Manappuram Gold Loan

Manappuram Gold Loan Interest Rate Feb 2017

Last Updated 21st Feb 2017
Interest Rate 14.00% - 26.00% Check Special Offer
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

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
  • 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

Gold Loan Charges

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
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 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

What is the maximum loan tenure I can opt under Manappuram jewel 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

Manappuram Gold Loan in India

Manappuram Gold Loan News - Feb 2017
09th Feb 17 Manappuram Finance registers two fold growth in its net profit in third quarter of FY17
Manappuram Finance has reported a two fold growth in its net profit at Rs. 202 crore during third quarter of FY17 as compared to Rs. 100 crore for the corresponding period a year ago. The gold financier also registered a healthy growth of 27 percent in its gold loan asset under management at Rs. 12,267 crore during the quarter as compared to Rs. 9,639 crore a year ago.
20th Jan 17 Gold loan companies expects loan demand to grow in next quarter
Gold loan companies like Muthoot Fincorp and Manappuram Finance are expecting a positive growth in demand for gold loan in the fourth quarter of FY 17. Gold loan companies suffered a setback in their business due to demonetisation as most of their transactions were in cash. The gold companies are also anticipating a healthy growth in business with the launch of their new On Line Gold Loan product offering.
02nd Dec 16 Manappuram to launch Anytime Pawn Machines for instant gold loans
Manappuram Finance, leading gold loan company, has announced the launch of a new scheme to provide instant gold loans to customers. Under the scheme, company will install Anytime Pawn Machines nationwide. The machine will issue the new currency notes to customers in exchange of their gold and jewellery.
28th Nov 16 Manappuram to encourage customers to use digital payment mode for repayments
Manappuram Finance, leading gold loan NBFC, is encouraging customers to use digital payment modes for loan repayments. Customers were facing difficulties in making repayments as the company stopped accepting old currency notes after demonetisation. The company has registered a decline of 40 to 50 percent in its business since the currency denomination.
23rd Nov 16 Manappuram shares plunge by 35 percent after demonetization
Manappuram Gold Finance, India leading gold loan provider, got a hard blow from the biggest currency denomination. Shares of gold finance company fell by 35 percent. According to the head of research of IDBI Bank, people are afraid of buying gold as government is rumored to scrutinize gold buyers which will also reduce new disbursements of gold loans.
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