Muthoot Finance Gold Loan is provided by Muthoot Finance Company. It is one of the largest gold lending companies in India, which was established in 1939. Muthoot Finance is a non-banking financial company with about 4400 branches across India.
This financial company has a good reputation in the country, and people also have good faith in this company. Therefore, there is no risk of fraud. Muthoot Finance is a lending company.
Muthoot Finance Gold Loan 2024
Muthoot Finance also caters to other financial products such as personal loans, but Gold Loans are a well-known product. Most people in the country resort to gold loans to meet their financial needs. Therefore, you can also avail the service of gold loan to overcome your financial problems.
There are other companies too who would provide loans like Manappuram Gold Loan. Government Initiatives like Pradhan Mantri Mudra Yojana helps to provide the loans.
Muthoot Finance Company has established a credibility in the field of gold loans in India. Therefore, the identity of this company is not only in India but in many other countries of the world. That is why Muthoot Finance claims that due to its easy terms of service, about 2 lakh people from all over India approach daily for Muthoot Gold loan.
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Muthoot Finance Gold Loan Rate (per gram )
Muthoot Finance offers loan. The range of which can range from 25000 to 1 crore. The amount of gold loan depends on the purity as well as the quantity of gold ornament. Loan amount per 10 grams, Muthoot Gold loan rate per gram, is discussed below
- 18 Carat Gold: – Rs 16000
- 17 carat gold: – Rs 17200
- 19 Carat Gold: -Rs 18500
- 20 Carat Gold: -Rs 19800
- 21 carat gold: – Rs 22900
- 21 carat gold: – Rs 21700
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Required eligibility for taking Muthoot Finance Gold Loan
- To take a Muthoot Gold loan, the first applicant must be an Indian citizen.
- For taking Muthoot Gold loan, the minimum age of the applicant should be 18 years and maximum age is 70 years.
- Any applicant can get Muthoot Gold loan only if the applicant is the owner of the gold itself
- For taking a Muthoot Gold loan, the purity of the gold of the applicant should be between 18 carat to 22 carat.
- To take a Muthoot Gold loan, the applicant must have at least 10 grams of gold weight.
- Company accepts jewelery as gold for Muthoot Gold loan
- Muthoot Finance Company does not offer gold loans on gold coins.
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Documents required for Muthoot Gold loan
You must have any one of the documents in Aadhaar card, voter card, driving license, passport, residence proof
Applicant should have two passport size color photography.
Benefits of Muthoot Finance Gold Loan
- It is very easy to take a gold loan from Muthoot Company. Which is very easily approved and delivered quickly
- Muthoot Finance Company charges very low processing fees while giving gold loan
- From Muthoot Finance Company, you can take a loan from Rs 18000 to Rs 1 crore on the basis of your gold.
- Muthoot Finance Company offers pre-payment facilities. This means that if you want to close your loan before the loan period, you can close your loan without paying any extra fee.
- The minimum time for taking a gold loan from Muthoot Company can be 15 months and maximum up to 36 months.
- The interest rates for gold loans charged by Muthoot Finance are very low as compared to other banks. Therefore, the customer prefers only Muthoot Finance over other banks.
- To take a gold loan from Muthoot Company, you only have to deposit a percentage of the loan.
- Muthoot Finance Company provides three-tier security to the applicant’s gold. The gold is kept very securely in the locker. So you don’t have to worry about your gold
- While taking a gold loan from Muthoot Finance Company, your CIBIL score does not play an important role even if your CIBIL score is not good, you can still get a loan.
- When taking a gold loan from Muthoot Finance Company, you need very few documents which almost everyone has.
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Muthoot Finance Gold Loan Interest Rate
Loans on gold are available at a lower rate of interest. The biggest reason for this is that gold loan falls in the category of secured loan. Because in this financial companies do not have to take any kind of risk
Therefore, the interest rate of gold loan is less than the interest rate of a personal loan or any type of loan. But gold loan rates vary from person to person from time to time.
- It has a minimum interest rate of 7 percent per year.
- Muthoot Finance takes 1% of the processing fee.
- In addition, premature loan closing fees range from 0–2%.
How to apply for Muthoot Gold Loan ?
- Gold loan application process from Muthoot Finance Company is also very easy.
- If you want to apply online, first of all you have to go to the official website of Muthoot Company https://www.muthootfinance.com/, you can also apply by filling the form here.
- But if you do not want to apply online then
- You can also apply by visiting any nearby Muthoot Finance branch with your required documents and gold.
- Before giving loan there, all the information is explained so that later you will have any problem of any kind.
Must Read : What is Manappuram Gold Loan ?
Use of Muthoot Finance Gold Loan Amount
- You can use the amount of Muthoot Finance Gold loan to meet any of your personal needs.
- Use this loan amount for the wedding in the family.
- You can use this gold loan for education purposes.
- With the help of this gold loan you can start your business.
- You can use this gold loan amount to buy a car.
- With the help of Muthoot Gold Loan, you can overcome any of your medical problems.
Conclusion
In this article, we have given you complete information about Muthoot Finance Gold Loan. In this we have told you how you can avail of Muthoot Finance Gold Loan, which documents are required by the applicant for this and which applicants will be considered eligible for gold loan.
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