Muthoot Finance Personal Loan
- Interest Rate starting from 14%
- Loan Amount up to Rs.10 lakhs
- Loan Tenure up to 5 years
- Processing Fee up to 3.5% of loan amount + GST
Muthoot Finance offers personal loans up to Rs.10 lakhs with the requirement of minimum documentation and a quick disbursal of funds. A borrower can avail of a Muthoot Finance personal loan for reasons ranging from medical emergencies, vacations and weddings.
| Muthoot Finance Personal Loan Summary | |
|---|---|
| Interest Rate | 14% onwards |
| Loan Amount | Up to Rs.10 lakhs |
| Loan Tenure | Up to 5 years |
| Processing Charges | Up to 3.5% of loan amount + GST |
Note : The above rates are subject to change at the discretion of the banks or on the basis of RBI directives.
Muthoot Finance Personal Loan Eligibility
To be eligible for a Muthoot Finance Personal Loan,
- A self-employed individual or a salaried employee of a Public Sector Unit or a reputed institution.
- Between the ages of 26 and 58 years of age.
- Earning with a minimum net monthly income of Rs.20,000.
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Muthoot Finance Personal Loan Interest Rates
Muthoot Finance Personal Loan interest rates range from 14% to 24%. The final interest rate offered to a customer depends on the base rate and the customer’s risk profile.
Note :The above rates are subject to change at the discretion of the banks or on the basis of RBI directives.
Muthoot Finance Personal Loan Processing Fees & Charges
Here’s a list of the processing and other fees charged by Muthoot Finance when you apply for a Personal Loan.
| Particulars | Charges |
|---|---|
| Loan processing charges | Up to 3.50% of the loan amount + GST |
| Other Charges | To be shared by the lender once application is accepted |
Note :The above rates are subject to change at the discretion of the banks without prior notice.
Muthoot Finance Personal Loan EMI Calculation
Fincity experts highly recommend that you conduct a detailed research of all available personal loan options before shortlisting the best ones. Using the Fincity Personal Loan EMI calculator at this stage will help you compare EMI schedules for each of these options before narrowing down to the most suitable one.
Muthoot Finance Personal Loan Documents Required
Here are the main documents individuals will need while applying for a Muthoot Finance Personal Loan.
- Proof of Identity: A copy of Passport/ Aadhaar / Voter ID/ Driving License/ PAN Card
- Proof of Address: A copy of Aadhaar Card/ Registered Lease Agreement/ Property purchase Agreement/ Utility Bill (not more than 3 months old)/ Passport/ Driving License
- Proof of Income: Salary Slip/ Bank Account Statement/ Form 16/ Previous Year ITR/ P&L Statement and Balance Sheet/ Bank Account Statement
- Proof of Business: Certificate of Practice/ Partnership Deed/ GST Registration and Filing Documents/ MOA & AOA/ Shop Act License
Note : Required documents must be self-attested and may slightly differ.
Muthoot Finance Personal Loan Scheme Benefits
With Muthoot Finance, borrowers can avail of a flexible loan amount of up to Rs.10 lakhs for up to 5 years. The lender is known for their minimum documentation, and quick loan processing and disbursal.
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