CreditMantri Finserve Private Limited
Door No.3, Block B, No. 147, Workeasy Space Solutions, RK Swamy Centre, Hansa Building, Pathari Road,Thousand Lights, Chennai, Tamil Nadu600006
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Get Muthoot Finance personal loans @ affordable interest rates of 14.5% p.a. and tenures of upto 5 years. High loan amounts upto Rs. 15 Lakhs to meet all your needs. Quick loan processing and minimal documentation.
12 - 60 Months.
Currently not available! for similar products
Muthoot Finance is a renowned NBFC that was launched in 2001. Though gold loans were their primary loan segment, they gradually forayed into other lending products like personal loans, microfinance, insurance, housing finance, mutual funds and many more.
A personal loan can help you meet emergency cash expenses. Personal loans are usually unsecured loans in that they don’t require any collateral or guarantees. Due to its unsecured nature, personal loans are usually offered at higher rates of interest.
Muthoot Personal Loans are offered to eligible applicants at attractive interest rates and convenient repayment terms. Applicants can utilize this loan amount for a variety of needs like marriage, home renovation, higher studies, vacation plans or emergency medical expenses. Muthoot Finance offers both unsecured and secured personal loans based on your eligibility.
Get the loan amount as per your needs – Muthoot Personal Loans offer you loans starting from Rs. 50,000 up to Rs. 15 lakhs so you can plan for your needs comfortably.
Fast processing and quick disbursal – Muthoot personal loans are processed and disbursed within 48 hours. It puts the much needed funding in your hands at the earliest.
Hassle-free documentation with total transparency – Muthoot personal loan is processed with the simplest documentation process. Customers are updated regularly during the entire process to give them total transparency regarding the loan processing.
Get repayment options to suit your needs – Muthoot personal loans come with flexible repayment options to help you repay the loan comfortably, without burdening your monthly cash flow. It gives you tenure options starting from 12 months up to 60 months so that you get the best EMI.
Opt for doorstep service to avoid risks during this pandemic – Muthoot offers doorstep collection of application form and supporting documents so that you don’t have to venture out during these risky times.
Competitive interest rates and charges – Muthoot personal loans come with attractive interest rates and charges. Personal loans are offered an interest rate between 13.5 % to 24% p.a. The processing fees and other charges are also one of the best in the market. Refer to the below table for other charges related to personal loans.
Rs. 50,000 up to Rs. 15 Lakh
13.5% - 24.00%
12 months to 60 months
2 – 4 %
0 to 9 months – Lock-in period
10 to 12 months – 6% of Loan outstanding amount + taxes
>12month – 5% of Loan outstanding amount + taxes
Internal Foreclosure Charges
2.5% of the loan outstanding amount + applicable taxes
1% of the Loan outstanding amount plus applicable taxes
Late Payment Charges
2% of the outstanding loan amount of the month
Cheque Bounce Charges
Rs.1000 plus applicable taxes
Cheque Swapping Charges
Rs.750 plus applicable taxes
One can apply for a Muthoot Personal Loan at their nearest branch or on their website.
The following documents are required to process your personal loan:
Latest bank statement of past 3 months or Bank Passbook of previous 6 months
Two latest salary slip/current dated salary certificate with the latest Form 16
Muthoot Personal Loan is offered to eligible applicants based on their age, income, employment status, exiting liabilities and credit score.
1. Should Muthoot Personal Loan amount be used for specific purposes only?
There are no limitations on what the Personal Loan funds can be used for. You can utilize it for a variety of reasons. You can use it to fund for vacations, wedding costs, medical expenses or care, purchasing of new technological devices, use of home improvement and several other purposes.
2. How long does it take for the personal loan application to be processed?
Muthoot Personal Loan assures that your loan application will be processed and disbursed within 24-48 hours of submitting all the required documents.
3. Can I make part payments towards my personal loan account?
Currently, Muthoot does not allow part payments towards your loan account. However, you can opt for pre-closure of your personal loan after 9 EMIs have been paid. Visit the official website of Muthoot for the process and other charges associated with pre-closure of your personal loan.
4. What is the payment method for the monthly EMIs?
The monthly EMIs will be processed under direct debit from your bank account. You have to give a NACH mandate for the same at the time of loan disbursal.
5. What are the alternate methods to pay my EMI if my NACH mandate is rejected or dishonoured by my bank for some reason?
If the mandate is rejected or dishonoured by your bank, you have to get it rectified with the bank for EMI continuation. In the meanwhile, you can pay your EMI through any of the below channels