It is easy to get a gold loan from us. Just walk into any of our branches, choose the loan best suited to your needs. Our representative will guide you through the process of availing a Muthoot Blue Gold Loan. Call us at 1800 102 1616 for more details.
You need to provide gold jewellery or ornaments as a collateral to your Muthoot Fincorp branch near you to get a gold loan from us. Contact our customer care representative at (1800-102-1616) or through our online form to understand our gold loan process.
The average price of gold for the last 30 days is used to estimate the value of your gold. Visit a Muthoot Fincorp branch near for a gold loan to get the actual value pegged to your asset. The value of Muthoot Fincorp’s gold loan per gram for today is linked to actual market rates applicable for the day.
As a leading and best gold loan company in India today, our documentation process is very simple. Here are the identity and address proof documents you need to get a Muthoot Fincorp gold loan:
- Ration card
- Pan card
- Driving license
- Voter Id
Yes, a small processing fee is Rs. 12 to Rs. 20 of the loan amount is charged for a Muthoot FIncorp Gold loan. If you do not have the time to visit a branch near you for a gold loan, use the online process or contact our customer care representative at 1800-102-1616.
There are several benefits of getting an offline or online gold loan from Muthoot Fincorp.
- Get a free insurance cover.
- Avail a hassle free and paperless transaction even from your mobile.
- Enjoy simple documentation and transparent process.
- Low interest rate with an option to pay instalments for the number of days the loan is used.
Visit a Muthoot Fincorp branch near you to avail the many benefits of a gold loan.
When you pledge your gold jewellery to take a certain amount of money as cash it is called loan against gold. The Muthoot FIncorp gold loan per gram calculations are used to calculate the amount of loan you can get as loan when you pledge your loan as collateral.
Cash for gold means that you can pledge your gold jewellery or ornaments for instant cash. When you pledge gold jewellery and ornaments for gold loan, you get cash on the basis of the prevailing gold rate and the permissible Loan-to-Value or LTV. Visit a Muthoot Fincorp branch to avail a gold loan.
You can get a maximum of up to 75% of the LTV of the gold. The value is dependent on the purity of gold, and the Muthoot Blue gold loan per gram rate that day. Visit the Muthoot Fincorp branch near you to get a gold loan today.
The CIBIL Score has no role in the processing of a gold loan. This makes it an attractive option for people who either do not have or have a bad credit history. Muthoot Fincorp is one of the best gold loan companies in India offering the best value for your gold.
You can visit a Muthoot Fincorp Gold Point near you to sell gold for cash. If you want to hold on to your jewellery, you can avail a Muthoot Fincorp gold loan at affordable interest rates.
You can visit our website to know the nearest Muthoot Fincorp branch offering gold loan. Muthoot Fincorp gold finance keeps your gold safe. Contact our customer care representative at 1800-102-1616 for details.
Auto loan is a way to finance the purchase of vehicles such as scooters, bikes, cars etc. Once the loan is taken to buy an automobile, the customer makes monthly payments to repay the same over the period chosen under the auto loan scheme. The auto loan terms depend on your income and credit history, among other factors.
To get an auto loan, the following documents are needed:
- A proof of identity: Any one of the following – passport, Aadhaar card, voters ID, diving license and PAN card.
- An address proof: Any one of the following passport, Aadhaar card, voters ID, driving license, telephone bill, electricity bill, gas connection bill, ration card and LIC policy.
- Income proof: Any one of the following, income tax return, form 16, pay slip, and salary credit in bank statement.
- Asset proof: Latest land/building/house tax receipt.
- A recent passport size photo.
At Muthoot Fincorp, the interest rates for Two Wheeler Loan start as low as 0.99%* per annum and 8.99%* per annum for used car loans. Visit any Muthoot Fincorp branch or call us on 1800-102-1616 for complete information. *Terms and conditions applicable.
Muthoot Fincorp has auto finance options for up to 100% of the on-road price of the vehicle purchased including two-wheeler and used car. Visit any Muthoot Fincorp branch for more details.
To be eligible for a two-wheeler loan from Muthoot Fincorp:
- A salaried person should make an income of Rs 96,000 per annum
- A self-employed person should make a net profit of Rs 1,20,000 per annum.
To be eligible for a used car loan from Muthoot Fincorp:
- A salaried person should make an income of Rs 15,000 per month
- A self-employed person should make a net profit of Rs 1,50,000 per annum.
Auto loan from Muthoot Fincorp can be prepaid at any time. You will only have to pay a nominal charge for this. There are no hidden charges involved when you opt for auto finance from Muthoot Fincorp. Contact 1800-102-1616 for details.
If you are looking to finance your automobile purchase make sure that:
- Your credit report is up to date
- Estimate how much EMI can you afford. As a rule of thumb EMIs should be less than 10% of your income.
- Walk into any Muthoot Fincorp branch or apply online for your auto loan.
A home loan or a housing loan is money that an individual borrows with the express purpose of buying a home. The property acts as a collateral for the loan. The borrower has to repay the loan along with an agreed upon interest through monthly EMIs over a period of time i.e. the tenure of the loan.
A Muthoot Blue Home Loan comes with several benefits some of which are mentioned below:
- Our loans range from Rs. 2 lacs to Rs. 30 lacs
- We offer loan repayment tenures of up to 20 years
- You can get loans from us for up to 80% of your property value
- We cater to the housing requirement of customers in the middle and lower income group
- We provide specialised home loans for the unorganised sector and help people turn their dreams of owning a home into reality
Muthoot Fincorp has provision for loan tenure starting from 3 to 20 years for home loans in India. You can have a loan value as low as 2 lakhs all the way to 30 lakhs. As housing finance uses the house purchased to secure the loan as collateral, the interest rate is lower than unsecured loans. Based on your income and comfort, you can opt for fixed or flexible repayment options.
Yes, as we offer flexible terms and conditions on our home loans giving you the flexibility to reduce the loan tenure. Please contact your nearest Muthoot Fincorp branch or call our customer care representative at 1800 102 1616 for more details.
If the home loan in India from Muthoot Fincorp was sanctioned at a floating or variable rate, you can foreclose it at no additional charges. In case a fixed rate housing finance, foreclosure from own sources attracts no charge, though if you decide to refinance the loan, you will have to pay 3% to 5% of the amount outstanding as foreclosure charges.
A borrower benefits immensely from a home loan and we share the major ones with you:
- Owning a home is one of the biggest dreams of every individual irrespective of their age, income or location – and a home loan’s biggest benefit is that it helps the borrower fulfill this dream with easy installment options. They can buy a bigger home or a better locality with confidence.
- Another additional benefit for the borrower is that there is no need to spend lacks of Rupees to buy and start living in a self-owned home. A home loan spreads the amount over several years, making it easy to repay the amount with interest.
- Most borrowers benefit from the fact that the EMI for a home loan is equal to or slightly higher than the amount they pay as monthly rent to their landlord. A loan gives them the freedom to enjoy their home without any interference from the landlord
- The price of a property will always increase with time and investing in one with a home loan will benefit the borrower.
We are bound by and follow KYC forms as per the regulator’s guidelines. You will be required to furnish documents for age, income, and address. The list of documents is given below:
PROOF OF RESIDENCE – ATTESTED PHOTO COPY OF ANY ONE OF THE FOLLOWING: –
- Ration Card
- Driving Licence
- Bank Account Statement
- Voter’s ID Card Documents Required
- Current Telephone / Electricity / Gas Bill / Water Bill / Property Tax
PROOF OF IDENTITY – ATTESTED PHOTO COPY OF ANY ONE OF THE FOLLOWING:
- Driving Licence
- Driving Licence
- Aadhar Card (UIDAI)
- Letter confirming identity from a commercial bank
- Employee ID Card if issued by Central / State Government undertaking
- Voter’s ID Card
- Pan Card
- Income Documents SALARIED INDIVIDUAL
- Salary Slip of last 3 months of Salary certificate issued by employer in absence of salary slip
- Bank Statement for the last 12 months
- ITR for last 2 years if available
Income Documents BUSINESS INDIVIDUAL Business ownership proof documents like license, rent agreement of shop etc.
- Income documents like purchase bills, sales bills, sales register etc.
- Bank statement for last 12 months
- ITR for last 2 years if available
Health insurance provides coverage for the cost of any medical or surgical needs of the insured. You pay a small amount as premium and in return you are insured against medical costs you incur during illnesses, accidents and surgeries. Depending on the type of policy, the costs may either be reimbursed to you or paid directly to the service provider/ hospital (cashless facility).
The cost of medical care has been rising faster than the average inflation in the economy. The rising costs has taken quality healthcare in case of medical emergencies out of the reach of many. Health insurance makes it possible to pay for healthcare without burning a hole in your pocket. A policy ensures that you get the best healthcare without having to worry about the cost.
It is very easy to get health insurance from us for yourself and your family. You can contact us on the toll free number 1800 102 1616 or visit a Muthoot Fincorp branch near you. We offer the last mile presence, with over 3500 branches across India. Our customer care representatives will be happy to help you complete the process of getting the right health insurance for your needs.
If you cancel your health insurance policy during the free look period, you can get the premium reimbursed after operational charges are deducted. Please note refunds are not possible if you have made a claim against your medical health policy.
The aim of health insurance is to get the maximum cover possible and here are what you should look at:
- Do you need the policy for an individual or are you interested in a group insurance policy?
- What are the types of cover you require from the policy? You can choose between critical illness cover, maternity benefit, cancer cover, overseas medical and more.
- Do you want to opt for cashless or reimbursement? Remember, cashless is always more convenient as the papers are sent by the hospitals to us and we bear the cost directly.
- Are you looking for lower premiums – When choosing a medical insurance plan, you have to ensure you are getting the maximum cover possible. Ask our representative to discuss the various plans with you, to make an informed decision. Our plans are designed to meet regular doctor consultations and medical treatments to life-saving surgeries and operations.
Muthoot Fincorp ticks all the boxes of the right Medical Insurance Company. We offer you several benefits including a last mile presence in India, ease of getting insurance, quick processes for claim reimbursement and the highest cover possible for medical costs you are likely to incur. Compare the covers for the different policies we offer – individual health insurance, family floater plans, critical illness cover, maternity benefits, pre-existing diseases cover, senior citizen plans, overseas medical cover and more. Contact our customer care representative at 1800-102-1616 or visit a Muthoot Fincorp branch near you for more details.
Your health insurance claims can be rejected for multiple reasons, including:
- Not declaring pre-existing illness
- Making a claim for something excluded from coverage
- Lack of correct information
- Crossing the sub-limits
- Failure to renew the health care insurance policy
To avoid rejection, make sure you have read through the policy terms and conditions or discuss them with our customer care executive. Also, ensure that you have shared your correct medical history with us at the time of purchasing the health insurance.
The eligibility criteria for a small business loan are simple. The loans are granted against hypothecation of business assets, equipment or stock in trade. So, the quantum of the loan depends on the value of the collateral. Your small business should be in profit for you to qualify for the loan. If you opt for an EDI or Equated Daily Instalment, you can qualify for a loan of Rs 15,000- Rs 1,00,000. In the event of an EMI-based or Equated Monthly Instalment payment, you can avail a small business loan of Rs 1,00,000 to Rs 8,00,000.
The average loan tenure is about 18 months for an SME loan. However based on your requirements, we provide option of 122 days under EDI scheme and from 12, 24 or 36 months for EMI. The exact tenure for your loan for an SME will depend on the loan amount and the installment scheme you decide to opt.
The processing charges for an SME business loan is pegged at 2% of the loan amount you decide to avail. Applicable taxes are extra – please discuss this with your Muthoot Fincorp Customer Care Representative. The current tax regime is 18% GST for small business loans in India.
You can repay your Muthoot Fincorp SME loans in India in the following two ways:
EDI – You can choose to repay your loan in Equated Daily Installments if the loan is for Rs 15,000 to Rs 1,00,000. You do not have to step out of your workplace as we can facilitate doorstep collections.
EMI – The SME finance that ranges from Rs 1,00,000 to Rs 8,00,000 can be paid in Equated Monthly Installments. You can prepay the loan after 60 working days with no foreclosure charges. Our EMI schemes include EMI loan, Banking Surrogate Programme and Financial Income Based Programme.
Yes, you can prepay the entire amount of your small business loan. It can be foreclosed or paid in full after 60 days. You have to keep the small business loan going for at least 60 working days. No foreclosure charges are levied after 60 days.
Please visit your nearest Muthoot FIncorp branch to initiate the process of small business financing. You can visit our website and connect to our representative who will help you with the process. The branch locator on the website can also guide you to a branch near you. Or you can call us at 1800 102 1616 to know more.
Our fast approval and disbursal will help in enhancing working capital, buying stock and handling seasonal surges in business. Contact us at 1800 102 1616 or visit Muthoot Fincorp branch near you to initiate a life-changing loan today.
You can take a used car loan for a tenure ranging from 12 to 60 months. You should be 21 years or above at the time of applying for the loan and within 65 years of age at the end of the tenure to avail finance for a used car. Please get in touch with our customer care helpline number (1800-102-1616) for further details.
It is easy to get a used car loan from us. All you need to do is apply online. Once you click on Apply Now, you will be asked to fill a form. The form will ask for your personal requirements and details. On completion of form-filling process, a company representative will connect with you. You can also walk into any of our branches to apply for finance for a used car.
It is a good idea to pay 20% of the Insurance Declared Value or IDV as a down payment for a loan for a second hand car. It may help you get a better interest rate, quicker approvals and the EMIs will be much lower. It is easier to own a used or second hand car with flexible finance options.
Yes, it is a good idea to buy a second hand car on finance. First, you can own the car you want, even a big car of your choice. Secondly, you can repay the loan amount in easy monthly instalments. Thirdly, a loan for a second hand car allows you to stay cash rich as you do not need to spend all your money in buying the car you dream of owning.
The documents needed to avail a used car loan are simple. When you want to initiate financing for a used car loan from Muthoot FIncorp, please keep the following documents ready:
- Income proof- ITR or Form 16.
- Address proof-Passport/ Aadhaar / voter Id card,/ driving license / utility bills/ ration card / LIC policy.
- Identity proof- Passport/ Aadhaar card/ driving license/ PAN card/ Voter’s Id card
- Asset proof – land/ house/ building tax receipt
- The filled application form is required along with a passport size photograph.
We have a straightforward eligibility criteria to help you with a loan for used cars. The eligibility criteria to get a loan for a second hand car is:
- You should be an agriculturist/ self-employed person / salaried individual.
- Your age should be 21 when you apply for the loan and below 65 when the tenure of the loan ends.
- For salaried individuals, your minimum net salary should be Rs 15,000 per month.
- For business people, your net business income should be Rs 1,50,000 per annum
A loan taken for buying a pre-owned or second-hand car is called a loan for a used car.
You can apply for a used car loan online or visit any one of our branches In Kerala to fill out the loan application.
Gold loans are short-term secured loans perfect for meeting immediate needs. It is basically a loan against the gold you own.
When you give your gold jewellery to us, we give you some amount of money to meet your needs.
- The gold jewellery you give us or pledge to us, is the collateral.
- The money we give you is the loan.
Like every other loan, you will have to pay interest on the money or amount you take as a loan. The loan is given for a fixed amount of time, and you can pay the loan in EMI or repay the whole amount to get your gold back.
The gold items which can be used as collateral (give to us for safekeeping) are:
- jewellery above 22 carats
- ornaments such as chains, rings, bracelets, etc.
The gold you give us is stored safely in our lockers and storage units. Please be assured that strong safes with best-in-class security standards and electronic surveillance are used. Additionally, we insure your pledged gold to its full value.
The different components of a used car loan are:
- The principal amount is the amount disbursed as loan.
- The amount is disbursed for a set tenure or time.
- You pay interest on the principal amount.
- You repay the loan in EMIs or equated monthly instalments (principal amount and interest)
Our interest rates start at 0.99%* for 2 Wheelers*, although rates may vary based on the schemes. (*Terms & conditions apply)
We provide 2 Wheeler loans of up to 100% for specific models under specific schemes.
With us, you can choose from flexible tenure options ranging from between 12 to 48 months.
NACH our primary mode of repayment. But you can download our exclusive M-Power App on the Google Play store or Apple App store and pay using Debit Card/UPI/Net Banking.
Yes, the loan amount can be prepaid at any time, with a nominal additional charge.
An affordable home loan is designed for the lower and middle-income groups who do not have access to finance from traditional banking institutions. Our loans vary between Rs 3-25 lakhs, which allows the lower strata of the society to own homes in the cities of their residence. Even the Government of India, under its “Housing for All” initiative, encourages people of different income brackets to own a home.
The PMAY scheme is an inclusive affordable home loan scheme benefiting the unorganised sector. Under the scheme, a family who has no ‘pukka’ house in this country to buy a home on loan. The loan mandates that a woman has to be a participant in the ownership, making the gender disparity a little less. Muthoot Blue, in its commitment towards the goals, offers home loans of Rs 2,00,000 to Rs 25,00,000 with minimum documentation, low-interest rates and easy repayment terms.
At Muthoot Fincorp, we make it easy to repay the loan with our extended repayment tenures. The minimum tenure we offer is of 3 years, while the maximum tenure is up to 20 years. It means, you can buy and celebrate your dream home with lower EMIs – this adds to the convenience of the home loan.
The interest rates that we at Muthoot Fincorp offer through our subsidiary MHFCL ranges from 12-19%. If you are looking for an affordable housing loan, you can be assured of getting competitive interest rates. We also preferential rates for the PMAY, and for EWS/LIG schemes of the State and Central Governments of India. The interest charged on the home loans is clearly mentioned in the loan agreement and the sanction letter.
Muthoot FIncorp makes the process of applying for a housing loan quick and efficient. You can fill in your details in the form provided, click submit and our customer care representative will get in touch as soon as possible. Alternatively, you can call our toll-free number 1800 102 1616 or visit your nearest Muthoot Fincorp branch and take the help of our customer care executive to help you complete the complete the home loan application process.
The lowest down payment you can make for getting a finance for your housing at Muthoot Fincorp is 20% of the value of the house. This makes our affordable home loan options a boon for the unorganised housing sector.
Home improvement loans are a line of credit extended for refurbishing a residential property. It’s a home loan variant providing credit for emergency repairs, extensions, flooring, roofing, plastering, plumbing, painting woodwork, or any other home repair or makeover job. The home loan for renovation is directly proportionate to the value of your property. Do remember, the loan amount will also take into account your repayment capacity.
A home improvement loan works in the same manner as a home loan. The major difference is that instead of buying a new home, you are using the loan amount for renovating the home you are staying in currently. You have to fill the application form, meet the eligibility, and provide the required documents to get a loan. The repayments are done in easy, flexible EMIs. Contact our customer care executive at 1800 102 1616 or walk into your nearest Muthoot Fincorp branch to understand how a home improvement loan works.
The tenure for home improvement loans may vary depending on the borrowed amount. At Muthoot Fincorp we offer flexible tenures, ranging from 3 to 20 years. It’s advisable to get an estimate for the home renovation job from vendors and workmen before applying – it will give you an exact idea of the total budget involved, and the loan amount needed.
Yes, home improvement loans are tax deductible under Section 24 of the Income Tax Act.
The Act provisions tax relief for purchase and construction of a house along with repair and renovation. Please call our customer care executive at 1800 102 1616 or walk into your nearest Muthoot Fincorp branch to understand the deductibles and rebates applicable to you.
Home renovation costs vary as per the requirements. Muthoot Fincorp offers home improvement loans from 2 lakhs to 30 lakhs to meet all your repair and renovation need. We offer affordable interest rates and we do not charge any penalty or pre-payment fee. To know the exact amount you are eligible for, please contact our customer care executive at 1800 102 16161.
Muthoot Fincorp aims to make home improvement loans accessible to all. That’s why our eligibility criteria are simple. When taking a loan for home renovation, here are the criteria you are expected to fulfil:
Minimum Age at the time of application
Maximum age at the time of loan maturity
Salaried or Self Employed
You need to have a bank account to avail the loan
There are several ways to get a loan against property in India from Muthoot Fincorp. But, first you must determine if you are meeting our eligibility criteria and have the required documents to avail the loan. You can then fill your details in the form provided and our customer care executive will get in touch with you as soon as possible. Otherwise, you can call our customer care directly at 1800 102 1616 or walk into the nearest Muthoot Fincorp branch to start the process of getting a loan. Please remember, you must be a resident of a city which has a Muthoot Fincorp branch to avail the loan. Further, the property should be self-occupied and all the owners must be co-applicant for the loan.
You can repay your loan against property instalment directly via a bank account. You can set up an auto-debit facility. Our customer care executives will be happy to help with any queries.
Generally, you cannot use the same property as collateral for two different loans. That said, you may be able to apply for a loan against property if the existing loan is near maturity, you have a good repayment capacity and the asset value is high. If you require more information, please feel free to contact our customer care representative at 1800 102 1616 or walk into your nearest Muthoot Fincorp branch.
The amount of loan that you can get against a property depends on:
- The market value of the property
- Your ability to repay the loan
At Muthoot Fincorp the loan against property can be for maximum of 50% of the value of the property. The maximum loan amount that can be sanctioned is Rs. 10,00,000.
You do not need any additional security or guarantors to avail loan against property, except for the asset you are pledging as collateral.
The following charges and fees are involved when availing a loan against property in India from Muthoot Fincorp:
- Application fees: 0.5% of the amount applied for
- Processing fees: 2.5% of the loan amount approved
- Pre-payment fees: No fee is applicable if the loan is prepaid from own sources or if the loan had a floating rate of interest.
The above charges are subject to change as per Muthoot Fincorp policies. Please get in touch with a customer care executive at 1800 102 1616 or visit your nearest Muthoot Fincorp branch to know the charges applicable for your loan.
A new pan card application can be submitted either through at an authorized PAN center including Muthoot Fincorp branches.
Here are the steps you can follow:
- Visit your nearest Muthoot Fincorp branch and our customer care executive will help you download the correct form(Form 49A for Indian customers and form 49AA for NRI customers).
- Fill in all the details in the application form correctly. If you have any queries with regards to the form, feel free to take our help.
- Make sure you have all the required documents to submit your new PAN Card application.
- Our customer care executive will submit your PAN Card application form to Head Office.
- HO Executive will process your PAN Card application form online.
You can track your PAN card status at either the UTI portal https://www.trackpan.utiitsl.com/PANONLINE/#forward
You will have to provide the 10 digit coupon number (UTI) to find the status of your pan card application.
The documents required for a new PAN card application ( Form 49A) include:
The Aadhaar card is mandatory.
A proof of identity which could be:
- Elector’s photo identity card
- Driving license
- Ration card
- Arm’s licence
- Pensioner card having photograph of applicant
A proof of address which could be:
- Aadhar card
- Elector’s photo identity card
- Driving license
- Passport of the spouse
- Post office passbook
- Latest tax assessment order
- Domicile certificate issued by government (in copy)
- Property registration document
- Bank account statement not more than 3 months old ( in copy)
- Certificate of address in original signed from gazetted officer.
- Electricity bill or water bill or consumer gas connection card(in copy)
A proof of date of birth for Individuals and HUFs which could be:
- Aadhaar card
- Elector’s photo identity
- Driving license
- Matriculation certificate
- Birth certificate
- Pension payment order
- Marriage certificate
- Affidavit sworn before a magistrate stating the date of birth
- Domicile certificate issued by government
The documents required for NRI new pan card application (Form 49AA) include:
A proof of identity which could be:
- OCI card
- PIO card
A proof of address which could be:
- OCI card
- PIO card
- Bank account statement in the country of residence
- NRE bank account statement in India
- Certificate of residence or residential permit issued by state policy authority
- A copy of Indian visa and an appointment letter or contract with an Indian company
You can visit your nearest Muthoot Fincorp branch and our customer care representative will take you through the process of getting as well as filling the new PAN card Application to complete the process. You can also collect the application form from us if you want to fill it later.
You can fill up the new PAN card application at Muthoot Fincorp branch and submit the form with us. We would assist you with all the details needed and get the PAN card issued at the earliest.
An incomplete Form 49Aand Form 49AA will not be accepted. Instead of trying to fill it yourself, it is better to take the help of a customer care executive to help you fill your new PAN card application form correctly in the first go, to eliminate the chances of rejection due to incomplete or incorrect application form submission.
Depending upon how you had submitted the new PAN card application, you will be able to track its status. If you had submitted the form online, visit the portal to track the status. If you had submitted you PAN card application form at a Muthoot Fincorp branch, visit your nearest branch and our customer care executive will share the update with you.
If you want to invest in a Mutual Fund in India, please visit your nearest Muthoot Fincorp branch or talk to our customer care representative at 1800 102 1616 to understand the process. We will help you fill in the physical or online application form correctly, and then submit it with the required documents to kickstart your investment.
The workings of Mutual Funds investment plans is very simple. A Mutual Funds investment company in India will analyse the performance of different companies and then take an informed decision on whether their shares, debentures, etc. are worth the investment. They create an investment portfolio with companies expected to perform well in the short and long term. As an investor, you invest in the Mutual Funds Investment portfolio, your investment is pooled with investment from other investors. Each investor is entitled to a percentage of shares. Investors are required to make an installment (usually annual) and see your investment grow with each passing year.
Your budget should decide the amount you invest in Mutual Funds investment plans in India. Additionally, your investment goals and tenure for which you want to invest will also affect the amount you invest. However, it is better to seek the help of our customer care executives who will help calculate the ideal investment amount for you.
It is very difficult to give an average return on Mutual Funds in India, as they are dependent on several factors such as the economy, inflation government policies and companies in which the SIP is investing. However, our team of experts factor in predictions and market conditions, and study the balance sheet of the companies online and otherwise, before including them in our Mutual Fund portfolio.
We have several Mutual Funds investment portfolios in India which are created after extensive study by our team of experts. Depending upon your investment goals and risk appetite, you can choose from several of our Mutual Funds investment plans. Please contact our customer care executive at 1800 102 1616 or visit the nearest Muthoot Fincorp branch and discuss with them the Mutual Fund Plans best suited to your requirement.
Motor insurance is insurance for your motor vehicle which could be a two-wheeler or four-wheeler. Typically, it refers to insurance of vehicles meant for personal as well as commercial usage It covers you against any damage that your motor vehicle such as a car or a bike or a scooter may sustain in a road mishap. Motor vehicle insurance also covers you against loss from vehicle theft or damages sustained due to natural or man-made calamity. It also includes a cover for third-party liability. In return you have to pay a small amount as premium.
First, it is mandatory to get at least a third-party motor insurance policy for all vehicles plying on Indian roads. You should also get motor insurance as a vehicle is a substantial investment and the insurance helps pay for any damages it may sustain. In case you sustain injuries in a road accident, the insurance also pays for hospitalization expenses. It also has a personal accident cover that provides compensation is case of disability or demise in a road accident involving your vehicle.
To renew your motor insurance policy, please contact our customer care executive at 1800 102 1616 or visit your nearest Muthoot Fincorp branch. Provide the details of your policy to us, and we will help you complete the process. If you would like to change the coverage or get add-on covers, let us know and we can help you with the changes you require. Our executives will ensure you are using your no claim bonus, if available, when renewing your motor insurance. The new quote will be generated for you based on the insured declared value, available discounts and add-on covers selected. Once the premium is paid, the process is completed.
Your motor insurance premium depends on:
- Insured declared value (IDV)
- Cubic capacity
- Type of coverage
- Geographic zone where the vehicle is registered
- Security systems including anti-theft devices installed
- Demographic profile of the owner-driver
- Gross Vehicle Weight (GVW) of in case of commercial vehicles
In the event of an incident giving rise to a claim under the policy, the following steps should be taken,
In case of accidental damage to the vehicle:
- Immediate intimation to the nearest office, which will issue a Claim Form.
- Claim Form duly filled in to be submitted along with copy of Registration Certificate and driving license of the driver of the vehicle at the time of accident as also estimate of repairs.
- Vehicle will be surveyed by a Surveyor, appointed by the insurance company, who shall submit his report to the company. In case of a major damage to the vehicle, a spot survey, at the site of accident, would also be arranged by the company.
- Final bills/cash memos are to be submitted duly signed by the insured.
- Salvage of the damaged parts may be required to be deposited with the insurance company after approval of the claim.
In case of theft of the vehicle:
- Lodge an F.I.R. with the police immediately.
- Inform the policy issuing office with a copy of FIR.
- Submit the Final Police Report as soon as it is received.
- Extend full cooperation to the surveyor and/or investigator appointed by the company.
- After approval of the claim by the company, get the Registration Certificate transferred in the name of the company, hand over the keys of the vehicle, submit a letter of Subrogation and Indemnity on stamp paper duly notarized.
In case of liability claim:
- Inform the insurance company immediately of any incident likely to give rise to liability claim.
- On receipt of summons from Court, the same should be sent to the company immediately.
- Claim Form duly filled in a long-with copies of Registration Certificate, Diving License, FIR are to be submitted.
The period of a motor insurance policy is the time period for which the policy will be in force. This is the duration for which the premium has to be paid upfront and the coverage is valid only till the end of the duration. You can purchase a motor insurance policy with a period of one year to five years, based on the coverage selected.
Changes to your motor insurance policy can only be done at the time of renewal. Please share the details you require changed with our customer care ree details as per your new requirements in the form provided when renewing your motor insurance.
Each nation has its own currency, and you wouldn’t be able to use Indian Rupee to indulge in any activities on foreign land. Therefore, you should get your currency converted to a target currency at a Forex currency exchange. Most foreign currency converters at your destination will only exchange to US Dollars. If such is the case, you should convert Indian Rupee to US Dollar at a foreign exchange and convert it to local currency at your destination.
Resident Indian can exchange Indian currency to a foreign currency at an exchange House before 60 days from the date of departure. You can keep currency equivalent to USD 3,000(exceptions available to certain countries). If you need more money, you must take it in the form of traveller’s cheque, travel card or bank draft.
An exchange rate is the cost that you will incur for converting one currency to another. The rate will tell you how many USD or Euro you will get in exchange for any amount in Indian Rupees or vice versa. So, if the exchange rate for USD1 is INR75, that means if you want to buy USD 100, you need INR7500. It also means, if someone sends you USD 100, you will receive INR 7500. The foreign (Forex) exchange rates change daily.
Resident Indian can carry foreign currency equivalent as cash when traveling abroad. The rest must be carried in the form of foreign demand drafts or a travel card. You can also use outward remittance to receive money when abroad, in case of an emergency (If offshore Bank A/c Available).
You can carry foreign currency when visiting India. If the value of the currency is higher than USD 5,000, it must be declared at the customs counter and has to Obtain CDF. Any amount greater that this should be converted at a forex currency exchange with CDF when entering India.
To convert to any foreign currency in excess of USD 200 at a foreign money exchange, a copy of your passport + Visa (NRIs/foreign visitors) or any other government issues photo ID and Address proof (Resident Indian). If the amount is above USD 5,000 in cash, you will have to provide a currency declaration form.
Among the easiest ways to send or receive international money transfer is through Money Transfer Service Scheme (MTSS). This service is designed for remittances being sent to family members living in India or to foreign tourists visiting India. It ties up international fund transfer companies abroad with agent in India who can deliver funds to the beneficiary at the prevailing exchange rate.
Domestic money transfer means sending money within India. Using Domestic Money Remittance (DMR) Service, you can remit money to a bank account holder in another part of the country. Visit your nearest Muthoot Fincorp branch to understand how we can help you send money to beneficiary residing in India via our money transfer services.
Use our outward remittance services to transfer money abroad from India through cash (less than Rs. 50,000) or demand draft, payee cheques, and pay order. If you want to remit money to Nepal, you can remit it through Prabhu Money Transfer services. To know the maximum amount you can send abroad, please contact our customer care executive at 1800 102 1616.
You need to produce your valid Identity proof and account details to send money internationally via the Muthoot Fincorp Money Transfer services.
Apart from a nominal processing fee for outward remittance, we do not have any additional charges when you use our international money transfer services
Owning a home is a collective dream for a family, and you pour your (and your family’s) life savings to create this one asset. So, you need to protect it from the potential losses or damages that may occur because of events not in your control. In case of an unfortunate event including natural disasters, vandalism, burglary and possible third-party liability, the home insurance amount you are entitled to will help cover the cost.
You can use our home loan calculator to calculate the home insurance EMI you will pay for the tenure. The major factors affecting your EMI are the loan amount, applicable interest rate and loan tenure.
Follow the below steps to claim home insurance against any damage:
- Call us at 1800 102 1616 and our customer care executive will take you through the process
- In case of vandalism and theft, you are required to produce an FIR report
To get the claims, you should follow a few guidelines, such as If you need to make any temporary repairs, take photographs of the site before and after the repairs. Prepare a list of items lost/ damaged and keep all the receipts handy. An insurance adjuster will inspect your property to assess damage. Make sure you have read the terms of your home insurance policy and follow the process mentioned closely.
Getting the best rates on your home insurance is easy with Muthoot Fincorp. Some steps you can follow are:
- Know the value of your home and possessions before your take the insurance
- Choose insurance covers based on the area you live in and the risk assessment. For example, if you live in a land-locked area, the chances of a flood are low, and you may avoid the insurance cover. Our executives can help you with risk assessment.
- Take insurance as per your requirements and opt for a deductible that you are comfortable with.
One of the most important features to lookout for when choosing a Home Insurance Policy is the cover provided. Cover is mostly extended for property and liabilities. Additionally, you should look for simplified processes that make it easy for you to apply for, and get, the loan. Muthoot Fincorp works on the God-given values of trust and transparency to ensure your policy suits your requirements.
When you buy a home insurance you pay a certain amount of money to get a protective cover against any loss and damage you may suffer in case of an accident, a natural calamity or theft. The money you pay to the insurance company is called the premium.
The cover provided by a Home insurance policy is very important. You can get extensive coverage options including damages caused the structure of the home, electrical items and other possessions in the home. Some policies will also cover the cost of alternative accommodation if your home is not fit for use as well as liability cover for any incidents or third party medical costs for incidents that happen on your property.
Please contact us at 1800 1012 1616 or visit your nearest Muthoot FIncorp branch to know the cover you will get with your home insurance policy.
You can buy gold jewellery on EMI through Swarnavarsham Gold Jewellery scheme from Muthoot Fincorp’s sister concern, Muthoot Exim. The scheme allows you to purchase gold jewellery hallmarked with 916/995 purity including chains, bangles, rings, pendants and earrings. You will have to pay a nominal margin money to buy gold on EMI. The rest can be paid in instalments of 3, 6 or 9 months. You can buy gold jewellery on installments at any of the Muthoot Blue branches.
You can buy silvers bars on EMI at Muthoot Fincorp through our sister concern Muthoot Exim. Visit the nearest Muthoot Fincorp branch near you, and our customer care executive will help you complete the process of buying the silver bars on EMI.
You can get a diamond solitaire on EMI at Muthoot Fincorp through our sister concern Muthoot Exim Visit the nearest Muthoot Fincorp branch near you, and our customer care executive will help you complete the process of buying the diamond solitaire on EMI. Currently, diamond rings are available in select branches of Delhi and Punjab only.
Before buying gold jewellery on installments you should check the following:
- Cost per gram of the gold
- Level of purity of gold you are purchasing
- The jewellery should carry genuine bureau of Indian standard certificate
- Other charges like making charges involved
Once your gold loan is disbursed, you can repay the loan both from a physical or digital medium. You can either make the payment directly at your Muthoot Fincorp branch or pay directly via your bank account. With Muthoot Blue, you can earn rewards if you pay your EMIs through the digital medium including mobile wallet, bank transfer or any other digital mode of payment.
Gold loan interest rate calculator gives you an estimate of the interest rate and tenure you will be eligible based on your loan requirement. With this, you can view the various interest rate and tenure on the EMIs, and choose the combination you would be able to repay with ease. Use our gold loan interest calculator as many times as you want to make an informed decision.
There are several benefits of using the Muthoot Fincorp gold loan interest rate calculator. Some of these are:
- It is a free online tool and can be accessed across all devices
- You can use it as many times as you want with various combinations to get the best suited gold loan for you
- Calculations are quick and accurate
Gold loan interest rate calculator estimates the rate based on multiple criteria. These include:
- The region you are based in
- The amount of loan requested
This will provide you with
- The tenure options for the loan
- The interest options for the loan
Though you can use our Gold Loan calculator to calculate the EMI, you will require to submit a certain documents availing a gold loan on EMI:
- Original proof of identification. Any of the following are acceptable:
- Govt of India election ID card with address proof
- PAN card and address proof
- Driver’s licence
- Any Govt departmental ID card
- We are bound by and follow KYC norms as per the regulator’s guidelines
Please call our customer care representative at 1800 102 1616 or visit your nearest Muthoot Fincorp branch to know more.
A Muthoot Fincorp Forex travel card is a prepaid card that can be used to make payments in a foreign currency of your choice. It functions in the same way as a debit card – you could swipe it on the checkout counters or use it at an ATM to withdraw cash in foreign currency selected. We issue prepaid travel cards to people traveling abroad for pleasure, business, higher studies, medical and other reasons.
Using foreign travel card you would make payments in foreign currency only. You can use it to make purchases online in India only if you need to make a payment in the selected foreign currency. For example, you can use the international travel card to pay for booking your international hotel online from India which accepts a foreign currency. On the other hand, you cannot use to make payments in the local currency.
We offer 2 years validity periods on our prepaid Forex cards. Before the validity comes to an end, you can load the card multiple times, as per the RBI and other regulatory body guidelines. Indian laws prohibit holding monies in foreign currency for individuals and you should encash any unused amount on returning to India even if the travel card has a longer validity.
Muthoot Fincorp offers Renewal Prepaid Cards, which means you do not have to buy a new prepaid Forex travel card if you are travelling within the validity period – all you have to do is load the card as per your requirement and RBI regulations. When the validity ends, and you need to travel internationally, you can Renew new card.
Yes, Muthoot Fincorp offers the flexibility to load multiple foreign currencies in a single Forex card. It allows you to travel conveniently to different countries without worrying about exchange rates. Call our customer care representative at 18001 012 1616 or walk into your nearest Muthoot Fincorp branch to get the card.
Immediately call our customer care representative at 1800 102 1616 if you lose your Forex travel card when travelling abroad. Our representatives will help cancel the card and issue another one. The duplicate or new card is issued immediately and you can continue your trip without hassles.
Insurance is a contract between you and an insurance company – the contract is represented by a policy. As per an insurance policy, financial protection is provided in the form of reimbursement if there is loss or damage to the insured person, entity or thing.
The workings of an insurance are very simple – you pay a premium to insure life or other things. If there is loss or damage, you get paid as per the terms of your insurance policy.
You can insure your life, home, property, business, expensive antiques, paintings, and any other asset.
The premiums are affordable and based on the value of the asset that is being insured.
Premiums are usually paid annually – once a year.
The provision to provide small loans to small ticket borrowers is called Microfinance. The aim of a Microfinance company is to provide access to reliable and affordable financial services to the poor, especially to women and the economically weaker section of the society. It is the only meaningful way to eradicate poverty and help create a powerful economic and social effects. The scope for Microfinance in India is huge and can help kickstart the economy and provide entrepreneurial opportunities and employment for millions.
You can avail microfinance or microloans from Muthoot Microfin Limited, the subsidiary of Muthoot Fincorp ltd. It offers microfinance solutions to propel sustainable growth and alleviate poverty by providing them with the means to access business opportunities. Loans under its Livelihood Solutions include income-generating loans, dairy loans and sewing machine loans which are targeted towards rural women. Water purifier loans and other life better solutions are targeted towards people living in rural and urban localities. You can call us at 1800 102 1616 for more details.
A complete KYC process is required to take a microfinance loan. For this, you will have to present proof of identity and address. An AADHAR card can be used for both. Other documents needed for microfinance in India will vary with the product or service provided.
Microfinance has been recognised as one of the most effective tools for poverty alleviation and for women empowerment. The idea is simple – provide small and microloans to marginalised groups and help them become self-sufficient through entrepreneurial activities. Multiple studies show that rather than one-time access to capital, multiple access to microcredit can help people earn a steady and sustainable income.
The marginalised sections and people with low incomes traditionally do not access to banks due to a myriad of reasons. They fear rejection due to non-availability of documents and previous financial records. As such, they are left to rely on local money-lenders who charge an obnoxiously high-interest rate. Microfinance loans from Muthoot Fincorp (via its subsidiary, Muthoot Microfin Ltd.) is an effective way to bridge the gap. It provides access to credit for business and other needs at comparatively lower rates, with shorter and quicker processes.
Key benefits of microfinance in India include:
- Access to credit for the marginalised sections of the society
- Enables access to education and healthcare for people who do not have access and/or affordability
- Improves income and nutrition for families, especially women
- Smaller loans do not burden the individual and family and repayment is in easy installments
- An entrepreneur once successful will hire others, and it will lead to job and wealth creation
- Significant economic gains for the nation as a whole