Muthoot gold loan Interest Rates start from 12% per annum. This applies to both its existing and new borrowers. The actual interest rate varies depending on the gold purity, loan value and the loan to value ratio. A jewel loan can be used for any need. Many use it for business and personal purpose.
For business, the fund can help to purchase equipment, expand workspace, rent or purchase new workstation, project finance, working capital etc. On the other hand, you can even use the funds for expenses related to medical emergencies, weddings, travel plans, education, home repairs, etc.
At Loanbaba, you can get all details about Muthoot Gold Loan.
Muthoot Gold Loan
12% - 26%
0.25 - 1% on the loan value.
Tenure of the loan
1 week to 3 years
Rs. 1,500 to 1 Crore
Gold Loan Scheme
Bullet Repayment Scheme
Muthoot offers loans at special interest rates for agricultural purposes. This is because agriculture appears in the highest priority sectors. Thus, one can opt for the credit for agriculture purposes at rates not more than 1 – 2%. Other than agricultural needs, the financial institution offers a loan against gold at an attractive rate of interest to other customers as well.
Below-given are the featured of a gold loan by Muthoot Finance.
You need to simply follow a smooth and easy documentation process. Provide an identity proof and your address proof to apply for the loan. You can provide the following:
Below-provided are some of the popular schemes by Muthoot Finance for gold loans in India.
Many choose this scheme as it lowers the EMI burden and takes off financial burden till loan maturity. In between people save enough to repay the principal amount so that a lump-sum payment can be made afterwards.
If you cannot repay the amount at all, the gold pledged will become the property of the financial institution. Muthoot Finance will then have the right to recover the outstanding dues by selling the using the gold assets as per their needs.
Muthoot Jewel Loan Interest Rate starts from12%. The ultimate value that is charged will depend on the loan value, the tenure of repayment and the percentage of gold in your jewellery. Muthoot offers special competitive rates to its existing account holders. So, do keep a check on them.
Here is the basis on which Muthoot Gold Loan Interest Rate Calculator functions.
One can avail loan depending on what your jewellery weighs. It ultimately depends on the purity of gold and quality of gold content in the jewels. Higher loan amounts attract low interest rates. However, one can only avail any amount between Rs. 1500 to Rs. 1 Crore.
If you have maintained decent relationships in the past, you are likely to be offered special interest charges lesser than the general rates. Thus, if you have made payments sometime before, you can take advantage of your credibility.
Low tenure of loans attracts higher interest rates. You can avail gold loans from Muthoot for tenure between 1 week and 3 years.
The credit provided for the gold pledged will never exceed more than 75%. Muthoot also has options for loans with low LTVs. The interest rates too would be low in this case. However, the maximum ratio that cannot be crossed is 75% of the net gold weight.
Applying for a loan against gold at Muthoot Finance is now simple and hassle-free. Here is how you can apply for gold loan Muthoot Finance:
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Below-given are FAQs about Muthoot Gold Loan Rate and the jewellery loan scheme.
Yes, you can repay your jewel loan before time. No charges apply.
Yes, jewel loans can be applied online. Moreover, Muthoot provides gold loan online payment facility too.
Below-provided are details about BOI interest rate and penal charges for loan against gold.
There are no special schemes for agricultural purposes despite it being a priority sector. However, the interest rates are so affordable and to the lowest levels, that these loans are specially designed for agriculture, though not restricted to it.
You can avail a loan amount up to Rs. 1 crore.
Disclaimer: Information is gathered from secondary sources and meant for reference only. Loanbaba is not a channel partner of Muthoot Finance.
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