Muthoot Finance Gold Loan Calculator
Muthoot Finance offers gold loans at 10-24% per annum depending on the scheme. The Popular scheme (daily collection plan) is cheapest. At 12% for Rs 1 lakh, the annual interest is Rs 12,000. Muthoot processes loans in under 30 minutes and offers up to Rs 1.5 crore against gold.
Gold Value
₹3,30,000
Loan Amount
₹2,47,500
Monthly Interest
₹1,959
Total Interest
₹23,513
Gold price placeholder: ₹7,200/gram for 24K. RBI allows max 75% LTV for gold loans. Actual rates vary by lender and gold quality assessment.
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Common questions about Muthoot Finance Gold Loan Calculator
What gold loan schemes does Muthoot Finance offer?
Muthoot Popular scheme: lowest rate (around 10-12%), requires regular interest collection. Muthoot Express: mid-range rate, flexible repayment. Muthoot Capital scheme: higher rate but maximum LTV. All schemes allow early repayment without penalty. The rate varies with the scheme chosen and changes with Muthoot's periodic revisions - always confirm current rate at your branch.
Is Muthoot Finance safe to pledge gold with?
Muthoot Finance is India's largest gold loan NBFC, listed on BSE and NSE, regulated by RBI. Gold is stored in vaults under CCTV surveillance, and pledged gold is insured against theft and natural disasters. Your receipt (pledge card) must be shown to reclaim gold. Keep the document safe - replacement requires police verification.
What is the difference between Muthoot and Manappuram gold loan?
Both are large, RBI-regulated gold loan NBFCs. Key differences: Muthoot Finance has more branches in North and East India. Manappuram leads in South India, especially Kerala. Rates are comparable (10-24%). Manappuram offers an online gold loan top-up facility. Both have similar LTV caps (75% as per RBI). Compare the specific scheme rate at your nearest branch of each.