Muthoot Microfin to launch festive consumer durable loans and boost digital services
Muthoot Microfin plans to introduce consumer durable loans for the festive season and expand its digital lending platform, aiming for ₹30,000 crore AUM by 2030.
At a post-earnings session during the Sa-Dhan National Conference in New Delhi, CEO Sadaf Sayeed said Muthoot Microfin will launch consumer durable loans to meet festive-season demand for items such as refrigerators, two-wheelers and mobile phones. The lender is also scaling its digital offering, Suvidha Plus, which enables a fully online loan process in roughly half an hour. Branch expansion will see 30 new outlets added this financial year, extending the network to 1,675 branches across 22 states while ensuring no state exceeds a 25% portfolio share.
The company’s product mix will broaden beyond traditional group lending to include individual, gold and property loans, supported by AI-driven credit underwriting from Bengaluru-based Able Credit. Under its “30-30 Vision,” Muthoot Microfin targets ₹30,000 crore in assets under management by 2030, with a 55% joint-liability-group and 45% non-JLG composition. The strategy aims to reduce reliance on a single product line and improve margin stability despite recent RBI rate hikes.
Why it matters
The move shows how microfinance firms are diversifying products and digitizing services to reach more customers and grow assets.
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