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Muthoot Finance Gold Loan

Muthoot Finance gold loan is the easiest option to fulfil your financial needs. Muthoot Finance offers a huge variety of gold loan schemes to cater to each customer's needs. You can avail of a loan amount of ranging from Rs. 1,500 to Rs. 5 Crores at an attractive rate of interest of 9% to 26% p.a. The loan can be repaid in a maximum tenure of up to 12 months. Muthoot gold loan ensures quick loan disbursals, attractive interest rates and complete customer satisfaction.

Let’s find the best Gold loan for you.

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You are just a step away from the best Gold loan offer available in your city. Share your name, email & mobile number to get the list of the top gold loan schemes matching with your requirements.

Let’s find the best Gold loan for you.

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Muthoot Gold Loan Benefits

Following are the key benefits that you can get by applying for a Muthoot gold loan:

  • Fast loan disbursal
  • Low gold loan interest rate
  • Customer-oriented services
  • Minimal documentation requirement
  • In-house gold evaluation
  • Loan amount available ranging from as low as Rs. 1,500 and there is no maximum limit.
  • Prepayment option available without any penalty.
  • Strong rooms for keeping your gold ornaments in safe custody.
  • Quick customer service within a short response time
  • Ease and transparency loan process.
  • Different gold loan schemes are available to cater to different types and needs of customers.
  • Refer a friend to get a chance to win exciting Muthoot Group merchandise.

Muthoot Gold Loan Interest Rate

Following are the details of Muthoot gold loan interest rates for different schemes:


 

Gold Loan Scheme

Rate of Interest (p.a.) According to Repayment Tenure

1 Month2 Months3 Months6 Months9 Months12 Months
Muthoot Ultimate Loan (MUL)22%22%22%22%24%24%
Rural Gold Loan (RGL)20%20%20%23%24%24%
Muthoot OnePercent Loan (MOL)12%13%20%24%24%24%
Muthoot Delight Loan (MDL)10.9% - 17%12% - 19%18% - 21%24%24%24%
Muthoot Highvalue Plus Loan (MHP)10.9%14%17%21%24%24%
Muthoot Big Business Loan Silver (MBS)12%15%20%24%24%24%
Muthoot Big Business Loan Platinum (MBP)11%14%20%24%24%24%
Muthoot Big Business Loan Diamond (MBD)10%12%18%24%24%24%
Muthoot Big Business Loan Elite (MBE)9%12%20%24%24%24%
Overseas Remittance Scheme (ORS)9.9% - 11.9%9.9% - 14%  14% - 18%18% - 24%24%24%
Gold Credit Line (GCL)19%If interest is not served monthly, overdue interest of 24% will be charged on the amount exceeding the limit sanctioned.
Muthoot Super Loan (MSL)21%21%21%21%24%24%
Muthoot Best Value (MBL)16%20%22%24%24%24%
Muthoot Mudra Loan (MML)11.9%18%18%22%24%24%
Interest Prepaid Loan (IPL)16%16%16%15%NA12%
Muthoot Highvalue Loan (MHL)15%18%18%21%24%24%
Muthoot Advantage Loan (MAL)18%18%18%21%24%24%
Best Value Scheme (BVS)14%16%16%18%24%24%
Muthoot Advantage Product (MAP)15%15%15%15%24%24%
High Value Retention (HVR)9.9%13%13%18%24%24%
Gold Credit Scheme (GCS)15%19%19%19%19%19%
ZIL / ZIPZero interest loan (a late fee of 24% on delayed EMI amount will be charged)

*NOTE: After 12 months tenure a penal interest of 2% will be added to the final rate of interest.

Types of Gold Loan Offering by Muthoot Finance

Muthoot offers a huge range of gold loan schemes. The key features of all Muthoot Finance gold loan types are mentioned below:

1. Muthoot One Percent Loan

These are small gold loans offered at low-interest rates.

Key Features:

  • Online Gold Loan (OGL) facility is available.
  • You can avail of a Muthoot Finance gold loan amount between Rs. 1,500 to Rs. 50,000.
  • Repayment tenure available is up to 12 months.
  • Free insurance facility available for pledged gold ornaments.
  • Lowest rate of interest at 12% p.a., if 100% interest is paid monthly.

2. Muthoot Ultimate Loan (MUL)

This scheme offers maximum loan value and discounts on timely interest payments.

Key Features:

  • Online Gold Loan (OGL) facility is available.
  • You can avail of a loan amount starting from Rs. 1,500 and no maximum limit.
  • Repayment tenure available is up to 12 months.
  • Free insurance facility available for pledged gold ornaments.
  • Rate of interest for this scheme is 22% p.a. with a 2% rebate if 100% interest is paid monthly.

3. Muthoot Delight Loan

Under this scheme, you can get a high loan amount with low-interest rate.

Key Features:

  • Online Gold Loan (OGL) facility is available.
  • You can avail of a loan amount between Rs. 50,000 to Rs. 5 Crores.
  • Repayment tenure available is up to 12 months.
  • Free insurance facility available for pledged gold ornaments.
  • Low rates of interest.

4. Muthoot Mudra Loan

This is a special loan scheme for women in South India branches of Muthoot Finance.

Key Features:

  • This scheme is offered at South India branches only.
  • You can avail of a loan amount between Rs. 1,500 to Rs. 1 Lakh.
  • Highly discounted interest rate of 11.9% p.a.

5. Muthoot Advantage Loan

This scheme comes at a competitive gold loan per gram rate of interest.

Key Features:

  • Online Gold Loan (OGL) facility is available.
  • This scheme is offered at South India branches only.
  • You can avail of a loan amount between Rs. 50,000 to Rs. 5 Crores.
  • Repayment tenure available is up to 12 months.
  • Free insurance facility available for pledged gold ornaments.
  • Attractive interest rate of 18% p.a.

6. Muthoot High Value Plus Loan (MHP)

These loans are curated for the business community.

Key Features:

  • Online Gold Loan (OGL) facility is available.
  • You can avail of a loan amount between Rs. 2 Lakhs to Rs. 5 Crores.
  • Repayment tenure available is up to 12 months.
  • Free insurance facility available for pledged gold ornaments.
  • Interest rates as low as 14% p.a.
  • Maximum loan to value (LTV) offered.

7. Muthoot High Value Loan (MHL)

These gold loans are ideal for longer periods.

Key Features:

  • Online Gold Loan (OGL) facility is available.
  • You can avail of a loan amount starting from Rs. 50,000 and no maximum limit.
  • Repayment tenure available is up to 12 months.
  • Free insurance facility available for pledged gold ornaments.
  • This scheme is offered at South India branches only.
  • Interest rate as on date is as low as 15% p.a.
  • Maximum loan to value offered.

8. Muthoot Big Business Loans

This Muthoot Finance gold loan comes at low rates of interest and maximum LTV. There are four types of schemes under this loan type, viz. Muthoot Big Business Loan Silver, Muthoot Big Business Loan Platinum, Muthoot Big Business Loan Diamond, and Muthoot Big Business Loan Elite.

Key Features:

  • Low rates of interest with maximum LTV.
  • Online Gold Loan (OGL) facility is available.
  • Repayment tenure available is up to 12 months.
  • Free insurance facility available for pledged gold ornaments.
  • You can avail of a loan amount between Rs. 5 Lakhs to Rs. 5 Crores as per schemes.
  • Rates of interest are 12% p.a. for Muthoot Big Business Loan Silver, 11% p.a. for Muthoot Big Business Loan Platinum, 10% p.a. for Muthoot Big Business Loan Diamond, and 9% p.a. for Muthoot Big Business Loan Elite. 

9. Best Value Scheme (BVS)

These loans are offered at South India branches only at a highly discounted rate, and the loan amount is high.

Key Features:

  • This scheme is offered at South India branches only.
  • You can avail of a loan amount between Rs. 50,000 to Rs. 5 Crores.
  • This scheme is offered at a highly discounted rate of 14% p.a.
  • Repayment tenure available is up to 12 months.
  • Free insurance facility available for pledged gold ornaments. 

10. High Value Retention (HVR)

These loans are offered at South India branches only at a highly discounted rate, and the loan amount is high.

Key Features:

  • This scheme is offered at South India branches only.
  • You can avail of a loan amount between Rs. 20 Lakhs to Rs. 5 Crores.
  • Offered at the lowest interest rate of 9.9% p.a.
  • Repayment tenure available is up to 12 months.
  • Free insurance facility available for pledged gold ornaments.

Eligibility Criteria of Muthoot Finance Gold Loan

You will have to meet the following eligibility criteria to apply for a Muthoot gold loan:

  • Any major Indian citizen can avail of a gold loan from Muthoot Finance. 
  • Applicants have to provide the required documents and the gold ornaments to be pledged.
  • The gold as security is needed from the end of the applicant to avail Muthoot Finance gold loan. No external/third-party guarantor is required. 
  • You can pledge any type of gold ornaments/gold jewellery, including items like watches, rings, necklaces, kardahs, bracelets, pendants, polki sets, etc. 

Documents Required for Muthoot Gold Loan

Muthoot finance requires the following basic documents for gold loans:

  • Loan application, mentioning the reason for which the loan is being taken. 
  • Demand Promissory Note and take the delivery letter.
  • Terms and Conditions Letter including the declarations and undertakings and acknowledgement by the borrower, along with any other documents as specified by the company. 
  • Applicant’s consent to get Aadhaar details for authentication with UIDAI for the ‘eKYC’ process.
  • Identity proof - any one of the following: 
    • Passport
    • PAN
    • Driving License
    • Voter ID Card
    • Ration Card
    • Aadhar Card
    • Any other identity card issued by a government authority/ PSU/ nationalized bank, having the applicant’s photograph.
  • Address proof - any one of the following:
    • Ration Card
    • Latest Electricity/ Landline Telephone Bills
    • Bank Passbook
    • Aadhar Card
    • Any other documents issued by a government authority/ PSU/ nationalized bank, having the applicant’s photograph.

If any of the documents submitted by the borrower as identity proof also contains their address, then no separate address proof is required. 

Muthoot Gold Loan Calculator

The gold is pledged as collateral for a gold loan, and on the basis of the gold’s value at the current market rate, the total amount that you can avail of as a loan is calculated by the lender. 

Before you choose the best Muthoot Finance gold loan scheme, it is important to calculate your eligibility and possible Equated Monthly Instalments (EMIs), so you can make an informed decision. For this purpose, you can use the Muthoot Gold Loan Calculator available online on the official website of Muthoot Finance.

Here are the steps involved in calculating your gold loan EMI using Muthoot’s gold loan eligibility calculator:

  • Open the Gold Loan Calculator by clicking the link https://www.muthootfinance.com/gold-loan/calculator. 
  • Enter your Name, Email ID, and Contact Number.
  • Select the State where you are living.
  • Enter your area’s PIN Code.
  • Now choose the Gold Type which you want to pledge from the options like a stone, solid, or chain.
  • Enter the loan amount you require in INR.
  • Enter the weight of gold (in grams).
  • As soon as you enter all these details, your eligibility will be calculated and displayed on the screen instantly.

Compare Muthoot Gold Loan to Other Lenders

Below is the comparison of the Muthoot gold loan with the gold loan schemes of other lenders. You can check the key features of top lenders to see which is the best gold loan bank available in India and which lender offers the best gold loan interest rate before you apply for the loan.

BankRate of Interest (p.a.)Loan AmountProcessing FeeTenure
Muthoot Finance Gold Lona9% - 26%Rs. 1,500 to Rs. 5 Crores Up to 1%Up to 12 months
Bajaj Finserv Gold Loan10% - 28%Up to Rs. 2 CroresRs. 75 (inclusive of applicable taxes)As applicable
Bank of Baroda Gold Lona9.20% - 9.30%Up to Rs. 25 LakhsUp to 0.50% + GST1 year - 3 years
Canara Bank Gold Loan13% onwardsRs. 5,000 - Rs. 35 Lakhs1% 6 months - 1 year
HDFC Bank Gold Lona7.60% - 16.81%Rs. 25,000 onwards (Rs. 10,000 onwards in rural markets)1%3 months - 2 years
SBI Gold Loan8%Rs. 20,000 - Rs. 50 LakhsNil till 31.01.2023Up to 3 years
Indian Bank Gold Lona8.25% onwardsNo upper limit0.50%Up to 35 months
ICICI Bank Gold Loan10% - 17.95%Rs. 50,000 - Rs. 1 Crore1%6 months - 1 year
Kotak Mahindra Bank Gold Loan8% - 17%Rs. 20,000 - Rs. 1.5 CroresUp to 2% + GSTUp to 4 years
Axis Bank Gold Lona17% - 19%Rs. 25,001 - Rs. 25 LakhsUp to 0.50%6 months - 3 years

Fee & Charges of Muthoot Gold Loan

Following are the fee and charges to be paid for availing of a Muthoot Finance gold loan:

Type of ChargeRate of Charges Applicable
Service charges for fresh IPL loan1% of the loan amount for 12 months period only
Service charges for fresh ZIL/ZIPRs. 50 per loan account
Service charges for fresh MBD/MBERs. 2,500 per loan account
Security charges for fresh loan0.15% of the loan amount; minimum Rs.60 & maximum Rs. 600
Token charges for select schemesRs.10 for loan up to Rs. 10,000 & Rs. 20/ for loan above Rs. 10,000
SMS chargesRs. 5 per quarter at loan closure/ renewal
Notice charges Rs. 30 each 3 ordinary notice & Rs. 100 for 4th registered notice
Token lost chargesRs. 25 + cost of stamp paper applicable
Stamp duty Actuals whereever levied by State Governments
GCS
  • Rs. 999 per 6 months if the limit is not used over a period of 6 months
  • Rs. 99 per transaction if the transaction is through branches
GCL
  • Rs. 999 per 6 months if the limit is not used over a period of 6 months
  • Part release charges of Rs. 499 per transaction
  • Rs. 99 per transaction if the transaction is through branches
Charges for Loan @ Home servicesUp to Rs. 500 
Charges for Loan @ Home servicesRs. 25 to Rs. 75, depending on the loan amount
Door to Door collection charges for follow-up for interest/ loan recoveryRs. 150 + GST per customer 

Process to Apply for Muthoot Finance Gold Loan

You can easily apply for a Muthoot gold loan online without any hassles by following the steps mentioned below:

  • Visit the official website of Muthoot Finance or download the iMuthoot app on your mobile phone.
  • Then, calculate your gold loan eligibility using the gold loan calculator to see the loan amount that you will get against your gold ornaments.
  • Muthoot Finance offers a variety of gold loan schemes. You can choose the best suitable one according to your preferences.
  • Once you choose the desired gold loan scheme, you can calculate the loan EMI using the EMI calculator. Mention the scheme chosen by you, the loan amount, and the repayment tenure to see the EMI amount.
  • If the gold loan amount and the loan EMI match your requirements, you can fill in the form and submit it. 

Muthoot Finance expert executive will get in touch with you shortly to discuss the Muthoot Finance gold loan formalities.

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Get Gold Loan with No EMI Option from Rupeek

Rupeek Gold Loans are instant secured loans with no EMI option at interest rate starting at 9.69% p.a. You can avail of emergency loan ranging from Rs 15000 to Rs 1.5 crore against gold jewellery, coins & ornaments. With bullet repayment option you repay entire loan at the end of the tenure.

Muthoot Finance Gold Loan FAQs

What is the minimum limit on Muthoot Finance gold loan?

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The minimum loan amount that can be availed as a Muthoot gold loan is Rs. 1,500.

What is the interest of 1 lakh in Muthoot Finance?

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The interest rate of 1 Lakh in Muthoot Finance varies between 9% and 26% p.a., depending on the loan repayment tenure and other factors. 

How can I pay my Muthoot gold loan interest?

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You can easily pay your Muthoot gold loan interest through the Quick Pay service on Muthoot Finance website.

What is Muthoot Interest Free Gold?

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Under the Muthoot Interest Free Gold Loan scheme, you can avail of loans up to Rs. 10,000 per individual for 6 months without any interest for a period of 90 days. In addition, there are no processing charges. One applicant is eligible for only one loan account under this scheme. The loan can be availed by producing the student's ID card.

How can I check my muthoot gold loan balance?

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You can give a missed call to 08040751515 from your registered mobile number to know your loan outstanding balance amount and interest due in the gold loan account.

Is it safe to invest in Muthoot Finance?

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According to financial analysts, Muthoot Finance is a strong brand and has a well-entrenched distribution that helps it gain incremental share in the expanded market for gold loans. Also, Muthoot Finance has received an AA+ credit rating, which is stable by ICRA. It indicates a high degree of safety.

How much is gold loan per gram in Muthoot?

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Muthoot's gold loan per gram rate for 22 K gold today is Rs. 3,104, and for 100 grams, the gold loan per gram will be Rs. 3,10400. The loan amount you can avail from Muthoot Finance depends on the LTV (75% of the market's gold value) gold rate today.

Can I sell pledged gold in Muthoot?

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Once your gold loan in Muthoot Finance is closed, you are free to deal with the ornament in any manner. You can definitely sell the pledged gold jewellery after redeeming it from Muthoot Finance.