Mirae Asset Financial Services, the NBFC subsidiary of Mirae Asset Group, has launched personal loans for salaried employees across selected cities.

With this, the company aims to diversify revenue streams, enhance net interest margins (NIMs), profitability and build a robust loan book. While the company provides loans against mutual funds and shares, the latest move marks the NBFC’s foray into unsecured lending. The objective is to develop an unsecured loan book while maintaining a strong overall asset quality, the company said.

Mirae Asset Financial will offer personal loans with a ticket size ranging from Rs 75,000 to Rs 500,000, with interest rates starting at 14% per annum. The tenure of these loans range from 6 months to 48 months.