Gold loans have become one of the most popular and trusted types of loans. According to a KPMG report, the organized gold loan sector of India would be worth Rs 3,101 billion in 2019-20. Muthoot Fincorp is one of the most reliable and trusted lenders when it comes to gold loans. Muthoot Fincorp gold loans make it easier for households to manage their financial needs.
Muthoot Fincorp Gold Loans
Loans offered by Muthoot Fincorp are just perfect for raising short-term working capital or meeting your financial emergency needs in just a few minutes at any of Muthoot Fincorp’s branches across the country. LTV and interest rates most are also the most competitive in the case of Muthoot gold finance.
Features & Advantages:
A Gold Loan from Muthoot Fincorp will come to your rescue to fulfill all of your significant financial needs, such as immediate medical spending, investment in a property or estate, college for your kids, wedding expenses, etc. The features that make Muthoot Fincorp’s Gold loan so advantageous are:
Easy to get
Loans are sanctioned quickly without any credit score or problems. The purity and value of your gold will be calculated right in front of you, and your loan will be sanctioned within a few minutes. Muthoot Fincorp’s branches are wholly committed to giving the customer the best and maximum possible and making gold financing more comfortable and affordable.
Requirements are Minimum
The documents required to approve your gold loans are very less. When you visit one of Muthoot Fincorp’s branches to apply for a gold loan, you need to carry your ID papers. Unlike other loan applications, there is no need for a guarantor. The only risk involved is limited to the quality and purity of the gold you put up as collateral.
Lower Interest Rates
Gold loans by Muthoot are provided at desirable interest rates. The minimum interest rate offered is just 12% per annum. Along with this, the Maximum Permissible Value is supplied for your ornaments. The processing fee is very less; ranging from Rs.12 to Rs.20. The disbursal of the loan is quick, and a loan can be attained with minimum documentation and KYC procedures.
Gold is kept Safe and Insured
If you choose Muthoot Fincorp for gold financing, your gold will be kept in the electronically guarded insured lockers on-premises. The lockers are kept under world-class surveillance and safety standards. Additionally, before the gold enters the locker, its insurance is done. So, while on one side, your gold will be kept safe and insured in a locker, and on the other side, you can earn money from it.
Repayment and Tenures are Flexible
Muthoot Fincorp Gold loans offer you both Bullet and EMI schemes. In the Bullet scheme, you have the freedom to repay any amount at any time during the loan tenure. Whereas, in the EMI scheme, you can repay the principal amount and interest in monthly instalments as per your convenience. It also gives the option of part payments and part withdrawals by paying a certain required amount.
Types of Gold Loans Offered
Muthoot Blue Guide Gold Loan
Under this scheme, you can loan up to Rs.99,999 at interest rates that start from 15%. The tenure for these loans is 9 or 12 months.
Muthoot Blue Bright Gold Loan
You can take loans ranging from Rs. 1 lakh to Rs. Three lakhs with interest rates starting from 19% per annum. The tenure is up to 9 or 12 months.
Muthoot Blue Power Gold Loan
You can loan amounts between Rs.3,00,000 and Rs.7,99,999 under this scheme. The interest rates start at 17% per annum with a tenure of 9/12 months.
Muthoot Blue Bigg Gold Loan
The loan amount starts from Rs. 8,00,000 and the minimum interest rate is 15%. Additionally, the tenure is up to 9 months with no pre-closure charges.
Muthoot Blue Smart Gold Loan
This type of gold finance from Muthoot is genuinely revolutionary. The Loan amount starts at as low as Rs.5,000 with a tenure of up to 3 to 36 months. The interest rates start from 15%. Apart from this, borrowers get a free NACH registration.
Muthoot Fincorp provides products to suit all kinds of financial needs. These products are designed to provide financial help to customers through gold financing, which helps them achieve their life goals and begin new phases in their lives.