About Manappuram Gold Loan
Gold is one of the most acknowledged metals in our country. Thus, a sizeable majority of people own ornaments of gold. Over the past decade, the people not only buy gold as a tradition but also to keep it as security which they can exchange or pledge in the times of need this is the reason why the service of Gold Loan is the fastest growing amongst the other financial products.
Manappuram Finance Ltd or MAFIL is a Non-Banking Finance Company in India which was set up in 1949. Some of the financial products of this company are namely, Gold Loans, Money Transfers, SME Finance, and Commercial Vehicle Loans. Furthermore, this company is serving people for the last 71 years, so there is no risk of fraud. Also, Manappuram Finance has more than 3200 branches all over the country. Manappuram Finance provides a gold loan at a very low rate of interest. Also, the customer can also avail a Gold Loan through Manappuram Gold Loan App to avail more convenient service.
|Manappuram Gold Loan at a Glance|
|Interest Rate||Starts at 14%|
|Gold Loan Per Gram||Starts at ₹1750 depending on the purity of gold|
|Tenure||Up to 12 months|
What is Manappuram Gold Loan?
Manappuram Gold Loan is a service in which gold ornaments are used as collateral in return of loan amount. Manappuram Gold Loan Interest Rates are low in comparison to other services like personal loan, as it is a secured service. Also, this loan is provided for a given tenure, which means if the applicant is not able to repay the loan in that preset period. Then, the gold ornaments kept with the lending institution are confiscated .
Why Manappuram Gold Loan?
Gold loan is the best way to get over your financial crisis. If you are going through any financial problem then, you can make use of your gold jewelry as it is better than asking for money from your relatives and friends. The amount that you get in Manappuram Gold Loan can be used in any of personal uses. It can provide you with good financial support in your bad times.
Know More – Best Gold Loan Services
Use of Manappuram Gold Loan
- You can use this amount of loan to fulfill any of your personal need.
- The loan amount can be used for wedding purposes.
- Besides that, you can use this gold for education purposes.
- Furthermore, you can use this money for your business.
- Moreover, You can buy a car using this amount of loan.
- Also, Manappuram Gold Loan allows you to use loan mount for medical purposes as well.
Features of Manappuram Gold Loan
There are some features of Manappuram gold loan.
- First of all, Manappuram Gold Loan Interest Rate is very low and reasonable in contrast to other services this is the reason why most of the customers prefer this service.
- After that, the documentation process is very easy. Less documentation is required in Manappuram gold loan.
- It only consists of one ID proof, one residence proof(Aadhaar card etc.) and two passport size photographs.
- Furthermore, you can check the specific document requirements on Manappuram Gold App as well.
- Besides that, if you fulfill the eligibility criteria of Manappuram Gold Loan then, it is disbursed very quickly that is in a day.
- Finally, Manappuram gold loan provides an amount which is as high as Rupees 1 Crore.
Manappuram Gold Loan Rate Per Gram
- First and foremost, the gold should be in the name of the applicant or family member.
- Secondly, the applicant should be a resident of India.
- Thirdly, The age should lie in between 18-70 years group.
- Next, the minimum quantity of gold should be 10 grams. And, the purity should range between 18 Carat to 22 Carat. Hence, the amount of Manappuram Gold Loan Per Gram is approximately Rupees 1800. Also, Manappuram Gold Loan Per Gram can vary according to the quality of the gold.
Manappuram Gold Loan Interest Rate
Manappuram Gold Loan Interest Rate starts from 12%. Thus a lot of people avail of this service. The rate of interest starts from 12% because of its high LTV (loan to value) ratio. The maximum rate of interest can go up to 26% per annum.
In case you miss your payment 3% interest rate more will be charged from you. For example, if the rate of interest of your gold loan is 12% and you miss the monthly payment of your gold loan, then you have to pay 15% interest rate for that month.
Besides this, the interest rate can vary from time to time. And you can check the changes in Manappuram Gold Loan Interest Rates very quickly as the company provides a Manappuram Gold App depicting the changes made by the company.
Re-payment of Manappuram Gold Loan
Manappuram provides good repayment schemes to the customers availing a gold loan. There are three ways of repaying the loan amount, that is, Term Loan, EMI, and Overdraft facility. You can check about how to pay manappuram gold loan online.
- Term Loan: In this repayment scheme, the applicant has to pay only the interest rate during the loan tenure. After the completion of the loan period, the applicant has to pay the principal amount of the loan.
- EMI Facility: In EMI option, the applicant has to pay a fixed amount that consists of both interest rate and a part of the principal amount for the entire tenure of the loan.
- Overdraft Facility: This is a facility in which the applicant can enjoy liquidity anytime. That is, the applicant has to pay the rate of interest only for the amount that he has used from the total disbursed amount.
Also, the company provides the customers with a facility of Manappuram Online Payment. Through which, you can pay the amount at the comfort of your home.
Documents Requried for Manappuram Gold Loan
- Firstly, Identity Proof is required. It can be an Aadhar Card/ Voter ID card/ PAN Card/Driving License/ passport.
- A valid passport. – Your passport can fall under the category of both identity proof and residence proof while applying for Manappuram Gold Loan. It contains your details such as your name, age, address, and photograph.
- Thirdly, Aadhaar card. – Aadhaar card can be proof of residence and identity proof. Your Aadhar card holds necessary information like identity and residence proof.
- Next, Voter’s ID card – Our voter/election card contains our necessary details. A Voter ID card is one of our essential documents which help us while applying for Manappuram Gold Loan.
- Also, PAN card – Permanent Account Number is an important KYC (Know Your Customer) document while applying for Manappuram Gold Loan.
- Lastly, Two Passport sized colored photographs. (Applicant should not be wearing glasses)
Quality of Gold Required for Gold Loan
- To begin, The quality of your gold should be 18 carats to 22 carats. The gold of 24 carats is not accepted.
- Next, Manappuram accepts all types of gold jewelry.
- Also, Minted coins are not accepted.
- Furthermore, You should have a minimum of 10 grams of gold.
- Also, you cannot get a gold loan on raw gold.
- Lastly, Gold bricks are also not accepted.
Know More – What is CIBIL Score?
Manappuram Gold Loan Amount
The amount of loan that you get from the Manappuram in a gold loan depends on the quality and quantity of the gold. The maximum you can get is Rs. 20000 on 10 grams. That further means, the amount of Manappuram Gold Loan per gram is approximately Rupees 2000. However, it depends on the LTV ratio of your gold. Lending institutions provide an evaluator that examines the quality and quantity of the gold ornaments.
Manappuram Gold Loan Eligibility
Gold Loan is a financial product provided by Manappuram which caters to your needs of short term or long term funds. It is easy to avail financial service provided by Manappuram at low rates of interest and also requires minimal documentation for the same. Manappuram gives you the Loan amount within an hour of application as the valuation and approval process is quickly done keeping in mind your urgency regarding the need for funds.
Major Eligibility criteria for availing the Gold Loan is:
- The applicant should be a permanent Indian citizen who is at least 18 years of age and not more than 70 years (In most cases).
- The applicant should be the rightful owner of the Gold that he/she wishes to pledge with the bank.
- The Minimum weight of Gold that can be pledged is 10 grams and the applicant becomes ineligible for Gold Loan if he/she has less than 10 grams of gold.
- The Minimum purity of Gold required to be eligible for Loan is 18 carats. Also, Gold coins issued by banks are accepted up to 50 grams (In most cases).
- 24 Carat Gold in any form, Gold bars, Gold biscuits, and etc. are not recognised as valid forms of Gold to be kept as security for the Gold Loan.
- A good Credit or CIBIL score is not required to apply for the Gold Loan as it is a fully secured financial service against your Gold as collateral security.
How to Apply for Manappuram Gold Loan?
There are two ways to apply for Manappuram Gold Loan:
Manappuram Gold Loan Online
You can apply for Manappuram gold loan online. The process of application is very easy and simple. There are a few steps to apply for the gold loan.
- To begin with, visit our website that is Dialabank
- Next, the loan seeker has to fill a form Online with current information.
- After this, you will get a call from our Relationship Manager to clear all doubts and to assist you in the entire process of the loan.
- Then, you can check your eligibility for further clarification of the approval of a loan.
- Furthermore, submit all the documents required as proof in the bank.
- Finally, the loan is approved in some minutes and disbursed within a day.
- Lastly, you can also directly call us at 9592046860, to clear any doubts.
You can avail a gold loan from Manappuram Gold Loan Branches. To find a branch that is nearby, search Manppuram Gold Loan near me. Google will enlist all the Manappuram Gold Loan Branches near you.
- Dialabank is India’s first financial helpline.
- You will get all the information without any charges here.
- Besides that, your gold loan will be approved and disbursed very quickly.
- Dialabank provides its services all over India.
- Customer response is very quick on dialabank.com. You will get a call back within the 5 minutes after filling the form.
- For more information, you may call on 60011600.
- Dialabank provides the document pickup facility from your doorstep.
- The process of applying for the loan is very easy and hassle-free.
- For any assistance regarding Manappuram Gold Loan; Call us on 60011600, our trained Relationship Managers will provide you with the best information.
Know More – Gold Loan and Loan Against Property
Gold Loan VS. Personal Loan
- Firstly you get at least 75% of their actual gold value as a Gold Loan amount.
- Secondly, Gold loan application takes only 1-day processing time and an hour to disburse.
- Thirdly, on Gold Loan customer can repay the loan before time with no foreclosure charge
- Also, you get lower or in some cases no processing fees
- Likewise, a borrower with low credit score/CIBIL can even get Gold Loan
- Similarly, bank give loan amount by your Gold purity
- Therefore a borrower with low credit score/CIBIL can also get Gold Loan
FAQs About Manappuram Gold Loan
1. How much Gold Loan can I get per gram in Manappuram?
Gold Loan amount per gram of gold in Manappuram starts at ₹1750. This amount varies depending on the purity of your pledged gold. You can avail a Gold Loan amount of up to 1.5 crores.
2. What is Manappuram Gold Loan?
Manappuram provides loans against gold ornaments within minutes. You can avail a maximum loan amount of 1.5 crores depending on the weight and purity of your gold. They provide a number of different schemes based upon your needs.
3. What is the Gold Loan interest rate in Manappuram?
Manappuram Gold Loan interest rates start at 14% per annum with a maximum effective rate of 29% per annum. The interest rate in Manappuram depends on the purity of your gold, the loan amount tendered, LTV ratio, and tenure of the loan.
4. How to pay Manappuram Gold Loan online?
You can pay for your Manappuram Gold Loan at Manappuram’s online payment portal by using net banking, debit cards, or through your Paytm account using Paytm Wallet or UPI.
5. How to apply Gold Loan in Manappuram?
Manappuram provides Gold Loans that can fulfill all your financial needs, tailored according to your desires Manappuram provides a number of Gold Loan Schemes. You can apply for Manappuram Gold Loan by visiting the nearest branch with your gold or through Dialabank’s digital portal that provides you with personalized assistance and helps you avail the best offers and deals.
6. How to renew Manappuram Gold Loan online?
You can renew your Manappuram Gold Loan by visiting the nearest branch. You will be required to pay all the overdue amounts and fill out a form for the renewal of your Gold Loan. Your gold will be revalued according to the updated market rates and upon paying a renewal fee your Gold Loan will be renewed. You can also renew your Manappuram Gold Loan online through their online portal.
7. How to take Gold Loan from Manappuram?
Gold Loan is one of the prominent loan products in India and Manappuram is one of the leaders in the race. You can take a Gold Loan of up to 1.5 crores from Manappuram with instant approval and disbursement within an hour. You simply have to visit the nearest branch with your gold and basic documents and avail the scheme that suits you the best. Alternatively, you can apply with Dialabank and compare offers and interest rates of different banking and non-banking financial companies.
8. What is Gold Loan in Manappuram?
Gold Loan is the prominent product of Manappuram through which you can get a loan against your gold ornaments. Manappuram has tailor-made Gold Loan schemes to cater to your financial needs. It comes with instant approval and attractive features.
9. How to get Manappuram Gold Loan?
Manappuram is a well-established name in the Gold Loan market that provides instant Gold Loans with quick disbursement to fulfill all your financial needs. You can easily get a Manappuram Gold Loan by visiting the nearest branch with your gold ornaments or you can apply online at Dialabank from the comfort of your home to avail personalized assistance, lower rates, and the best deals.
10. How to check Manappuram Gold Loan status?
You can visit the Manappuram Customer eService Portal and login to keep yourself updated on all the details regarding your Gold Loan. You can also download the Manappuram OGL app to avail these services at your fingertips.
11. How to close Manappuram Gold Loan?
To close your Manappuram Gold Loan you will first have to clear all your pending dues and then apply for a loan closure either by visiting the branch or through their online portal and mobile app.
12. How to renew Manappuram Gold Loan?
Renew your Manappuram Gold Loan by visiting the nearest branch or through their mobile app. You will be required to first pay all your overdue amount and close your existing loan before the terms and condition for new tenure are updated based upon the current market rates.
13. What happens if someone defaults Manappuram Gold Loan?
Defaulting on your Gold Loan can make you liable to face legal actions by Manappuram. If the full repayment of the loan along with interest and charges is not made within the period of the loan or within any such period as demanded by the Company, the Company will have the right to sell or dispose of the Gold through public auction at the risk and cost of the Borrower.
14. How many branches of Manappuram Gold Loan?
Manappuram has more than 4190 branches all over India through which you can fulfill your instant monetary needs. You can also visit Dialabank’s digital platform and apply online from the convenience of your home.
Table of Contents
- 1 About Manappuram Gold Loan
- 2 What is Manappuram Gold Loan?
- 3 Why Manappuram Gold Loan?
- 4 Use of Manappuram Gold Loan
- 5 Features of Manappuram Gold Loan
- 6 Manappuram Gold Loan Rate Per Gram
- 7 Manappuram Gold Loan Interest Rate
- 8 Re-payment of Manappuram Gold Loan
- 9 Documents Requried for Manappuram Gold Loan
- 10 Quality of Gold Required for Gold Loan
- 11 Manappuram Gold Loan Amount
- 12 Manappuram Gold Loan Eligibility
- 13 How to Apply for Manappuram Gold Loan?
- 14 Why Dialabank?
- 15 Gold Loan VS. Personal Loan
- 16 FAQs About Manappuram Gold Loan
- 16.1 1. How much Gold Loan can I get per gram in Manappuram?
- 16.2 2. What is Manappuram Gold Loan?
- 16.3 3. What is the Gold Loan interest rate in Manappuram?
- 16.4 4. How to pay Manappuram Gold Loan online?
- 16.5 5. How to apply Gold Loan in Manappuram?
- 16.6 6. How to renew Manappuram Gold Loan online?
- 16.7 7. How to take Gold Loan from Manappuram?
- 16.8 8. What is Gold Loan in Manappuram?
- 16.9 9. How to get Manappuram Gold Loan?
- 16.10 10. How to check Manappuram Gold Loan status?
- 16.11 11. How to close Manappuram Gold Loan?
- 16.12 12. How to renew Manappuram Gold Loan?
- 16.13 13. What happens if someone defaults Manappuram Gold Loan?
- 16.14 14. How many branches of Manappuram Gold Loan?