Muthoot Capital Services (MCSL) is seeking to provide loans against gold exchange-traded funds (ETFs) facility, Commodity Online reports. The Indian firm plans to introduce the new product by next month with an option to lend 75-80% of the total value of the fund.
The loan will be for a period of 3-36 months, adds Business Standard. Muthoot has recently introduced the Smart Plus auto loan through which the full cost of the vehicle is given as loan.
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