Quick Answer: What Are The Documents Required For Muthoot Gold Loan?

What is gold loan process?

The idea of a gold loan is simple; you pledge your gold articles and get the loan amount in lieu.

To do so, you visit a lending institution with the gold you want to pledge and the required documents.

The lender performs gold purity checks and determines its weight on the basis of which it evaluates its market value..

What is the rate of gold loan per gram in SBI?

SBI Gold Loan CalculatorEligibility CriteriaSBI Gold LoanGold Loan per gram₹ 2,697 to ₹ 3,296 depending on the purity of goldAge of Borrower21 – 65 yearsMaximum Loan Amount₹ 20 LakhMaximum Loan to Gold Value RatioUp to 75%3 more rows

How can I get gold loan online?

How does Online Gold Loan work?Safelock your Gold ornaments at your nearest Manappuram Finance branch.Register for Online Gold Loan Service and link your savings bank account.Get the loan amount credited to your bank account anytime using our mobile app or website.

How much is gold loan per gram in muthoot?

Muthoot Gold Loan Rate Per Gram by Gold PurityGold PurityGold rate per gram- average of past 30 daysMuthoot best Gold Loan per gram22 carat₹ 48,822₹ 3,29520 carat₹ 44,383₹ 3,29518 carat₹ 39,945₹ 2,696Aug 20, 2020

What is muthoot Topup?

Existing Gold Loan customers of Muthoot Fincorp enjoy an additional benefit – the 24×7 Express Gold Loan. … The Top-up loan is the perfect way to get Money, Anytime, Anywhere. It is instantly delivered into your bank account and can be withdrawn from the bank or ATM.

Is Gold Loan Safe?

For instance, the rate of interest on these loans is between 10% and 24% per annum. In comparison, personal loans charge 16-26 % per annum, depending on your credit profile. Therefore, “it is better to take a loan against gold than a personal loan as the rates will be lower—since this type of loan is secured.

Which bank is best for gold loan?

Best Banks Which Offers Gold Loans in India:Muthoot Finance Gold LoanManappuram Gold LoanSBI Gold LoanHDFC Gold LoanICICI Bank Gold LoanPNB Gold Loan

What happens if gold loan is not paid?

Gold is Auctioned Since the gold has been pledged as collateral against the loan, failure to repay (three consecutive payments or more) will ultimately lead to the gold being auctioned off by the bank or the financial institution.

Does gold loan increase cibil score?

Prompt repayment of any loan can boost your credit score significantly, and Gold Loan is no different. Hence, a Gold Loan taken and repaid early or on time will have a more positive impact on your credit score rather than taking an unsecured personal loan.

How can I check my muthoot gold loan status?

Muthoot Finance Ltd has introduced missed call facility for its customers to track their gold loan status. The customers can give a missed call to the particular number – 08040751515 – from their registered mobile number in order to know loan outstanding and interest due in the gold loan account.

How many types of gold loans are there?

three typesThe lender offers three types of gold loans – Gold Loan, Liquid Gold Loan, Bullet Repayment Gold Loan. The repayment tenures for Gold Loan and Liquid Gold Loan are up to 36 months, while for Bullet Gold Loan it is up to 18 months.

Is Muthoot Finance safe?

The Muthoot Finance issue is risky since the company’s financial performance is particularly vulnerable to volatility in interest rates as well as of gold prices. The collateral against which the company offers loans may suffer erosion in value by the time principal amount is recovered.

How can I pay my Muthoot Gold Loan Online?

How to Make Muthoot Finance Online EMI Payment?Go to Muthoot Finance loan payment page on Paytm.Enter your Loan Account Number.Click on ‘Get Payable Amount’Check your payable amount and proceed with the payment with the mode of your preference.You are done with it.

What is the eligibility for gold loan?

Age: If you are an Indian Citizen of above 18 years but below 75 years, you technically qualify for a gold loan. The quality of gold: The gold ornaments that you would have to keep as collateral with the bank should be between 18 to 22 karats; if you keep bank-minted coins, they have to be 24 karats.

What banks give gold loans?

lending bank/NBFCIt is a secured loan where gold articles such as gold jewellery, ornaments etc. are taken as collateral by the lending bank/NBFC….Bank / NBFCGold Loan Interest RateProcessing FeeHDFC Bank9.50% to 17.55%1.50% + GSTBandhan Bank10.99% to 18.00%1% + GSTICICI Bank10% to 19.76%1% of loan amount26 more rows•Oct 30, 2020

Who can avail gold loan?

In order to apply for a Gold Loan, you must be: A farmer, trader, salaried or self-employed professional, or businessman. Between 21 and 70 years of age.

How can I get gold loan from Muthoot?

Documents Required for Muthoot Gold Loan The documentation process of Muthoot is smooth. You need to submit one proof of identity and one proof of address to get a gold loan. The list of identity and address proofs is as follows: Identity proof: PAN Card, Driving License, Passport, Voter’s ID Card, Aadhar Card.

Does Muthoot Finance buy gold?

We buy Gold from the customer for market value and promise to provide the right amount for Gold. The process is 100% transparent and efficient. … Advanced XRF machines are used to check values, weight and purity of the Gold. At Muthoot Gold Point, the customers can sell Gold for cash.