Muthoot Finance Personal Loan

4.5

Muthoot Finance Personal Loan is a great option for those who need money quickly. It offers competitive interest rates, flexible repayment terms, and processing fees at just 3.5%, making it an attractive choice for borrowers. The loan can be used for various purposes, including home renovations, medical expenses, travel, and more. The application process is quick and easy, and the loan amount can be disbursed within 48 hours. With the Muthoot Finance Ltd Personal Loan, you can get the funds you need when you need them.

Muthoot Finance Personal Loan Details
Interest Rate Starting from 14.50% p.a. onwards
Loan Amount ₹50,000 to ₹10 Lakhs
Loan tenure Between 12 to 60 months
Minimum Monthly Income ₹15,000-25,000 (for those residing in non-metro cities)

₹20,000-30,000 (for those residing in metro cities)

Eligibility Salaried employees from reputed organizations in public sector

Self-employed individuals with a regular good income

 

CIBIL Score 700+
Processing Fee 2%-4% of the loan amount
Foreclosure Charges 2%-6% of the remaining loan amount

Unlock Best Personal Loan Offers From Muthoot Finance Ltd

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Muthoot Finance Ltd Personal Loan

Interest Rate

14% - 22%

Loan Amount

₹50K - ₹10L

EMI Per Lakh

₹2,327 - ₹2,762

Processing Fees

Up to 2% of the loan amount

Pre-Payment Charges

NIL

Features and Benefits of Muthoot Finance Ltd personal loan

With Muthoot’s personal loans, you can enjoy a number of features of benefits. The company lets you enjoy events with instant cash. Here are the features & benefits of the Muthoot personal loan. Before learning the Muthoot personal loan requirements, let’s learn the benefits and features of the personal.

Competitive Rate of Interest  You may avail of the personal loan at an interest rate ranging from 14% – 22% p.a.
Loan Amount Based on your requirements, you can apply for the Muthoot Finance Personal Loan that ranges between Rs. 50,000 and Rs. 10 Lakhs.
Simple Documentation Process Yes, the financial institution offers only a few documents required to get the Loan.
No Collateral Needed You do not require any guarantor to avail of this kind of personal loans.
Flexible Repayment Tenure The tenure exceeds from 12 to 60 months. So, you may select it according to your suitability, thereby reducing the EMI payment burdens significantly.
Quick Disbursal After your verification process of the loan application, you can get the funds in around five working days.

Muthoot Finance Ltd Personal Loan Overview

Muthoot Finance Ltd offers instant loans for personal needs. In general, applying for personal loans from Mutthot will offer an easy process of accomplishing your long-term financial goal. This financial company provides both unsecured and secured personal loans to self-employed and non-salaried professionals. The personal Loan ranges from Rs. 50 thousand with minimal documentation & speedy disbursal procedure. With their personal loan scheme, the company aims for no end-use restrictions. Applicants can apply for the Loan to meet different expenses, such as wedding expenses, vacations, buying durable products, debt consolidation, and medical emergencies, to mention a few.

Documents Required for Muthoot Finance Ltd personal loan

Pointed below are the documents required for Muthoot personal loan:

  • PAN Card (Compulsory)
  • Fully filled out form of the application form
  • Passport Size Photos
  • ID Proof such as Passport/ Aadhaar / Voter ID / Driving License
  • Address Proof: A copy of Property purchase Agreement/ Aadhaar Card/ Utility Bill/ Registered Lease Agreement (not more than three months old)/ Passport/ Driving License
  • Your income proof:  Salary Certificate/ Bank Account Statement / Salary Slip/ Form 16
  • Employment Proof: Letter on the company letterhead that confirms the employment period of the applicant

How an EMI calculation works for Muthoot Finance Ltd personal loans?

Personal loans provide you with a simplified way of getting instant cash for your long-term goals. And if you consider getting a loan from Muthoot Finance Ltd, it’s best to avail the personal Loan by calculating the rate in the online EMI calculator offered by the bank. Get personal loans on terms with flexible EMI ranging from 12 to 60 months! Calculate the EMI by visiting the company website.

FAQs

From refinancing to reducing your interest, we have the answers right here.

Can I switch to floating rate from a fixed rate during my loan tenor?

Yes, during your loan tenure, you can convert the fixed rate loans to the floating rate.

Is Opting For A Personal Loan Worth It?

If you have a decent CIBIL score and a fixed income, you can obtain a personal loan at an affordable interest rate. However, when you have unsteady income and bad CIBIL score, it may lower your chances.

When Does The Personal Loan Repayment Period Start?

Personal loans from Muthoot can be used for accomplishing your financial goals. But the personal Loan comprises an interest rate & a repayment tenure that's around 12 to 60 months.

Can I reduce my Personal Loan tenure in case of a rate hike?

Yes, you can reduce your personal Loan EMI by using various ways. But that depends on one individual to another.

What is The Minimum Salary For A Personal Loan?

The minimum salary for the personal Loan availed by Muthoot is Rs. Rs. 20,000.

Does Muthoot Provide personal Loan at the best rate?

The Muthoot personal loan offers Loan with 13.75% p.a. rate of interest rate each month.

What are the benefits Muthoot Provides on Personal Loan?

Given below are the benefits of Muthoot personal loan.

  • High Loan Amount
  • Competitive Rate of Interest 
  • Simple Documentation Process
  • Flexible Repayment Tenure
  • You don't need Collateral 
  • Quick Disbursal

What are the documents required in Muthoot for a personal Loan?

Here are the documents required for getting personal Loan from Muthoot.

  • PAN Card 
  • The application form
  • ID Proof –Aadhaar / Voter ID / Driving License/ Passport
  • Passport Size Photo
  • Address Proof: The copy of Property purchase Agreement/ Utility Bill/ Aadhaar Card/ Registered Lease Agreement / Driving License/ Passport
  • An income proof (either the Salary Certificate, Bank Account Statement, or Salary Slip)
  • Employment Proof

What is the interest rate of personal Loan in Muthoot?

The Muthoot interest rate for personal Loan ranges at 13.75% p.a.

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