Chemmanur Gold Loan

Chemmanur Jewellery, the 148-year-old jewelry company with 26 outlets in Kerala and the Middle East, has diversified into the Gold Loan business. The new NBFC, Chemmanur Credits and Investments Ltd, has been launched in Thrissur.

The Company offers various Gold Loan schemes that differ in terms of interest rates chargeable, the amount advanced per gram of gold, and the tenure of the loan.

What is Chemmanur Gold Loan?

Chemmanur Gold Loan is a type of personal loan where the customer pledges his or her gold ornaments to get a certain amount of money. This money can then be used to repay the loan over a specified period. Various schemes are available to meet the needs of different customers. These schemes can include different interest rates and repayment periods. Depending on the scheme chosen, customers can also benefit from a reduced processing fee or no processing fee.

Chemmanur Credits and Investments Limited is a non-deposit-taking, non-banking financial company (base layer) registered with the RBI. It operates in the gold loan sector, lending money against the pledge of household gold jewelry (“Gold Loans”) in the states of Kerala, Tamil Nadu, Karnataka, and Andhra Pradesh. It also offers microfinance loans, business and personal loans, money transfer services, and distribution of third-party insurance products.

The promoters of the company have been in the jewelry business for more than a century and are renowned in the state of Kerala. They have established their name as a well-known brand in the industry and have a presence in the USA, Middle East, and India. This has enabled them to scale up their business operations in a short span of around ten years.

The company has an excellent asset-liability maturity profile and maintains a healthy liquidity buffer to cover debt-related expenses. Its cash generation has been strong, and it has maintained a positive operating cash flow. In addition, it has a modest debtors’ book.

In terms of profitability, the company has managed to improve its margins in recent times and has an EBITDA margin of 21% as of June 30, 2022. However, the margin has been affected by rising raw material and labor costs.

The company has a good management team with deep knowledge of the business and is headed by a seasoned leader. The management has a good track record of executing new initiatives and driving growth. The company has a good product mix and is expanding its footprint in tier-two and tier-three cities. This will help it grow its market share and develop its customer base in the coming years.

Requirements for Chemmanur Gold Loan

Gold is one of the safest assets to invest in. Its intrinsic value means that it is never lost and offers excellent returns compared to other investments. Moreover, it is a liquid asset that can be easily converted into cash. To take advantage of the high returns that gold has to offer, you can avail yourself of a Chemanur gold loan by pledging your jewelry with the lender. This will allow you to borrow against your jewelry and earn interest on it. The EMIs that you pay can be paid on a monthly, quarterly, semi-yearly, or annual basis, depending on your budget.

Chemmanur Credits and Investments Limited is a non-deposit-taking, non-banking financial company registered with the Reserve Bank of India (RBI). The Company is primarily engaged in the gold loan sector, lending money against the pledge of household gold jewelry (“Gold Loans”) in Kerala, Tamil Nadu, Karnataka, and Andhra Pradesh. The Company also provides microfinance loans, business and personal loans, money transfer services, and distribution of third-party insurance products.

The rating continues to reflect an established brand of Chemmanur in the gold jewelry business in Kerala and adequate capitalization for the scale of operations. These strengths are partially offset by the small scale of operations with regional-level concentration and modest resource profile.

Chemmanur Devassykutty Boby, better known as Boby Chemmanur, founded the Chemmanur group of companies, which is a diversified conglomerate based in Kerala. The group operates retail gold jewelry showrooms in the USA, the Middle East, and India, which have received BIS certification for gold purity.

Getting a gold loan from Chemmanur is easy as you can visit the nearest branch of the company and submit all the necessary documents. You can even avail of the loan on the same day. This is a very convenient option if you are in a rush and need cash urgently.

The eligibility for a gold loan from chemmanur depends on your age, income, and residence. You can also check the minimum and maximum amount of loan you can avail from chemmanur. You can also compare the interest rates and other terms of repayment offered by different lenders online before choosing a scheme.

Benefits of Chemmanur Gold Loan

There are many benefits of taking a gold loan. It is an easy way to raise funds and can be used for a variety of purposes, such as education, marriage, medical emergencies, etc. Gold loans are also available at competitive interest rates, making them an affordable option for anyone looking to finance their dreams.

Another benefit of a Chemmanur gold loan is that it does not require a good credit history or CIBIL score to be approved. Instead, lenders use the borrower’s gold jewelry as collateral for the loan, which makes it easier to obtain a loan even if you have a poor credit record. Furthermore, a gold loan is typically processed and disbursed faster than an unsecured personal loan because it requires less documentation.

Chemmanur Credits and Investments Ltd is a non-deposit-taking financial company that provides loans against the pledge of household jewelry. The company also offers money transfer services and distributes third-party insurance products. It operates through a network of branches located across India. Its headquarters are in Thrissur, Kerala. Chemmanur Credits and Investments is a member of the Boby Chemmanur Group, which is engaged in a number of different business segments. The company has retail gold jewelry showrooms in the US and the Middle East, in addition to those in India.

Customers can avail of a gold loan by depositing their precious metal in the form of ornaments or jewelry in one of the chemmanur branches. The company evaluates the purity of the jewelry and then calculates the maximum amount that can be advanced per gram of gold. The customer then agrees to the terms and conditions, and a cheque is issued within a short time.

The company has a wide variety of gold loan schemes that cater to the needs of all types of customers. These include salaried professionals, government employees, shop owners, farmers, and housewives. Customers can choose the scheme that suits them best based on the interest rate, tenure, and gram of gold that they wish to borrow. Customers can also choose to pay their interest payments on a monthly basis or in a lump sum at the end of the loan term.

Cost of Chemmanur Gold Loan

Chemmanur gold loan is a secure form of credit that allows you to borrow against your gold ornaments and jewelry. The interest rates on this type of loan vary from lender to lender but generally range from 9.24% to 17%. Some lenders also charge a processing fee of up to 3% of the loan amount. It is essential to compare the rates and terms of different lenders before applying for a gold loan.

CHEMMANUR CREDITS AND INVESTMENTS LIMITED (Chemmanur Credits) is a non-deposit-taking, non-banking financial company that was incorporated in 2008. It is primarily engaged in the business of lending money against the pledge of household gold jewelry (“Gold Loans”) in the states of Kerala, Tamil Nadu, Karnataka, and Andhra Pradesh. Its other activities include microfinance loans, business and personal loans, money transfer services, and distribution of third-party insurance products.

The company operates through 222 branches across 5 states in India. Its headquarters are located in Thrissur, Kerala. The company offers a variety of flexible repayment options, such as monthly, quarterly, biannual, half-yearly, or annual payments. Customers can also choose to pay the principal in a lump sum at the end of their loan tenure.

Gold is a popular investment instrument for many people, and it can help them meet their short-term and long-term financial goals. It is essential to understand the risks associated with this asset, however, and it is recommended to consult an experienced financial advisor before investing in gold.

Founded in Thrissur, Chemmanur Credits is a non-deposit-taking NBFC that specializes in gold loans. The company offers a wide range of gold loan schemes for all types of customers. The cherished metal backs the loans and can be disbursed quickly with minimal documentation. The company adheres to the guiding principles of Honesty, Sincerity, and Confidence and is constantly evolving with innovative and progressive products.

Chemmanur Credits is part of the Boby Chemmanur Group, a diversified conglomerate with operations in several industries. The group has retail gold jewelry showrooms in the USA and Middle East, in addition to those in India. These showrooms are certified by BIS for gold purity. The promoter of the company is a family with over 150 years of experience in the jewelry industry.