A gold loan is a secured loan that a borrower takes from takes from a lender such as bank or a financial institution, in lieu of their gold ornaments. The interest rate of gold loan is calculated based on multiple factors such as purity of gold, weight of the ornament, tenure of the loan etc
Unlike other secured loans, there is no specific eligibility criteria for applying for a gold loan. Whether you are a homemaker, farmer, working professional or a businessperson - any Indian resident can apply for this. There is also no restriction on the end use of such loans and hence, capital against this type of loan can be used to fund education, weddings, vacations or any other financials requirements that you may have.
Walk into your nearest Muthoot FinCorp's branches , submit your gold with your KYC documents and take the loan in one visit. Our experience in providing instant gold loans to our valued customers for years makes us one of the preferred gold loan companies in India.
Find Muthoot Fincorp Gold Loan Branch near you Branch near you Bodhan
The interese rates at Muthoot FinCorp have been curated to provide a convenient experience for for all. Interest rates depend upon the amount of loan and the chosen gold scheme. They start from 11.99% p.a.
We calculate the interest rate for every individual loan based on your requirement and region. A simple interest method is applied to calculate this this interest rate (starting from 12% p.a.) For example, an interest of 12% for one year for a principal amount of Rs 1,00,000 will be Rs 12,000.
Muthoot FinCorp Gold Loans offer maximum benefit to you while keeping your gold safe. Our Gold Loan eligibility is easy to meet and it has been designed keeping your best interest in mind. Our goal is to provide you with maxum benefits along with keeping your gold safe. You can choose from a variety of gold loan schemes based on your requirement. Please refer to the table below to check the eligibility criteria before applying for a gold loan:
| Eligibility Criteria | Muthoot FinCorp Gold Loan |
|---|---|
| Minimum and Maximum age to apply | 18 - 80 Years |
| Maximum Loan Amount | As per approvals |
| Ownership of Gold Ornaments | |
| LTV Ratio | Up to 75% of the value of the gold |
There may be some alterations in the eligibility criteria depending on the Muthoot FinCorp Gold Loan scheme you choose
Muthoot Gold Loan calculator is free and easy to use which is designed to help find out your Gold Loan eligibility, and the loan amount you can get against your gold.
Note:
1. This is based on 22 carat gold value
2. Interest rates for Schemes with maximum permissible LTV
3. Scheme details are approximate. Visit your nearest Muthoot FinCorp branch for exact details.
To provide you with ease while applying for a gold loan, we have designed a seamless process where no heavy documentation is required. Any individual between the age of 18 - 80, possessing the following documents can avail a Gold Loan:
Avail hassle-free Gold Loan in one visit at Muthoot FinCorp
You can apply for gold loan at Muthoot FinCorp both online and offline. Here’s how you can do it seamlessly:
| Apply Online | Apply Offline |
|---|---|
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Muthoot FinCorp offers various EMI plans with varying tenures and interest rates. When evaluating the suitable gold loan on EMI scheme for you, consider the following:
Please refer below for the further details on our EMI Plans:
States we are present in:
