Gold Loan With Muthoot Finance Ltd.

Gold loan  Updated date : November 22, 2017 26

Muthoot Finance’s Gold Loan portfolio is the largest in India as well as around the globe. It is humbling to know that more than 2, 53,000 people avail our trusted services on a daily basis.

For the past 130 years, the company has been serving the interests of customers as its top most priority. Muthoot Finance journey through centuries coupled with the fact that we are still a rapidly growing company, highlights the trust and commitment that our customers worldwide have shown in us.

With Muthoot Finance Ltd. Gold Loan services, it takes no more than a few minutes for your gold to generate cash. The simple procedure that we follow allows:

  • Quick loan disbursal
  • Minimum loan amount of Rs 1500 with no maximum limit
  • Pre-payment option-without any penalty
  • Minimal documentation
  • In-house gold evaluation
  • Best customer service with a shorter response time
  • Safe custody for gold ornaments

GOLD LOAN schemes

PER GRAM RATE AND RATE OF INTEREST OF VARIOUS SCHEMES
SL.NOCATEGORYCeiling R6te Rs.1967/-
w.e.f 19.07.2017
KeralaOutside KerelaDelhi
1One Percent Loan (MOL)Upto 1 monthN.A.N.A.12%
Above 1 months upto 3 monthsN.A.N.A.18%
Above 3 months upto 6monthsN.A.N.A.21%
Above 6 months upto 12monthsN.A.N.A.24%
Above 12 months(Penal Interest -3% addnl)N.A.N.A.24%
2Mahila Loan (MML)Upto 1 month12%12%N.A.
Above 1 months upto 3 months15%15%N.A.
Above 3 months upto 6months20%20%N.A.
Above 6 months upto 12months24%24%N.A.
Above 12 months(Penal Interest -2% addnl)24%24%N.A.
3Delight Loan (MDL)Upto 1 monthN.A.N.A.15%
Above 1 months upto 3 months20%
Above 3 months upto 6months23%
Above 6 months upto 12months26%
Above 12 months(Penal Interest -3% addnl)26%
4Super loan (MSL)Rebate 6%/ 3M(18%) - 3%/ 6M(21%) - 2% 9M(22%) Upto 12 months24%Rebate 2%/1 M(21.5%)(DLH) 24%23.5%
Above 12 months(Penal Interest -2% addnl)24%24%23.5%
5Premier Loan (MPL)Upto 1 monthN.A.N.A.20.5%
Above 1 months upto 3 months21.5%
Above 3 months upto 6months22.5%
Above 6 months upto 12months23.5%
Above 12 months(Penal Interest -3% addnl)23.5%
6Highvalue Loan (MHL)Rebate 6%/ 3M(16%) - 6%/ 6M(18%) - 2% 9M(20%)(South) Upto 1 month(Delhi)  16%
Above 1 m upto 3 m (Delhi)  18%
Above 3 months upto 6 months(Delhi)  20%
Above 6 months upto 9 months(Delhi)  22%
Above 9 months upto 12 months22%22%23%
Above 12 m(Penal Int.-2% addnl & 3% for Delhi)22%22%23%
7Highvalue Loan (MHL Plus) (Above 20 L)Rebate 8% /3 M(14%) - 4% / 9M(18%) - 2% / 12M(20%) Upto 12 months22%22%N.A.
Above 12 months(Penal Interest -2% addnl)22%22%
8Interest Prepaid Loan (IPL)3 months (After 3 months,22% p.a.)17% p.a.17% p.a.N.A.
6 months (After 6 months,22% p.a.)16% p.a.16% p.a.N.A.
12 months (After 12 months,22% p.a.)12% p.a.12% p.a.N.A.
Premature closure-22% p.a.   
9Advantage loan (MAL)Rebate 5% /3 month(17%)- for South
Rebate 3% /6 months(19%) - for South Upto 3 months(DLH)
  18%
Above 3 months upto 6 months(DLH)  22%
Above 6 months upto 12 months22%22%24%
Above 12 months(Penal Interest -2% addnl)22%22%24%
10Muthoot Overdraft Scheme (MOS)Upto 12 months19%19%19%
Above 12 months(Penal Interest -2% addnl)19%19%19%
11Zero Interest Loan (ZIL)0% interest0%0%0%
24% for delayed EMI for the delayed Period
12Freedom Gold Loan (FGL)Rebate 2% / 1M(18%-NACH) - 1% /1M(19%-Non NACH) Upto 12 monthsN.A.20%20%
Above 12 months(Penal Interest -2% addnl)20%20%
13Muthoot EMI Scheme (MES)>6/12 instalments21% p.a.21% p.a.21% p.a.
LOAN SCHEMES FOR REPLEDGERSKeralaOutside Kerala 
14Xpress Business Loan (XBL)Upto 6 month17% p.a.18% p.a.N.A.
Above 6 months upto 9 months19% p.a.20% p.a.
Above 9 months upto 12 months23%p.a24% p.a.
Above 12 months(Penal Interest -2% addnl)24% p.a.24% p.a.
 
Interest is charged on monthly compounding basis.Documentation charge of Rs.1500/- is chargeable for limits sanctioned under MOS scheme.Late payment charges are applicable for loans under MIS [email protected]% p.a. for delay in payment of EMIs.
 
Processing charges are applicable for loans under MHL scheme as below:
Kerala & Other South Indian Branches0.50% of the loan amount irrespective of the loan amount
 
All other branches1% of the loan amount for loans below Rs.10 lakhs
0.5% of the loan amount for loans of Rs.10 lakhs & above and upto Rs.25 lakhs
0.25% of the loan amount for loans of Rs.25 lakhs and above
 
Rebate of interest is available for prompt payment of interest in MSL, MPL & MAL schemes as mentioned below
SchemeKerala & Other South Indian BranchesAll other branches
MSLRebate 2%/1monthRebate 2% /1 month
MPLRebate 2%/1monthRebate 2% /1 month
MSLRebate 4%/3monthN.A.
Rebate 1% /6 months
 
Penal interest @2% p.a. is chargeable in addition to the interest as above on loans outstanding for more than 12 months
 
* Available in selected branches
Service Charges relating to Gold Loans
Sl NoCategoryService charge
1Service charge for gold loans under normal schemes (except loans under MHL and MLS schemes) Applicable only in South India Branches)Rs.10/- for loans upto Rs.10,000/- and Rs.20/- for loans above Rs.10,000/- every time a loan is sanctioned/renewed and a pledge form is printed.
2Processing charges for loans under MHL (Muthoot High value Loan) scheme.

South Branches - 0.5% of the loan amount

North Branches - Loan amount below Rs.5 lakhs-1% of the loan amount, Loans of Rs.5 lakhs and above and less than Rs.10 lakhs-1% of the loan amount, Loans of Rs.10 lakhs and above and less than Rs.25 lakhs-0.5% of the loan amount, Loans of Rs.25 lakhs and above-0.25% of the loan amount

3Documentation charges for limits sanctioned under MOS (Muthoot Overdraft scheme)Rs.1500/- per account (For renewals within 12 months Rs.750/- per account)
4Processing charges for loans under MSS (Muthoot Samsung Scheme)Rs.50/- per loan account
5Processing charges for loans under ZIL (Zero Interest Loan) schemeRs.50/- per loan account
6Charges for lost tokens (Applicable for loans under all schemes)Rs.25/- (in addition to the cost of stamp paper applicable)
7

Notice charges

(Applicable for loans under all schemes)

South Branches:- Ordinary Notice - Rs.10/-

Registered Notice - Rs.40/-

Auction Notice - Rs.70/-

North branches:-

Ordinary Notice(3 times) - Rs.10/- *3=Rs.30/-

Registered Notice - Rs.40/-

Auction Notice - Rs.100/-

(whenever a loan is marked for auction, the charges will be recovered)

8

Administrative charges

(applicable only in North branches)

0.15% of loan amount(Minimum Rs.40/-,maximum Rs.600/-) for all schemes in North branches
9Stamp duty levied by State GovernmentsActuals wherever applicable
10SMS ChargesRs.2/- per account at the time of closure / renewal

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