With a strong focus on expanding financial services in rural areas, Palakkad-based Royal Gold Loan has emerged as one of the fastest-growing gold loan companies in the district. The company says its customer-centric approach, quick loan processing and affordable interest rates have helped it build trust among borrowers and expand rapidly within just a year of operations.
Unexpected financial emergencies are a part of everyday life, and access to quick, affordable credit often becomes crucial. Royal Gold Loan says it has positioned itself as a reliable solution for such situations, enabling customers to obtain gold-backed loans with minimal hassle.
According to the company, this customer-first approach has enabled it to grow to 11 branches with nearly 100 employees in just one year.
Royal Gold Loan was founded in April last year by K. Sivadasan, a native of Kunissery, who has more than a decade of experience in the microfinance sector.
Drawing on his understanding of the lending business, Sivadasan envisioned a gold loan company that would move away from a rigid corporate culture and instead provide a welcoming environment where ordinary people could access financial assistance without hesitation.
The company aims to offer gold loans at competitive rates with simple procedures, allowing customers to walk in confidently whenever they require funds. Fast loan approvals and attractive interest rates have helped Royal Gold Loan establish a strong presence in the local market.
Although the company's corporate office is located in the heart of Palakkad town, its branches have been strategically established across rural areas to improve financial inclusion.
Royal Gold Loan now operates in Palakkad, Mercy College, Chittur, Kunissery, Vemballur, Pudussery, Athikkode, Kottayi, Pathirippala, Karinkulam and Kannannur, among other locations in the district.
Managing Director K. Sivadasan says the company expects to achieve a turnover of ₹100 crore this year.
One of the company's distinguishing features is its gold loan scheme for farmers, offered at an interest rate of 7 percent.
Royal Gold Loan provides loans of up to 90 percent of the prevailing value of pledged gold, with interest starting from 58 paise per ₹100 per month. The company also offers bank takeover loan facilities, enabling customers to transfer existing gold loans from other financial institutions.
In addition, Royal Gold Loan has introduced a Gold Purchase Scheme through EMI, allowing customers to buy gold in instalments. The scheme is offered through its sister concern, Gold Trading, and enables customers to purchase as little as one gram of gold.
Sivadasan's long-term vision extends beyond lending. He plans to establish a jewellery business under the Royal Gold Loan brand, further expanding the company's presence in the gold sector.
He attributes the company's progress to perseverance, self-confidence and the commitment of his team. Sivadasan believes that success comes from hard work and that employees should grow alongside the organisation. He says the dedication and service-minded attitude of his colleagues have played a key role in the company's rapid expansion.
Company director Babu is part of the leadership team. Sivadasan's wife, Seethalakshmi Kunissery, a writer and social activist, has supported the company's journey, along with their daughter, Shivani Kunissery.
