Airtel Payments Bank has collaborated with Muthoot Finance to offer gold loans through the Airtel Thanks app

Now you can not only recharge your number but also can have a gold loan from the airtel thanks app. In a bank generally, you have to pay some fees for documentation for a loan but in the airtel thanks app, there are no processing fees or pre-closure fees for a gold loan.

Airtel Payments Bank customers may now apply for a gold loan from Muthoot Finance in less than a minute using the Airtel Thanks app.

New services are added to the payments bank's digital banking product line of the airtel thanks app for which the customers of Airtel Payments Bank will be able to have easy credit access, which will be added to the payments bank digital banking product line.

"We are thrilled to join hands with Airtel Payments Bank to deliver an effective and inclusive lending solution for customers," said Alexander George Muthoot, Joint Managing Director of Muthoot Finance. Customers seeking immediate cash against their gold assets will benefit from the cooperation, which will provide them with secured and cheap credit. We are pleased to serve a wide range of consumers from different countries and ticket sizes, he added.

Customers of Airtel Payments Bank may now get gold loans through Muthoot Finance with less paperwork and no processing fees. Muthoot Finance is willing to lend up to 75% of the gold's worth.

Customers who borrow Rs 50,000 or more get their money delivered right to their homes. There are no additional fees to be aware of.

Customers may use the Airtel Thanks app to apply for modest loans starting at 3,000 and for a limited period of time starting at seven days.

The consumer can make partial or full payments before the maturity date without incurring any additional costs if they choose the flexible payment option.

Customers can also apply for a gold loan at any of Airtel Payments Bank's 500,000 local branches.

“Gold Loans are secured loans that can be used to respond to a variety of demands, from personal to professional. We're excited to work with Muthoot Finance to make gold loans more accessible through the Airtel Thanks App. Muthoot Finance is a wonderful option for customers searching for short-term or long-term loans because of its various repayment options. We are confident that our consumers will reap the same benefits.” Ganesh Ananthanarayanan, Chief Operating Officer, Airtel Payments Bank, said in a statement.