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Muthoot Finance Personal Loan
A personal loan, often known as a ‘all-purpose loan,’ comes in useful when you have an instant financial need with a short turnaround time. A personal loan, unlike other secured lending products, has simple eligibility and paperwork requirements. To meet one’s personal needs, one can now get a quick personal loan. When an individual requires funds quickly, a personal loan can be obtained with little documentation, processing time, and instant disbursement to the customer’s bank account. It is an excellent solution for individuals to meet their immediate cash needs.
Comparison of Interest Rates of Muthoot Finance Personal Loan vs other Banks/NBFCs
| Banks | Interest Rates (per annum) |
|---|---|
| Muthoot Finance Personal Loan | 14% onwards |
| SBI | 9.60% â 13.85% |
| 9.60% â 13.85% | 10.25% â 21% |
| PNB | 7.90% â 14.50% |
| ICICI Bank | 10.50% â 19% |
| Axis Bank | 10.25% p.a. onwards |
| Kotak Mahindra Bank | 10.25% onwards |
| IndusInd Bank | 11.00% onwards |
| IDFC First Bank | 10.49% â 23% |
| Bajaj Finserv | 13.00% onwards |
| Tata Capital | 10.99% onwards |
Different Kinds of Muthoot Finance Personal Loan
Muthoot Mahila Loan (MML)
Purpose: The Muthoot Mahila Loan, or MML, is a specialised loan programme for female borrowers.
Loan Amount: Rs.1,500 – Rs.50,000
Interest Rate: 12% p.a.
Processing Fee: 0.25% to 1%
Muthoot Super Loan (MSL)
Purpose: It is for customers who want to borrow a larger amount of money against their gold and take advantage of discounts for paying back the loan on time.
Loan Amount: Rs.1,500 – Rs.99,990
Interest Rate: 23.5% p.a.
Processing Fee: 0.25% to 1%
Muthoot Advantage Loan (MAL)
Purpose: The Muthoot Advantage Loan is a special gold loan scheme designed for people looking for a reasonable per gramme rate as well as competitive interest rates.
Loan Amount: Upto Rs.5 lakh
Interest Rate: 18% p.a.
Processing Fee: 0.25% to 1%
Muthoot High Value Loan (MHL)
Purpose: This scheme is most beneficial for customers who own their own businesses, such as property dealers, traders, shop owners, and builders, and who are looking for a loan with a longer repayment period.
Loan Amount: Rs.3 lakh – No upper limit
Interest Rate: 16% p.a. onwards
Processing Fee: 0.25% to 1%
Muthoot High Value Loan Plus (MHP)
Purpose: This scheme provides special benefits to dealers, traders, shop owners, property dealers, and members of the business community.
Loan Amount: Rs.5 lakh – No upper limit
Interest Rate: 12% p.a. onwards
Processing Fee: 0.25% to 1%
Muthoot EMI Scheme (MES)
Purpose: The Muthoot EMI Scheme, also known as the MES, is ideal for all salaried individuals and professionals looking for a gold loan that can be repaid through EMIs rather than bullet payments or a lump sum paymen
Loan Amount: Rs.20,000 – No upper limit
Interest Rate: 21% p.a. (diminishing balance method)
Processing Fee: 0.25% to 1%
Muthoot Overdraft Scheme (MOS)
Purpose: The Muthoot Overdraft Scheme (MOS) is created specifically for traders, businessmen, chemists, petrol station owners, shopkeepers, and other professionals.
Loan Amount:Rs.2 lakh – Rs.50 lakh
Interest Rate:19% p.a. to 21% p.a.
Processing Fee: 0.25% to 1%
Muthoot Ultimate Loan (MUL)
Purpose: This is ideal for people looking for a gold loan where they can get the maximum loan amount while also earning discounts by paying their monthly interests on time.
Loan Amount: Rs.1,500 – No upper limit
Interest Rate: 24% p.a
Processing Fee: 0.25% to 1%
One Percent Loan
Purpose: The Muthoot One Percent Loan is intended for customers seeking a gold loan with lower interest rates.
Loan Amount: Rs.1,500 – Rs.50,000
Interest Rate: 12% p.a.
Processing Fee: 0.25% to 1%
Muthoot Delight Loan (MDL)
Purpose: This is specifically designed for borrowers seeking a loan amount of up to Rs.2 lakh at a low interest rate
Loan Amount: Rs.1,500 – Rs.2 lakh
Interest Rate: 26% p.a. – 27% p.a.
Processing Fee: 0.25% to 1%
Muthoot Premier Loan (MPL)
Purpose: This is a gold loan scheme for borrowers who want to borrow up to Rs.1 lakh for a period of one year.
Loan Amount: Rs.1 lakh – No limit
Interest Rate: 23% p.a.
Processing Fee: 0.25% to 1%
Muthoot Super Saver Scheme (SSS)
Purpose: The Super Saver Scheme (SSS) provides gold loans with loan amounts beginning at Rs.199 lakh. On your interest, you can get a 12.1 percent discount for 30 days, a 9 percent discount for 60 days, and a 1% discount for 180 days.
Loan Amount: Rs.1.99 lakh – No limit
Interest Rate: 24% p.a. – 26% p.a.
Processing Fee: 0.25% to 1%
Why Choose a Muthoot Finance Personal Loan?
When people need to finance a long-term goal, personal loans are a convenient option. The EMI that a person would be responsible for is an important factor to consider before taking out a personal loan. Muthoot Finance takes the time to get to know the customers and give them the best possible solutions for their needs. For added convenience, one can apply for a personal loan online.
When you take out a personal loan from Muthoot Finance, you can take advantage of a number of advantages. Access to a loan with no collateral and minimal documentation is one of them.
Prepayment of Muthoot Finance Personal Loan
Personal loans with low interest rates and rapid processing are available from us. Flexible repayment choices with varied tenures are also among the benefits of our service. Individuals can get a personal loan from Muthoot Finance through a straightforward and easy process, repayable as EMI for a maximum of sixty months. If you’re looking for unsecured loans for any reason, we have the greatest deals for you.
What makes RupiLoan right platform to apply for an Individual Loan?
Most trustworthy lenders
In order to present you with the best loan alternatives from various lenders in one place, Rupiloan has partnered with more than 30 banks, non-bank financial institutions, and fintech businesses.
Make comparisons
What’s the best option? Using a few mouse clicks, you can research and compare personal loan offers from India’s leading banks, non-banking financial institutions (NBFCs), all on one screen.
Personalised options available
With a high degree of acceptance assurance, we provide customised solutions RupiLoan ranks personal loan offers based on your credit score and other qualifying factors to determine which ones are most relevant to you. Your loan application will be accepted if you use this information to help you choose the best deal.
Can gain benefit from Pre-approved loans
These loans are those that have already been authorised. Once you’ve joined the Rupiloan community, you’ll get personalised pre-approval offers for personal loans based on your credit score and history. There is minimal to no verification required for these loans and the processing expenses are inexpensive.
Right advice
RupiLoan’s team of experts will assist you in every stage of the procedure, coordinate with lending banks/NBFCs, and help you get the best personal loan for your needs.
When it comes to applying for a personal loan, Rupiloan.com is a 100% digital-only company, which means that you can apply from the comfort of your own home with zero to little paperwork and an entirely digital experience.
End-to-end Assistance
After you complete your loan application, RupiLoan representatives will visit your home or place of business at a mutually agreed-upon time and day to pick up any physical papers that is needed. RupiLoan takes care of everything for you, so you don’t have to go to a lending institution in person to submit your documentation. Comprehensive Help from Start to Finish RupiLoan’s team is always by your side, working with the lenders to make sure you have an excellent experience from beginning to finish, from searching for a loan choice to getting the sanctioned money in your bank account.
