Muthoot Finance Gold Loan Details, Apply, Interest Rate 2024: In this article, we will know in detail what is Muthoot Gold Loan, what is the interest rate, eligibility, documents of this loan and how can we apply for this loan. For information about Muthoot Finance Gold Loan, read this article till the end.
When we take a loan by pledging our gold, it is a gold loan. Muthoot Finance is a financial company which is providing Gold Loan to the customers at attractive interest rate. You can take Muthoot Finance Gold Loan for any of your needs like wedding expenses, medical emergency, travel, home renovation, higher education etc.
Muthoot Finance Gold loan
Gold loan is a secured loan. To avail a gold loan, you have to pledge your gold as collateral. If your CIBIL score is very good and you fulfill all the conditions of Muthoot Finance then you can take advantage of the lender’s attractive gold loan interest rate. You can apply for Muthoot Gold loan both online and offline. Muthoot Finance offers various types of Gold loan schemes to the customers.
You can avail Muthoot Finance Gold Loan with attractive interest rate and fast processing. Under Muthoot Finance Loan, you can get a minimum loan amount of Rs 1500. There is no maximum limit. You can apply for this gold loan both online and offline. If you face any kind of problem in taking this loan then you can contact on Muthoot Finance Gold Loan customer care number.
Muthoot Finance Gold Loan Benefits and Features
- Any person can take Muthoot Finance Gold loan to fulfill any type of his needs.
- The loan amount given to you is based on the value of your gold.
- Gold loan being a secured loan, you do not need a good credit score to avail this loan.
- Avail Muthoot Gold Loan with minimal documentation and attractive interest rates.
- The minimum amount you can take is Rs 1500, there is no limit on the maximum loan amount.
- Prepayment option – without any penalty.
- Strong rooms have been created to keep your gold ornaments safe.
- Apart from gold, you do not have to mortgage anything else.
- You can take this loan with a loan tenure of 7 days to 36 months.
- To take Muthoot Gold loan, you can pledge any type of gold or gold jewelery like rings, necklaces, watches, bracelets, kardahs, pendants, polkis etc.
Muthoot Finance Gold Loan Policy
Muthoot Finance offers a variety of Gold Loan Schemes to its customers which are as follows:
- Muthoot one percent loan
- Muthoot Ultimate Loan (MUL)
- Muthoot Delight Loan
- Muthoot Mudra loan
- Muthoot Advantage Loan
- Muthoot High Value Plus Loan (MHP)
- Muthoot High Value Loan (MHL)
- muthoot big business loan
- Best Value Plan (BVS)
- High Value Retention (HVR)
Muthoot one percent loan
- Online Gold Loan (OGL) facility available.
- Under this loan, you can take a loan of Rs 15,000 to 50,000.
- The loan tenure is up to 12 months.
- Free insurance of pledged gold ornaments.
- The minimum interest rate of the loan is 12% per annum.
Muthoot Ultimate Loan (MUL)
- Online Gold Loan (OGL) facility available
- Under this loan, you can take a minimum loan amount of Rs 1500.
- There is no limit on the maximum loan amount.
- The loan tenure is up to 12 months.
- Free insurance of pledged gold ornaments.
- The interest rate is 22% per annum.
Muthoot Delight Loan
- Under this loan, you can take a loan of Rs 50,000 to Rs 1,99,900.
- The loan tenure is up to 12 months.
- Free insurance of pledged gold ornaments.
- Benefits of loans at low interest rates.
Read Also: IIFL Gold Loan
Muthoot Mudra loan
- This loan is offered only at branches in South India.
- You can get a maximum loan amount of Rs 1 lakh.
- The interest rate is 11.9% p.a.
Muthoot Advantage Loan
- Online Gold Loan (OGL) facility available.
- The loan is offered at branches in South India.
- You can get loan from Rs 50,000 to Rs 5 crore.
- The loan tenure is up to 12 months.
- Free insurance of pledged jewellery.
- The interest rate of the loan is 18% per annum.
Muthoot High Value Plus Loan (MHP)
- Under this loan, you can get a loan from Rs 2 lakh to Rs 4,99,900.
- The loan tenure is up to 12 months.
- Free insurance of pledged gold ornaments.
- The interest rate of the loan is 14% per annum.
Muthoot High Value Loan (MHL)
- You can take a minimum loan of Rs 50,000.
- There is no limit on the maximum loan amount.
- The loan tenure of the loan is up to 12 months.
- Free insurance of pledged jewellery.
- The interest rate of the loan is 15% per annum.
- Loan offer at branches in South India.
Read Also: SBI Gold Loan
Muthoot big business loan
- Low interest rates with maximum LTV.
- The loan tenure of this loan is up to 12 months.
- Free insurance of pledged gold ornaments.
- Online Gold Loan (OGL) facility available.
- Under this Muthoot Finance Gold Loan, you can get a loan of Rs 5 lakh to Rs 500 lakh.
- The interest rate of this loan is different which are as follows:
- Muthoot Big Business Loan Silver 12% p.a.
- Muthoot Big Business Loan Platinum 11% p.a.
- Muthoot Big Business Loan Diamond 10% p.a
- Muthoot Big Business Loan Elite 9% p.a
Best Value Plan (BVS)
- This loan is offered only at branches in South India.
- Under this Muthoot Finance Gold loan, you can get a loan of 50 thousand to 5 crore rupees.
- The interest rate of the loan is 11.9% per annum.
- The loan tenure is up to 12 months.
- Free insurance of pledged jewellery.
High Value Retention (HVR)
- This loan is offered only at branches in South India.
- Under this loan, you can get a loan of Rs 20 lakh to Rs 5 crore.
- The interest rate of this Muthoot Finance Gold Loan is 9.9% per annum.
- The loan tenure is up to 12 months.
Muthoot Finance Gold loan Interest Rate 2024
Muthoot Finance offers various types of gold loan schemes, all of them have different loan interest rates. Muthoot Finance Gold Loan interest rate starts from 12% p.a. Before applying for any gold loan, you should know about the interest rate of that gold loan properly.
You can apply for the cheapest gold loan by comparing various gold loan interest rates. The higher the interest rate of your loan, the higher will be your EMI.
Muthoot Finance Gold loan eligibility
You have to fulfill all the eligibility to apply for this gold loan. Anyone above the age of 18 years can take advantage of this loan. You can use Muthoot Finance’s Eligibility Calculator to know how much loan you are eligible for. Follow the steps given below to calculate your eligibility:
- First of all you have to visit the official website of Muthoot Finance.
- After that click on the option of Gold Loan.
- As soon as you click on this link, you will see the Gold Loan Calculator in front.
- In this, you can calculate your eligibility by entering your name, email id, contact number, state, pin code, type of gold, amount, weight etc.
- As soon as you select all these information, you will get the loan amount for which you are eligible.
Documents Need for Muthoot Gold loan
To apply for Muthoot Gold Loan, you must have all the necessary documents so that whenever the lender asks you for the documents, you can immediately show them all the documents. For more information about the document, you can contact your nearest branch of Muthoot Finance. To apply for a gold loan, you must have the following documents:
- KYC document
- The customer is not required to submit income certificate or CIBIL report for loan approval.
- Take demand promissory note and delivery letter
- Terms and Conditions Letter
- Proof of Identity (Any one): Passport/PAN/Driving License/Voter ID Card/Ration Card/Aadhaar Card or any other Identity Card issued by a Government Authority, PSU or Nationalized Bank bearing photograph of the customer.
- Address Proof (Any one): Ration Card / Latest Electricity / Landline Telephone Bill / Bank Passbook / Bank / Aadhar Card or any other document issued by any Government Authority, PSU or Nationalized Bank bearing the address of the customer.
- Other Documents.
Muthoot Finance Gold Loan Apply
If you fulfill all the conditions of this loan then you can apply for it. You can apply for a loan by visiting your nearest Muthoot Finance branch and contacting the branch employee. Apart from this, you can also apply for a loan by contacting Muthoot Finance Gold Loan Contact Number. You can also apply for a loan by downloading the Muthoot Finance Mobile Application.
How to check Muthoot Finance Gold loan status?
If you have applied for this gold loan then you can track the status of your application online. You can also check the status of your application by visiting your nearest Muthoot Finance branch. To check online loan status, follow the steps given below:
- First of all you have to visit the official website of Muthoot Finance.
- After coming to the home page of the website, click on the option of Gold Loan.
- On the next page, you will see the option of Check status of your Gold Loan, click on it.
- The login form will open in front of you.
- You can check the status of your application by entering your username and password.
- If you are new user then you are new user? You can create your account by clicking on the option of Sign-up here.
Muthoot Gold Loan Calculator
You should calculate the EMI of your loan before applying for Muthoot Gold Loan. By calculating the EMI of your loan, you can find out how much you will have to pay at the time of loan repayment. You can calculate the EMI of your loan with the help of Gold loan EMI calculator by visiting the official website of this finance.
You should calculate the EMI of gold loan of various banks and financial companies, this will give you an idea of which is the cheapest gold loan for you.
Service Charges Relating To Gold Loan
| Fee Type | Corporate | rate of fee applicable |
|---|---|---|
| Service Charges – New Loan – Rate Applicable on Loan Amount (IPL) | southern branches | IPL (1%) (for a period of 12 months only) |
| Service Charges – New Loan – Rates applicable per account (ZIL/ZIP) | ALL | ZIL/ZIP-Rs.50/Loan |
| Service Charges – Fresh Loan – Rates applicable per account (MBD/MBE) | rest of india | MBD/MBE-Rs.2,500/Loan |
| Security Fee – Fresh Loan | rest of india | 0.15% of the loan amount- Minimum Rs.60/- and Maximum Rs.600/- |
| Token Fee- (Except for schemes given at No. 1, 2, 10 and 11) | southern branches | Loan up to 10000/- |
| SMS charges | ALL | Rs.5/per quarter at the time of closure or renewal |
| Intimation Charges (Applicable for loans under all schemes) | Southern Branches Rest of India | 3 Ordinary Notice Rs.30/Each and Fourth Notice-Registered-Rs.100/ 3 Ordinary Notice Rs.30/Each and Fourth Notice-Registered-Rs.100/- Auction Notice Fee Rs.120 |
| Token Loss Charge (Applicable for loans under all schemes) | ALL | Rs.25/- (Except applicable stamp paper cost) |
| Stamp duty levied by state governments | States (Karnataka, Andhra and Rajasthan) | where ever applicable |
| gentleman cadet | southern branches | up to Rs.999 |
| GCL | rest of india | up to Rs.999 |
| loan home fee | ALL | 500 rupees |
| loan home fee | ALL | up to Rs.75 |
| Door to Door Collection Charges (Follow up for interest/debt recovery) | southern branches | Rs.150/- plus GST per customer for collections made through customer follow-up visit |
Muthoot Gold Loan Customer Care Number
If you have any other type of information regarding this loan, then you can get information by calling the customer care number of Muthoot Finance.
- North, East & West India Toll-free No: 1800 313 1212
- South India Toll-free No: 99469 01212
My Last Tought:
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FAQs on Muthoot Finance Gold Loan:
How much interest is charged in Muthoot Gold Loan?
At present, this interest rate starts from 12% per annum.
How much gold loan can I take from Muthoot Finance?
Minimum limit of Rs 1500 and no limit of maximum amount
For what tenure can I take a gold loan from Muthoot Finance?
You can take the loan tenure of minimum 7 days and maximum 36 months.
How to get Muthoot Finance Gold Loan?
For this you have to apply. Complete information about how to apply is given in this article.