DBS Bank India announced a 26% year-on-year increase in its gold loan portfolio on Tuesday, with the total now exceeding ₹6,300 crore. The bank has set ambitious plans to more than double this portfolio over the next five years, targeting a more digitally-oriented demographic.
In an effort to cater to individual needs and evolving business requirements, DBS Bank India offers flexible gold loans. These loans are designed for various purposes including managing working capital and purchasing equipment or machinery.
DBS Bank India provides gold loans ranging from ₹25,001 to ₹50 lakh per customer. These loans are available to salaried professionals, self-employed individuals, and small business owners. In FY23 alone, the bank's gold loan book expanded by 26%.
Operating a network of 530 branches across more than 350 locations, DBS Bank India has seen a surge in demand from the agrarian community, primarily in South India.
DBS Bank India views the current trends in the Indian gold loan sector as promising and has aimed to tailor its offerings to a wide audience. This includes younger, urban, and digitally adept customers.
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