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gold loan eligibility
Whether you need money urgently for a medical emergency, a wedding, or that long-awaited family vacation, a gold loan serves many purposes. They are a great way to service immediate financial requirements by ensuring that unused gold articles generate value for you. Gold loans have become quite popular in recent with their quick turnaround times (TATs) for disbursal as they do away with the tedious process of a conventional secured loan. With convenient gold loan eligibility calculation, quick disbursals, and low interest rates, availing a gold loan with Muthoot Finance is a seamless affair.
Gold Loans are Safe and Quick
The average person invests his/her hard-earned money in different kinds of financial instruments such as fixed deposits, mutual funds, stocks, as well as real estate. However, most of these investments are for the medium and long term. Most Indian households have gold articles that are usually kept in a bank locker. For short-term or immediate liquidity, gold loans can be availed against unutilized gold jewellery items according to the gold loan eligibility of a person. The pledged gold ornaments are securely kept in lockers under surveillance and are handed back to the customer once the loan has been repaid in full.
Gold Loan Eligibility Calculator
Before availing a loan against your gold jewellery from Muthoot Finance, you have to first decide on your financial requirement. The next step is to find out your gold loan eligibility. Muthoot Finance’s Gold Loan Eligibility Calculator is a quick and convenient way to calculate your gold loan eligibility. You may either do it online on muthootfinance or visit your nearest branch. All you have to do is input details such as name, email ID, contact number, state, pin code, type of the gold articles, the amount needed, and the approximate weight of your gold. Our online gold loan eligibility calculator gives you an approximate value of your gold loan eligibility. It should be noted that the final gold loan eligibility value will be arrived at only after a detailed in-house evaluation of the gold by Muthoot Finance’s experienced team. Apart from the weight of the gold, the purity of the gold and the rate of gold on a particular day is also taken into consideration for calculating one’s eligibility.
Benefit of Using Gold Loan Eligibility Calculator
The main benefit of Muthoot Finance’s online Gold Loan Eligibility Calculator is that even before you visit a branch, you have an idea about the amount of loan you are eligible for. Although your final eligibility for the gold loan would depend on many other factors, an estimated loan value could help you plan accordingly.
Gold Loan Eligibility Calculation (Per Gram)
Gold loan eligibility per gram refers to the percentage of gold value that will be considered for calculating the eligibility for a gold loan. The valuation of your gold will depend upon the weight of the gold articles, the rate of gold on that particular day as well as the purity of the gold. The lender will typically loan a percentage of this value of gold and this is called the gold loan eligibility per gram.
Your gold loan eligibility will depend upon the value per gram of your gold jewellery. Muthoot Finance offers one of the best values for your gold which means your gold loan eligibility becomes significantly higher.
Tenures and Amount of Gold Loans from Muthoot Finance
Muthoot Finance offers its customers the choice of availing a gold loan as per their financial goals and requirements. The many loan schemes from Muthoot Finance offer customers a plethora of choices, ranging from gold loans with the maximum tenure as well as minimum amount gold loans. Based on the needs and the customer’s eligibility for a gold loan, the minimum tenure of a gold loan from Muthoot Finance is of 7 days and the maximum gold loan tenure is of 12 months for normal schemes.
Apart from the minimum and maximum gold loan tenures, Muthoot Finance also offers its customers the flexibility of maximum and minimum gold loan amounts. According to one’s gold loan eligibility, the minimum amount of gold loan that a customer can avail of is as low as Rs 1500. Thus, a customer is spoiled for choice when he/she decides to avail any of Muthoot Finance’s several gold loan schemes. Visit your nearest Muthoot Finance branch to know about all the loan schemes available in detail.
Calculation Of Gold Loan Eligibility
Muthoot Finance’s gold loan calculator available online gives an estimated amount of loan eligibility but the final value is calculated at the branch by the team. There are convenient repayment flexibility options under tailor made schemes made available for varied customer needs.
Key Points to Consider Before Availing Gold Loans
The most important factor to consider before availing a gold loan is your financial requirement and opting for a loan that fits your criteria. Apart from your eligibility for the
gold loan, gold loan eligibility per gram for the gold articles and applicable interest rates of the loan, there are a few charges, terms, and conditions that you should be aware of. These charges may vary according to your state and the loan scheme you have applied for. For details on the terms and conditions, please visit https://www.muthootfinance.com/gold-loan or your nearest branch.
Muthoot Finance, with its vast portfolio of gold loans, promises the best value for your gold, clear terms of gold loan eligibility, flexibility on the minimum and maximum gold loan tenures as well as the maximum and minimum gold loan amount. We value the emotional bond Indians have with their gold jewellery that is often passed down generations. The pledged gold ornaments are securely kept in strong rooms under CCTV surveillance. Once the gold loan is fully repaid, your gold is safely and quickly returned. A huge network of over 5000 branches means that you are never too far away from realizing your dreams.
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
-
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 |
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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
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
Gold Loan Eligibility FAQs
Anyone above the age of 21 is eligible for a gold loan. Muthoot Finance uses a gold loan eligibility calculator which determines the amount of gold you are eligible for based on the amount of gold you have and the purity of the gold. You can check the gold loan eligibility online or visit the nearest Muthoot Finance branch.
Muthoot Finance requires only basic Know Your Customer (KYC) documents to avail of a gold loan. The documents required for a gold loan are loan application, demand promissory note, terms and conditions letter, proof of identity, and proof of address. Depending on the requirements of an applicant, there might be other documents required for a gold loan as well on a case-by-case basis
No, Muthoot Finance eligibility for a gold loan is a minimum of 18 years of age. The applicant should be of Indian nationality and should have a steady source of income. The eligibility for a gold loan also depends on the value and purity of the gold an applicant will pledge to avail a loan.
The gold loan eligibility for Muthoot Finance is a minimum of 21 years of age. Additionally, the applicant should be a resident of India.
According to one’s gold loan eligibility, the minimum loan amount that an applicant can get is INR 1,500. As per the applicant’s needs, one can choose from Muthoot Finance’s several schemes to get the maximum gold loan amount depending on per gram of the pledged gold.
Muthoot Finance gold loan amount per gram depends on the purity and value of the pledged gold. Muthoot Finance uses an eligibility calculator to define the eligibility of an applicant to apply for a gold loan. Check for the latest gold loan amount per gram by applying on the Muthoot Finance website or visiting the nearest branch.
Anyone above the age of 21 is eligible for a gold loan. Muthoot Finance uses a gold loan eligibility calculator which determines the amount of gold you are eligible for based on the amount of gold you have and the purity of the gold. You can check the gold loan eligibility online or visit the nearest Muthoot Finance branch.
Gold Loans are available from Muthoot Finance under flexible programmes for a minimum of 1,500 rupees.
One of the quickest and simplest ways to get money is through a gold loan. The procedure for obtaining a gold loan is simple, and the gold's purity determines the loan amount. A gold loan can be repaid in interest-bearing monthly installments over a specified length of time, just like any other type of loan. Your gold jewellery or other items are given back to you once the loan has been paid off.
Only the most basic KYC documents, such as address and ID, are required and do not require income proof or CIBIL score verification to approve a gold loan.
There are no extra charges apart from service charges and interest.
Anyone above the age of 21 is eligible for a gold loan.
You do not require any CIBIL score verification to approve a gold loan.
No, the value of your gold loan will be determined by the weight of the gold items, the current gold rate, and the purity of the gold and does not depend on Gold Loan
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