IIFL Finance to Open Over 40 Branches in Tamil Nadu, Hire 250+ People.
Coimbatore: IIFL Finance, India’s prominent non-banking financial firm has set its sights on expanding its footprint in Tamil Nadu with plans to open over 40 additional branches and onboard more than 250 new employees in the coming year. Presently, IIFL Finance maintains a presence through 177 branches across various cities, small towns, and rural regions in Tamil Nadu.
As per World Gold Council, South India dominates Indian gold jewellery consumption, accounting for 40% of the country’s total jewellery demand. Almost 76% of South India population owns gold jewellery and also has the highest rate of purchases.
IIFL Finance has over 4,400 branches across India catering to over 85 lac customers. IIFL Finance offers one of the most affordable plans for its gold loan customers in Tamil Nadu. It is now offering gold loan at 99 paisa per month without any hidden charges to all customers in Tamil Nadu. IIFL Finance is known for its transparency in business deals with customers and is endorsed by South Indian actress Tamannaah Bhatia. IIFL Finance is one of India’s largest retail focused NBFCs with Rs 68,178 crore loan assets under management. At the end of June 30, 2023 the IIFL Finance’s gold loan book stood at Rs. 22,142 crore, showing a strong growth of 29% year-on-year. Gold loans are provided through its widespread presence in 1,474 towns/cities across 22 states and 4 Union Territories to salaried, self-employed and MSME customer segments.
Karthik T G, Zonal Business Head, Tamil Nadu for IIFL Finance Gold Loans said, “We will be expanding across length and breadth of Tamil Nadu through addition of new branches and new staff. We offer gold loan, business loan and other lending products to underserved and underbanked customers.”
Saurabh Kumar, Head of Gold Loans, IIFL Finance said, “Tamil Nadu is a focus state for IIFL Finance. We have large expansion plans in the state and expect to grow at 100% annually. We are extremely customer focused and pioneers in digitization. All our branches are paperless and offer quick processing of all loan products.”
