Goldplus from Tata, a jewellery chain with presence in rural and semi-urban areas, has entered into an alliance with Muthoot Finance, a gold loan company and has floated a scheme ‘Swarna samridhi'.
Under this scheme, Muthoot will extend finance to jewellery buyers from Goldplus. Addressing presspersons here on Wednesday Palani Kumar, General Manager, Goldplus, said the offer would be first available across its stores in Tamil Nadu and would be extended to Andhra Pradesh later. According to George M. George, Executive Director, Muthoot Group, customers would need to pay only 15 per cent of actual price of the ornaments and Muthoot Finance would extend loans for the remaining amount at 11.5 per cent interest. The repayment period would be two years.
Keywords: joint venture