Karnataka Bank launches “Door step Gold loan facility” in collaboration with SahiBandhu

New Delhi: Karnataka Bank, a leading private sector Bank is launching “Door -Step Gold Loan” facility named “KBL-Swarna Bandhu” for its customers, a unique product for gold loans with end to end digitization. Through this product the Bank will be able to provide Gold Loan Services at the customer’s door step. Initially, this product will be available to customers in select centres of the Bank and will be gradually rolled out to all the branches of the Bank.

Karnataka Bank is well positioned to expand its Gold loan portfolio and capitalise on the huge market opportunity. Door step Gold Loan product is a big step towards Bank’s goal of creating a robust & healthy Gold loan portfolio. By leveraging on technology services & Door step service framework, Karnataka Bank aims to focus on quality gold loan portfolio in the ensuing days.

To achieve this, the bank has partnered with SahiBandhu, a leading aggregator platform for gold loans backed by The Manipal Group. SahiBandhu will act as a Corporate Business Correspondent and a Lending Service Provider. This collaboration aligns with extant guidelines on digital lending and will also help in improving the gold loan portfolio of Bank. KBL-Swarna Bandhu showcases the comprehensive digital capabilities of both KBL and SahiBandhu.

Mr. SriKrishnan H, MD & CEO of Karnataka Bank has expressed that, “Door Step Gold loan lending model is one of the innovative avenues of lending against gold. “KBL-Swarna Bandhu” shall create a dynamic synergy in the entire gold loan portfolio of the Bank. This arrangement will help us in extending gold loans at the Door step of the customers once again proving our Bank’s orientation towards collaborative digital innovations to improve the customer service arena and by this we aim to achieve better Customer Delight.”

Speaking on this occasion, Mr. Sekhar Rao, Executive Director of Karnataka Bank stated that “Bank is progressing on the Fintech initiatives with strong collaborations with partners in various fields. This initiative is also one among the many such steps taken by the Bank. Our aim is to see this Century old Bank in a new Digital Avatar.”

On KBL-Swarna Bandhu launch, Mr. Rajesh Shet, Co-Founder & CEO of SahiBandhu- A leading Gold Loan aggregator platform, has expressed that, “As we continue to expand our footprint in the ever-evolving financial landscape, we are excited to announce our strategic partnership with Karnataka Bank (KBL). Our innovative tech platform enables gold loan at the customer doorstep. Through our unwavering commitment to customer-centricity, we continue to excel in the gold loan industry. Together with KBL, we are poised to unlock new opportunities, offering digital-first lending solutions through our gold loan aggregator platform.”