If you are looking to meet urgent financial obligations, the Muthoot Finance Personal Loan available on Bajaj Markets might be a viable solution for you. Borrow amounts of up to ₹10 Lakhs and fulfil your monetary needs with this multi-purpose loan. Also, benefit from interest rates starting at just 14.50% p.a. and flexible repayment tenures ranging up to 5 years.
The Muthoot Finance Personal Loan interest rates and other associated charges are listed below:
Interest Rate |
14.50% p.a. onwards |
Processing Fee |
2% to 4% of the loan amount |
Foreclosure Charges |
2% to 6% of the outstanding loan amount |
*Disclaimer: The aforementioned rates and charges are subject to constant change at the lender’s discretion.
Year | Principal | Interest | Balance |
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To get this loan, you need to fulfil the following eligibility criteria:
You must be a salaried employee working in a Public Sector Unit (PSU) or any reputed organisation
Your age must be between 23 and 60 years
If residing in a metro city, the minimum net monthly income must be between ₹20,000 – ₹30,000 per month (subject to the employer)
If residing in a non-metro city, the minimum net monthly income must be between ₹15,000 – ₹25,000 per month (subject to the employer)
In addition to this, here is a list of documents required during the application process for this loan:
PAN card (Mandatory)
Duly filled loan application form
Passport-size photographs
Identity Proof: A copy of any one of the following
Passport
Voter ID
Aadhaar card
Driving licence
Address Proof: A copy of any one of the following
Aadhaar card
Property Purchase Agreement
Registered Lease Agreement
Utility Bill (not more than 3 months old)
Driving licence
Passport
Proof of Income: Any one of the following
Bank account statement
Salary certificate
Salary slip
Form 16
Employment Proof: Letter from the company confirming your employment period
Here is a step-by-step guide to apply for a this loan on Bajaj Markets:
Click on the ‘Apply Now’
Provide your personal and professional details
Select ‘Muthoot Finance’ from the list of lender
Enter the required loan amount and repayment tenure
After this, a representative will reach out to you for further proceedings.
You can borrow amounts ranging from ₹50,000 onwards to ₹15 Lakhs with the help of these personal loans.
Yes, Muthoot Finance offers pre-approved personal loans to existing loan customers. However, the loan is only offered upon the completion of a minimum of 12 EMIs. Thus, the offer is essentially made based on the repayment history of the customer.
No, there is no restriction on the usage of Muthoot Finance Personal Loans. You can use the loan amount to cover the cost of home renovation, education, travel, weddings, and much more.
You can reach out to Muthoot Finance through any of the following ways:
Write to: Muthoot Chambers, Opp Saritha Theatre Complex, Banerji Road, Kochi 682018
Monitor the status of your personal loan application by visiting Muthoot Finance’s official website. To track your application online, provide the following details in the form provided:
Full Name of the applicant
Registered mobile number
Applicant's date of birth & PAN Card
Loan reference or registration number, if applicable
Any other unique number provided by the bank
If online tracking is not feasible, you can also check your personal loan status offline. Contact customer service or visit the branch directly for updates on your loan application.