Muthoot Finance Gold Loan is provided by Muthoot Finance Company. It is one of the most popular Gold Loan companies established in India in 1939 with thousands of branch offices across the country.
This is the simplest and quickest means of getting affordable loan services to meet up with your needs and finances. It offers hassle-free and instant online Gold Loans to individuals and makes disbursement available at a faster rate.
Muthoot Finance Gold Loan is one of the best and most frequently loan services used by individuals. This loan finance is offered by Gold Loan in India and it has more than 2.5 million users across the globe who request their services.
It is important to know that you must have a gold asset like jewelry, bangles, a watch, a necklace, Gold Coin, and other ornaments. This simply implies that before one can seek a loan in Muthoot Finance Gold Loan, the person must have a gold possession of any kind.
Muthoot Finance Gold Loan offers its gold services to customers who are in need of the services. Its delivery is swift as it knows the urgency that is required in offering loans to individuals.
You can seek any kind of loan from this Gold Loan provider ranging from business loans, personal and student loans, study loans, and evening events loans such as burials, weddings, and others.
About Muthoot Finance Gold Loan
Only customers who are citizens of India can access a gold loan from Muthoot Finance after making available their gold ornaments and other essential documents.
There are no hidden charges attached to the process of acquiring such a loan. The normal rates which are made known to the users are the ones incorporated and nothing else.
Hence, the reliability of the platform to offer services that are of high value and trusted to give out its best. When it comes to security issues, Muthoot Finance is highly secured and can be accessed by everyone who is qualified to gain access.
The Gold Loan interest rate is friendly and can easily be paid by the users. Its interest rate makes it possible for Muthoot Finance Gold Loan to have many competitors.
Meanwhile, it is worth knowing that aside from rendering Loan services, Muthoot Finance Gold Loan offers services like foreign exchange, wealth management, money transfers, selling of coins, and other valuable products on a larger scale.
Muthoot Finance Gold Loan Features
There are many features peculiar to this loan site and this makes it unique and stand out from other Loan provider platforms.
Here is a list of the many features available on the loan platform:
Repayment Charges: on Muthoot Finance Gold Loan, the user does not have to pay for any charges on the repayment level. All that is required is that you repay the loan debt on or before the repayment period.
Interest Rate: the interest rate is quite lower than any other loan accessible in Nigeria. It also has a fixed loan interest. This interest rate is determined by the Gold Loan plan that an individual chooses.
Loan Amount: Muthoot Finance Gold Loan offers the best loan amount to its customers. It has a maximum loan amount that is limitless while the minimum that could be gotten on the platform is INR 1500.
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Requirements for Muthoot Finance Gold Loan
To gain access to the gold loan, there are some criteria that must be met by the borrower. This is to make sure that the person is creditworthy for the loan.
Below is a list of the many things required::
- The most important one is having a gold asset which can be in jewelry form or ornaments
- Clear passport photographs of the person
- A valid proof of identification. This can be either a voter’s card, National Identification number, driver’s license, and international passport
- Residential address of the borrower for easy tracking if necessary
- The loan application form is well filled out using the right website
Muthoot Finance Gold Loan Application Methods
You can apply for the loan after you have successfully met the above eligibility criteria to check if you are qualified to venture into the loan.
Now there are two ways in which one can apply for this Gold Loan, online and offline process. Either of the ways are easy and simple when instructions are followed.
To get the application form offline, you need to visit the nearest branch office close to you and request a loan form. Remember that you must go with your gold asset to qualify to fill out the form. The verification will be processed and the loan amount you choose disbursed immediately in a few minutes
If you want to apply online, you can proceed to the official website of Muthoot Finance and fill out the form online. With the indicated address the officials will visit to check and evaluate the Gold in your possession.
Following that, your loan request will be granted and the money will be dropped in your account within an hour time.
How to Apply for Muthoot Finance Gold Loan
You must follow the steps that will be provided below to start up the application process for the Gold Loan. The simplest and most easy ways to go about applying are;
- Take your Gold to the branch office close to where you live for evaluation and purity checks. This determines the amount of loan that can be granted to you.
- All decisions on the market rate of both the previous day and the present day are analyzed.
- The loan value is 75% as decided by the RBI
- When the gold is valued, the loan amount specified, and the loan application process followed, the charges allocated to the processing of the loan are deducted.
- After that, the loan amount is disbursed into your account in less than an hour interval.
Muthoot Finance Gold Repayment Methods
If you already have an account with Muthoot Finance, a standing instruction (SI) is the preferred method of repayment. At the conclusion of the monthly cycle, an automatic debit of your EMI amount will be made from the Muthoot Finance account you’ve designated.
If you have a non-Muthoot Finance account and want your EMIs to be automatically debited from this account at the conclusion of the monthly cycle, you can use the Electronic Clearing Service (ECS) mode.
Post-Dated Cheques (PDCs): At the closest Muthoot Finance Loan Center, you can submit post-dated EMI checks from a non-Muthoot Finance account. It will be necessary to promptly submit a new set of PDCs. Please be aware that Post Dated Cheques will only be accepted at non-ECS locations.
Muthoot Finance Gold Loan Online Application Process
As a new or existing user, it is important that you follow the steps that will be outlined below to fully request and complete the loan application process online.
- you need to visit the website online.muthootfinance.com
- As a new user, you will need to sign up first by clicking on the sign-up button
- Then you input your details such as name and password
- After which you press the continue button to successfully sign up
As an old user, all you need to do it to
- Open the website online.muthootfinance.com
- Click on the login button
- Using your sign-up details log in to your account
- Locate the Loan button and click on it
- After which you proceed to fill out the loan form online
- When you are done, submit and wait for review and approval
Conclusion
Muthoot Finance Gold Loan is only for citizens residing in India. Others who wish to apply for the loan should check the eligibility criteria to ensure that they met up with them.
The loan can be applied for with the possession of Gold, which can be in the form of a Necklace, Gold coin, bracelets, jewelry, and other Gold ornaments.
The Repayment period is considerable as it gives the customers enough time to pay back. Muthoot Repayment term last between the period of 1-3 years respectively. it also depends on the type of loan scheme you applied for.
This is an instant loan that requires few documents and no guarantor. The Loan amount will be disbursed in to your account in less than an hour.