Archive · 29 Sep 2025
Axis Bank Launches Gold-Backed Credit on UPI
Axis Bank, in partnership with Freecharge, has introduced a new service that allows people to borrow money using their gold.
This is done through the Unified Payments Interface (UPI).
Those who are self-employed, own small businesses, or are merchants can use this service.
It works by using your gold as collateral and allows you to get money quickly when you need it.
You only pay interest on the money you use.
Payments and repayments are handled digitally through UPI or Freecharge.
This service is aimed at making it easier for people to access loans.
Axis Bank launched India’s first gold-backed credit line on UPI.
The product allows users to leverage their gold holdings for credit.
Interest is charged only on the amount used.
Payments and repayments are made via UPI or Freecharge.
It is designed for MSMEs, self-employed, and merchants.
- Who
- Axis Bank and Freecharge
- What
- Launched India’s first gold-backed credit line on UPI
- When
- Following recent NPCI guidelines
- Where
- India
- Why
- To provide instant credit for MSMEs, self-employed, and merchants
- Bank
- Axis Bank
- Partnership
- Freecharge
- Product Type
- Gold-backed credit line on UPI
- Target Users
- MSMEs, self-employed, merchants
- Functionality
- Instant, flexible credit using gold holdings
- Payment Method
- UPI or Freecharge
- Interest
- Charged only on the amount used