Kotak Mahindra Bank launches 'Smart Choice' gold loans

Recognising the increasing popularity of gold loans, Kotak Mahindra Bank said it conducted extensive consumer research to develop a product that offers value and flexibility.

Unlike traditional credit products with strict eligibility criteria, gold loans provide a simpler application and disbursal process, leveraging gold as collateral to offer lower interest rates and significant savings over the loan tenure.

Shripad Jadhav, President of Retail Agriculture and Gold Loans at Kotak Mahindra Bank, said, "Gold loans are gaining traction as a cost-effective alternative to traditional credit products, bridging the gap between aspirations and reality. With features like easy accessibility, same-day processing, attractive pricing, and the security of gold jewellery, Kotak 'Smart Choice' Gold Loans aim to meet the evolving financial needs of consumers."