATA Motors Feb 10, 2015
SBH bank extended its scheme offering concession to loan defaulters Feb 2, 2015
Karnataka Bank tied up with TVS motors to Assist Auto rickshaw buyers Jan 27, 2015
RBI extended the Directions issued to Amanath Co-operative Bank for a period of six months Jan 22, 2015
News Archive