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Muthoot Gold Loan

Last Updated 19th Aug 2017

Muthoot Gold Loans

Information from secondary sources. MyLoanCare is not a channel partner of Muthoot Finance.

Rate of Interest 12.00% - 24.00%
Loan Amount Between Rs. 1,500 to Rs. 10,000,000
Lowest EMI per lakh Rs. 3,321 per lakh
Maximum Loan Tenure From 7 days to 36 months
Age Between 18 years to 0 years
Processing Fee 0.25% to 1% of loan amount.
Apply Gold Loan @ 10.50%*
Rs.
Rs.
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Muthoot Gold Loan Details

Muthoot Gold Loan Document List

Documents Salaried Self Employed
Identity Proof Passport/ Driving License/ Voter ID/ PAN Passport/ Driving License/ Voter ID/ PAN
Address Proof Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport

Muthoot Gold Loan Apply

Muthoot gives the facility of gold loan to the people who want money to meet their urgent requirements. There are some features and benefits of taking gold loan from Muthoot:

  • Specially designed schemes for lower to middle income group customer and for business community
  • Discounts on timely payment of monthly interest
  • Nil prepayment charges

Gold Loan Muthoot

Popular Products:

  • Muthoot Overdraft Scheme
  • Muthoot Highvalue Loan
  • Muthoot Best Value Loan
  • Muthoot Mahila Loan
  • Muthoot Super Loan
  • Muthoot Premier Loan
  • Muthoot Advantage Loan
  • Muthoot EMI Scheme
Muthoot Gold Loan Calculator

Interest Rate Calculator – This helps you in identifying the interest rate charged on applied Muthoot loan amount for effective tenure.

Interest rate on Muthoot gold loan depends upon

  • Loan Amount – Higher the loan amount, lesser will be the interest rate

Eligibility Calculator – Eligibility calculator calculates your gold loan eligibility depending upon the weight and purity of gold. Apply for only that much loan amount, what you are eligible for. You can calculate your gold loan eligibility online and based on that apply for loan. Eligibility depends on:

  • Quantity and quality of gold pledged – Gold ornaments purity should range from 18 to 24 karats. To get gold loan from Muthoot, both hallmarked and non hallmarked jewelry are acceptable.
  • Purpose of loan – Muthoot gives gold loan for business, personal and agricultural purposes. Gold loan of Muthoot should not be used for investment in stocks or purchase of gold coins, jewelry or land.
  • Rate of gold per gram – Muthoot calculates the value of your gold based on 22 carat gold price. Muthoot takes 30 days average of 22 carat gold price.
  • Form of gold assured – Muthoot gives gold loan against ornaments with 18 carat purity and special minted coins weights up to 50 grams.

There are various methods of calculating eligibility

  • Valuation of Gold – Muthoot calculates value of your gold on the basis of gold karatage, price and weight of gold. Muthoot gives only 75% of gold ornament value as gold loan.

EMI Calculator – Gold Loan EMI calculator helps you in calculating your monthly EMI based on the loan amount, interest rate and tenure you have applied for.

  • Loan amount – You should apply for only eligible loan amount from Muthoot ranges from Rs. 1,500 to Rs. 10,000,000. Gold loan EMI will be high based on your loan amount.
  • Loan Tenure – High tenure of gold loan leads to low amount of EMI.
  • Interest Rate – Muthoot gold loan EMI will be low if your rate of interest is less.

Preclosure

Gold Loan Preclosure of Muthoot

These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. Muthoot allows prepayment of gold loan at Nil.

FAQs on Gold Loan from Muthoot

How much fee is charged by Muthoot for gold loan?

Processing fee charged on Muthoot gold loan is 0.25% to 1% of loan amount. with applicable service tax.

What if I missed my gold loan EMI in Muthoot?

Muthoot charges a penal interest of 0.16% per month if you miss an EMI.

Can I check my loan account statement online?

You can login into your Muthoot online net banking account to get your loan details, track your loan history and make the payment online.

Easy comparison of Muthoot home loan with other banks

Muthoot Gold Loan
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Gold Loan Eligibility
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. MyLoanCare is an independent professional service provider and is not related to the government or government bodies or any regulator or any credit information bureau in any way. Information carried at this website is not and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not undertake any liability with respect to the correctness of the content, information and calculations. Information is subject to change without notice. By submitting your query or using any tools or calculators, you authorize MyLoanCare to share your information with lender(s), consent for such lender(s) to access your credit information report and contact you regarding your query overriding your number being in National Do Not Call Registry. This is a free service and no charges are payable by the borrower to MyLoanCare. The Company may receive remuneration from lenders for services provided to them.