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Muthoot Fincorp Ltd. Gold Loan Eligibility Calculator

Muthoot Fincorp Ltd. Gold Loan Per Gram

Last Updated 14th Feb 2022
Eligibility Criteria Muthoot Fincorp Ltd. Gold Loan Eligibility
Muthoot Fincorp Ltd. Gold Loan per gram ₹ 2,672 to ₹ 3,266 depending on the purity of gold
Age of Borrower 21 - 65 years
Maximum Loan Amount ₹ 8 Lakh
  • Muthoot calculates the amount of gold loan you are eligible for based on the amount of gold you have, the value of gold per gram and the gold’s purity.
  • Muthoot Fincorp Ltd. offers a maximum LTV of up to 100% of gold’s market value.
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Muthoot Fincorp Ltd. Gold Loan Eligibility

Muthoot Fincorp Ltd. gold loan per gram gives you an estimate of the loan amount you can get against your gold jewellery. You will get the loan based on the purity and gold price of your jewellery adjusted for a loan to value ratio. Muthoot gold loan per gram eligibility depends upon the purity of the gold, your age and gold quantity.

As per the latest gold prices, Muthoot offers a gold loan per gram of ₹ 2,672 to ₹ 3,266. Highest Muthoot gold loan rate per gram today is ₹ 3,266 for 22 carat jewellery calculated at a maximum LTV of 100% and the average gold loan price of the last 30 days in 2022 is ₹ 4,838 of 22 carat.

Gold Loan Calculator Muthoot

You can calculate the eligibility for a gold loan using an online Muthoot Fincorp Ltd. Gold Loan Calculator. The calculator determines Muthoot Fincorp Ltd. Gold Loan Per Gram Eligibility based on factors mentioned below:

  • Purity and net weight of gold used in jewellery: Muthoot uses their in-house valuer to assess the purity and net weight of gold of your jewellery. Gold used in the jewellery should be of purity of 18 to 24 carats. Muthoot can also reduce the weight of gems and stones from the jewellery to calculate the net weight of jewellery.
  • Price of gold: Once the valuer estimates the purity and net weight of gold in your jewellery, Muthoot will multiply it with the past 30 days average price of 22 carat gold to calculate the value of gold. So, if the gold is of 20 carat purity, Muthoot will apply the 30 days average of 22 carat gold multiplied by a factor of 20/22 to adjust the value of gold.
  • Loan to Value Ratio: Once the value of jewellery is calculated, Muthoot will apply an LTV of up to 100% to calculate your jewel loan amount eligibility. If you are willing to take a loan amount lower than your maximum LTV, Muthoot may offer you a lower interest rate.

How to Check Muthoot Fincorp Ltd. Gold Loan Eligibility?

To check Muthoot Fincorp Ltd. gold loan eligibility you can fill out the gold loan eligibility calculator form with all details at MyLoanCare. Here are steps to check your Muthoot gold loan eligibility:

  • Visit MyLoanCare and gold loan tab. .
  • Enter required details such as Name, Mobile Number, Loan Amount Required, Weight of Gold and Email ID.
  • Click on Check Eligibility.
  • Complete OTP authentication and you can view the best offers based on your eligibility. 

You can also check Muthoot gold loan eligibility on Muthoot's website or contact the bank by calling on their customer care number.

Muthoot Fincorp Ltd. Gold Loan Rate Per Gram by Gold Purity

Muthoot gold loan eligibility is dependent on the purity of gold jewellery that you have. The following table gives an approximate estimate of the gold loan per gram Muthoot will offer against gold jewellery of different purity levels at a maximum LTV of 75% and lower LTV of 65%.

Gold Purity Gold rate per gram- average of past 30 days Muthoot best Gold Loan per gram Muthoot lowest Gold Loan per gram
22 carat₹ 48,378₹ 3,266₹ 2,830
20 carat₹ 43,980₹ 3,266₹ 2,573
18 carat₹ 39,582₹ 2,672₹ 2,316

The above table shows how Muthoot will calculate your per gram gold loan for gold of varying purity.

  • Gold loan per gram in Muthoot Bank offer for 22 carat jewellery will be between ₹ 2,830 to ₹ 3,266
  • Muthoot Bank gold loan per gram 2022 offer for 20 carat jewellery will be between ₹ 2,573 to ₹ 3,266
  • Gold loan per gram rate of Muthoot Bank for 18 carat jewellery will be between ₹ 2,316 to ₹ 2,672

Tips to Get Best Gold Loan Amount Per Gram from Muthoot

  • Muthoot accepts both hallmarked and non-hallmarked jewellery for getting a gold loan. However, you can get the highest gold loan per gram for hallmark jewelry. Also, some banks charge lower processing fees on hallmarked gold jewellery.
  • Muthoot adjusts the price of 22-carat gold for purity of gold. Hence, always try to borrow against higher purity jewellery as it will fetch you the highest amount for gold loan.
  • Always try to choose jewellery that has minimum gems and stones. Most of the banks will reduce the weight of gems and stones from the total weight of the jewellery. Muthoot will rely on the report of his gold valuer to calculate the net weight.
  • Muthoot will not accept diamond jewellery if the gold used is of less than 18 carat purity. Most of the diamond jewellery is made in 16 carat to 18 carat gold and hence, will result in a very low gold loan per gram.
  • Always try to get the maximum LTV on the value of gold. Muthoot is allowed by RBI to charge a maximum LTV of up to 100% to calculate the amount of gold loan you are eligible for.

How can I Get a Gold Loan from Muthoot after Checking the Eligibility?

You can get a gold loan from Muthoot either online or offline, depending upon your convenience. For the online process, you can visit the official website of Muthoot and apply for a gold loan. In addition to that, you can give a missed call to Muthoot at their customer care number 1800-313-1212/ 783-488-6464. For the offline process, you can visit the nearest Muthoot branch and fill up the Muthoot gold loan application form.

To get the best offers on Muthoot gold loan you can also apply for a Muthoot gold loan at online marketplaces like MyLoanCare, where you can compare Muthoot gold loan offer with other top lenders and choose the best option for you. To apply for Muthoot gold loan, fill the online gold loan application form with your personal details and requirements related to the loan. Our representative will then contact you for best offers based on your eligibility.

FAQs

What is the age limit required for a gold loan from Muthoot?

The minimum age should be 21 years and the maximum age should be up to 65 years. Based on your age, Muthoot decides upon your gold loan tenure that can range up to 36 months.

Does CIBIL score matter to get a gold loan from Muthoot?

No, Muthoot does not check your CIBIL to provide gold. However, if you repay your gold loan on time, you can improve the CIBIL.

What is the eligibility for an Muthoot Fincorp Ltd. gold loan?

To avail an Muthoot Fincorp Ltd. gold loan, you must be a citizen of India between 21 years to 65 years of age. You should also have gold jewellery which has purity above 18 carat. Muthoot Fincorp Ltd. gold loans are easy to avail of as you can avail of these loans, even without a good CIBIL score.

What is the maximum loan amount that I can avail on gold loan from Muthoot?

The maximum loan that you can avail of from Muthoot is 100% of the market value of the gold depending on the quality of the gold. However, ensure that the gold fits the purity mark of a minimum of 18 carats of gold and is hallmarked. Before availing of a gold loan from Muthoot, ensure checking the current gold rate per gram to get a good sum on your gold.

What is the loan tenure of the Muthoot Fincorp Ltd. gold loan?

Muthoot Fincorp Ltd. gives gold loans to the applicants for a maximum tenure of 36 months. So, the borrower should be sure about the repayment capacity of the loan. To plan your gold loan prepayments within this tenure, you can use the Muthoot Fincorp Ltd. gold loan EMI calculator

What kind of gold items are accepted and rejected as security?

Gold ornaments with carats in the range of 18 to 24 and weight of more than 50 grams are accepted by Muthoot. However, Muthoot does not allow you to borrow against gold bars, exchange-traded funds and ladies mangal sutra.

Do I need a co-applicant to get a gold loan from Muthoot?

No, you do not need a co-applicant to get a gold loan from Muthoot. To get a gold loan, you only need to have gold jewellery. Value of your gold, purity marks and age are key requirements to avail of a gold loan from Muthoot. Thus, you can get a gold loan easily without a co-applicant, when you own the gold.

How much loan amount I can get on 22ct 100 grams of gold jewellery from Muthoot?

Muthoot gold loan per gram for 22 K gold is ₹ 3,104 and for thus, for 100 gms, the gold loan per gram will be ₹ 3,10400. The amount for the loan you can avail from Muthoot will further depend on LTV, which is 75% of the market’s gold value. In addition, Muthoot offers a maximum loan amount of upto Rs.50 lakh.


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Muthoot Fincorp Ltd. Gold Loan News - May 2022
  • 2022-02-14 : Muthoot Finance Net Profit Surges 4% in the Third Quarter
    Muthoot Finance reported a 4% year-on-year (y-o-y) increase in its third-quarter consolidated net profit to Rs 1,043.6 crore. The profit was seen primarily due to the good performance of the gold loan division.
  • 2021-09-29 : Muthoot Finance Launches AI Virtual Assistant
    Muthoot Finance has joined hands with Senseforth.ai, a leader in Conversational AI technology, to launch Mattu. It is an AI-powered virtual assistant available on the website and mobile app. It enables users to apply for various kinds of loans, address concerns, and perform transactions like checking account balance, paying gold loan interest, availing loan top-ups, making part payments and much more.
  • 2021-08-12 : Muthoot Finance reports a net profit of Rs 979 crore
    Muthoot Finance reported a 14% year-on-year (y-o-y) increase in its first-quarter consolidated net profit to Rs 979 crore. It is due to the good performance of the gold loan division. Consolidated loan assets under management increased 25% y-o-y to Rs 58,135 crore against Rs 46,501 crore in the year-ago period.
  • 2021-08-12 : Muthoot Fincorp introduces ‘Restart India Vidya Dhan Gold Loan’
    One of the leading NBFCs Muthoot Fincorp has introduced a gold scheme called Restart India Vidya Dhan Gold Loan. The aim of the scheme is to offer gold loans to students to buy smartphones and tablets for online classes. The lender is offering interest-free loans for 90 days to 1,00,000 applicants on a first-come, first-serve basis.
  • 2021-07-14 : Minimum 15% growth this year for Muthoot Finance
    Muthoot Finance MD hopes for a 15% growth this year. After the grim-looking Q1, things have started looking better for Q2 and Q3. Once businesses reopened, the credit requirement was so huge that every lender — gold lending, personal loans, any other loans — started doing better.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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