Muthoot Finance Gold Loan

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Rates as low as 1% p.m.
Get Money in 30 Mins
Loan Amount Up to 1 Crore
Loan Tenure Up to 48 Months
Unbiased Experts Advice

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 commercial 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 popular 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.

  • Interest Rate Starts at 12%
  • Loan Per Gram From Rs. 2,472 to Rs. 3,023
  • Tenure Up to 36 months
  • Processing Fee Up to 1% + GST

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, then you can do so without any extra charges.
  • Response time for the queries of the customer is speedy.
  • 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.

Why Choose Muthoot Finance Gold Loan?

Emergency does not knock doors. Thus, You never know when you need the 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.

Advantages of Muthoot Finance Gold Loan 

  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. You can borrow in thousands to a crore.

Muthoot Finance Gold Loan Eligibility

  1. The Applicant should be an Indian citizen.
  2. Age limit minimum – 18 year and maximum – 70 years.
  3. An applicant should own his/her Gold.
  4. The purity of the gold ornament should lie in between 18 Karats to 22 Karats.
  5. The Applicant should have Gold weigh more than 10 Grams at least.

Muthoot Gold Loan Documents Required

Gold Loan or Loan Against Gold is a loan product offered to the borrowers by the Bajaj Finance wherein funds are provided for fulfilling the financial needs of the applicant. The gold ornaments of the applicant are kept as security by the bank in exchange for the funds. The entire Bajaj Finance Gold Loan process is hassle-free and easy to get with minimal documentation. The bank ensures high security of your gold ornaments till the loan is closed.

Documents required for Applying for Bajaj Finance Gold Loan are :

A duly filled and signed Gold Loan application form shall be submitted along with the following documents:

  1. 2 latest passport-sized photographs
  2. Basic KYC documents :
    Identity Proof (Only one is required): Aadhar Card, Pan Card, Passport, Voter ID, and etc.
    Residence Proof (Only one is required): Aadhar Card, Pan Card, Voter ID, Ration Card, Electricity or Water Bills in the name of the applicant, or Rental Agreement(In case you live in a rented house).
  3. Agricultural Land Proof and Income Statement of the applicant have required in the case the applicant wants the Bajaj Finance Gold Loan for Agricultural purposes.
  4. If you are an existing customer of the bank you may not be required to submit any documents as the bank will already have your verified details.
Applicant Address Verification Proof can be amongst the below documents(ANY):
  1. Passport: Valid Copy of passport both front and last page
  2. Voters ID card: Copy of Valid Voter Identity Card
  3. Driving License: Copy of Driving license which is valid.
  4. Adhar card: Copy of Adhar Card with current information
  5. Utility Bills on the name of the applicant.
  6. Sales Tax Certificate
  7. Rental Agreement
Signature Verification Documents required are namely:
  1. Valid Copy Passport
  2. Bank’s Verification Certificate
  3. Cheque

**Any other documents as requested by the bank needs to be duly submitted.**

gold loan at 1%

Muthoot Finance Gold Loan Interest Rate, Fees:

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 a 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. 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.
  3. Foreclosure Charges: There are no foreclosure charges in Muthoot Finance Gold Loan; however, other banks charge foreclosure charges.
  4. 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.

Muthoot Finance Gold Loan Rate Per Gram

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.

How to Apply for Muthoot Gold Loan?

Online Process

You can apply for Muthoot Gold Loan Online. The process of application is straightforward, as well as simple.

  • Visit our website, Dialabank.
  • The Applicant has to fill a form Online which involve necessary information.
  • 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.
  • The Applicant can check his /her eligibility for further clarification of the approval of a gold loan.
  • Submit all the documents need as proofs in the bank.
  • Gold loan is approved in some minutes and disbursed within a day.
  • Call us directly for any queries 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 neighbouring departments 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 an office that is nearby, search Muthoot Gold Loan near me. Google will enlist all the Muthoot Gold Loan Branches near you.

Know More –  Five mistakes to avoid while applying for a Gold Loan

Muthoot Finance Gold Loan EMI Calculator

How to Pay Your Muthoot Finance Gold Loan EMI?

Your Muthoot Finance gold advance can be reimbursed in the following three different ways.

  1. Standing Instruction (SI): If you are a current record holder with Muthoot Finance, Standing Instruction is the best method of r repayment. Your EMI sum will be charged automatically toward the finish of the month to month cycle from the Muthoot Finance account you indicate.
  2. Electronic Clearing Service (ECS): This mode can be utilized if you have a non-Muthoot Finance account and might want your EMIs to be charged consequently toward the finish of the month to month cycle from this record.
  3. Post-Dated Checks (PDC): You can submit post-dated EMI checks from a non-Muthoot Finance account at your closest Muthoot Finance Loan Center. A new arrangement of PDCs should be presented promptly. It will be ideal if you note Post Dated Checks will be gathered non-ECS areas as it were.

Gold Ornaments accepted by Muthoot Finance

Muthoot Finance doesn’t consider every type of gold ornament for Gold Loan. There are some limitations.

  1. The purity of the gold ornament should lie in between 18 Karats to 22 Karats.
  2. The bank accepts the Gold in the form of ornament.
  3. That bank refuses to take raw Gold for a Gold loan.
  4. You can get a gold loan by using gold coins that weigh less than Grams.

Uses of Muthoot Finance Gold Loan:

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

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 unsecured. 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 fulfil our own needs. The lender will not put any restriction on the use of the amount of investment.

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

If the Applicant is unable to return the gold loan at the end of the loan period, then the NBFC’s is liable to sell his gold jewellery.

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 a 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 unsecured 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, the Applicant has 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 with the 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 the app as well as Payment at the branch.

12. How to pay Muthoot Gold Loan interest online?

Gold Loan is the best option for you as it provides you with 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 the 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 for 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 no 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 for Gold Loan with 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 merely visiting the nearest branch. The Gold submitted will be revalued, and new loan terms will be decided based on the same. You will then provide 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 straightforward 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 quickly 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 by merely 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 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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