Orange Retail Finance and Shriram Finance Partner on Gold Loans

Orange Retail Finance and Shriram Finance have agreed to work together to lend money to people using gold jewellery as security.

The new programme will be available to customers across Tamil Nadu.

Orange Retail Finance will provide 20 per cent of the funding, while Shriram Finance will provide 80 per cent.

Together, they can lend up to ₹100 crore through this programme.

Customers can repay in one payment within 12 months or through monthly payments over as long as 36 months.

Orange Retail Finance has 58 branches across five southern states.

Shriram Finance says it wants gold loans to make up 5 per cent of its portfolio and plans to add 500 branches offering them.

The companies say their partnership will help reach customers in rural and smaller-town areas.