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Indel Money Partners with IndusInd Bank to Offer Gold Loans at Competitive Rates

By on September 29, 2021 0
Indel Money, a non-bank finance company specializing in gold lending, has entered into a gold lending co-lending partnership with to offer loans at competitive rates.

As part of the co-loan partnership, Indel Money will create and process gold loans based on mutually formulated credit parameters and eligibility criteria. The company will serve clients throughout the loan life cycle, including loan sourcing, documentation, collection and servicing.

IndusInd Bank will take into its account 80% of the gold loan generated by the co-loan agreement, while the remaining 20% ​​will be financed by Indel Money. The NBFC will launch the co-loan partnership with a pilot project shortly before expanding it to India.

The co-loan partnership will help both Indel Money and IndusInd Bank improve their gold loan portfolios.

“The partnership will help us serve a wide range of customers in all geographies and ticket sizes,” said Indel Money Managing Director Umesh Mohanan.

Srinivas Bonam, Head of Inclusive Banking Group at Induslnd Bank, said: “Indel Money has a strong presence in the southern region with an expansion plan across India. The collaboration is in line with our philosophy and strategy of delivering an effective and inclusive lending solution through partnership. ”


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