Customers can obtain a secured loan from Muthoot Finance in place of gold jewellery or other gold decorations by applying for a gold loan, often known as a loan against gold.
It is the simplest option to take care of your financial demands and works as a smart substitute for obtaining loans through the banking system.
You may be certain that Muthoot Finance will provide you with a gold loan that meets all of your needs. Muthoot Finance provides total convenience combined with an exceptional experience with swift loan disbursals and competitive interest rates.
We have the largest gold loan portfolio in the nation, therefore many customers searching for gold loan providers have confidence in us.
We want you to think of us when you search for “gold loans near me.” To meet a wide range of demands, we offer the finest gold loan at the lowest interest rates.
Service Charges Relating To Gold Loan
|SL No.||Type of Charges||Corporate||Rate of charges applicable|
|1.||Service charges -Fresh loan- Rate applicable on the loan amount (IPL)||Southern Branches||IPL (1%) ( For 12 months period only)|
|2.||Service charges -Fresh loan- Rate applicable per account (ZIL/ZIP)||ALL||ZIL/ZIP-Rs.50/loan|
|3.||Service charges -Fresh loan – Rate applicable per account (MBD/MBE)||Rest of India||MBD/MBE-Rs.2,500/loan|
|4.||Security charges- Fresh loan||Rest of India||0.15 per cent, minimum 60 and maximum 600 rupees, of the loan amount|
|5.||Token charges- (For schemes except given in Sl no.1, 2, 10 & 11)||Southern Branches||Loan up to Rs.10000/- –>Rs.10/- and Above Rs.10000/- –>Rs.20/-|
|6.||SMS charges||ALL||at the time of closure or renewal, Rs. 5 each quarter.|
|7.||Notice Charges (Applicable for loans under all schemes)||Southern Branches|
Rest of India
|3 ordinary notices Rs.30/each and 4th notice-Registered-Rs.100/-|
The costs for the first three notices are $30 each, the fourth notice is $100, and the auction notice costs are 120.
|8.||Token lost charges (Applicable for loans under all schemes)||ALL||Rs.25/-(in addition to cost of stamp paper applicable)|
|9.||Stamp duty levied by State Governments||States🡪Karnataka, Andhra and Rajasthan||Actuals where ever applicable|
|10.||GCS||Southern Branches||1.999 rupees every six months (in case the limit is not used over a period of 6 months)|
2. If the transaction is performed through a branch, it costs Rs.99 per transaction.
|11.||GCL||Rest of India||1.999 rupees every six months (in case the limit is not used over a period of 6 months)|
2. Part release charges of Rs.499/- per transaction
3. If the transaction is through branches then Rs.99/- per transaction
|12.||Loan @ Home charges||ALL||Upto Rs.500/- for loan @ home services|
|13.||Loan @ Home charges||ALL||If loan amount|
>Rs.3 L to Rs.5 L
>Rs.5 L to Rs.15 L
>Rs.15 L to Rs.50 L
|14.||Door to Door collection charges (Follow up for interest/loan recovery)||Southern Branches||For each consumer, there will be a recovery fee of Rs. 150 + GST.|
What is a Gold Loan?
The quickest and simplest option to receive money for needs, whether personal or professional, is through gold loans. A secured loan in the form of gold jewellery is taken out by the borrower from the lender. Lenders often approve loans for a particular proportion of the gold’s worth.
Like any other loan, this one may be paid back in monthly payments, and after the loan is entirely returned, you get your gold items back.
The amount of the loan you receive against the gold ornaments you promised to the lender depends on a number of variables, including the purity of the gold used to produce the jewellery, the price of gold on a specific day, and many more.
There are no limitations on how the gold loan may be used, unlike other secured loans like a vehicle or house loan. A gold loan shows to be a successful way to meet an urgent financial need, whether it’s for a company enterprise or your child’s education. If you want to apply for a gold loan, you can quickly determine your eligibility on our website.
Muthoot Finance is a brand you can trust and is one of the most well-known gold loan companies in India. We are renowned for the variety of services we offer, so you can be confident that we’ll give our clients a pleasant experience from start to finish.
Why Choose a Gold Loan?
The following are the main justifications for choosing gold loans:
- When you apply for a gold loan, you may easily and quickly obtain finance at competitive interest rates.
- The minimum amount of documentation is required.
- Quick disbursement of the loan.
- Gold loans have a low-interest rate compared to the majority of other lending choices.
When you apply for a gold loan with Muthoot Finance, you may get the lowest interest rates.
Features of Gold Loan
In certain circumstances, we must borrow money immediately in order to address urgent necessities. One option in such circumstances is to consider a gold loan. If you have enough gold assets on hand, you may use them as collateral to obtain a gold loan.
The following are the main benefits of a gold loan:
- In contrast to other loans, a gold loan is a simple and efficient solution to satisfy one’s financial demands.
- Since a gold loan is a secured loan, a solid credit history is not necessary to obtain one.
- There is little delay in loan disbursement.
- The associated paperwork is simple and quick. This is so because of the gold you place as security with the lender.
Why Avail A Gold Loan From Muthoot Finance?
Power of Trust’s Brand Trust Report for six years starting in 2016 ranked Power of Trust as India’s No. 1 Most Trusted Financial Services Brand. It has earned a reputation for offering India’s best gold loans. The finest gold loan is offered by Muthoot Finance, which also offers the lowest interest rates. Additionally, it provides a variety of gold loan programmes from which you may select based on your needs. Each programme has its own benefits and meets the demands of various consumer groups.
You can anticipate the greatest simplicity and openness when you apply for a gold loan with Muthoot Finance because we are one of the most well-known gold loan companies in India.
We at Muthoot Finance are well conscious of the sentimental value that customers attach to their jewels. As a result, we have installed specialised safe rooms and CCTV cameras to provide constant supervision at each of our branches. The gold products promised to Muthoot Finance Ltd. are entered into our systems, and each submission is stored away in tamper-proof packaging. All of our clients’ gold jewellery and decorations are kept safe and secure with us.