Muthoot Finance Gold Loan Repayment

Gold loan repayment means returning both the principal amount and the interest accrued over the loan period. Muthoot Finance allows you to repay your loan via flexible options such as Equated Monthly Instalments (EMIs), ensuring convenience and financial planning based on your chosen tenure.

To repay your Muthoot Finance gold loan, use the official website or mobile app. Log in with your registered details and choose the repayment option. You can pay using net banking, debit card, UPI, or other available modes. The online process is secure, fast, and available 24/7 for your convenience.

You can repay through the payment portal ‘Muthoot Money Limited Direct Payment’. You can also use the app, or visit a branch.

You can repay your Muthoot Finance Gold Loan online using either the official website or the Muthoot mobile app. Follow these steps to make your payment:

• Through the Website

1. Hover over the ‘Quick Links’ section on the homepage
2. A dropdown menu will appear, select the ‘Quick Pay’ option from the list 
3. Fill out the form with loan type, loan number, branch code, customer ID, and mobile number and click on the continue button
4. Choose your preferred payment method
5. Enter the required details 
6. Complete the payment 

• Through the iMuthoot App

1. Go to the app and click on ‘Loan’ from the home screen 
2. Click on ‘My Gold Loans’
3. You will see a list of your gold loan accounts 
4. Choose the specific loan account you wish to make a payment for 
5. Choose from interest, full, and part-payment 
6. Click on ‘Pay’
7. You will find different payment methods from which you can choose one and complete your payment

They facilitate three main options for gold loan repayment, which include:

• Interest Repayment: Pay only the interest during the gold loan tenure and settle the principal at the end
• Part Payment: Repay a portion of the principal along with interest at your convenience to reduce the outstanding balance
• Full Repayment: Pay both principal and interest together to close the loan in one go

Muthoot Finance imposes certain charges if you delay your gold loan repayment:

• Overdue Notification Fee: They issue up to three standard notices, each costing a certain fee, followed by a registered notice, with some amount of fee.

• Auction Notice Charges: If your loan remains unpaid and proceeds to auction, you need to pay the auction notice charges.

For the exact fees, you can get in touch with the lender.

Muthoon Finance allows loan tenures from 7 days up to 12 months, and offers several repayment options like:

• EMI repayment

• Bullet repayment

• Partial repayment

• Interest-only payment

• Pre-closure

There may be some issues that you may face during the repayment process. Here’s how to handle them:

• Missed EMI
  

  Set up reminders or auto-debit to avoid penalties
  

• Repayment Confusion
  

  Clarify if your plan is EMI or bullet to manage payments properly
  

• Inability to Pay in Full
  

  Consider part-payment or interest-only payment if you're short on funds
  

• Gold Safety Concerns
  

  Muthoot Finance keeps pledged gold securely, and for your reference, always provides a receipt after each payment