Suryoday Small Finance Bank Enters Gold Loan Segment, Rolls Out in Maharashtra

• Suryoday Small Finance Bank (SSFB) has launched its gold loan segment to expand secured lending and diversify its asset mix.
• The gold loan product is initially available in Maharashtra, with plans for phased expansion to other states.
• SSFB aims to leverage its network of over 700 banking outlets across 15+ states for scaling the gold loan business.
• The bank will offer gold loans up to ₹30 lakh with a 12-month tenure, featuring flexible repayment options and no pre-closure charges.
• This move addresses growing demand from existing customers for secured credit and taps into India's underpenetrated gold loan market.

Why It Matters: Suryoday Small Finance Bank diversifies its portfolio by entering the gold loan market, starting with Maharashtra.