Muthoot Finance Gold Loan

A gold loan is a secured financing option that can help you quickly meet your immediate financial requirements, by pledging your gold ornaments, jewellery etc.

In this regard, you can consider obtaining a gold loan from Muthoot Finance, a leading financial institution offering gold financing at competitive rates. Muthoot Finance Gold Loan comes with easy eligibility and documentation, making the application hassle-free.

Not only that, but it also assures quick disbursal. Furthermore, the various schemes offered ensure that your financial needs are met. Read on for more details on the Muthoot Finance Gold Loan and how you can avail it on Bajaj Markets.

Muthoot Finance Gold Loan Interest Rate & Charges

Before proceeding with a Muthoot Finance Gold Loan application, it is essential to assess the interest rates and charges you may have to pay. Note that the interest rates and charges can significantly affect the overall cost of your borrowing. 

Find the interest rate of Muthoot Finance Gold Loan in the below table.

Disclaimer: Please note that these rates are subject to changes, and you should contact the lender before applying for a loan.

How to Apply for Muthoot Finance Gold Loan on Bajaj Markets

Applying for the Muthoot Finance Gold Loan is extremely convenient. You just need to fill in the online application form through these steps:

• Step 1: Click on ‘APPLY NOW’ on this page.

• Step 2: Enter details like your name, mobile number, and date of birth. Then, select the state, city, and nearest branch.

• Step 3: A loan representative will contact you to process your application further.

Muthoot Finance Gold Loan Eligibility

To avail of a gold loan by Muthoot Finance, you must fulfil certain eligibility requirements. These are:

• You should be older than 18 years

• You must be an Indian citizen

Muthoot Finance Gold Loan Documents

Find the document requirements below:

• Proof of identity (PAN Card, Aadhaar card, Voter ID card, Passport)

• Address proof (Aadhaar card, Voter ID card, Passport) or utility bills

Features and Benefits of Muthoot Finance Gold Loan

A Muthoot Finance Gold Loan comes with various features and benefits, making it an enticing gold financing option. Find details about them below:

• Quick Disbursal

Muthoot Finance offers gold financing with quick application approval and disbursal. To enjoy a hassle-free gold loan process, you simply need to meet the eligibility parameters and submit the necessary documents.

• No Max Limit on Sanction

The minimum loan amount of Muthoot Finance gold financing is ₹1,500 with no maximum cap on the corpus. So, you can now meet all your big-ticket expenses with ease.

• Pre and Part-payment Options

You can also wholly or partly prepay your loan amount with Muthoot Finance. The facility allows you to repay your loan amount before the tenure ends and get access to your gold items early.

• Minimal Documentation

Obtain gold financing from Muthoot Finance with minimal documentation. You only need to submit a few KYC documents.

• Doorstep Gold Valuation

Gold valuation can happen at the comfort of your home. This adds to your convenience and assures the safety of your gold items.

Factors That Determine Your Gold Loan Interest Rate

When deciding on which gold loan to take, the most important component that you must assess is the interest rate charged by that financial institution.

However, there are certain factors that influence the interest rate that you may have to pay when availing of a gold loan. The following are the details about these factors:

• Income

For lenders, your income reflects your ability to repay the amount of the loan. So, the higher your income, the more confidence a lender will have in you. If the lender believes that you may repay the loan consistently, they may offer you the gold loan at lower interest rates.

• CIBIL Score

One of the most significant factors when determining the gold loan interest rate is your CIBIL score. Your credit report reflects your credit repayment history and defines your creditworthiness. A higher CIBIL score may help you secure a gold loan at lower rates.

• Loan Amount 

The principal loan amount is another factor that influences the interest rate at which you may get a gold loan. Generally, a higher principal amount will attract higher rates of interest. So, you must assess all available options to decide on the best-suited gold loan.

• Prevailing Gold Market Price

When the gold prices are high, the lenders provide you with the loan at a lower interest rate. Lenders can recover the loan by selling the gold if you default on payments.

• External Benchmark Lending Rates

Just like other loans, the gold loan interest rates are also linked to the external benchmark rates. So, when the Reserve Bank of India (RBI) revises the policy rates, the lenders also increase or reduce the interest rates accordingly.

Compare Muthoot Finance Gold Loan with Other Partners

Before you proceed with your Muthoot Finance Gold Loan application, you must compare the interest rate offered by different banks and financial institutions:

Disclaimer: The above details are subject to change as per the policies of the financial institution.

Muthoot Finance Customer Care

For any queries regarding your Muthoot Finance Gold Loan, or any aspect related to the process, you can call 78348 86464 or 99469 01212 if you reside in the southern states of India. If you reside in northern, eastern, or western regions of India, you can reach out through 1800 313 1212.