No, there is an amount of cost including service charge + tax.

People frequently believe that a Permanent Account Number (PAN) is only available to those above the age of 18. However, the Income Tax Department has not specified an age limit for PAN Card, which means that children can apply for one.

Applicants can now obtain their PAN Number in just 4 days. The PAN Card verification process is now completed within 4 days from the time of the approval of the PAN Card form online.

You can easily edit your PAN Card through Muthoot Finance branch. Submit another form “Change/Correction in PAN Data” which is available in Muthoot Finance Branch.

The PAN is valid for a lifetime. So you no longer need to worry about the PAN Card validity.

Yes, customers have the flexibility to prepay their loans at Muthoot Finance. One can prepay their auto loan whenever they have the funds available. Higher the interest rate on a car loan, the longer the loan stays outstanding. Prepayment often has a predefined penalty that must be paid - the sum is fairly manageable.

To circumvent that, you are given a reasonable and best-in-the-market vehicle loan interest rate. That being said, follow these recommendations when applying for a loan:

Purchasing an affordable Car - Vehicles with lower ex-showroom prices result in loans with lower interest rates. Make sure you choose the car keeping in mind your budget. 

If you miss your EMI payments for the first three months (90 days), you will only be charged interest and will continue to get calls from the institution to catch up on your payments.

After that, it will be considered default, and action will be taken if you don't pay your EMIs [principal amount + vehicle interest rates] for three consecutive months. A notice of default with a deadline will be given to the concerned person by which he/she must make the required payments or forfeit the car they pledged as collateral.

At Muthoot Finance, customers can pay EMIs [principal + interest rates vehicle loan amount] hassle-free with our 'Muthoot Online' web application. It is a one-stop gateway for repaying different loan amounts like home, gold, vehicle, and personal loans.

Get yourself registered on the application and log in to avail the benefits mentioned below:

The interest rate on a vehicle loan varies depending on factors such as:

●    The type of vehicle one is buying e.g. a two-wheeler or a four-wheeler, commercial vehicle or personal one, new car or a second-hand car.

●    Duration of Loan - Higher interest rates are charged on loans with longer terms, but the EMIs are lower. Shorter tenures, however, result in higher EMIs but lower vehicle loan interest rates.