If you are in need of immediate funds, then Muthoot Finance Personal Loan is the right choice for you.
Because Muthoot Finance is one of the oldest, reputed, and most trusted finance companies in India.
Here you will get complete information about Muthoot finance personal loans like loan amount, loan eligibility, age limit, tenure, interest rates, how to apply, processing fees, stamp duty, documents required, pre-payment penalties, charges, and why you should take a Personal Loan from Muthoot Finance, etc.
Muthoot Finance offers both secured and unsecured personal loans start from an amount as low as Rs. 50,000 to applicants at an affordable interest rate with minimal documentation and quick loan disbursal into your bank account.
Features and Benefits of Muthoot Finance Personal Loan
- Applicants can avail a personal loan for an amount as low as INR 50,000 and maximum can go up to INR 10,00,000 based on applicant profile with minimal documentation and quick loan disbursal from Muthoot Finance.
- Muthoot Finance personal loans at affordable interest rates and with quick processing.
- Muthoot Finance Personal Loan Interest Rate starting from 14% which is Competitive Interest Rates and charges if we compare with other finance companies in India.
- Lowest EMI is INR 2,327/- per lakh
- Muthoot Finance Personal Loan repayment tenure of up to 5 years.
- You don’t need to visit Muthoot Branch because Muthoot Finance gives doorstep service where representative will visit your home to get the process of loan application and document collection.
- Flexible Repayment Options with multiple tenures.
Muthoot Finance Personal Loan Eligibility
As we mentioned earlier, Muthoot Finance offers both secured and unsecured personal loans. Below are the eligibility criteria for both Personal Loans.
To be eligible for an unsecured Muthoot Finance Personal Loan:–
|An Applicant must be a self-employed individual or a regular salaried employee of a Public Sector Unit or a reputed establishment.|
|To avail of a Muthoot Finance Personal Loan, Age of the applicant should be between 23 to 60 years.|
|An Applicant must be earning a minimum net monthly income of INR 20,000.|
For Secured Muthoot Finance Personal Loan:–
An applicant who is not eligible to avail of an unsecured Muthoot Finance personal loan and is willing to provide 100% collateral security in the form of RBI bonds, LIC policies, NSCs, etc can apply for a secured personal loan.
Muthoot Finance Personal Loan Interest Rates
As we mentioned earlier, Muthoot Finance Personal Loan interest rates range started from 14.00% to 24.00% and the final interest rate offered to an applicant depends on its age, salary, cibil score, and risk profile.
Muthoot Finance Personal Loan Processing Fees & Charges
- Processing Fees up to 3.5% of loan sanctioned + GST.
- Stamp duty charges as per applicable state law.
- Others charges to be shared by the lender once applicant application is accepted.
Documents Required For Muthoot Finance Personal Loan
- Proof of Identity – Any one copy of Pan Card, Passport, Voters ID card, Driving License.
- Address Proof – Any one copy of Ration card, Driving License, Voters ID card, Property purchase Agreement, Registered Lease Agreement, Passport, Telephone Bill, Electricity bill and Life Insurance policy.
- Income Proof – Latest Salary Slip, Last 6 Months Bank Statements, Form 16, Previous Year ITR.
- 2 Passport Size Photos
- Loan Application Form, if you are applying online.
How to Apply for Muthoot Finance Personal Loan
Step by Step Process to get a personal loan online from Muthoot Finance.
Step 1 – Visit the official website of Muthoot Finance and fill in the all necessary details required by the lender and submit your application form.
Step 2 – After submitting the application form, Muthoot Finance will check your eligibility and provide you details about the eligible amount you can avail of.
Step 3 – If you agree, then you are required to submit essential documents.
Step 4 – After this, your documents will be fastly processed by Muthoot Finance, and after the successful approval of the loan, the funds will be quickly disbursed to your Bank Account.
Step By Step Process to get a personal loan offline from Muthoot Finance.
Step 1 – Visit your nearest Muthoot Finance branch and fill application form given by the branch with the loan amount required, and other necessary details.
Step 2 – In Muthoot Finance Branch a representative will explain to you everything about your loans like the eligibility of the loan, interest rates, loan terms, tenure, processing fees, prepayment, and foreclosure charges.
Step 3 – After submitting the application form to the branch with the required documents, the branch will be provided you an application reference number. You can use this reference number to track the status of your personal loan application in Muthoot Finance.
Step 4 – Your documents will be fastly processed by Muthoot Finance, and after the successful verification of documents and approval of the loan, the funds will be quickly disbursed to your Bank Account.
FAQ Related To Muthoot Finance Personal Loan
Why should I take a personal loan from Muthoot Finance?
Muthoot Finance is one of the oldest, reputed, and most trusted finance companies in India and Muthoot provides personal loans at an affordable interest rate with minimal documentation, fast processing, and quick loan disbursal into your bank account with flexible repayment options.
What is the rate of interest for Muthoot Finance’s personal loan?
Muthoot Finance Personal Loan Interest Rate starting from 14% p.a. However specific interest rate offered to an applicant depends on its age, salary, Cibil score, and risk profile.
What is the lowest EMI per lakh on a personal loan from Muthoot Finance?
Lowest EMI is INR 2,327/- per lakh.
What is the loan tenure for Muthoot Finance Personal Loan?
Muthoot Finance Personal Loan repayment tenure of minimum 12 months and maximum up to 60 months.