Muthoot Finance Gold Loan

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Rates as low as 1% p.m.
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Loan Amount Up to 1 Crore
Loan Tenure Up to 48 Months
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About Muthoot Finance Gold Loan

muthoot finance gold loanMuthoot Finance is one of the largest Gold Loan providing companies in India which was set up in 1939. Muthoot Finance Gold Loan is one of the leading products in the Industry. Muthoot Finance is a non-banking financial company, and it has 4400 branches all over India. Furthermore, The financial company has a good reputation, and the company is reliable too. Therefore, there is no risk of fraud at all. Muthoot finance also caters other financial products like personal loans, but a gold loan is the most famous product. So many people get a Gold Loan to overcome their financial crisis. Therefore, even you can avail the service of Gold Loan to overcome financial hurdles.

Muthoot Finance Gold Loan at a Glance
Interest RateStarts at 12%
Gold Loan Per GramStarts at ₹1970 varies depending on the purity of gold
Tenure7 days to 36 months
Processing Fee1%

Muthoot Finance Gold Loan Features

  1. The lower rate of interest.
  2. Quick processing.
  3. Your Gold is safe and secured in a bank locker.
  4. You can use the gold loan money for any personal purpose.
  5. Less documentation only, No CIBIL score.
  6. Furthermore, Flexible repayment options as well as lower monthly outflow.
  7. Beside that No processing fees.
  8. Low or no foreclosure charges.
  9. Bad credit history, not an issue.
  10. Instant Processing and Disbursal.
  11. Besides, You can borrow in thousands to a crore.

Muthoot Finance Gold Loan Interest Rate

In general loan on gold, the credit is available at a low interest rate. Moreover, the reason behind that the gold loan comes in the category of secured loans. So the gold loan interest rates are less than that of personal loan or any other kind of loans. Though the gold loan rate keeps on changing time to time as well as person to person.
  1. Muthoot Finance Gold Loan Interest Rate is 11.70% per annum
  2. Moreover, offer low processing fee that is  0.85%.
  3. Further, pre-closer charges range from  0–2 %.

What is Muthoot Finance Gold Loan?

To begin, Gold Loan is also known as a loan against gold. In this type of loan, you pledge your gold to the company and get a certain amount of money according to the value of your gold. The company keeps your gold under the security and whenever you return the loan you get back your gold as it is.
Read More – About Gold Loan

Why Muthoot Finance Gold Loan?

Emergency does not knock doors. Thus, You never know when you need money that is beyond your savings. So instead of asking for money from their relatives and your friends, people prefer to go for loans. And, one of the best options amongst these services is Gold Loan. The reason behind this is that Gold Loan Interest Rates are quite low in contrast to other services. Besides that, the bank does not charge anything from the customer as security charges for the security of the gold ornaments.

Muthoot Finance Gold Loan Amount can be use for:

  1. You can use this amount of loan to fulfill any of your personal need.
  2. The loan amount can be used for wedding purposes.
  3. Besides that, you can use this gold for education purposes.
  4. Furthermore, you can use this money for your business.
  5. Moreover, You can buy a car using this amount of loan.
  6. Muthoot Gold Loan allows you to use loan mount for medical purposes as well.

Muthoot Finance Gold Loan Features

  • The gold loan is approved very easily and disbursed quickly.
  • Muthoot finance charges very less processing fees for the gold loan.
  • The amount of gold loan starts from Rs. 18000 and can be up to 1 Crore.
  • Muthoot finance offers the facility of the pre-payment. It means that if you want to close your loan before the tenure of the loan than you can do so without any extra charges.
  • Response time for the queries of the customer is very quick.
  • Minimum tenure can be 15 months and can be up to 36 months.
  • Gold Loan Interest Rates charged by the Muthoot finance are very reasonable in comparison to the other banks. Therefore, the customer prefers only Muthoot finance over other banks.
  • There is a processing fee of 1% of the loan amount sanctioned.
  • The company provides three-layered security of the gold. The gold is kept very securely in the lockers.

Muthoot Finance Gold Loan Per Gram Rate

Muthoot provides Gold Loan starting from Rs. 50000 and can be up to 1 crore. The amount of gold loan depends upon the purity as well as the quantity of gold ornament. The loan amount per 10 grams, as well as Muthoot Gold Loan Rate per gram, are discussed below –

For 18 Carat Gold

  • Amount of Loan Disbursed- Rs. 16,000.
  • Loan Amount of Gold Per Gram – Rs. 1,600

For 19 Carat Gold

  • Amount of Loan Disbursed- Rs.17,000.
  • Loan Amount of Gold Per Gram- Rs.1,700.

For 20 Carat Gold

  • Amount of Loan Disbursed- Rs 18,000.
  • Loan Amount of Gold Per Gram- Rs 1,800.

For 21 Carat Gold

  • Amount of Loan Disbursed- Rs 19,000.
  • Loan Amount of Gold Per Gram- Rs 1,900.

For 22 Carat Gold

  • Amount of Loan Disbursed- Rs 20,800.
  • Loan Amount of Gold Per Gram- Rs 2,800.
Know More – Gold Loan Per Gram

Forms of Gold accept for Muthoot Gold Loan

Muthoot doesn’t consider every type of gold ornament for Gold Loan. There are some limitation.
  1. Firstly the purity of the gold ornament should lie in between 18 Karats to 22 Karats.
  2. After that, the bank accepts the gold in the form of ornament.
  3. Besides, that bank refused to take the raw gold for Gold loan.
  4. Furthermore, you can get a gold loan by using gold coins that weigh less than Grams.
Eligibility Required for Muthoot Finance Gold Loan
  1. First of all the applicant should be an Indian citizen.
  2. Secondly, age limit minimum – 18 year and maximum – 70 years.
  3. Thirdly An applicant should own his/her gold
  4. After that, the purity of the gold ornament should lie in between 18 Karats to 22 Karats.
  5. Furthermore, the applicant should have gold weigh more than 10 Grams at least.

Muthoot Gold Loan Documentation

However, the process of documentation in a loan on gold is very easy and simple but, still, there are certain documents that a bank asks for a loan on gold:
  • Identity Proof – Firstly one proof of identity is required. Anyone of the given proofs is valid (Aadhar Card/Voters Card/Driving License/ Passport)
  • Residence Proof – After that, one proof of residence is also required to get a loan on gold. It can be like (Aadhar Card/PAN Card/Ration Card/ Electricity Bill of last three months with the name of the applicant/ Telephone Bill of previous three months with the name of applicant / Passport Copy)
  • Besides, the applicant should have two passports sized colored photographs.

Charges for availaing Muthoot Finance Gold Loan

  1. Processing Fees: Muthoot charges a minimal amount of processing fees to the customers, but it can be a maximum of 1% of the amount of the loan sanctioned.
  2. Foreclosure Charges: There are no foreclosure charges in Muthoot Finance Gold Loan; however other banks charge foreclosure charges.
  3. Quality of the Gold: The gold that you are pledging should be of 18 to 20 carats. Gold of quality 24 carats is not accepted.

Loan Amount of Muthoot Finance Gold Loan?

The amount of loan provided to you by the company is depending on the value of your gold. The company gives you the loan after the valuation of the gold. Generally, you get Rs. 18000 to Rs. 20000 for 10 grams of gold. It may vary a little bit up or down. It is 75% LTV ratio (Loan to Value).

How to Apply for Muthoot Gold Loan?

Online Process

You can apply for Muthoot Gold Loan Online. The process of application is very easy as well as simple.
  • Firstly, visit our website that is Dialabank
  • Secondly, the applicant has to fill a form Online which involve necessary information.
  • After this, you will get a call back from our Relationship Manager to clear all doubts as well as to assist you in the entire process of the Gold Loan.
  • Next, the applicant can check his /her eligibility for further clarification of the approval of a gold loan.
  • Moreover, Submit all the documents need as proofs in the bank.
  • Gold loan is approved in some minutes and disbursed within a day.
  • Lastly,  call us directly for any quires at 9592046860, to clear any doubts.

Offline Process

The applicant also has an option to avail a Muthoot Gold Loan from the nearby branches. To do so, search Gold Loan near me on google. It will enlist all the nearby branches from where you can avail the loan.
Then, you will have to visit again and again until the loan approval. Thus, it can be a very tiring and time-consuming process.
You can avail loan from Muthoot Gold Loan branches as well as to find a branch that is nearby, search Muthoot Gold Loan near me. Google will enlist all the Muthoot Gold Loan Branches near you.

Why Dialabank to avail Muthoot Gold Loan?

  • First of all, Dialabank is the first financial helpline of India.
  • Secondly, You will get a comparison of the rates of interest of all the financial companies here.
  • Besides that, you will get a document pickup facility from your doorstep if you apply for the loan here.
  • Moreover, The process of approval of the loan is very quick.
  • Furthermore, you will get a quick response to the customer’s inquiry.
  • Also, There are no charges for the information and applying for the loan.
  • Finally, For more information, you may call on 60011600 or 95920-46860.

Muthoot Gold Loan Calculator

Muthoot Finance provides a gold loan calculator to make the calculations easier. On the online gold loan EMI calculator, you can calculate the rate of interest on the required amount of loan for a particular time. So it makes it more accessible for the customer to get an overview of the interest rate of the whole tenure. And according to one’s comfort, one can make the changes in the amount of loan and the mandate of the loan. In the online gold loan EMI calculator, you have to fill in the following information. And, you will get all the calculations done automatically. Click Below to do so. Click Here  EMI CALCULATOR

Which is better between a Gold Loan and a Personal Loan?

1. The rate of Interest – The rates of interest are quite low in a Gold Loan. On the other hand Personal loan generally comes with high rates of interest
2. Type of Loan – Gold loan comes in the category of secured loan, and personal loan is an unsecured loan.
3. Amount of Loan – The amount of Gold Loan as per the value of gold ornaments. In the case of Personal Loan amount of loan based on your income, it is not that big in general because it is an unsecured loan.
4. Time of Disbursal – In the case of Gold Loan the amount of loan gets disbursed very quickly, within a few hours. On the other hand, the process of disbursal of the loan amount is not that quick. It will take at least a day or two days to get the loan amount to be disbursed.

FAQs About Muthoot Gold Loan

1. How to get a gold loan from Muthoot finance?

To avail Muthoot finance Gold loan is very simple you have to click here fill the form, and we are here you to help you.

2. How does Muthoot Gold Loan work?

Gold Loan is very simple to understand. Muthoot provides you with funds against your gold ornament. The amount depends upon the gold weight.

3. Is Gold Loan Unsecured?

No, the gold loan is not an unsecured loan. It comes in the category of secured loan. Gold Loan is also known as a loan against gold. In this loan, we get a loan amount against our gold ornaments. Furthermore, If the borrower fails to return the gold loan on time. Then the bank makes a recovery from your gold ornaments submitted.

4. Similarities between Gold Loan and a Personal Loan.

There is a similarity in between gold loan and a personal loan that you can use the amount of gold loan and personal loan to fulfill our own needs. The lender will not put any restriction on the use of the amount of loan.

5. What happens when you don’t repay a Muthoot Gold Loan?

If the applicant is unable to return the gold loan on fixed time, then the NBFC’s is liable to sell his gold jewelry.

6. To get a Muthoot gold loan do I need a co-applicant?

No, to avail Muthoot Gold loan you don’t need any co-applicant

7. Is Gold loan better than a Personal loan?

Yes, a Gold loan is better than personal Loan because in Gold Loan banks/NBFC’s takes Gold ornament as well as a gold coin as collateral and in case of Personal loan it is un-secured and hence carries higher interest than a gold loan.

8. What is the best online platform to avail gold loan?

Dialabank is the best platform to get a loan. Dialabank provides you hassle-free process as well as the lowest interest rate in the market as compared to others.

9. Is there any fee payable for the Muthoot Gold Loan?

Yes, Applicant have to pay the loan processing fee and Valuation fee.

10. How much interest on a Gold Loan in Muthoot finance?

If you apply through Dialabank, we provide you lowest interest rate as compared to others. Muthoot Finance gold loan is available at 1% PM interest rate.

11. How to pay Muthoot Gold Loan?

A person can easily and quickly avail Gold loan but also pay it through our multiple payment options. You can repay your gold loan through various options: Online Payment, Payment from app as well as Payment at branch.

12. How to pay Muthoot Gold Loan interest online?

Gold Loan is the best option for you as it provides you quick disbursals and instant approval. Processing of Gold Loan is very easy for everyone. There are different repayment methods in Gold Loan, and some of them are – Pay Interest as EMI & Principal later, Make Partial Payments, Bullet Repayments and Regular EMI option

13. Does CIBIL Score Matter in Muthoot Gold Loan?

No, the Muthoot do not check the CIBIL Score of a person to approve a gold loan. Gold Loan is a secured service. Hence, the bank is not concerned about the repayment history of a person. Because, even if the applicant fails to repay the loan, the banks can cover the loan amount through the gold ornaments that they have in their possession.
* For any assistance regarding Gold Loan, call us on 95920-46860, our trained Relationship Managers will solve all your queries.

14. How much Gold Loan can I get per gram in Muthoot Finance?

The per gram Gold Loan amount in Muthoot Finance varies according to the purity of your pledged gold and current market gold rates. On average, this loan amount starts at ₹1970 for 1 gram of gold.

15. What is Muthoot Finance Gold Loan?

Muthoot Finance is the largest gold loan financing company in the world. Muthoot Finance Gold Loan is a lending scheme that lets you borrow money in exchange of your gold ornaments. It is a loan that is secured by and sanctioned against your pledged gold.

16. What is the Gold Loan interest rate in Muthoot Finance?

Muthoot Finance Gold Loan interest rates start at 14% per annum and depending upon the scheme availed, purity of your gold, loan amount disbursed, and tenure this rate of interest varies between 12% and 26% per annum. There is not upper limit to the amount of Gold Loan a person can avail. The tenure period is for a minimum of 7 days and a maximum of 36 months.

17. How to pay Muthoot Finance Gold Loan online?

You can make online payments for your Muthoot Finance Gold Loan through net banking and debit cards on their online portal. You can also use your Paytm account to make these payments.

18. How to apply Gold Loan in Muthoot Finance?

Muthoot Finance is the largest gold loan financing company in the world. With Muthoot Finance you can avail a loan of any amount based upon the purity and weight of your gold. It provides same-day disbursement and different schemes that are tailor-made for all your financial needs. Simply walk into the nearest Muthoot Finance branch along with your gold and KYC documents.

19. How to renew Muthoot Finance Gold Loan online?

Renew your Muthoot Finance Gold Loan by simply visiting the nearest branch. The Gold submitted will be revalued and new loan terms will be decided based on the same. You will then submit a renewal form and once everything is processed a small renewal fee will be charged for your loan to be renewed for a new tenure.

20. How to take Gold Loan from Muthoot Finance?

Gold Loan and Muthoot Finance go hand in hand, they are the global leaders in the Gold Loan market. The Gold Loan process in Muthoot Finance is very easy and comes with same day disbursement. You simply have to visit the nearest branch with your gold and basic documents. You can alternatively apply with Dialabank and get the lowest rates and offers along with personalized assistance.

21. What is Gold Loan in Muthoot Finance?

Muthoot Finance’s Gold Loan portfolio is the largest in the world. They have served more than 2 lakhs people with their Gold Loan services. Gold Loan is a prominent product of Muthoot Finance through which you can avail a loan of up to 75% of your gold’s market value. The minimum tenure is of 7 days and you can avail a maximum of 36 months loan tenure with Muthoot Finance.

22. How to get Muthoot Finance Gold Loan?

Muthoot Finance is the largest Gold Loan provider in India. You can easily get a Muthoot Finance Gold Loan by visiting the nearest branch with your gold and get same-day disbursement. You can also apply online at Dialabank to avail the best deals and offers and get personalized assistance.

23. How to check Muthoot Finance Gold Loan status?

You can check your Muthoot Finance Gold Loan status by login on to their online portal or simply by giving a call on their toll-free number, 1800 – 313 – 1212

24. How to close Muthoot Finance Gold Loan?

You can close your Muthoot Finance Gold Loan by visiting the nearest Muthoot Finance branch along with your loan documents. Your loan account will be checked for any overdue amount or pending charges as applicable. Once cleared the loan closure process will be carried out and your gold will be returned back to you.

25. How to renew Muthoot Finance Gold Loan?

Muthoot Finance lets you renew your Gold Loan during or at the end of your current tenure. The new loan terms are decided after a revaluation process of your pledged gold and submission of any renewal fee as applicable.

26. What happens if someone defaults Muthoot Finance Gold Loan?

Defaulting on your Muthoot Finance Gold Loan will prompt the company to send you reminders of your pending dues. If the payment requests go unheard a legal notice will be sent demanding the repayment. Defaulting will brand your loan with an NPA tag and gives the company the right to recover the amount through the sale of your pledged asset, that is, your gold ornaments. You can also face strict action under the law.

27. How many branches of Muthoot Finance Gold Loan?

Muthoot Finance is the largest gold financing company in the world. They have more than 4500 branches spread across India that provide Gold Loan services to help you meet all your urgent financial needs.

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