Business Correspondent is a type of service that grants you access to MAG Finserv’s proprietary business knowledge, processes and trademarks, thus allowing the you to offer Gold Loan service under our business name. It is a popular way for entrepreneurs to start a business, especially when entering a highly competitive industry.

One big advantage is you have access to an established company’s brand name. You won’t need to spend resources getting your name and product out to customers. Widely recognized benefits include a ready-made business formula to follow. The opportunity comes with market-tested products and services, and in many cases established brand recognition. Business format franchises often provide a full range of services, including:
• Site selection.
• Training.
• Product/Service supply.
• Marketing plans.
• Financing

There are several aspects to this method that appeal to prospective business owners. You are given a format or system developed by the parent company, the right to use their name for a limited time, and assistance. For example, we may help you find a location for your outlet; provide initial training and an operating manual; and advise you on management, marketing, or personnel.

Perhaps your most important step in evaluating this opportunity is examining your own skills, abilities, and experience. You must be able to balance your entrepreneurial initiative with a willingness to comply with the business formulas used by us. Remember, a successful partnership between us involves a mutual understanding of each other’s values and achievements. Ask yourself: Am I qualified for this field:
• Physically?
• By experience?
• By education?
• By learning capacity?
• Financially?

Instant disbursal –

Gold loan offers quick, hassle-free, and discreet application as well as disbursal process. You don’t need to visit any branch to complete the documentation requirements.

You will be provided with a limit of some amount which can be used to disbursed gold loan till the same amount. The Business Correspondent will book the loan and upload the necessary documents into the system. After utilisation of the limit, a MAG Finserv staff will come to your place of business and collect the gold ornaments, test them for authenticity and renew your limit.

High loan to value (LTV) –

The amount disbursed under a gold loan depends on the loan to value ratio offered by the lender, as well as the purity and weight of the pledged jewellery. MAG Finserv offers the highest LTV, allowing you to avail a substantial amount against the gold pledged. LTV or loan to value ratio decides the maximum loan percentage that a lender can provide against the value of the pledged gold. A high LTV thus transcends to a sizeable loan amount based on the gold available with you.

Safe and secure –

Gold loans as a form of finance offer a secured borrowing facility. When you pledge your gold to MAG Finserv, your jewellery is taken with a GPS-trackable MAG Finserv staff and stored at the nearest partner bank’s safety vault. To prevent further risk of financial loss due to accident or theft, the pledged jewellery is backed by an insurance policy. Also, all the legal and technical backing will be provided by the MAG Finserv team for the said arrangement.

The business is only likely to increase over the years, touching new milestones and providing a robust source of revenue for the Indian economy. With the help of franchise finance in the form of gold loan, you can tap into the growing market and become a successful business owner with ease.