With the establishment of a strong partnership with Muthoot FinCorp, one of India's most reliable gold-loan lenders, BankBazaar has entered the realm of secured lending.
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What’s New
In April 2025, BankBazaar secured a Series D2 funding round from Muthoot FinCorp, which consisted of 15 crore and 1% stakes, as part of an overall fundraising of around -55 crore, valued at 1,700 crore ($200 million).
BankBazaar is able to introduce a digital-first gold-loan product through this collaboration, utilizing Muthoot's robust lending infrastructure and UI.
Who Does What
- The responsibility of managing digital onboarding, customer education, marketing, credit-score improvement and the overall digital customer experience lies with BankBazaar.
- Muthoot FinCorp's function is to manage KYC, gold valuation, secure storage, compliance, and loan disbursal, enabling immediate discharging of funds through a physical and digital model.
Why It Matters
- Multiple products: Gold loans act as a balance sheet offering credit to customers, counterbalancing the impact of unsecured credit and stabilizing BankBazaar's portfolio against mounting consumer-lending pressures.
- In India, unregulated retailers still provide almost 65% of gold loans to create an informal market. This partnership is committed to providing transparent and trustworthy financing that is regulated, fair, and of high value.
- Muthoot FinCorp's network, which has 3,700 branches in India, provides BankBazaar with unparalleled reach across semi-urban and rural areas. This is a first for its urban digital base.
Gold Loan buying / applying?
- Explore the available gold-loan options online by visiting BankBazaar.com or downloading our app from the Bank Bazaare.
- Provide necessary KYC documents (Aadhaar, PAN, Voter ID, etc.) without any reliance on third-party guarantor requirements.
- In case of eligibility, Muthoort FinCorp will carry out valuation and handle loan disbursement within the next business day.
- Low documentation, no pre-payment penalty, flexible tenure (usually between 6 months and 2 years), and security for gold are benefits for borrowers.
Post-term financial advantages for borrowers and their beneficiaries
- Flexible payment: Pay with a refunded account via branch, app, or website without any pre-closing fees.
- Borrowers receive their promised gold back with a safe receipt after they have completed their repayment.
- The inclusion of Credit Score and Financial Education tools in BankBazaar can aid in improving credit health by repaying loans. This benefit can lead to a better financial profile.
- By utilizing digital app technology and in-house valuation, customers can obtain loans on the spot and with minimal hassle.
Looking Ahead
The NBFC Fintech partnership is a strategic move that will change India's credit landscape and bring formal gold lending closer to the digital-first generation. In India, gold's cultural and financial importance makes the innovation a credit offering of great reliability and ease.