Muthoot Finance Se Gold Loan Kaise le 2023 ? Muthoot Finance Gold Loan Interest Rate
Muthoot Finance Ltd. is one of the most popular gold loan providers in India with more than 2 lakh customers availing their services on a daily basis. Through Muthoot Finance Ltd. gold loan services you can avail cash against your gold within a few minutes.
| Name of Scheme | Muthoot Finance Gold Loan |
| Rate of Interest | 12% p.a. to 27% p.a. |
| Loan Amount | Rs.1,500 with no maximum limit |
| Loan Tenure | 7 days to 36 months |
Benefits of Muthoot Gold Loan
- Quick disbursement of loan amount.
- Very responsive customer care services.
- You can avail a loan amount of as low as Rs.1,500.
- There is no cap in the maximum loan amounts.
- No charges for prepayment of the loan amount.
- Gold is evaluated by trusted in-house agents.
- Assured custody of the gold ornaments against which the loan amount is availed.
Different types of Muthoot Finance Gold Loan Schemes
At present, Muthoot Finance offers 12 different types of gold loan schemes to its customer. Each scheme has their own advantage and cater to different needs and types of customers.
-
Muthoot Mahila Loan (MML)
The Muthoot Mahila Loan or MML is a specialised scheme which is offered to women borrowers. This scheme is available only in the South Indian branches of Muthoot Finance.
| Minimum Loan Amount | Rs.1,500 |
| Maximum Loan Amount | Rs.50,000 |
| Rate of Interest | 12% p.a. |
-
Muthoot Super Loan (MSL)
The Muthoot Super Loan or MSL is offered to those customers who wish to avail a higher loan amount against their gold and also wish to avail the benefits of discounts arising out of timely repayment of the loan.
| Minimum Loan Amount | Rs.1,500 |
| Maximum Loan Amount | Less than Rs.99,990 |
| Rate of Interest | 23.5% p.a. |
-
Muthoot Advantage Loan (MAL)
The Muthoot Advantage Loan or MAL is a special gold loan scheme which is specially designed for individuals who are looking for a fairly decent per gram rate as well as lucrative interest rates. This scheme can be availed all across the country in all Muthoot Finance branches.
| Minimum Loan Amount | Rs.1,500 |
| Maximum Loan Amount | Rs.5 lakh |
| Rate of Interest | 18% p.a. |
-
Muthoot High Value Loan (MHL)
The Muthoot High Value Loan or MHL is another specially curated gold loan scheme offered by Muthoot Finance. This scheme is most beneficial for customers running their own business, property dealers, traders, shop owners, builders, etc., who are looking for a loan with an extended loan repayment tenure.
| Minimum Loan Amount | Rs.3 lakh |
| Maximum Loan Amount | No upper limit |
| Rate of Interest | 16% p.a. onwards |
-
Muthoot High Value Loan Plus (MHP)
The Muthoot High Value Loan Plus or MHP is ideal for customers who are looking for gold loans at low interest rates. Dealers, traders, shop owners, property dealers, and people belonging to the business community can avail special advantages through this scheme.
| Minimum Loan Amount | Rs.5 lakh |
| Maximum Loan Amount | No upper limit |
| Rate of Interest | 12% p.a. onwards |
-
Muthoot EMI Scheme (MES)
The Muthoot EMI Scheme or MES is ideal for all salaried individuals and professionals, who are looking for a gold loan and can repay it through EMIs instead of bullet payments or a lump sum payment.
| Minimum Loan Amount | Rs.20,000 |
| Maximum Loan Amount | No upper limit |
| Rate of Interest | 21% p.a. (diminishing balance method) |
-
Muthoot Overdraft Scheme (MOS)
The Muthoot Overdraft Scheme or MOS is specially designed for traders, businessmen, pharmacists, petrol pump owners, shopkeepers, etc. This scheme places the gold as an “additional bank limit” to fund the growth of the respective businesses.
| Minimum Loan Amount | Rs.2 lakh |
| Maximum Loan Amount | Rs.50 lakh |
| Rate of Interest | 19% p.a. to 21% p.a. |
-
Muthoot Ultimate Loan (MUL)
The Muthoot Ultimate Loan or MUL are ideal for the individuals who are looking for a gold loan wherein they can avail maximum loan amount and also earn discounts by making timely payments of their monthly interests.
| Minimum Loan Amount | Rs.1,500 |
| Maximum Loan Amount | No upper limit |
| Rate of Interest | 24% p.a. |
-
One Percent Loan
The Muthoot One Percent Loan is meant for customers who are looking for a gold loan at lower interest rates.
| Minimum Loan Amount | Rs.1,500 |
| Maximum Loan Amount | Rs.50,000 |
| Rate of Interest | 12% p.a. |
-
Muthoot Delight Loan (MDL)
The Muthoot Delight Loan or MDL has been specially designed for borrowers who are looking for a loan amount of up to Rs.2 lakh and paying lower interest.
| Minimum Loan Amount | Rs.1,500 |
| Maximum Loan Amount | Rs.2 lakh |
| Rate of Interest | 26% p.a. – 27% p.a. |
-
Muthoot Premier Loan (MPL)
Muthoot Premier Loan or MPL is a gold loan scheme for borrowers who wish to avail loan amount starting at Rs.1 lakh for a tenure of 1 year.
Check Latest –
| Minimum Loan Amount | Rs.1 lakh |
| Maximum Loan Amount | No limit |
| Rate of Interest | 23% p.a. |
-
Muthoot Big Business Loans
This loan is for those who need capital to set up or expand their business. The repayment tenure offered is 1 year and the loan can be availed online also. You will also enjoy free insurance for gold ornaments pledged by you.
| Minimum Loan Amount | Rs.25 lakh |
| Maximum Loan Amount | Rs.5 crore |
| Rate of Interest | · Muthoot Big Business Loan Silver: 10.5% p.a.
· Muthoot Big Business Loan Platinum: 10.5% p.a. · Muthoot Big Business Loan Diamond: 10% p.a. · Muthoot Big Business Loan Elite: 9.84% p.a. |
Fees and Charges of Muthoot Finance gold loan
| Service charges on loan amount | 0.25% to 1% |
| Service charges on loan account | Rs.50 to Rs.1,500 per account (based on the type of scheme) |
| Token charges | · Rs.10 for loan amount of up to Rs.10,000;
· Rs.20 for loan amount exceeding Rs.10,000 |
| Security charges | 0.15% of the loan amount, subject to a maximum of Rs.600 and minimum of Rs.50 |
| SMS charges | South Indian branches – Rs.2 per transaction Rest of India – Rs.5 per transaction |
| Charges for lost token | Rs.25 |
| Notice charges | · South Indian branches – Rs.10 per ordinary notice (up to 3 notices) and 4th notice registered is Rs.70
· Rest of India – Rs.30 per ordinary notice (up to 3 notices), 4th notice registered is Rs.100, and auction notice charges being Rs.120 |
| Stamp duty | As per the applicable rates of the respective states |
| GCL | · Rs.999 per 6 months (in case the limit is not used over a tenure of 6 months)
· Part release charges of Rs.499 per transaction · Rs.99 if transaction is done through branches |
| Documentation Charges | · Rs.2500 for loan amount less than Rs.1 crore
· Rs.5000 for loan amounts of Rs.1 crore and above |
Muthoot Gold Loan Login Process
For all the transactions and payments in relation to Muthoot Finance, you can use the online platform as well.
- For existing users: If you have already set up the login credentials, you can follow the steps mentioned below:
- Visit Muthoot Finance officials website or app
- Fill in the fields with your ‘User Name’ and ‘Password’ and click on the ‘Login’ button.
- For new users: If you are a new user and yet to sign up, follow the steps mentioned below:
- Visit the online portal at Muthoot Finance officials website or app
- Click on the ‘New user? ‘Sign-up here’ option under the login field.
- You will be redirected to a new webpage wherein you will 2 options.
- Either click on the ‘Customer ID’ option
- Or the ‘Mobile Number’ option.
- On the basis of your selection, enter your ‘Customer ID’ or your registered ‘Mobile Number’.
- Click on the ‘Search’ option after that and follow the on-screen instructions to set up your login credentials.
FAQs on Muthoot Finance Gold Loan
- Should I have a third-party guarantor in order to avail the gold loan from Muthoot Finance?
No, there is no need to have a third-party/ external guarantor in order to avail the gold loan from Muthoot Finance.
- What is the minimum tenure for which I can avail a gold loan?
The minimum tenure for which you can avail a gold loan is 7 days.
- What is the maximum tenure for which I can avail a gold loan?
The maximum tenure for which you can avail a gold loan is 12 months for all the regular gold loan schemes and 36 months for the EMI based gold loan scheme.
4.What type of gold can I pledge with Muthoot Finance in order to avail the gold loan?
In order to avail a gold loan from Muthoot Finance, you can pledge any type of gold – in the form of ornaments/ jewellery, gold coins, etc. This includes Kardahs, necklaces, polka sets, rings, pendants, watches, bracelets, bangles, etc.
- Can I make a partial repayment of the gold loan amount?
Yes, you can make a partial payment towards principal of the gold loan along with interest payable, at any Muthoot Finance branch across India or pay online through the Muthoot Finance website.
- What is the mode of payment available to customers for the repayment of the gold loan?
You can repay the loan directly at a Muthoot Finance Branch via Cheque or cash. Demand Drafts, Credit Card or debit card transactions are not accepted at these branches.
- What is the discount available on prevailing interest rate upon regular repayment of gold loan under the Muthoot Super Loan (MSL) scheme, Muthoot Premier Loan (MPL) scheme and Muthoot Advantage Loan (MAL) scheme?
The rebates offered on interest rate of the gold loan availed under the Muthoot Super Loan (MSL) scheme, Muthoot Premier Loan (MPL) scheme and Muthoot Ultimate Loan (MUL) are as follows:
| Scheme | Rebate |
| Muthoot Super Loan (MSL) | 2% rebate if 100% interest paid on a monthly basis |
| Muthoot Premier Loan (MPL) | 3% rebate if 100% interest paid on a monthly basis |
| 2% rebate if 100% interest paid on a quarterly basis | |
| Muthoot Ultimate Loan (MUL) | 4% rebate if 100% interest is paid on a monthly basis. |
- Who all can avail a gold loan from Muthoot Finance?
Customers who are citizens of India can avail a gold loan from Muthoot Finance after providing their gold ornaments and a few necessary documents. In order to know more, kindly get in touch with any branch of Muthoot Finance.
Read Also – HDFC Bank Personal Loan Apply 2024 | Interest Rate, Apply Process & Processing Fees
