Mar 23 2020

Gold Loan, Gold Loan Rate, Express Gold Loan –, loan max.

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Gold Loan Calculator

*These are indicative figures, for exact amount / grammage, pls contact your nearest Muthoot Fincorp Branch.

Enter the Amount required or the weight of gold in grams

What documents do I need to produce?

Original proof of identification. Any of the following are acceptable:

  • Passport
  • Govt of India election ID card with address proof
  • PAN card and address proof
  • Driver’s licence
  • Any Govt departmental ID card
  • We are bound by and follow KYC norms as per the regulator’s guidelines

Interest Rate structure *

-Kerala & Outside Kerala- upto Rs 200000

(Max. Tenor 9 months)

Outside Kerala Abv Rs. 200000/

( Max. Tenor 9 months)

M14 – 70% of LTV Maximum amount-

80% OF LTV Maximum amount-

Maximum amount-As per approval

Max. Tenor for all MIP products is 12 months.

Minimum- Rs 2,00,000

(Max. Tenor is 6 months)

Maximum- Rs 1,99,999

(Max. Tenor 6 months)

Minimum -Rs 10000

Maximum- Rs 5,00,000

(charged only for the first pledge)

(Max. Tenor 6 months)

2. In all cases interest slab will shift back to original rate at which the loan was availed if interest is paid up to date along with additional charges if any from the date of clearance of default

3. Service Taxes as applicable will be collected extra along with processing fee.

Minimum : Rs 5,000

Maximum : Rs 50,000

Collection cum Service Charge: 1% of loan amount

or Rs.150 whichever is higher.

Minimum : Rs 5,000

Maximum: Rs 15,000

Collection cum Service Charge: 1% of loan amount or Rs.150 whichever is lower.

Processing charges :Rs.150/- Serv. Tax

Collection cum Service Charge: 1% of loan amount or Rs.150 whichever is lower.

* All interest rates mentioned are p.a only

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What is Gold Loan?

Loan granted against security of gold ornaments is commonly called as Gold Loan.

Who is eligible to avail a Gold Loan?

Any individual above the age of 18, can avail a Gold loan by submitting the required gold ornaments for pledging and by providing necessary KYC documents.

Do I need a guarantor?

No guarantor required.. The only security required to avail a gold loan is the gold ornaments to be pledged

What is the minimum/maximum tenor of the gold loan?

The minimum tenor for our gold loan is 1 day and maximum tenor for our gold loan is varies from scheme to scheme each loan has a different tenor (please refer to table below).

What type of gold can I pledge to avail the gold loan?

You can pledge any type of gold jewelry / gold ornaments with us. This includes items such as necklaces, rings, bracelets etc. We cannot take gold coins / bars for pledging purpose.

How can I repay my loan? What different options are available for the repayment?

Our gold loans can be repaid in a flexible manner. You can repay the loan at any of our branches by cash or cheque. Or through RTGS facility. We have recently launched E Pay facility which is an online payment facility where the customer can pay by Debit card or net banking.

Can partial payment be made for the gold loan?

Yes you can do partial payments or bullet payments as per your convenience till completion of loan tenor.

How and when can I get back the pledged gold jewellery /ornaments?

You can collect the pledged gold after making complete repayment of the loan from the branch where it has been pledged. Failure to repay the loan will result in Muthoot Fincorp Ltd. forced to settle the dues through Auction process after sending due and timely intimations to customers and through public notifications in newspaper

What is the minimum limit on your gold loan?

The minimum amount of our gold loan is Rs 1000/- or loan equivalent to 2 grams of gold pledged as per latest LTV . Daily LTV is uploaded in our site.

Is there any maximum amount restriction?

No, there is no restriction on maximum gold loan subject to necessary approvals.

Why should I take Gold loan from Muthoot Fincorp Ltd. when there are other loan options available?

Gold is one of the most liquid precious metals and a customer can avail Gold loan when there is a need. Gold loan is now being preferred by many of our customers due to variety of reasons, primarily:

  • Quick loan approvals and disbursals, with minimal documentation and formalities
  • It is one of most convenient loan to be availed in case of emergency
  • Easily available asset with most of households in India.
  • Multitude of loan options available with higher LTV
  • Greater accessibility due to better penetration.
  • Convenient Hours of operation
  • Flexibility – provision of very small and large loan amounts

What are the benefits of taking a Gold Loan from Muthoot Fincorp Ltd.?

Is my Gold jewelry /ornaments safe with Muthoot Fincorp Ltd.?

Yes it is. We understand the sentiment attached to your ornaments and therefore we are storing your gold ornaments in safes under dual locking facility inside strong rooms .We also have installed CCTV cameras to enable round the clock surveillance in our branches.

How can I apply for a Gold Loan with Muthoot Fincorp Ltd.?

You can avail Gold Loan by just walking into any of our branches with Gold ornaments of required purity .The customer service executives in our counters will collect your KYC documents and guide you through the rest of the process.

How much can I expect for my gold?

This depends on the rate of gold (applicable Loan to Value rate- LTV) on that date and the purity of gold ornaments. Please contact your nearest MFL branch for right information in this regard.

How can I contact Muthoot Fincorp Ltd. if I need more information?

You can reach us at 1800 102 1616, (call center) or click here for contact us page. You can also get to know us better or voice your opinions/ views on our Facebook and twitter pages

Loan maxExpress Gold Loan Loan max

Your Gold – The key to generate fast cash.

Let’s make things easy! Sometimes, we all face situations when quick finance is required, be it for your business, your child’s education, a new home or an emergency.

That’s why, we have financial offerings that have been designed to meet the quick and easy need for liquidity. Our uncomplicated procedures ensure that you receive the loan in the shortest time possible. This will help you get better rates per gram of gold compared to other institutions; part redemption allowed; part payment allowed.

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