Manappuram Gold Loan

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Manappuram Gold Loan Interest Rate Oct 2016

Last Updated 31st Dec 69
Manappuram Gold Loan Interest Rate 14.00% - 26.00%
Repayment Options EMI Scheme, Bullet Repayment Scheme, Overdraft Scheme
Loan Tenure 1 day to 3 months
Minimum and Maximum Loan Amount Rs. 1,000 and Rs. 10,000,000
Processing Fee Rs. 10 (to be paid at time of settlement)
Prepayment Charges Nil
Penal Charges 0.25% per month
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Manappuram Gold Loan Interest Rate Calculator

Manappuram offers gold loan to the customers who have urgent need of money. Gold loan to be offered by Manappuram has many features like:
  • Interest rebate available,if EMI is regularly paid
  • Loan available for shortest duration of 1 day
  • No pre-payment charges and lowest processing fee

Gold Loan Manappuram

Manappuram Gold loan interest rate is the rate which you pay over the loan amount that you have borrowed from Manappuram. Gold loan interest rates offered by Manappuram are fixed as well as floating
  • Fixed rates allow you to borrow loan at a fixed price which won’t change in the whole tenure in case of change in Manappuram benchmark rate and should be chosen only if you believe that the rates will not hike in future
  • In contrast to this are floating rates which changes with a single change in Manappuram benchmark rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates
Manappuram Gold Loan Rates depends upon
  • Manappuram gold loan amount: Gold loan rate in Manappuram depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate

Manappuram Gold Loan Charges

Manappuram Gold Loan foreclosure charges- These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. Manappuram allows prepayment of gold loan with Nil prepayment charges
Manappuram Gold Loan processing fee- Manappuram asks for a processing fee of Rs. 10 (to be paid at time of settlement) with applicable service tax
Penal Interest- Manappuram charges a penal interest of 0.25% per month if you don’t pay the EMI on the due date decided by the bank

Manappuram Gold Loan EMI Calculator

Gold Loan EMI of Manappuram is a fixed amount that you pay each month towards the repayment of your jewel loan. Lowest EMI offered by Manappuram is Rs. 34,114 per lakh loan amount. Gold loan EMI of Manappuram depends upon:
  • Rate of interest: Higher the interest rate, higher will be the EMI. For a 3 months gold loan from Manappuram at interest rate of 14.00% per annum, EMI will be Rs. 34,114 per Rs. one lakh loan amount. At interest rate of 26.00% for the same loan, the EMI will be Rs. 34,788
  • Loan tenure: Longer the loan tenure, lesser your monthly EMI. At 14.00% per annum, the EMI would range from Rs. 101,167 to Rs. 34,114 for loan tenure ranging from 1 day to 3 months

Manappuram Gold Loan Eligibility Calculator

Gold loan eligibility criteria Manappuram

Eligibility of Gold loan in Manappuram depends upon multiple factors:-
  • Quantity and quality of gold pledged: Gold loan eligibility depends upon the weight and assessment of purity of the gold jewelry that is being pledged. Gold ornaments karatage should be in the range of 18 to 24 karats. Both hallmarked jewellery and non hallmarked jewellery can be used for availing gold loan.
  • Gold loan rate per gram: Manappuram will value the jewelry based on price of 22 carat gold adjusted for purity. Manappuram use thirty days average rates of 22 carat gold prices. You can also check today gold rate at Myloancare.
  • Form of gold pledged: You can get gold loan from Manappuram against jewelry or ornaments with a purity of 18 carats or more and specially minted gold coins with a weight of up to 50 grams. You will not be eligible for gold loan against gold bars, ETFs (exchange traded funds), specially minted coins of more than 50 grams and ladies mangal sutra.
  • Purpose for which loan is used: You can use the gold loan from Manappuram for personal, business and agricultural purposes. However, you should not use gold loan for speculative purposes such as purchase of gold coins, jewels, land, and investment in stocks, futures and options.
Estimated eligibility online by using Gold Loan Eligibility Calculator

Popular Manappuram Gold Loan Products

Manappuram offers you following gold loan schemes
  • Privilege Loan Scheme
  • Swarna Shakthi Scheme
  • Simple Interest Loan
  • Value for Money
  • GL-SY Scheme

Gold Loan Manappuram documents required

The documentation process of Manappuram is smooth. Here is a list of documents which are required to apply for home loan from Manappuram:
  • Identity proof: Passport, Driving License, PAN Card, Aadhar Card, Voter’s ID Card
  • Address proof: Aadhar Card, Voter’s ID Card bank statement, rent agreement, utility bills, registry copy

Frequently Asked Questions – Manappuram Gold Loan

What is the maximum loan tenure I can opt under Manappuram gold loan?

Manappuram offers you tenure of upto 3 months to repay your gold loan.

Can I prepay my gold loan? What are the charges applicable?

Yes, you can prepay your gold loan. Applicable prepayment charges - Nil.

If I fail to repay the loan amount on time, what are the late payment charges on Manappuram gold loan?

If you fail to repay the loan amount on due date, then you need to pay penal charges at 0.25% per month over and above contracted rate of interest. In case the loan is still not paid back, Manappuram may dispose off the gold and recover its dues including principal, interest and penal charges.

What is the maximum gold loan amount available?

You can avail gold loan up to Rs. 10,000,000 from Manappuram

Compare Manappuram Gold Loan

Comparison of Manappuram Gold Loan with other banks

Manappuram Gold Loan in India

Manappuram Gold Loan Customer Care Number, Email, Application Status

Contact Details of Manappuram Gold Loan Branches
City Customer Care Number
Agra 9388611115
Ahmedabad 9349411115
Ambala 9388611115
Anand 9349411115
Aurangabad 9349411115
Bangalore 9349611115
Bhilai 9388290833
Bhilwara 9349411115
Bhiwadi 9388611115
Bhopal 9388290833
Bhubaneswar Cuttack 9388290833
Bikaner 9388611115
Chandigarh 9388611115
Chennai 9349441473
Cochin 9388711115
Coimbatore 9349441473
Dehradun 9388611115
Delhi 9388611115
Durg 9388290833
Faridabad 9388611115
Gandhinagar 9349411115
Ghaziabad 9388611115
Goa 9349411115
Greater Noida 9388611115
Gurgaon 9388611115
Guwahati 9388290833
Gwalior 9388290833
Hyderabad 1800-420-2233
Indore 9388290833
Jabalpur 9388611115
Jaipur 9388611115
Jalandhar 9388611115
Jodhpur 9349411115
Kanpur 9388611115
Karnal 9388611115
Kolhapur 9349411115
Kolkata 9388290833
Kota 9388611115
Kozhikode 9388711115
Lucknow 9388611115
Ludhiana 9388611115
Madurai 9349441473
Meerut 9388611115
Mehsana 9349411115
Mohali Sas Nagar 9388611115
Mumbai 9349411115
Mussoorie 9388611115
Nagpur 9349411115
Nashik 9349411115
Noida 9388611115
Noida Extn. 9388611115
Panipat 9388611115
Patna 9388290833
Pondicherry 9349441473
Pune 9349411115
Raipur 9388290833
Rajkot 9349411115
Ranchi 9388290833
Rohtak 9388611115
Roorkee 9388611115
Salem 9349441473
Shimla 9388611115
Sonepat 9388611115
Surat 9349411115
Trichy 9349441473
Udaipur 9388611115
Vadodara 9349411115
Varanasi 9388611115
Vijaywada 9349811115
Vizag 9349811115
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Manappuram Gold Loan News - Oct 2016
09th Aug 16 Manappuram Finance Q1 net jumps twofold to Rs 160 crore
As per the results for Q1FY17, Manappuram Finance reported 170 percent I ncrease in its Consolidated Net Profit to Rs 160.33. The company also reported increase in Consolidated Total Income to Rs 750.79 crore as compared to Rs 540.96 crore in previous year. Whereas the Standalone Net Profit increased by 166 percent to Rs 149.25 crore in June quarter as compared to Rs 55.92 crore in previous year
21st May 16 NBFCs, banks focus on shorter tenure gold loans to boost margins
Banks and NBFCs are now looking at shorter tenure gold loans of three to six months unlike earlier when the duration used to be typically one year or more. VP Nandakumar, managing director and chief executive of Manappuram Finance, explained that the company decision to focus on shorter term loans has helped in improving profitability. These shorter duration gold loans also help companies by shielding them against volatility in gold prices that get more pronounced in longer duration loans.
19th May 16 Manappuram plans to launch debit card to offer gold loan to customers without bank accounts
Manappuram Finance plans to launch co branded debit card to offer gold loans to customers without bank accounts. A co branded will expand the potential customer base for online gold loan to even those who do not have access to a bank account. They will be able to withdraw the proceeds of the online gold loan from any ATM around. The Kerala based diversified NBFC had reported a net profit of 30 per cent at Rs 353.36 crore for fiscal 2015-16.