Convenience and Flexibility of repayments
Affordable Interest Rates
Best Value of Your Gold
Interest Rate on Loan Against Gold
Gold loan interest rates at Muthoot FinCorp have been designed to offer a comfortable loan experience to every borrower. Our interest rates, starting at 9.95% p.a., are decided as per the required loan amount and the chosen gold loan scheme.
How is Interest Rate Calculated on Gold Loan?
Muthoot FinCorp decides individual interest rates for every individual loan, depending upon your region and requirement. Choose from the most attractive Gold Loan schemes in the market, starting from 12% per annum. A simple interest method is applied to calculate the interest on the gold loan.
For example, an interest of 12% for one year for a principal amount of Rs 1,00,000 will be Rs 12,000.
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.
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.
Interest Rates On Different Gold Loan Schemes by Muthoot Fincorp.
Here’s a table explaining Muthoot FinCorp’s interest rates for the various Gold Loan schemes:
|
Name of Gold Loan Scheme |
Interest Rate |
Loan Amount |
Tenure |
|
RestartIndia Pradhan Gold loan |
11.99% p.a |
Minimum Rs.5 lakh |
12 Months |
|
Easy Pro |
18% p.a |
Rs.3 lakh to Rs.499999 |
12 Months |
|
Easy Max |
21% p.a |
Rs.1 lakh to Rs.299999 |
12 Months |
|
Super Value Gold Loan |
23% p.a |
Applicable through all ticket sizes |
12 Months |
|
Easy Blue |
18% p.a |
Upto Rs.99,999 |
12 Months |
|
Easy Scale Up |
10.95% p.a |
Minimum Rs 8 Lakh |
12 Months |
What are the Additional Benefits of Gold Loan Interest Rate at Muthoot FinCorp?
Muthoot FinCorp’s Gold Loans come with a host of benefits. With Muthoot FinCorp’s Gold Loan, you get:
- Affordable Gold Loan Interest Rates: Muthoot FinCorp extends support to borrowers by offering affordable interest rates. Borrowers can avail gold loans with interest rates starting from 9.95% per annum.
- Best Value of Your Gold: Get the maximum permissible value of your gold based on the chosen Gold Loan scheme.
- Maximum Security: Muthoot FinCorp keep’s your gold in a fully-owned premium facility with maximum security, instead of a third-party locker, until you take them home.
- Convenience and Flexibility: All Gold Loan schemes cater to your requirements with specificity. Every gold loan applicant benefits from the convenience of application and flexibility of repayments.
The final interest rate on the gold loan will be decided by Muthoot FinCorp.
Factors Affecting Gold Loan Interest Rates
Muthoot FinCorp offers the lowest gold loan interest rates in the market. Here are the factors that affect the interest rate on your gold loan:
Loan Amount: Your loan amount decides the interest rate on your gold loan. A higher loan amount will incur a higher interest rate and vice versa. Always keep in mind to check the required loan amount, and compare all available schemes before choosing the gold loan interest rates.
Gold Loan Scheme: Muthoot FinCorp offers various gold loan schemes to suit the needs of every customer. These gold loan schemes come with varying interest rates, loan amounts and tenure options. You can choose the combination which suits you best, and avail the interest rate applicable on the chosen scheme.
APPLY FOR GOLD LOAN
For a quicker process, the applicant can visit the nearest Muthoot FinCorp branch.
Frequently Asked Questions
The rate of interest is calculated based on the chosen scheme, the value of gold and the eligibility.
You can also visit the nearest Muthoot FinCorp branch to find out the interest rate applicable based on the chosen gold loan scheme.
Muthoot FinCorp’s Gold Loan Interest Rate is decided by factoring in the following:
- The region where you are availing the gold loan
- The amount of loan requested against the gold
You can visit the nearest Muthoot FinCorp branch or call us at 1800 102 1616 for more information
Compare the interest rates of our various gold loan schemes using the Muthoot Gold Loan Calculator. Upon furnishing basic information, the calculator populates a comprehensive table. This table displays the tenure and interest rates offered by our schemes. Compare the interest rates and choose the scheme with offers the lowest gold loan interest rate.
Muthoot FinCorp levies a minimal Processing Fee starting from Rs 25 to 0.3% of the loan amount, based on loan amount / schemes.
Gold loan interest rates depend on the purity of the gold to be pledged by the applicant, the region where the loan is availed, and the loan requirement.
The interest on the gold loan is calculated using the simple interest method. The interest amount computed on the principal of INR 1,00,000 will be INR 12,000 based on the simple interest calculation method. Simply deduct the interest from the principal amount to know the outstanding loan amount.
Loan applicants can use a gold loan interest rate calculator to estimate the interest rate and know their EMIs.
Muthoot FinCorp offers various loan schemes to benefit clients with the lowest interest rate on gold loans. The applicants can choose a gold loan scheme as per the loan requirement. A gold loan applicant can avail of the minimum gold loan amount of INR 1,000. The loan amount can go as high as INR 50 Lakhs with the best value of your gold against several gold loan schemes.
Muthoot FinCorp’s gold loan interest rate is determined by considering various factors, including the required loan amount, the applicant’s suitability of the loan tenure, and the gold value to be pledged against the loan. The gold loan seekers can check the current gold loan interest rate here or visit the nearest branch.
First-hand account of customer experiences
MUTHOOT BLUE SOCH STORIES
When we thought of expanding our business, branch manager counselled me regarding the gold loan that I could avail. My wife also helped me in taking decision of gold loan as I was fully assured of safety of my gold. Till 14th of Feb I have taken gold loan 12 times on a regular basis and repaid the same on time. Followed by the gold loan I also took gold coin when I got to know about this scheme and now, I am the owner of the gold coin too. ...
I approached Kaniyapuram Muthoot Blue for a loan. I was a regular customer of Kaniyapuram MFL. They approved a gold loan for me quickly. With that amount and my savings from my previous business I started a small bakery near by MFL branch. The business has grown in a short span of time. Initially I was running the business alone, Now I have 7 staff to support me. ...
I have been a Muthoot Blue customer since the last two to three years. I have taken a gold loan and made use of the EMI facility for buying gold. Providing gold to people like me through easy options is indeed great. I even have a health policy from Muthoot. ...
Namaste! My name is Ramesh Naidu. I stay in Anuradha residency, High school road, Ramavarrapadu, Vijayawada. On 20th Nov 2017, at 12:40 pm my mother G.Satavathi aged 74 had a brain stroke & got admitted in the hospital. I was running to arrange money for my mother’s hospital expenses. Finally, I approached MFL branch for Gold Loan and I got the loan immediately and was able to treat my mother. ...
In 2012 our family was in a difficult financial situation, and I had to make tough decisions for the sustenance of my family. It was at that time that I got introduced to Muthoot Blue. The staff there helped me source a loan against my gold, with which I started my Saree Business. Later I was given a SME loan based on the progress of the same business. ...
I am Parvathi. I am into door to door coconut oil selling business. When I started business, I had a lot of investments that I had to make, but money lenders such as banks, pawn shops, etc. had very high interest rates, and I was unable to avail the same. During this time, I was approached by Muthoot Blue and they offered me products that suited my exact needs and helped my grow my business. I have been taking Gold loan from Muthoot Blue for the past 4 years for my business development. ...
One day i saw Saharanpur team of Muthoot FinCorp doing marketing activity in my area, talking about being self-enough by getting funded at his gold at nominal rate. The idea of getting instant loan on gold without any collateral supported my dream of mushroom business. In 2008, I met Saharanpur branch and expressed my desire of loan on gold. On my first visit I got a loan of 1.2 lakh which i repaid in time. On 19 of Oct 2014, I again took 2.90 lacs of loan as a second booster to my business. Meanwhile during coffee with Muthoot, i got to know about gold coin which I can avail with easy payment option which I took and payed off easily. ...
Namaste! I am Chirumamilla shobha. I am staying at Road No 10, Triumulanagar, Hyderabad, very near to Muthoot Blue BN Reddy branch. In 2015, I planned to purchase land to construct my own house independently. During land registration I needed extra Rs. 2 Lakhs. I visited Muthoot Blue branch and received Gold loan of Rs. 2 lakhs within 15 minutes. Now I am at my own house! Second instance that I’d like to share with you is UPSC-IRS coaching of my Son. ...
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