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Emerging as one of the most popular and safest routes for people to avail financial assistance for their immediate needs, gold loans are a type of secured loan that can be availed against gold assets. The gold is pledged as collateral and on the basis of the value of the gold, as per the current market rate, the total amount of money that you can avail as a loan is calculated by the lender.

Gold is an asset that can easily be sold and bought, making it quite the favourable investment avenue among Indians. However, if there is an emergency and you require quick funds, or if you have some plans, like a marriage, vacation, higher education, etc., that require capital, it isn’t necessary for you to sell your gold. Instead, you can use it as collateral and avail a gold loan to meet those immediate financial needs. After a pre-decided tenure, you can pay the borrowed money, along with the applicable interest, back to the lender and get your gold back. As the gold loan is a secured loan, the rate of interest offered for the same is generally quite low.

Muthoot Finance, according to the Power of Trust Brand Trust Report from 2016 to 2020, is the No. 1 Most Trusted Financial Services Brand in India. Muthoot Finance offers a wide range of gold loan schemes that are designed to meet varying customer needs. Availing a gold loan from Muthoot Finance comes with numerous benefits like minimal documentation, low interest rates, and fast disbursals. However, before you choose the gold loan option that you like best, it is important that you put in some time to calculate your eligibility and possible EMIs, so you can make an informed decision.
 

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

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MUTHOOT
ULTIMATE LOAN (MUL)

  • Maximum loan value and discounts on timely interest payments.
  • Loan Amount: Starting at ₹1,500

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MUTHOOT
DELIGHT LOAN

  • Loan Amount: Starting at ₹50,000
  • Loans upto ₹5 crores - with lower interest rate

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MUTHOOT
MUDRA LOAN

  • Special loan scheme for women that’s available at South India branches.
  • Loan Amount: ₹1,500 to ₹1 lakhs

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MUTHOOT
ADVANTAGE LOAN

  • Competitive per gram and interest rates.
  • Loan Amount: ₹50,000 to ₹5 Crores

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MUTHOOT HIGH VALUE
PLUS LOAN (MHP)

  • Loans curated for the business community.
  • Loan Amount: Starting at ₹2 Lakh

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MUTHOOT
HIGH VALUE LOAN (MHL)

  • Loans which are ideal for longer periods.
  • Loan starting from ₹50,000 and no maximum limit

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MUTHOOT BIG BUSINESS LOANS

  • Low rates of interest with maximum LTV
  • Tenure: 12 months

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BEST VALUE SCHEME (BVS)

  • Offered at South India branches only
  • Loan Amount: ₹50,000 to ₹5 Crores

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HIGH VALUE RETENTION (HVR)

  • Offered at South India branches only
  • Loan Amount: ₹20 Lakhs to ₹5 Crores

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  • GOLD LOAN SCHEMES

    Avail the best interest rates and quick loan disbursals with Muthoot Finance.

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    Begin your gold loan journey with Muthoot Finance today!


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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 -Fresh loan - Rate applicable per account (MBD/MBE)

Rest of India

MBD/MBE-Rs.2,500/loan
4 Security charges- Fresh loan

Rest of India

0.15% of loan amount- Minimum Rs.60/- and Maximum Rs.600/-
5 Token charges- (For schemes except given in Sl no.1, 2, 10 & 11)

Southern Branches

Loan up to Rs.10000/- -->Rs.10/- and Above Rs.10000/- -->Rs.20/-
6 SMS charges

ALL

Rs.5/per quarter at the time of closure or renewal
7 Notice Charges (Applicable for loans under all schemes) Southern Branches

Rest of India
3 ordinary notice Rs.30/each and 4th notice-Registered-Rs.100/-

3 ordinary notice Rs.30/each and 4th notice-Registered-Rs.100/- Auction Notice charges Rs.120/-
8 Token lost charges (Applicable for loans under all schemes)

ALL

Rs.25/-(in addition to cost of stamp paper applicable)
9 Stamp duty levied by State Governments

States🡪Karnataka , Andhra and Rajasthan

Actuals where ever applicable
10 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

11 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

12 Loan @ Home charges

ALL

Upto Rs.500/- for loan @ home services
13 Loan @ Home charges

ALL

If loan amount Amount
>Rs.3 L to Rs.5 L Rs.25/-
>Rs.5 L to Rs.15 L Rs.40/-
>Rs.15 L to Rs.50 L Rs.50/-
>Rs.50 L Rs.75/-
14 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

Who Can Avail Gold Loans by Muthoot Finance?

Any Indian citizen who is above the age of 18 years is eligible to apply for a gold loan. A gold loan is a great way to fulfil short-term financial requirements. However, like any other loan, the gold loan too is subject to eligibility requirements.

If you are thinking of getting a gold loan, you should first check your eligibility using Muthoot Finance’s Gold Loan Calculator, explore interest rates offered under different schemes, and use the gold loan EMI calculator to confirm affordability. The right amount of research in the beginning can help ensure a seamless loan process.

Muthoot Finance offers easy documentation, instant calculation of gold loan eligibility, low interest rates, flexible repayment options, a Gold Loan EMI calculator, and more. Your gold loan eligibility can easily be calculated using the Gold Loan Calculator that is available on the Muthoot Finance website. With no restrictions on the end-use of the money, you can use it for your personal as well as business requirements without worry.

Eligibility Criteria for a Gold Loan

A gold loan ensures great value for your gold, which otherwise may have been sitting idle in a locker somewhere. A gold loan is offered against pledged gold and hence, the maximum amount that you are eligible to avail will depend on the value of the collateral offered. The weight and purity of the gold are important aspects for the calculation of the gold loan amount that you can get.

When it comes to gold loan eligibility calculation, factors like the age of the applicant, their employment status, credit history, or financial stability are not the main criteria for consideration. The gold loan is a special secured loan, the quantum of which depends on the collateral. If a person defaults on their EMI payments, they are given four notices for payment, after which they are sent an auction notice and their gold is auctioned off. This way, lenders do not face a lot of risk and are even able to offer low interest rates for gold loans.

Gold Loan Eligibility Calculation

Eligibility calculation for a gold loan is solely based on the gold being pledged. You can use the Gold Loan Calculator available on the Muthoot Finance website, where according to the current gold rates, the value of your gold can be calculated per gram. The Gold Loan Calculator uses information like the weight of the gold, the type of gold, and the amount you require and provides an approximate value for your gold loan eligibility. You will also need to provide some basic details like your name and contact information for calculating eligibility.

If you want a more precise calculation of your gold loan eligibility, you will need to visit your nearest Muthoot Finance branch with the gold you want to pledge as collateral. The team at the branch will be able to perform an in-house evaluation of the gold, which will give you the exact weight, purity, and value of your gold.

The amount that you will be able to borrow against the gold will not be equal to the total value of the collateral. Subject to RBI guidelines for loan-to-value, the amount will be a little lower than the actual value of the pledge, in order to mitigate the risks faced by the lender.

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Ask an Expert

NORTH, EAST & WEST INDIA TOLL-FREE NO.:
1800 313 1212

SOUTH INDIA CALL CENTER NO.:
99469 01212

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 Finance Merchandise

refer now
*T&C apply

Ask an Expert

NORTH, EAST & WEST INDIA TOLL-FREE NO.:
1800 313 1212

SOUTH INDIA CALL CENTER NO.:
99469 01212

WRITE TO US:
mails@muthootgroup.com

BRANCH TIMINGS:
Mon-Sat, 9:30 AM to 6 PM

WHAT OUR CUSTOMERS HAVE TO SAY

FAQs

A gold loan calculator is a tool that calculates the value of your gold and the amount of loan you may receive against it depending on the karatage of the pledged gold. The applicants' own gold or gold jewellery must be retained as collateral or security by the lender until the loan is fully repaid.

Muthoot Finance's gold loan calculator is a simple, user-friendly online tool for calculating the monthly/quarterly/half-yearly interest/EMI payable on a gold loan. To ensure total convenience for the client, we request the following essential information:
1. Name
2. Email ID
3. Contact no.
4. State
5. Gold Type
6. The amount you require (INR)
7. Gold Weight (gm)

Using the Muthoot Finance gold loan calculator has numerous benefits. Among them are the following:

1. It is a free user friendly tool that may be used on any device.
2. You may use it as many times as you like with different combinations to find the best gold loan for you.
3. Calculations are rapid and precise.

A gold loan eligibility calculator is a tool that may help you determine your eligibility for a gold loan. The eligibility for a gold loan per gram calculator is determined by your age, type of gold, and weight of gold. It computes the maximum loan amount you are qualified for as well as the EMI you can pay. The eligibility calculator is simple to use and convenient.

The Muthoot Finance gold loan calculator is simple to use. It is intended to assist you in determining your gold loan eligibility and the amount of loan you may obtain against your gold. It will also give you an idea of the applicable interest rates and the number of payments required to repay the loan.

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