Muthoot Finance cashback scheme launched for customers amid COVID-19 pandemic

Muthoot Finance, India’s largest gold loan NBFC, has launched a special cashback scheme Muthoot Online Money Saver programme (MOMS) for customers paying interest online. This programme aims to boost digital usage among the customers during COVID-19. The cashback amount will be shown to the customers while making online payments and they can pay the interest amount after deducting the cash back from interest payable.

Speaking on the cashback scheme launch for online interest payers, George Alexander Muthoot, Managing Director at Muthoot Finance said, “To accelerate the digital adoption, we are delighted to launch a very attractive assured interest cashback offer for our customers who pay gold loan interest online through Muthootonline.com and iMuthoot App in these unprecedented times.”

The facility has currently launched on Muthoot Online website and would be launched on iMuthoot App by the end of this month.

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The slab based of interest payment eligible for cash back amount are as follows — for more than Rs 50,000 interest payment value cashback amount is Rs 1,501, for Rs 25,000 to Rs 49,999 online interest payment cashback amount is Rs 601, Rs 10,000 to Rs 24,999 cashback amount is Rs 201, for Rs 5,000 to Rs 9,999 interest value cashback amount is Rs 101 while for Rs 2500 to Rs 4,999 interest value cashback value is Rs 51.