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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?

  1. FOR INDIAN NATIONALS:
    1. Valid Passport
    2. Valid Driver's License issued by respective State Road Transport Authority in India (Driving Licenses issued by foreign countries should not be accepted. Learner's License is not acceptable)
    3. Voter's Card
    4. PAN card (a separate address proof should be collected from the beneficiary)
    5. Adhar Card
    6. Employee ID of Armed Forces & paramilitary services
    7. Central / State Government employee ID card
    8. Employee ID of RBI, SEBI, TRAI & IRDA
  2. FOR FOREIGN NATIONALS:
    1. Valid Passport with valid visa (Driving Licenses and other in-country identification documents cannot be accepted as a primary identity proof document – could be accepted as additional IDs)
    2. Valid Refugee card

Interest Rate structure*

Scheme Default Interest Slab Period/s Kerala Other States
Express Gold loan
-Kerala & Outside Kerala- upto Rs 200000
(Max. Tenor 9 months)
Upto 1 month 22% 22%
>1 upto 3 months 24% 24%
>3 upto 6 months 27% 27%
>6 months 30% 30%
Express Gold loan -
Outside Kerala Abv Rs. 200000/
( Max. Tenor 9 months)
Upto 3 months - 27%
> 3 upto 6 months - 27%
>6 months - 30%
       
Multi Interest Product (MIP)
M14 - 70% of LTV Maximum amount-
Upto Rs 50000
Upto 1 month 14% 14%
>1 upto 3 months 17% 17%
>3 upto 6 months 21% 21%
>6 upto 12 months 24% 24%
> 12 months 27% 27%
Multi Interest Product (MIP ) M18-
80% OF LTV Maximum amount-
Upto Rs 300000/-
Upto 3 months 18% 18%
> 3 upto 6 months 22% 22%
>6 upto 12 months 24% 24%
> 12 months 27% 27%
Multi Interest Product (MIP) M 22 - 90% OF LTV
Maximum amount-As per approval
Upto 5 months 22% 22%
> 5 months upto 12 months 24% 24%
> 12 months 27% 27%
Additional interest @ 12% p.a. on defaulted interest will be charged if exceeding 12 months under MIP scheme.
Max. Tenor for all MIP products is 12 months.
Muthoot Special Gold loan (MSGL)-
Minimum- Rs 2,00,000
(Max. Tenor is 6 months)
Upto 3 months 15% 15%
> 3 upto 6 months 17% 17%
>6 months 20% 20%
Processing charges Rs 1000 + Serv Tax      
Special 16-
Minimum-Rs 1,00,000
Maximum- Rs 1,99,999
(Max. Tenor 6 months)
Upto 3 months 16% 16%
  > 3 upto 5 months 20% 20%
  > 5 upto 6 months 22% 22%
In the event of default ,Additional interest at the rate of 3% per month will apply on the defaulted EMI for the defaulted no. of days Pre Closure charges applicable .
Vyapar Mitra -
Minimum -Rs 10000
Maximum- Rs 5,00,000
Upto 1 month 18% 18%
>1 upto 2 months 22% 22%
>2 upto 3 months 24% 24%
>3 upto 6 months 27% 27%
> 6 months 30% 30%
Processing fee 0.05% of loan amount subject to a maximum of Rs 100/-
(charged only for the first pledge)
Traders Flexi Gold loan (TFL) 0-30 days 22% 22%
31-90 days 24% 24%
91-180days 27% 27%
Minimum Amount Rs.50000
(Max. Tenor 6 months)
Abv180 days 30% 30%
       
1. Interest is charged on Monthly compounding basis for Express Gold loan & Special 16. For others it will be on ab initio basis from the beginning.
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.
       
MSME loans
SME Loan- (Hypothecation of Stock )
Minimum : Rs 5,000
Maximum : Rs 50,000
24%p.a Repayment through daily installment (EDI) collected in 104 business days.
Customer will be charged a default rate of 3%per month on the defaulted EDI amount for delayed number of days, if the EDI is not paid every day.
Processing charges : Rs.300+Serv Tax.
Collection cum Service Charge: 1% of loan amount
or Rs.150 whichever is higher.
Suvidha Loan- ( Short term business loan)
Minimum : Rs 5,000
Maximum: Rs 15,000
24%p.a Repayment through daily installment (EDI) collected in 104 business days.
Customer will be charged a default rate of 3%per month on the defaulted EDI amount for delayed number of days, if the EDI is not paid every day.
Processing charges :Rs.150/- Serv. Tax
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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FAQs

What is Money Transfer facility?

Money transfer is a facility whereby an NRI can transfer funds from overseas to his family & relatives in a matter of few minutes.

How is Muthoot Fincorp associated with MT?

Muthoot Fincorp branches are licensed for doing WUMT (10 digit Number), Xpress Money (16 Digit Number), Money Gram (8 digit number), Trans Fast (13 alpha Numeric), Instant Cash (9 digit number) and EzRemit (12 digit number) as their sub agent, whereby the beneficiary can come and collect the amount from any of the branch counter.

Is money transfer allowed within India through MT?

No, Currently, MT is for transfer of funds from overseas to India. No internal money transfer is possible.

What are the requirements in terms of documentation for processing of a transaction?

Customer has to bring a valid address & id proof (acceptable proof listed at end) along with the MTCN Transaction number. We are bound by and follow KYC norms as per the regulator's guidelines.

Can a customer receive the amount in cash immediately?

Yes, if the transaction amount is up to 50000 in cash and above that through cheque/DD or Fund transfer to receiver's bank account

What is the maximum amount I can avail in a day ?

The maximum amount that can be transferred in a day is the equivalent of USD 2500.

Is there a ceiling on the maximum amount that can be paid in cash?

Yes, for persons other than Foreigner in India under 'Tourist Visa', cash can be paid for amount up to Rs 50000/- . For amounts over Rs 50000/- amount can be paid by way of cheque / DD or Fund transfer to customer' Bank account only.

Can I remit money in the name of my daughter who is studying in India from UAE?

Yes, you can remit money in the name of your daughter who will have to produce a valid id & address proof to receive the amount.

Are there any charges that I have to pay while receiving the money here?

No, we provide this service absolutely free of charge.

Does the limit of cash payment apply to foreign nationals also?

No, If the foreign national is in India under 'Tourist Visa', he will not be having a bank account in the country and the full amount not exceeding local currency equivalent of USD 2500 can be paid in cash.

Is there a limit on the number of remittances I can receive in a calendar year?

Yes, a beneficiary can receive up to 30 remittances in one calendar year.

Does a regular customer have to produce the proof of id each time?

No, the customer will be given a loyalty number from Muthoot Fincorp and the transaction can be completed with this number.

Money Transfer Service Money Transfer Service Money Transfer Service

Money Transfer Service Scheme (MTSS) is a quick and easy way of transferring personal remittances from abroad to beneficiaries in India. Only personal remittances such as remittances towards family maintenance and remittances favouring foreign tourists visiting India are permissible. The system envisages a tie-up between reputed money transfer companies abroad and agents in India who would disburse the funds to the beneficiaries at ongoing exchange rate.

OUR MONEY TRANSFER PARTNERS

  • Money Gram – 8 Digits
  • Western Union – 10 Digits
  • EzRemit – 12 Digits
  • Trans Fast – 13 Alpha numeral / 12 Digits (for remittance from Saudi)
  • Xpress Money – 16 Digits
  • Instant cash – 9 Digits

APPLICABLE NORMS

  • An individual can receive only 30 transactions in a calendar year (January - December). Payout should be made in Indian Rupees only, not exceeding an equivalent of USD 2500/- per transaction
  • Transactions only up to INR 50,000/- can be paid in cash; any amount greater than to INR 50,000/- should only be paid by way of account payee cheque / Demand Draft / Pay Order / Account Credit
  • Payouts can be made ONLY to individuals who are 18 years and above. Payouts cannot be made to firms / companies / trusts / societies, etc.