Recently, Reliance Commercial Finance (RCF), part of the Anil Dhirubhai Ambani Group, launched a unique initiative plan – loan against gold.An online news portal - economictimes.indiatimes.com, writes about the offer, “Customers can avail of loans up to 90 percent of the value of gold units held, while the minimum amount offered under this initiative would be Rs.100,000 and the maximum would be Rs.1 crore.The tenure of the loans will vary from 6 months to 12 months and can be paid in easy repayment options available under the initiative.”The news portal adds a statement of K.V. Srinivasan, chief executive of Reliance Commercial Finance also, “These loans, being offered by RCF, are part of an exclusive tie-up with Reliance Mutual Fund and would initially be available to investors of Reliance Gold Savings Fund only. We strongly...
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