- Gold Loan
- Money Transfer
- Mutual Funds
GO CASHLESS WITH MUTHOOT FINANCE
Loan Disbursement Options
- Instant Cash*:Come to our branch and get instant cash from your loan amount.
- Pre-Paid Visa Card: Get a card & PIN instantly to immediately use your loan amount credited onto the card. No need for a bank account or waiting for a card. Do online transactions and lots more.
- Online Payment: Disbursement of loan through direct bank credits (RTGS / NEFT / IMPS / Net Banking).
Digital Customer Services
- Aadhar Card-Enabled E-KYC:Customer onboarding through E-KYC \ bio-metric fingerprint scanning.
- iMuthoot App:View your account statement and balance, locate nearest branches and avail the QuickPay facility.
- Webpay Facility:Avail online Gold Loan, pay principal & interest online, along with part payment, free top-up and multiple withdrawal facilities.
*Terms & Conditions apply. Applicable on loans less than ₹1 Lac only. Cash Component at the sole discretion of Muthoot Finance.
Cash is subject to availability.
MUTHOOT FINANCE DCB VISA CARD
- The card is being branded as “Muthoot Finance DCB VISA Card”.
- Gold Loans up to ₹ 50000/- can be disbursed through the “Muthoot Finance DCB Visa card”. Part disbursal of loan through the card is not permitted. Further, the gold loan amount can be loaded to the card, subject to maximum limit of ₹50000/-.
- Card withdrawal through any of our branches by using the loaded “Muthoot Finance DCB Visa card” is permitted, provided sufficient cash is available at the paying branch.
- At present, cash disbursement through our branches is limited to ₹5000/- in a day and ₹10000/- in a week. The limit will be revised as and when the situation improves.
- Cash can be withdrawn from any ATM by using the “Muthoot Finance DCB Visa card”. However, a service charge of ₹20 + tax as a applicable per withdrawal shall be levied for the same. At present, cash withdrawal limit through ATM is ₹2000/- per day as per RBI guidelines. The same will be revised as per Govt. /RBI guidelines from time to time.
- “Muthoot Finance DCB Visa Card” will be accepted ay any shop / merchant establishment where VISA debit cards are accepted and the customer will not be charged for the same.
- The “Muthoot Finance DCB Visa Card” is being issued free of cost by us as an introductory offer.
WHAT OUR CUSTOMERS HAVE TO SAY
When you need a loan for a decent amount and don’t have a bank account, Muthoot Finance’s Cashless services are your best bet. The loan amount will be disbursed via a Muthoot Finance DCB Visa Card that you can use as a normal prepaid card to get the money.
Having transacted with Muthoot Finance, I have to say that the digital services they offer make them stand apart. From the iMuthoot App to the Webpay Facility, there are a lot of convenient features for you to avail.
Go cashless with Muthoot Finance’s pre-paid visa card. If you are unable to get the loan amount disbursed to your account, you can opt for the Muthoot Finance DCB Visa Card, which is truly a boon, especially for people who don’t have a bank account.
Government of India had waived charges for usage of debit cards up to 31/12/2016. However, Banks might start charging from January 2017 onwards. As an incentive for promoting the usage of POS machines, we have decided not to pass on the charges (in respect of payment of interest) to the customers for the time being. The position will be reviewed thereafter.
Credit cards/foreign cards cannot be used for the payment of loans/interest as this will be in violation of the regulatory guidelines specifying that credit cards can be used only for the purchase of goods and services. Violation of this instruction will invite disciplinary action, apart from the recovery of the charges levied by the bank.
Though we have not fixed any such limit, the limits set by the card-issuing banks/government will apply and any swiping above such limits will result in failure of the transaction.
All the cards are protected with a PIN number to prevent misuse. PIN numbers are not to be shared with any third party due to the possibility of frauds. The customers’ presence in the Branch is therefore required for entering the PIN number after swiping the card. The question of allowing a third party to swipe the card for making payment does not therefore arise.
Automation of the process is still not completed. As the entries are posted manually in CBS quoting the transaction number, it may be better not to attempt multiple transactions in one swipe.
In case of failed transactions, the customers’ bank accounts are not debited. However, if it happens, reversal will immediately happen. In rare cases where such refunds are not received by the customer within 48 hours, the matter should be taken up by the customer with his bank.
Since the receipts are printed on thermal paper, the printing will fade after a few months. Once the transaction number is input and the entry is recorded, we do not need the receipt to be preserved as record.
Card can be used for making payment towards a loan account maintained with another Branch. The instructions / procedures stipulated for accepting remittances on behalf of other Branches should be followed by the Branch accepting such payments.
The receipt will be generated by the POS machine only if the transaction is successful. For all successful transactions, the amount taken out of the customer’s account through the Debit Card will be credited to our pool account with the sponsoring Bank within T + 1 day. Branches can release the gold ornaments against POS successful transactions.