Muthoot Finance’s Gold Loan portfolio is the largest in India as well as around the globe. It is humbling to know that more than 2, 53,000 people avail our trusted services on a daily basis.
For the past 130 years, the company has been serving the interests of customers as its top most priority. Our journey through centuries coupled with the fact that we are still a rapidly growing company, highlights the trust and commitment that our customers worldwide have shown in us.
With Muthoot Finance Ltd. Gold Loan services, it takes no more than a few minutes for your gold to generate cash. The simple procedure that we follow allows:
|PER GRAM RATE AND RATE OF INTEREST OF VARIOUS SCHEMES|
|SL.NO||CATEGORY||Ceiling R6te Rs.1967/-
|1||One Percent Loan (MOL)||Upto 1 month||N.A.||N.A.||12%|
|Above 1 months upto 3 months||N.A.||N.A.||18%|
|Above 3 months upto 6months||N.A.||N.A.||21%|
|Above 6 months upto 12months||N.A.||N.A.||24%|
|Above 12 months(Penal Interest -3% addnl)||N.A.||N.A.||24%|
|2||Mahila Loan (MML)||Upto 1 month||12%||12%||N.A.|
|Above 1 months upto 3 months||15%||15%||N.A.|
|Above 3 months upto 6months||20%||20%||N.A.|
|Above 6 months upto 12months||24%||24%||N.A.|
|Above 12 months(Penal Interest -2% addnl)||24%||24%||N.A.|
|3||Bestvalue Loan (MBL)||Upto 1 month||N.A.||N.A.||14%|
|Above 1 months upto 3 months||18%|
|Above 3 months upto 6months||21%|
|Above 6 months upto 12months||24%|
|Above 12 months(Penal Interest -2% addnl)||24%|
|4||Delight Loan (MDL)||Upto 1 month||N.A.||N.A.||15%|
|Above 1 months upto 3 months||20%|
|Above 3 months upto 6months||23%|
|Above 6 months upto 12months||26%|
|Above 12 months(Penal Interest -3% addnl)||26%|
|5||Great Value Loan (MGL)||Rebate 2% for monthly payment Upto 6 months||N.A.||N.A.||24%|
|Above 6 months(Penal Interest-3% addnl)||24%|
|6||Super loan (MSL)||Rebate 6%/ 3M(18%) - 3%/ 6M(21%) - 2% 9M(22%) Upto 12 months||24%||Rebate 2%/1 M(21.5%)(DLH) 24%||23.5%|
|Above 12 months(Penal Interest -2% addnl)||24%||24%||23.5%|
|7||Premier Loan (MPL)||Upto 1 month||N.A.||N.A.||20.5%|
|Above 1 months upto 3 months||21.5%|
|Above 3 months upto 6months||22.5%|
|Above 6 months upto 12months||23.5%|
|Above 12 months(Penal Interest -3% addnl)||23.5%|
|8||Highvalue Loan (MHL)||Rebate 6%/ 3M(16%) - 6%/ 6M(18%) - 2% 9M(20%)(South) Upto 1 month(Delhi)||16%|
|Above 1 m upto 3 m (Delhi)||18%|
|Above 3 months upto 6 months(Delhi)||20%|
|Above 6 months upto 9 months(Delhi)||22%|
|Above 9 months upto 12 months||22%||22%||23%|
|Above 12 m(Penal Int.-2% addnl & 3% for Delhi)||22%||22%||23%|
|9||Highvalue Loan (MHL Plus) (Above 20 L)||Rebate 8% /3 M(14%) - 4% / 9M(18%) - 2% / 12M(20%) Upto 12 months||22%||22%||N.A.|
|Above 12 months(Penal Interest -2% addnl)||22%||22%|
|10||Interest Prepaid Loan (IPL)||3 months (After 3 months,22% p.a.)||17% p.a.||17% p.a.||N.A.|
|6 months (After 6 months,22% p.a.)||16% p.a.||16% p.a.||N.A.|
|12 months (After 12 months,22% p.a.)||12% p.a.||12% p.a.||N.A.|
|Premature closure-22% p.a.|
|11||Advantage loan (MAL)||Rebate 5% /3 month(17%)- for South
Rebate 3% /6 months(19%) - for South Upto 3 months(DLH)
|Above 3 months upto 6 months(DLH)||22%|
|Above 6 months upto 12 months||22%||22%||24%|
|Above 12 months(Penal Interest -2% addnl)||22%||22%||24%|
|12||Muthoot Overdraft Scheme (MOS)||Upto 12 months||19%||19%||19%|
|Above 12 months(Penal Interest -2% addnl)||19%||19%||19%|
|13||Zero Interest Loan (ZIL)||0% interest||0%||0%||0%|
|24% for delayed EMI for the delayed Period|
|14||Freedom Gold Loan (FGL)||Rebate 2% / 1M(18%-NACH) - 1% /1M(19%-Non NACH) Upto 12 months||N.A.||20%||20%|
|Above 12 months(Penal Interest -2% addnl)||20%||20%|
|15||Muthoot EMI Scheme (MES)||>6/12 instalments||21% p.a.||21% p.a.||21% p.a.|
|LOAN SCHEMES FOR REPLEDGERS||Kerala||Outside Kerala|
|16||Xpress Business Loan (XBL)||Upto 6 month||17% p.a.||18% p.a.||N.A.|
|Above 6 months upto 9 months||19% p.a.||20% p.a.|
|Above 9 months upto 12 months||23%p.a||24% p.a.|
|Above 12 months(Penal Interest -2% addnl)||24% p.a.||24% p.a.|
|Interest is charged on monthly compounding basis.Documentation charge of Rs.1500/- is chargeable for limits sanctioned under MOS scheme.Late payment charges are applicable for loans under MIS Scheme@24% p.a. for delay in payment of EMIs.|
|Processing charges are applicable for loans under MHL scheme as below:|
|Kerala & Other South Indian Branches||0.50% of the loan amount irrespective of the loan amount|
|All other branches||1% of the loan amount for loans below Rs.10 lakhs|
|0.5% of the loan amount for loans of Rs.10 lakhs & above and upto Rs.25 lakhs|
|0.25% of the loan amount for loans of Rs.25 lakhs and above|
|Rebate of interest is available for prompt payment of interest in MSL, MPL & MAL schemes as mentioned below|
|Scheme||Kerala & Other South Indian Branches||All other branches|
|MSL||Rebate 2%/1month||Rebate 2% /1 month|
|MPL||Rebate 2%/1month||Rebate 2% /1 month|
|Rebate 1% /6 months|
|Penal interest @2% p.a. is chargeable in addition to the interest as above on loans outstanding for more than 12 months|
|* Available in selected branches|
|Service Charges relating to Gold Loans|
|Sl No||Category||Service charge|
|1||Service charge for gold loans under normal schemes (except loans under MHL and MLS schemes) Applicable only in South India Branches)||Rs.10/- for loans upto Rs.10,000/- and Rs.20/- for loans above Rs.10,000/- every time a loan is sanctioned/renewed and a pledge form is printed.|
|2||Processing charges for loans under MHL (Muthoot High value Loan) scheme.||
South Branches - 0.5% of the loan amount
North Branches - Loan amount below Rs.5 lakhs-1% of the loan amount, Loans of Rs.5 lakhs and above and less than Rs.10 lakhs-1% of the loan amount, Loans of Rs.10 lakhs and above and less than Rs.25 lakhs-0.5% of the loan amount, Loans of Rs.25 lakhs and above-0.25% of the loan amount
|3||Documentation charges for limits sanctioned under MOS (Muthoot Overdraft scheme)||Rs.1500/- per account (For renewals within 12 months Rs.750/- per account)|
|4||Processing charges for loans under MSS (Muthoot Samsung Scheme)||Rs.50/- per loan account|
|5||Processing charges for loans under ZIL (Zero Interest Loan) scheme||Rs.50/- per loan account|
|6||Charges for lost tokens (Applicable for loans under all schemes)||Rs.25/- (in addition to the cost of stamp paper applicable)|
(Applicable for loans under all schemes)
South Branches:- Ordinary Notice - Rs.10/-
Registered Notice - Rs.40/-
Auction Notice - Rs.70/-
Ordinary Notice(3 times) - Rs.10/- *3=Rs.30/-
Registered Notice - Rs.40/-
Auction Notice - Rs.100/-
(whenever a loan is marked for auction, the charges will be recovered)
(applicable only in North branches)
|0.15% of loan amount(Minimum Rs.40/-,maximum Rs.600/-) for all schemes in North branches|
|9||Stamp duty levied by State Governments||Actuals wherever applicable|
|10||SMS Charges||Rs.2/- per account at the time of closure / renewal|
A gold loan is a loan which is secured against gold ornaments. A borrower pledges their gold ornaments with the lender in exchange for funds. Therefore, it is a loan which is granted against a certain physical security of gold. Gold loans have successfully enabled thousands of people to mobilize their personal assets, which would've otherwise simply been kept away in a locker.
Customer oriented Services
Quick Loan disbursal
Avail minimum loan amount of Rs. 1500 and no maximum limit
Pre-payment option-without any penalty
In-house gold evaluation
Prompt customer service with in a shorter response time
Strong rooms for safe custody of gold ornaments
Any major Indian citizen can borrow. All they need to provide are the gold ornaments and the required documents.
The only security which is required from the customer’s end in order to avail a gold loan from Muthoot Finance Ltd. is the very gold they will pledge. There is no need for an external/third party guarantor for the same. The loan will be sanctioned against the gold pledged.
The minimum tenure for our gold loan is 7 days and the maximum tenure is 12 months ( Normal Schemes) and 36 months ( EMI based Scheme)., Each loan has a different tenure (please refer to table below).
You can pledge any type of gold jewellery/gold ornaments with us. This includes items such as necklaces, rings, bracelets, watches, 'Polki' sets, pendants, 'Kardahs', etc.
You must repay the loan at any of our branches by cash or cheque. (credit/debit cards and demand drafts are not accepted).
The loan can be repaid at any Muthoot Finance Branch, irrespective of the location. Muthoot Finance’s CBS system is implemented in all branches and allows the customers to repay their loans from any branch. However, the final collection of the pledged gold will have to be from the initial branch where it was pledged.
Yes, you can make partial payment along with interest at any branch of Muthoot Finance/ Online on our website. For e.g., if one has a gold loan of a lakh rupees for a period of 3 months,. he/she may come on the 20th day from the start of the loan and pay 20 days interest and an additional Rs.10000.00 (part payment)., Then, this additional amount will be fully adjusted from the principal amount, and from the 21st day the interest will be charged on Rs.90000.00
The gold which you pledge with us will be given back to you after the loan and the complete amount has been repaid. Failure to repay the loan will result in Muthoot Finance Ltd. reluctantly auctioning off the same. The borrower will be given periodical reminders for payment of overdue interest and after the tenure of loan, a final Notice before the auction. As mentioned earlier, the pledged gold has to be collected from the branch where it was initially pledged and stored.
The minimum amount of our gold loan range is Rs.1500
Yes it is. We understand the sentiment attached to your ornaments and therefore we have installed specialized safe rooms and CCTV cameras for round the clock surveillance in all of our 4200 plus branches. The gold items pledged with Muthoot Finance Ltd. are entered into our systems and all submissions are locked away in tamper proof packaging.
There is no maximum limit.
In order to receive funds against your gold ornaments with Muthoot Finance Ltd., you will have to walk into any of our branches and inform the customer care executive of the same. The executive will then help you fill out a KYC form and guide you through the rest of the process.
This depends on the rate of gold on that date and the purity of gold in the ornaments. This answer can be best answered by your Nearest Muthoot Finance Branch..
You can reach us at 011 3051 3051, or click here for contact us page.You can also voice your concerns on our Facebook page and Twitter handle.
We are the largest Gold Financing Company in India in terms of loan portfolio, according to the 2015 update to the IMaCS Research & Analytics Industry Reports, Gold Loans Market in India, 2015 ("IMaCS Industry Report, (2015 Update)"). We provide personal and business loans secured by gold jewellery, or Gold Loans, primarily to individuals who possess gold jewellery but could not access formal credit within a reasonable time-frame, or to whom credit may not be available at all, to meet unanticipated or other short-term liquidity requirements.
Branches spread over 21 states and 4 Union Territories
Customers in our portfolio