Muthoot Finance Gold Loan Interest Rate

Here are the interest rates, fees, and other details you may need to pay when taking a gold loan from Muthoot Finance through Bajaj Markets:

Disclaimer - Details mentioned in the above table are subject to change at the lender’s discretion.

Here are a few things that may affect your Muthoot Finance Gold Loan interest rate per month:

• Loan Amount

If you borrow a large amount, the risk for the lender increases. To cover this risk, you may be charged a higher interest rate. It’s better to borrow only what you truly need.

• Gold Rates

Gold prices keep changing. If gold prices go up, your loan-to-value (LTV) ratio and interest rate may also increase. Applying when prices are stable can help.

• Your Income and Job Stability

A steady income and long work experience make you more reliable in the lender’s eyes. This can help you get a lower rate of interest on a gold loan from Muthoot Finance, along with better repayment terms.

• Type of Interest Rate

You can choose between fixed or floating interest rates. Fixed rates stay the same throughout the loan. Floating rates change as per the market. They may be lower at first but can rise if market rates go up.

Muthoot Gold Loan interest rates are of two types, fixed and floating.

Here’s what the rates mean:

• A fixed rate stays the same throughout your loan tenure. You know how much you need to repay each month.
  

• A floating rate can change depending on market conditions. It may be lower than fixed initially but can go up later.

You can choose either based on your comfort with market changes and how steady you want your repayments to be.

When you take a gold loan from Muthoot Finance, you can choose between a fixed or floating interest rate. Each option has its own pros and cons. 

Here’s a quick comparison to help you understand the Muthoot Finance Gold Loan interest rate today:

• Fixed interest rate stays the same throughout your loan. It gives you a clear idea of your EMI each month, which helps with planning.
  

• Floating interest rate changes as per market trends. It may be lower at first, but it can rise if market rates go up.

You can follow some simple tips that may help you reduce your Muthoot Finance Gold Loan interest cost. 

Here are some:

• Pledge high-purity gold

22-karat gold usually gets better value and may fetch a lower rate.

• Choose the right loan amount

Borrow only what you need. A smaller loan often comes with a lower interest rate.

• Maintain good credit behaviour

If you have taken loans before and repaid them well, lenders may offer you better terms.

• Opt for a shorter tenure

Shorter loan durations often attract lower interest rates.

• Compare offers

Check different lenders on trusted platforms before applying. Some may offer seasonal or special schemes.

Disclaimer: The above charges are subject to change at the lender’s discretion.