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A gold loan or a loan against gold is a secured loan that customers can avail from Muthoot Finance in lieu of gold ornaments like gold jewellery. It is the easiest way to fulfill your financial needs and proves to be a sensible alternative to availing loans from banking channels.
When it comes to taking an instant gold loan by Muthoot Finance, you are ensured of complete customer satisfaction. With quick loan disbursals and attractive rates of interests, Muthoot Finance offers complete ease along with an exemplary experience. Numerous people on the lookout for gold loan providers put their faith in us as we have the largest gold loan portfolio in the country.
We are offering best gold loans in India starting from as low as Rs. 5,000 up to a maximum of Rs. 5 crores. So, when you search for ‘gold loan near me’, we want you to think of us. We provide the best gold loan in India at the lowest interest rates to help fulfil a diverse variety of needs.
Our instant Gold Loan@Home service allows you to get a loan on gold at the comfort of your home in 3 easy steps- Request for a gold loan, get the gold valued at home and get money instantly in your bank account.
Quick
Loan Disbursal
Minimum Loan Amount of
1500 with No Max Limit
Pre and Part Payment
Options
Gold Loan calculator
Calculate your eligibility for a gold loan by Muthoot Finance.
GOLD LOAN SCHEMES
MUTHOOT
ONE PERCENT LOAN
- Small loans at low interest rates.
- Loan Amount: ₹1,500 to ₹50,000
- Online Gold Loan (OGL) facility available
- Loan Amount: ₹1,500 to ₹50,000
- Tenure: 12 months
- Free insurance for pledged gold ornaments
- Scheme with the lowest rate of interest (12% p.a.) if 100% interest is paid monthly
MUTHOOT
ULTIMATE LOAN (MUL)
- Maximum loan value and discounts on timely interest payments.
- Loan Amount: Starting at ₹1,500
- Online Gold Loan (OGL) facility available
- Loan starting from ₹1,500 and no maximum limit
- Tenure: 12 months
- Free insurance for pledged gold ornaments
- Rate of interest is 22% p.a. with 2% rebate if 100% interest is paid monthly
MUTHOOT
DELIGHT LOAN
- Loan Amount: ₹50,000 to ₹5 crores
- Tenure: 12 months
- Online Gold Loan (OGL) facility available
- Loan Amount: ₹50,000 to ₹5 crores
- Tenure: 12 months
- Free insurance for pledged gold ornaments
- Low rates of interest
MUTHOOT
MUDRA LOAN
- Special loan scheme for women that’s available at South India branches.
- Loan Amount: ₹1,500 to ₹1 lakhs
- Offered at South India branches only
- Loan Amount: ₹1,500 to ₹1 lakhs
- Highly discounted rate of 11.9% p.a.
MUTHOOT
ADVANTAGE LOAN
- Competitive per gram and interest rates.
- Loan Amount: ₹50,000 to ₹5 Crores
- Online Gold Loan (OGL) facility available
- Offered at branches in South India
- Loan Amount: ₹50,000 to ₹5 Crores
- Tenure: 12 months
- Free insurance for pledged ornaments
- Attractive interest rate of 18% p.a.
MUTHOOT HIGH VALUE
PLUS LOAN (MHP)
- Loans curated for the business community.
- Loan Amount: ₹1,90,000 to ₹5 crores
- Online Gold Loan (OGL) facility available
- Loan Amount: ₹1,90,000 to ₹5 crores
- Tenure: 12 months
- Free insurance for pledged gold ornaments
- Interest rates as low as 14% p.a.
- Maximum Loan Value offered
MUTHOOT
HIGH VALUE LOAN (MHL)
- Loans which are ideal for longer periods.
- Loan starting from ₹50,000 and no maximum limit
- Online Gold Loan (OGL) facility available
- Loan starting from ₹50,000 and no maximum limit
- Tenure: 12 months
- Free insurance for pledged ornaments
- Interest rate as on date as low as 15% p.a.
- Maximum Loan Value offered
- Offered at branches in South India
MUTHOOT BIG BUSINESS LOANS
- Low rates of interest with maximum LTV
- Tenure: 12 months
- Low rates of interest with maximum LTV
- Tenure: 12 months
- Free insurance for pledged gold ornaments
- Online Gold Loan (OGL) facility available
- Loan Amount: ₹5 Lakhs to ₹500 lakhs as per Schemes
- Muthoot Big Business Loan Silver @12.9% p.a.
- Muthoot Big Business Loan Platinum @11.9% p.a.
- Muthoot Big Business Loan Diamond @10.9% p.a.
- Muthoot Big Business Loan Elite@ 10.5% p.a.
BEST VALUE SCHEME (BVS)
- Offered at South India branches only
- Loan Amount: ₹50,000 to ₹5 Crores
- Offered at South India branches only
- Loan Amount: ₹50,000 to ₹5 Crores
- Highly discounted rate of 14% p.a.
- Tenure: 12 months
- Free insurance for pledged ornaments
HIGH VALUE RETENTION (HVR)
- Offered at South India branches only
- Loan Amount: ₹10 Lakh to ₹5 crores
- Offered at South India branches only
- Loan Amount: ₹10 Lakh to ₹5 crores
- Lowest interest rate of 10.9% p.a.
- Tenure: 12 months
- Free insurance for pledged ornaments
MUTHOOT
ONE PERCENT LOAN
- Small loans at low interest rates.
- Loan Amount: ₹1,500 to ₹50,000
MUTHOOT
ULTIMATE LOAN (MUL)
- Maximum loan value and discounts on timely interest payments.
- Loan Amount: Starting at ₹1,500
MUTHOOT
MUDRA LOAN
- Special loan scheme for women that’s available at South India branches.
- Loan Amount: ₹1,500 to ₹1 lakhs
MUTHOOT
ADVANTAGE LOAN
- Competitive per gram and interest rates.
- Loan Amount: ₹50,000 to ₹5 Crores
MUTHOOT HIGH VALUE
PLUS LOAN (MHP)
- Loans curated for the business community.
- Loan Amount: ₹1,90,000 to ₹5 crores
MUTHOOT
HIGH VALUE LOAN (MHL)
- Loans which are ideal for longer periods.
- Loan starting from ₹50,000 and no maximum limit
BEST VALUE SCHEME (BVS)
- Offered at South India branches only
- Loan Amount: ₹50,000 to ₹5 Crores
HIGH VALUE RETENTION (HVR)
- Offered at South India branches only
- Loan Amount: ₹10 Lakh to ₹5 crores
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GOLD LOAN SCHEMES
Avail the best interest rates and quick loan disbursals with Muthoot Finance.
Get More Details
Service Charges relating to Gold Loan
SL No. | Type of Charges | Corporate | Rate of charges applicable | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1 | Service charges -Fresh loan- Rate applicable on loan amount(IPL) |
Southern Branches |
IPL (1%) (For 12 months period only) | ||||||||||
2 | Service charges -Fresh loan- Rate applicable per account (ZIL/ZIP) |
ALL |
ZIL/ZIP-Rs.50/loan | ||||||||||
3 | Service charges on fresh loan under MEI scheme |
ALL |
0.60% of loan amount | ||||||||||
4 | Top-up services charges - Rate applicable on enhnaced amount |
All |
2% of enhanced amount (For GL schemes having 1st slab ROI <15% with rebate facility) | ||||||||||
5 | Security charges- Fresh loan |
Rest of India |
0.15% of loan amount- Minimum Rs.100/- and Maximum Rs.1,000/- | ||||||||||
6 | Token charges- (For schemes except given in Sl no.1, 2, 10 & 11 |
Southern Branches |
Loan up to Rs.1,00,000/- --> Rs.20/-
Above Rs.1,00,000/- --> Rs.100/- Where 1st slab interest rate is <13% after rebate, other cases Rs.50/- |
||||||||||
7 | SMS charges | ALL | Rs.5/per quarter at the time of closure or renewal | ||||||||||
8 | Notice Charges (Applicable for loans under all schemes) |
Southern Branches
Rest of India |
3 ordinary notice Rs.30/each and 4th notice-RegisteredRs.100/-
3 ordinary notice Rs.30/each and 4th notice-RegisteredRs.100/- Auction Notice charges Rs.120/- |
||||||||||
9 | Token lost charges (Applicable for loans under all schemes) |
ALL |
Rs.25/-(in addition to cost of stamp paper applicable) | ||||||||||
10 | Safe Custody Charges |
ALL |
Rs.5/per gram per month, payable at the time of closure or renewal |
||||||||||
11 | Stamp duty levied by State Governments |
States:- Karnataka , Andhra and Rajasthan |
Actuals where ever applicable |
||||||||||
12 | GCS |
Southern Branches |
1.Rs.999/- per 6 months (in case the limit is not used over a period of 6 months) 2.If the transaction is through branches then Rs.99/- per transaction |
||||||||||
13 | GCL |
Rest of India |
1.Rs.999/- per 6 months (in case the limit is not used over a period of 6 months) 2.Part release charges of Rs.499/- per transaction 3.If the transaction is through branches then Rs.99/- per transaction |
||||||||||
14 | Loan @ Home charges |
ALL |
Upto Rs.500/- for loan @ home services |
||||||||||
15 | CAC (Credit Appraisal Charges) – If total exposure > Rs.3 L |
Southern Branches |
|
||||||||||
16 | Door to Door collection charges (Follow up for interest / loan recovery) |
Southern Branches |
Rs.150/- plus GST per customer for recovery made through customer follow up visit |
What is a Gold Loan?
Gold loan as the name suggests is a financing option that allows you to obtain funds against your gold ornaments. In India, the concept of borrowing money by pledging gold is centuries old. But over the years, the process has become more streamlined, and traditional moneylenders/pawnbrokers have been replaced by authorised lending institutions.
In this type of loan, you can obtain a certain percentage of the total value of your gold ornaments. In return, You need to pay interest that is calculated based on a pre-decided rate. The loan amount you can avail is influenced by various factors, such as the purity of gold in karats and the gold rate todayin the market.
This loan can also be repaid in small monthly instalments, and once the complete payment is done (principal amount + interest), you can claim your gold ornaments back. Unlike other popular loans, gold loans do not come with any kind of restriction in terms of fund usage. You can use the obtained funds for any purpose you want.
Muthoot Finance has the reputation of being one of the renowned and most trusted gold loan providers in India. If you wish to avail a gold loan, check your gold loan eligibility and reach out to us to start the application process. Or, you can also visit your nearest Muthoot Finance branch for more details.
Features of Gold Loan
Every individual has certain phases in life where the need for some financial aid arises. From educational expenses to business expansion, medical emergencies to unexpected travel, the reason could be anything. In such situations, obtaining a gold loan is the easiest and fastest way to arrange the required amount of money. One can pledge his/her gold ornaments to get access to funds and claim them back after repaying the loan.
Here are the key features offered by a gold loan:
- Gold Loan Lower Interest Rates
- Simplified Application Procedure
- Flexible Eligibility Criteria
- Quick Loan Disbursal
- No Restriction on Fund Usage
- Complete Ornament Safety
- Minimal Documentation
- Easy Repayment
Why Choose a Gold Loan?
Here are a few reasons why gold loans are a preferred financing option:
- Gold loans are available at highly competitive interest rates, and the application procedure is also very simple.
- Since your pledged gold ornaments act as collateral, these loans do not require complex documentation.
- The loan approval is very quick, which makes gold loans a suitable choice for emergency situations.
- These loans not only allow you to choose a tenure as per your convenience but also come with flexible repayment options as well.
At Muthoot Finance, you can avail the best interest rates when you avail a gold loan.
Calculator for Gold Loan
You can calculate your eligibility for availing a gold loan by Muthoot Finance by using the Gold Loan Calculator. All you are required to do is enter details such as name, email-id, contact number, gold type, the amount you require, and few other details.
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NORTH, EAST & WEST INDIA TOLL-FREE NO.:
1800 313 1212
SOUTH INDIA CALL CENTER NO.:
99469 01212
(Mon-Sat, 9:30 AM to 6 PM)
WRITE TO US:
mails@muthootgroup.com
BRANCH TIMINGS:
Mon-Sat, 9:30 AM to 6 PM
Refer a Friend*
Refer a friend & get a Chance to
Win Exciting Muthoot Group Merchandise
Ask an Expert
NORTH, EAST & WEST INDIA TOLL-FREE NO.:
1800 313 1212
SOUTH INDIA CALL CENTER NO.:
99469 01212
(Mon-Sat, 9:30 AM to 6 PM)
WRITE TO US:
mails@muthootgroup.com
BRANCH TIMINGS:
Mon-Sat, 9:30 AM to 6 PM
Why Avail A Gold Loan From Muthoot Finance?
India's No. 1 Most Trusted Financial Services Brand by Power of Trust, TRA's Brand Trust Report for 6 years since 2016. It is widely trusted for availing the best gold loan in India. Muthoot Finance is a company that provides the best gold loan at lowest interest rates. It also offers different gold loan schemes that you can choose as per your requirement. Each scheme comes with its own advantage and caters to different types and needs of customers.
Muthoot Finance is regarded as the most popular gold loan providers in India, so expect utmost ease and transparency when you avail a gold loan from us.
At Muthoot Finance, we are well aware of the customer’s sentiment attached with the ornaments. Thus, we have put in place specialized safe rooms as well as CCTV cameras for the purpose of round-the-clock surveillance in our every branch. We enter the gold items pledged with Muthoot Finance Ltd. into our systems and every submission is locked away in a packaging that is tamper-proof. All the gold ornaments/jewellery of our customers is safe and secure with us.
WHAT OUR CUSTOMERS HAVE TO SAY
If you are looking for a gold loan, I would 100% suggest that you visit Muthoot Finance. They have a lot of schemes that you can choose from, based on your requirements and the process to avail the loan is very simple.
Sunil B
I was searching for a gold loan near me and that is when a lot of people suggested me to go for Muthoot Finance. It is counted amongst the most popular gold loan providers in India so it was a logical choice as well. I got the exact amount that I needed and I am glad I chose them. A thing that I liked the most about is that they provide pre and part payment options.
Megha Patil
I chose to avail a gold loan from Muthoot Finance as it is one of the most trusted gold loan providers and I had only heard good things about their services. The great thing about availing a gold loan from here is that you are offered different benefits such as quick loan disbursal, minimum documentation, etc. Taking a gold loan from the company is really easy. They have quite a simple process for availing a gold loan.
Sneha Singh
Gold Loan FAQs
Let’s take a close look at the advantages of availing a gold loan from Muthoot Finance, the company that offers the best gold loan in India
- Fast loan disbursal
- Customer oriented Services
- Minimal documentation
- In-house gold evaluation
- Get minimum loan amount of ₹1500 and no maximum limit
- Pre-payment option-with no penalty
- Strong rooms put in place for providing safe custody of gold ornaments
- Prompt customer service within a shorter response time
Any major Indian citizen is eligible to avail a gold loan from us. All they are required to do is provide the required documents along with the gold ornaments.If you wish to apply for a gold loan with us, visit our nearest branch by searching for ‘Muthoot Finance gold loan near me’ on the web.
The only security that is needed from the end of the customer to avail our gold loan is the gold they pledge. There is no requirement for an external/third party guarantor for the same. The loan gets sanctioned against the gold pledged.
There is no minimum tenure of gold loan. However interest is charged for minimum period of 7/15 days depending upon the gold loan scheme chosen.
The maximum tenure is 12 months.
You can pledge any type of gold ornaments/gold jewellery with us. This includes items like rings, necklaces, watches, bracelets, 'Kardahs,' pendants, 'Polki' sets, and more. You can always consult our executives at your nearest Muthoot Finance branch for the exhaustive list.
You can repay your loan on gold at any of our branches by cheque, cash, or debit cards (please note that demand drafts and credit cards are not accepted). You can even repay your loan against gold online by using iMuthoot mobile application or Online Webpay facility. To visit our Online Webpay facility, click here.
The loan can be repaid at any Muthoot Finance branch, no matter the location. The CBS system of Muthoot Finance is implemented in every branch and lets customers repay their loan at any particular branch. But, it is important to note that the final collection of the gold needs to be done from the initial branch where it was pledged.
As for partial repayment, you can pay that along with interest at any of our branches or online on our website.
For instance, if a person has a gold loan of ₹1,00,000.00 for a period of 3 months. The person may come on the 20th day from the loan’s start and pay 20 days interest and an additional ₹10,000.00 (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 ₹90,000.00.
You will receive back the gold which you pledge with Muthoot Finance after you repay the loan and the complete amount. If you fail to repay the loan, then Muthoot Finance Ltd will reluctantly auction off the same. The borrowers will receive periodical reminders for payment of overdue interest and after the tenure of the loan, a final Notice before the auction.
Another important thing to know about the gold loan offered by us is that the pledged gold is required to be collected from the branch where it was initially pledged as well as stored.
The minimum amount of the gold loan range by Muthoot Finance is ₹1500.
At Muthoot Finance, we are well aware of the customer’s sentiment attached to the ornaments. Thus, we have put in place specialized safe rooms as well as CCTV cameras for the purpose of round-the-clock surveillance in our every branch. We enter the gold items pledged with Muthoot Finance Ltd. into our systems and every submission is locked away in a packaging that is tamper-proof.
So, you can remain worry free and avail a gold loan in an easy process from Muthoot Finance.
There is no maximum limit on the Muthoot Finance gold loan.
If you wish to apply for a gold loan with us, you can visit any of our branches and talk to a customer care executive. The executive will assist you in filling out a KYC form for Gold Loan and provide you guidance for the process that follows.
This is dependent on the purity of gold in the ornaments and the rate of gold on that date. So, for this, please visit your nearest Muthoot Finance Branch. To locate a branch of Muthoot Finance near you, simply search ‘Muthoot Finance gold loan near me’ on the internet.
You can click here for contact us page or call at 1800 313 1212. You can also voice any concerns that you may have on our Twitter handle and Facebook page.
With us, you can rest assured that only excellent services will be offered. Muthoot Finance offers the best gold loans at lowest interest rates.
You can pay the loan amount before the completion of your loan tenure by paying the interest, without having to pay any foreclosure charges or prepayment penalties.
Muthoot Finance understands the emotional attachment that customers have to their jewellery. As a result, we have installed specialised safe rooms as well as CCTV cameras in each of our branches for round-the-clock surveillance. We enter the gold goods committed with Muthoot Finance Ltd. into our systems, and each submission is stored in tamper-proof packaging. Hence, you may relax and get a gold loan from Muthoot Finance in a simple method.
No, a co-applicant is not required in order to obtain the Muthoot Finance gold loan. In order to proceed with the registration, you must give all of the basic information for the gold loan as specified by the company's terms and conditions. This comprises declarations and commitments made by the borrower and confirmed by him, as well as any additional papers requested by the organisation.
If an individual fails to repay the loan on time, the lender typically initiates a grace period for repaying the loan. If the loan remains outstanding beyond this period, the lender may charge additional penalties or interest. In rare prolonged non-payment cases, the lender can auction the gold pledged to recover the outstanding balance. It is essential to communicate with the lender and discuss options, such as loan restructuring or extension, to avoid default or potential loss of the pledged gold.
The loan-to-value ratio for gold loans varies from lender to lender and depends on prevailing market conditions. It typically ranges from 70% to 90%. The LTV ratio indicates the percentage of the market value of the pledged gold that the lender is willing to loan. Most lenders may adjust this ratio based on specific factors, such as the purity of the gold, risk assessment, and the loan amount. Always check with the lender for their particular LTV policies.
Taking a gold loan directly does not instantly impact your credit score, as it is a secured loan where your gold serves as collateral. The lender does not report repayment behaviour to credit bureaus unless there is a default in the repayment of the loan amount. Paying the loan on time can severely affect your credit score as it reflects negatively on your credit history. Responsible repayment of gold loans can help you improve your credit score by demonstrating good financial management.
Yes. A borrower can renew their gold loan after the initial tenure ends under particular conditions. Renewal typically involves paying off the outstanding principal balance and accruing interest, after which you can extend the loan with the same pledged gold as collateral. Lenders may reassess the gold’s value and adjust terms and conditions based on the prevailing market conditions. It allows you to continue using the same collateral for liquidity without needing to pledge new assets.
Taking a gold loan does not have direct income tax implications since it is a loan against a physical asset, gold. Interest paid on the loan is not eligible for tax deductions under standard income tax protocols. However, if you sell the gold to repay the loan and generate a profit, you may be subject to capital gains tax depending on the holding period and applicable tax laws. Consult with a tax advisor as a necessary step for specific guidance tailored to your situation.
An overdraft gold loan functions like a regular credit line where you can withdraw funds up to a pre-approved amount against your pledged gold. Interest is charged only on the amount you withdraw and for its utilised duration. On the other hand, a regular gold loan provides a lump sum amount based on the value of the pledged gold, with fixed repayment periods and interest calculated on the entire loan amount.
Covid-19 Gold-Loan FAQs
Under the regulatory relief package declared by Reserve Bank of India, Moratorium would mean a temporary postponement of payment of principal/interest/ instalment of a loan upto a maximum period of 3 months.
No waiver of any sorts is envisaged under the Moratorium.
Yes. To a limited extent.
Moratorium will be applicable for gold loans which are active as on 01.03.2020 and completing the sanctioned period of 12 months on or before 31.05.2020.
We have extended the tenure of all gold loans which are falling due for payment, on expiry of the sanctioned period of twelve months between 01.03.2020 to 31.05.2020 by 90 days.
If the gold loan was availed on 15.03.2019 and falls due for payment on 08.03.2020 on expiry of 360 days period, the due date will be shifted to 06.06.2020, i.e., by 90 days.
No. You will be given 90 extra days for closing/ renewing the loan. You may, at any time during the extended period, close/renew the loan by paying the full interest at the then prevailing LTV.
Yes. Interest will continue to be applied on the loan at the applicable rate as on the date of extension of the period, as per the agreed terms and conditions.
Yes. You are welcome to service the interest and / or make part payment towards the principal, which will reduce your liability and the burden of repaying the full amount on maturity.
We will certainly look at such cases sympathetically and take a decision on a case to case basis after our branches reopen. Such requests for concessions can only be processed by the branches.
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