Manappuram Finance Gold Loan Interest Rates

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Manappuram gold loan interest rate starts at 12.00%. The loan can be used to meet any financial emergency or need. Many use the funds for marriage, education, travel, home renovation, vehicle repair, debt consolidation, working capital, business expansion, agricultural activities, etc. The rate of interest depends on gold asset’s purity and weight.

NOTE: Manappuram Finance even has an online gold facility, wherein you can apply for the loan on the website or mobile app, and make the repayments through the app itself.

At Loanbaba, you will find all the details of Manappuram gold loan rate and jewel loan scheme.

Gold Loan Manappuram Finance

Details

Manappuram Gold Loan Rate

Starts at 12.00%

Processing Fee

At the time of settlement the processing fee is Rs. 10

Tenure

1 day to 12 months

Loan Amount

Rs. 1,000 to Rs. 1.5 Crore

Prepayment Charges

Nil

Jewel Loan Scheme

Bullet repayment scheme or EMI scheme

Manappuram Finance Gold Loan Interest Rates 2019 Information

The Manappuram jewel loan interest rate details are as follows:

  • The base rate is 12%. But due to high loan to value, rate of interest may increase by 3% to 12% over the base rate.
  • Maximum rate of interest is 29% per annum.
  • A penal rate of 3% per annum is applicable over the actual rate of interest on overdue amount, if you muss the scheduled loan repayments.

Manappuram Finance Gold Loan

Below-mentioned are features of gold loan Manappuram Finance:

  • Quantum of finance is up to Rs. 1.5 crore
  • Full transparency, no hidden charges
  • Free security and custody for gold as pledged asset
  • Paperless transaction and loan application from your mobile phone
  • 24X7 online repayment

Documents Required for Manappuram Finance Gold Loan

Listed below are the documents needed to apply for Manappuram jewel loan.

  • Identity proof: You can submit any one of these documents - PAN card, Passport, Driving license or Voters ID card as your Identity proof.
  • Address proof: You can submit any one of these documents - ration card, telephone bill, sales tax certificate, electricity bill, passport, lease agreement or trade license as address proof. Also submit recent passport-sized photographs along.

NOTE: You will also need 2 recent passport-sized photographs and PAN card (mandatory).

Manappuram Finance Gold Loan Interest Rate Calculator

The calculation of Manappuram gold loan rate depends on the below-given aspects.

  • Loan Value

The loan amount sanctioned depends on weight and purity of gold jewellery. Manappuram Finance has a rate per gram for gold depending on its purity. A higher loan amount will apply a lower rate of interest, and vice-versa.

  • Tenure

A longer tenure reduces the monthly EMI burden. But you have to pay a higher interest amount due to taking the loan for a longer tenure. In shorter tenure, though the EMI amount is more, the interest payout overall is lower than that on longer tenure. So, the cost of loan depends on the chosen tenure.

  • Relationship with the Financial Institution

If you had taken a loan in the past at the NBFC and repaid the same in a timely manner, then you are likely to receive a lower rate of interest given a good relationship with the financial institution.

  • Repayment Capacity

Too many ongoing debts may deter the NBFC from sanctioning a loan because your repayment capacity is low. However, if you have a fewer financial liabilities and are able to comfortably repay, the loan amount you have applied for, then you have a good repayment capacity, which convinces the financial institution to provide you funds and a lower rate of interest.

How to Apply for Manappuram Finance Gold Loan?

Below-given are ways to apply for a jewel loan with the financial institution.

  • Offline Method: Walk into any of the branches of Manappuram Finance and apply for the jewel loan you are interested in. You must get all the details about the loan scheme from customer executives so as to make the right choice. You will have to fill the loan application form, attach the required documents, provide PAN card, and recent passport-sized photographs. The gold you wish to pledge will be evaluated on weight and purity to determine the rate of interest, tenure, and the loan amount.
  • Online Method: You can download the online gold loan app on your smartphone or device and apply for the jewellery loan online. Or you may even drop the loan application on the official website of Manappuram Finance. As the application is on the internet, you can simply attach soft copy of the documents. Gold valuation has to be done in the premises of the financial institution.
  • Disbursal Process: The amount sanctioned will not be handed in cash but transferred to your registered bank account. The disbursal is instant after loan approval and can be completed within a few minutes or hours. This is why, a jewel loan is known as a way to overcome financial emergencies, because you can get the funds within a day or less.

Frequently Asked Questions on Manappuram Finance Gold Loan Interest Rate and Loan Scheme

Below-provided are FAQs about jewel loan by the financial institution.

  • addFAQs
    1. What is the Manappuram gold loan rate per gram by gold purity?
    2. The table below shows an estimate of what loan will the financial institution offer on per gram gold considering different purity levels. The estimates are based on the maximum LTV of 75% and minimum 65%.

      Target Group

      Indian Women (Residents) – Both working and non-working women can apply for the loan.

      The working women should be permanent employees of central or state government. They can also be employees in the PSUs, government schools or any other govt aided institutions. However, women professionals like Doctors, chartered accountants, engineers can also apply

      If the woman is a non-working, then she should be able to show the income proof of her spouse or a relative who becomes the co-borrower of the loan.

    3. What is Bank of India Star Mahila gold loan scheme?
    4. Below-mentioned are details about BOI Star Mahila jewel loan scheme.

      Purity of Gold

      Rate/gram- considering previous 30 days average

      Manappuram rates per gram at maximum

      Manappuram rates per gram - minimum

      22 carat

      Rs. 31,411

      Rs. 2,356

      Rs. 2,042

      20 carat

      Rs. 28,555

      Rs. 2,356

      Rs. 1,856

      18 carat

      Rs. 25,700

      Rs. 1,927

      Rs. 1,670

      This might have definitely helped you understand the method how the NBFC calculates loan rates on per gram of gold with different purity levels.

      • The loan amount per gram for 22 carat gold lies between Rs. 2,042 to Rs. 2,356.
      • The loan amount per gram for 20 carat gold lies between Rs. 1,856 to Rs. 2,356.
      • The loan amount per gram for 18 carat gold lies between Rs. 1,670 to Rs. 1,927.
    5. What are the rates of interest and penal charges on Star Mahila gold loans?
    6. Below-provided are details about BOI interest rate and penal charges for loan against gold.

    7. What is the mode of calculation for rate of interest?
    8. The mode of calculation for gold loan Manappuram is given below.

      • The interest rates shall be charged annually.
      • The interest rates apply only on the outstanding balance of the loan.
      • To calculate the interest rates, the number of days per year shall be 360 days.
      • The compounding method will apply only in specific loan schemes.
      • The loans offered have a fixed rate until the account closes.
    9. How do risk-related rates work?
    10. Below-given is information of how risk-related rates work.

      • A higher LTV – loan per gram – attracts higher interest rates.
      • The rate of interest may vary time to time and will apply considering the different loan schemes.
    11. What is the maximum rate of interest?
    12. The interest rates will not exceed 29%.

    13. Is there a penalty or overdue interest?
    14. If the loan is unpaid beyond the normal tenure, the financial institution charges a penal interest of 3% per annum on the due amount on a regular basis until the loan is closes.

    15. What are the other charges of gold loan Manappuram Finance?
    16. Other than the interest rates, other charges that may apply are as follows:

      • Processing charges – The minimum processing charges are Rs. 10 that needs to be paid during settlement.
      • Prepayment/ foreclosure fee – Prepayment of loan is allowed with no extra charges applicable.

Disclaimer: Information is gathered from secondary sources and meant for reference only. Loanbaba is not a channel partner of Manappuram Finance for gold loan.

Manappuram gold loan interest rate starts at 12.00%. The loan can be used to meet any financial emergency or need. Many use the funds for marriage, education, travel, home renovation, vehicle repair, debt consolidation, working capital, business expansion, agricultural activities, etc. The rate of interest depends on gold asset’s purity and weight.

NOTE: Manappuram Finance even has an online gold facility, wherein you can apply for the loan on the website or mobile app, and make the repayments through the app itself.

At Loanbaba, you will find all the details of Manappuram gold loan rate and jewel loan scheme.

Gold Loan Manappuram Finance

Details

Manappuram Gold Loan Rate

Starts at 12.00%

Processing Fee

At the time of settlement the processing fee is Rs. 10

Tenure

1 day to 12 months

Loan Amount

Rs. 1,000 to Rs. 1.5 Crore

Prepayment Charges

Nil

Jewel Loan Scheme

Bullet repayment scheme or EMI scheme

Manappuram Finance Gold Loan Interest Rates 2019 Information

The Manappuram jewel loan interest rate details are as follows:

  • The base rate is 12%. But due to high loan to value, rate of interest may increase by 3% to 12% over the base rate.
  • Maximum rate of interest is 29% per annum.
  • A penal rate of 3% per annum is applicable over the actual rate of interest on overdue amount, if you muss the scheduled loan repayments.

Manappuram Finance Gold Loan

Below-mentioned are features of gold loan Manappuram Finance:

  • Quantum of finance is up to Rs. 1.5 crore
  • Full transparency, no hidden charges
  • Free security and custody for gold as pledged asset
  • Paperless transaction and loan application from your mobile phone
  • 24X7 online repayment

Documents Required for Manappuram Finance Gold Loan

Listed below are the documents needed to apply for Manappuram jewel loan.

  • Identity proof: You can submit any one of these documents - PAN card, Passport, Driving license or Voters ID card as your Identity proof.
  • Address proof: You can submit any one of these documents - ration card, telephone bill, sales tax certificate, electricity bill, passport, lease agreement or trade license as address proof. Also submit recent passport-sized photographs along.

NOTE: You will also need 2 recent passport-sized photographs and PAN card (mandatory).

Manappuram Finance Gold Loan Interest Rate Calculator

The calculation of Manappuram gold loan rate depends on the below-given aspects.

  • Loan Value

The loan amount sanctioned depends on weight and purity of gold jewellery. Manappuram Finance has a rate per gram for gold depending on its purity. A higher loan amount will apply a lower rate of interest, and vice-versa.

  • Tenure

A longer tenure reduces the monthly EMI burden. But you have to pay a higher interest amount due to taking the loan for a longer tenure. In shorter tenure, though the EMI amount is more, the interest payout overall is lower than that on longer tenure. So, the cost of loan depends on the chosen tenure.

  • Relationship with the Financial Institution

If you had taken a loan in the past at the NBFC and repaid the same in a timely manner, then you are likely to receive a lower rate of interest given a good relationship with the financial institution.

  • Repayment Capacity

Too many ongoing debts may deter the NBFC from sanctioning a loan because your repayment capacity is low. However, if you have a fewer financial liabilities and are able to comfortably repay, the loan amount you have applied for, then you have a good repayment capacity, which convinces the financial institution to provide you funds and a lower rate of interest.

How to Apply for Manappuram Finance Gold Loan?

Below-given are ways to apply for a jewel loan with the financial institution.

  • Offline Method: Walk into any of the branches of Manappuram Finance and apply for the jewel loan you are interested in. You must get all the details about the loan scheme from customer executives so as to make the right choice. You will have to fill the loan application form, attach the required documents, provide PAN card, and recent passport-sized photographs. The gold you wish to pledge will be evaluated on weight and purity to determine the rate of interest, tenure, and the loan amount.
  • Online Method: You can download the online gold loan app on your smartphone or device and apply for the jewellery loan online. Or you may even drop the loan application on the official website of Manappuram Finance. As the application is on the internet, you can simply attach soft copy of the documents. Gold valuation has to be done in the premises of the financial institution.
  • Disbursal Process: The amount sanctioned will not be handed in cash but transferred to your registered bank account. The disbursal is instant after loan approval and can be completed within a few minutes or hours. This is why, a jewel loan is known as a way to overcome financial emergencies, because you can get the funds within a day or less.

Frequently Asked Questions on Manappuram Finance Gold Loan Interest Rate and Loan Scheme

Below-provided are FAQs about jewel loan by the financial institution.

  • addFAQs
    1. What is the Manappuram gold loan rate per gram by gold purity?
    2. The table below shows an estimate of what loan will the financial institution offer on per gram gold considering different purity levels. The estimates are based on the maximum LTV of 75% and minimum 65%.

      Target Group

      Indian Women (Residents) – Both working and non-working women can apply for the loan.

      The working women should be permanent employees of central or state government. They can also be employees in the PSUs, government schools or any other govt aided institutions. However, women professionals like Doctors, chartered accountants, engineers can also apply

      If the woman is a non-working, then she should be able to show the income proof of her spouse or a relative who becomes the co-borrower of the loan.

    3. What is Bank of India Star Mahila gold loan scheme?
    4. Below-mentioned are details about BOI Star Mahila jewel loan scheme.

      Purity of Gold

      Rate/gram- considering previous 30 days average

      Manappuram rates per gram at maximum

      Manappuram rates per gram - minimum

      22 carat

      Rs. 31,411

      Rs. 2,356

      Rs. 2,042

      20 carat

      Rs. 28,555

      Rs. 2,356

      Rs. 1,856

      18 carat

      Rs. 25,700

      Rs. 1,927

      Rs. 1,670

      This might have definitely helped you understand the method how the NBFC calculates loan rates on per gram of gold with different purity levels.

      • The loan amount per gram for 22 carat gold lies between Rs. 2,042 to Rs. 2,356.
      • The loan amount per gram for 20 carat gold lies between Rs. 1,856 to Rs. 2,356.
      • The loan amount per gram for 18 carat gold lies between Rs. 1,670 to Rs. 1,927.
    5. What are the rates of interest and penal charges on Star Mahila gold loans?
    6. Below-provided are details about BOI interest rate and penal charges for loan against gold.

    7. What is the mode of calculation for rate of interest?
    8. The mode of calculation for gold loan Manappuram is given below.

      • The interest rates shall be charged annually.
      • The interest rates apply only on the outstanding balance of the loan.
      • To calculate the interest rates, the number of days per year shall be 360 days.
      • The compounding method will apply only in specific loan schemes.
      • The loans offered have a fixed rate until the account closes.
    9. How do risk-related rates work?
    10. Below-given is information of how risk-related rates work.

      • A higher LTV – loan per gram – attracts higher interest rates.
      • The rate of interest may vary time to time and will apply considering the different loan schemes.
    11. What is the maximum rate of interest?
    12. The interest rates will not exceed 29%.

    13. Is there a penalty or overdue interest?
    14. If the loan is unpaid beyond the normal tenure, the financial institution charges a penal interest of 3% per annum on the due amount on a regular basis until the loan is closes.

    15. What are the other charges of gold loan Manappuram Finance?
    16. Other than the interest rates, other charges that may apply are as follows:

      • Processing charges – The minimum processing charges are Rs. 10 that needs to be paid during settlement.
      • Prepayment/ foreclosure fee – Prepayment of loan is allowed with no extra charges applicable.

Disclaimer: Information is gathered from secondary sources and meant for reference only. Loanbaba is not a channel partner of Manappuram Finance for gold loan.

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