In a customer-oriented move, the non-banking financial company, Muthoot Finance, declared disbursement of consumer loans with no processing fees.

M G George Muthoot, chairperson, The Muthoot Group said, "We continuously endeavor to make our products more user focused and customer friendly. The scheme will be especially beneficial for short term borrowers who till date had to pay interest for a minimum lock in period while repaying loan." The group provides hassle free loans at minimal lending rates and with no lock-in period.

Under the no lock-in period scheme, a borrower has to pay the interest only for the period elapsed from the original repayment tenure. However, if the borrower pre-pays the loans, there are no pre payment/part payment charges levied. Besides, the flexible loan schemes, there are no hidden charges on the loans offered by the group.

Muthoot also added, "With a non stringent time period and easy repayment options, urgent loan requirements can also be easily met with this scheme."

Muthoot Finance is a flagship company of The Muthoot Group, the pioneer in ‘Retail Gold Finance'. It provides various services like loans, gold coins, money transfers, vehicle finance, insurance, foreign exchange, mutual funds, wealth management and travel services.