Gold Loan Process
Muthoot FinCorp offers you a hassle-free gold loan with competitive interest rates to assist you in times of financial distress. The process is simple and convenient, allowing you to leverage your asset (gold) in lieu of quick funds that are disbursed in a matter of minutes. The value of the loan is based on the value and purity of the gold you offer as security.
With minimal documentation, comprehensive assistance, and quality service, you can gather your required corpus with ease. Even the terms to repay the loan are flawlessly designed, keeping the customers in mind. It offers borrowers that much-needed flexibility to pick and choose the tenure and its respective interest rates based on their individual flow of income and repayment ability.
What is the Procedure of Availing Gold Loan
The procedure of applying for a gold loan at Muthoot FinCorp is easy. Here are the steps to follow:
- Visit our website or download the Muthoot Blue app and enter your basic details and information about the gold you wish to pledge.
- Our gold loan calculator will use the gold’s weight and purity to determine the loan eligibility based on market gold prices. This convenient process is made possible by the use of our simple gold loan calculator.
- You can even use the calculator to see how much your monthly payments will be under different schemes for different tenures. It even lets you pick your repayment terms to get back your pledged jewellery either via bullet payments or installments.
- Once you have found a scheme that matches your requirements, click on submit, and one of our executives will get in touch with you.
- To complete the process, you will need to visit one of our 4200+ branches across India, pick one closest to your location. Our executives will assist you in completing the documentation and evaluation of the gold you intend to pledge. Thereafter your gold loan will be processed within minutes.
Features That Makes Gold Loan Process Easy and Fast
Enjoy an easy gold loan process at Muthoot FinCorp. Our gold loan schemes have been designed with a customer-centric approach. A wide range of schemes is offered to customers depending on various life-stage requirements and repayment capacities. Some of the prominent features of choosing Muthoot gold loan schemes are:
- Customers who ensure on-time and regular clearance of payments can enjoy the benefits of cashback offers.
- The Muthoot Blue App offers ease in digital payments of EMIs and top-ups when needed instantly.
- The minimal documentation requirements and seamless service delivery make the application of the gold loan process a breeze.
- Nominal processing fees and competitive interest rates applicable on diminishing principal within specific schemes make repayment of the loan easier for borrowers.
- The 24×7 Express Gold Loan scheme is perfect for borrowers who wish to top-up their loan and avail of quick cash of up to a limit of 5 lakhs in a single day with zero processing fee for the first 5 disbursals.
Reasons to Choose Muthoot FinCorp for Processing Loan Against Your Gold
Our gold loan calculator helps you to understand all our gold loan schemes at your pace. You can always depend on Muthoot FinCorp for instant gold loans through our quick loan processing practice. You can now quickly obtain a gold loan by pledging your ornaments on EMI. Here is why Muthoot FinCorp is the best:
Our rich tradition and legacy of 134+ years makes us one of the most trusted gold loan partners in India.
- Low-Interest rates
Get the best and most affordable deal on gold loans when you come to us.
- Gold Loan calculator
Use our free gold loan calculator on our website and app. This calculator helps you answer the most critical question, how much loan can I apply for? It will also help you arrive at the EMI amount. This amount will vary depending on the scheme and the loan tenure that you select.
Various repayment options
We also offer you choices in the repayment options to select one that seamlessly fits into your monthly budget.
- Safe & Secure
The gold jewellery that you deposit with us in lieu of the loan will be securely stored in our lockers placed in vaults monitored by CCTV cameras 24/7.
- Top up facility
If you have not taken the entire loan amount that you are eligible for, you can easily top up your loan whenever you wish by logging on to our website or through our app.
Frequently Asked Questions
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.
The foreclosure charges on a gold loan vary from scheme to scheme. When you avail a gold loan from Muthoot FinCorp, our representative will take you over all the charges and fees in detail.
You can meet with our representative in your nearest Muthoot FinCorp branch or call at 1800 102 1616.
The processing fee charged by Muthoot FinCorp for availing loan against gold varies from 0.25% to 1% of the loan value. You can speak to our customer service representative or visit your nearest Muthoot FinCorp branch to get more information.
No, gold loans and personal loans are separate financial solutions. Personal loans are unsecured loans which you can avail without pledging any collateral. Whereas, gold loans can be taken by pledging your gold ornaments against it. The procedure to apply and receive a gold loan is far more straightforward when compared to a personal loan.
Walk into your nearest Muthoot FinCorp branch with your ID and Address proof to instantly avail of a gold loan. The gold is checked and evaluated in a transparent process by highly scientific machines to offer you the maximum value. Hand over your gold and take home funds only in one visit. Look for your nearest branch here.
A gold loan is processed instantly. Borrowers can take home a gold loan only within one visit. Complete the verification process, choose a scheme that matches the requirements, hand over the gold for evaluation and the loan will be processed within minutes.
Yes, it is possible depending on the scheme chosen. To check the extension policies of the gold loan tenure according to your scheme, call 1800 102 1616.
Repay the gold loan in easy EMIs or bullet payments as per your comfort and scheme chose. Muthoot FinCorp also offers a hassle-free online payment feature for your benefit.
Yes, all borrowers are welcome to repay the gold loan early. Check the repayment options as per your scheme by calling 1800 102 1616 or visiting your nearest Muthoot FinCorp branch.
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. ...
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. ...
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. ...