Get Loan on Jewellery
Taking a loan against jewellery is a safe and easy option if you need immediate access to funds. To take a gold loan at Muthoot FinCorp, all you need to do is keep your gold ornaments as collateral and avail a loan against it. We offer loan amounts up to 75% of the gold’s value in the market, subject to some conditions.
You need not to mortgage your property or any other asset. Instead, you can keep your gold jewellery as collateral and receive the required funds instantly. Borrowers can enjoy a flexible loan repayment tenure for gold loans. Thus, you save yourself from the boundation of repaying the loan within any fixed specified time or at any fixed interest rate or through EMIs. Calculate your repayment structure before applying for a gold loan with our gold loan EMI calculator and plan your finances with ease.
What is the Procedure of Taking Loan on Your Jewellery
Getting a loan against gold jewellery on EMI online is the most accessible way of availing funds. Here are the steps to follow:
- There’s no demanding eligibility criteria for Muthoot FinCorp Gold Loans. You can check the list of documents required on our website or download the Muthoot Blue App. Muthoot FinCorp lets you calculate your EMI on a gold loan through its EMI calculator.
- Check the various gold loan schemes Muthoot FinCorp offers to select the best one that suits your requirement and repayment ability.
- Once you have selected your preferred gold loan scheme and checked for your eligibility, find the nearest Muthoot FinCorp branch with our branch locator feature. Visit the branch locator page on our website and select your city, district, and locality. On entering the details, you would be automatically directed to the nearest Muthoot FinCorp branch.
- Visit your nearest branch to apply for a gold loan and get your gold jewellery valued to avail instant funds.
What are the Affecting Factors for Loan on Jewellery
The following are the factors that affect loan on jewellery-
- Gold loan applicants must be between the age of 18-65 years.
- The gold jewellery that the borrower wishes to mortgage must be between 18-24 karats.
- The gold is evaluated at Muthoot FinCorp for its purity and weight. It is valued against the prevailing market gold rate to decide the maximum loan amount allowed.
- Muthoot FinCorp offers a loan amount of up to 75% of the total worth of the jewellery in the market.
- The interest rate of the gold loan depends on the gold loan scheme chosen and the loan repayment tenure.
Reasons to Choose Muthoot FInCorp for Calculating EMI on Loan On Jewellery
There are several reasons why Muthoot FinCorp is a popular choice amongst all gold loan borrowers. The reasons are as follows-
- Safe and secure: Muthoot FinCorp keeps your gold jewellery safe. You need not worry about them being damaged or lost; they are kept safe until it is time for you to take them home. All mortgaged gold is kept securely in vaults, monitored 24×7 by CCTV cameras.
- Multiple Gold Schemes: Use the gold loan calculator to understand your eligibility. Muthoot FinCorp offers multiple gold loan on EMI as well as other payments to suit the needs of its borrowers. The interest rate starts from 9.95%, depending on the gold loan scheme, the loan amount and tenure. The minimum and maximum amount offered in each gold loan scheme also differ. Thus, borrowers are granted freedom and are spoilt for choice when it comes to availing of a gold loan at Muthoot FinCorp.
- Flexible loan repayment tenure: Muthoot FinCorp offers flexible loan repayment tenures. This flexibility helps borrowers repay their loans through EMIs and bullet payments without adding to their financial burden.
- Minimum documentation: Applying for a gold loan on EMI with Muthoot FinCorp is hassle-free. Borrowers need to follow a minimum documentation procedure that includes their identity and address proof. Thus, the institution does not burden you with complicated pre-loan procedures during the gold loan application process.
Frequently Asked Questions
A loan against gold ornaments is where you avail of a loan by keeping your ornaments as collateral. Muthoot FinCorp offers you a loan amount of up to 75% of the gold’s value in the market (location dependent). Repay the loan in comfortable EMIs and bullet payments to clear the loan and take your gold home.
Yes, you can get a loan against gold jewellery. The loan amount offered is up to 75% of the ornaments’ total value in the current market.
Yes, taking a gold loan is one of the wisest options when you need emergency funds. Pledge your gold ornaments as collateral until to take an instant loan. It is a great way of leveraging gold ornaments that you rarely wear to meet your urgent requirements.
Gold loan is also sometimes known as a jewel loan as most borrowers pledge their gold jewellery as collateral Borrowers can avail up to 75% of their current value of the gold jewellery by applying for a gold loan.
The extension policies offered to borrowers are at the sole discretion of the lender. Visit your nearest Muthoot FinCorp branch to know more.
Muthoot FinCorp offers gold loan amounts up to 75% of the gold’s value in the market, subject to terms and conditions. To know more, visit your nearest branch or call us at 1800-102-16-16.
Yes, undoubtedly, you can get a loan on jewellery. You just need to visit the nearest branch and keep your gold jewellery as collateral to receive the required funds instantly.
What Documents are required to avail gold loan on EMI?
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.
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. ...
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. ...