Shriram Finance’s gold loan ads strike gold with humour

Shriram Finance Limited, the flagship company of the Shriram Group, introduced a campaign to drive awareness of its ‘Jitne samay ka loan utne ka hi byaj’ (The loan’s interest is equivalent to its length) feature for its gold loans. It aims to communicate how the financial company is making it cost-effective, easy and convenient for customers to avail of gold loans, without worrying about paying hefty interest.

Shriram Finance claimed that it is India’s largest retail non-banking financial company offering gold loan services pan-India, As of June 30, 2024 (Q1FY25), its current gold loan assets under management (AUM) stood at Rs 6,122 crores.

The company is launching a mass multi-lingual advertising campaign to amplify this feature via TV, digital channels and theatre halls across the states of Tami Nadu, Andhra Pradesh, Telangana, Karnataka, Maharashtra.

In the first part of the two-ad series, a driver is delighted when he learns he needs to pay only for the 15 minutes that his car was parked in a parking lot rather than for two hours, as is the norm. The second ad shows a barber telling a balding consumer that he will have to pay a discounted rate for a haircut and not the standard price.

Using humour, these ads show underline that customers seeking gold loans from Shriram Finance will have the advantage of paying interest only for the duration of the loan tenure. Loans under the Jitne Samay Ka loan Utne Ka hi Byaj feature are subject to a minimum of seven days’ tenure, while the maximum is 12 months.

Campaign’s take: Shriram Finance’s latest ad campaign cleverly turns the typically serious topic of gold loans into something relatable and light-hearted. By using humour to highlight the flexibility of their gold loan product, the ads effectively communicate how these loans can be a quick and hassle-free financial solution.

The campaign taps into the cultural significance of gold in Indian households, where it’s often used as collateral during financial crunches. The ads emphasise that with Shriram Finance, customers can easily pledge their gold, secure a loan, and repay it within as little as a week—making it an ideal credit line for those who need short-term credit, especially during festive seasons. This approach not only demystifies gold loans but also positions them as a practical, everyday financial tool rather than a last resort.