A Muthoot Finance Personal Loan can help you manage urgent or planned expenses without providing collateral or security. Interest rates range from 14% to 22% p.a., and repayment tenure is available for up to 5 years.
The loan can be used for medical expenses, weddings, emergencies, and other personal needs. Approved loans can be disbursed within 48 hours.
Muthoot Finance Personal Loan Details
Here are the main details of a Muthoot Finance Personal Loan, including interest rate, loan amount, tenure, and disbursal time:
| Parameter | Details |
| Interest Rate | 14% – 22% p.a. |
| Loan Amount | Rs. 50,000 onwards |
| Tenure | Up to 5 years |
| Loan Purpose | Emergency, Wedding, Medical, Personal Use & Others |
| Disbursal Time | Within 48 hours |
| Instalment Dates | 5th or 10th of every month |
Muthoot Finance Personal Loan Interest Rates
Muthoot Finance Personal Loan interest rates range from 14% to 22% p.a. The final rate may depend on the applicant’s credit profile, loan amount, income, and other lending conditions.
| Loan Type | Interest Rate (p.a.) |
| Muthoot Personal Loan Interest Rate | 14% – 22% p.a. |
Muthoot Finance Personal Loan Fees & Charges
Before applying for a Muthoot Finance Personal Loan, check the processing fee, cancellation fee, cheque bounce charges, and other applicable costs.
| Fee Type | Applicable Charges |
| Processing Fee | 2% – 4% of approved loan amount + Tax |
| Loan Repayment Tenure | Up to 5 years |
| Loan Cancellation Fee | Rs. 5,000 + tax |
| Cheque Bounce Charges | Rs. 1,000 (per bounce) + tax |
| Cheque Swapping Charges | Rs. 750 + tax |
| Stamp Duty | As per state laws |
Prepayment Charges
Prepayment charges apply if you repay part or all of your loan before the scheduled tenure ends.
| Tenure Period | Prepayment Charges |
| 0 to 9 Months | Lock-in period |
| 10 to 12 Months | 6% of Loan outstanding amount + taxes |
| Over 12 Months | 5% of Loan outstanding amount + taxes |
Other Charges
| Charge Type | Foreclosure & Reschedulement Rates |
| Internal Foreclosure | 2.5% (Loan outstanding amount) + Tax |
| Reschedulement Charges | 1% of Loan outstanding amount + taxes |
Muthoot Finance Personal Loan Eligibility Criteria
You need to meet the basic eligibility requirements before applying for a Muthoot Finance Personal Loan.
| Eligibility Factor | Requirement Details |
| Employment Type | Regular income earner |
| Age Limit | 21 – 60 years |
| CIBIL Score | 650 and higher |
| Minimum Monthly Income | Rs. 15,000 |
| Residential Status | Resident of India |
Documents Required for Muthoot Finance Personal Loan
The documents required can vary for salaried and self-employed applicants. However, all applicants need to provide basic identity, address, and income proof.
General Documents Required
- Identity Proof: Voter ID, PAN Card, Passport, or Aadhaar Card.
- Address Proof: Aadhaar Card, Driving Licence, Voter ID, Passport, Utility Bills, or Rent Agreement.
- Income Proof: Salary slips for the last 3 months, Income Tax Return certificate, or Form 16.
- Photograph: Recent passport-size photograph.
Documents for Salaried Employees
- Salary Slips: Last 3 months’ salary slips.
- Form 16: Latest Form 16 document.
- Bank Statements: Last 6 months’ bank statements showing salary credits.
Documents for Self-Employed Individuals
- IT Returns: Income Tax Returns for the last 3 years.
- Business Registration: Latest business registration certificate.
- Bank Statements: Last 6 months’ active bank statements.
Muthoot Finance Loan EMI Calculator
You can use a Muthoot Finance Personal Loan EMI Calculator to estimate your monthly repayment before taking the loan.
Enter the following details:
- Loan amount
- Interest rate
- Repayment tenure
The calculator will show your estimated EMI and can help you plan your monthly budget.
Features & Benefits of Muthoot Finance Personal Loan
Here are some of the main features of a Muthoot Finance Personal Loan:
- Interest Rates from 14% p.a.: The applicable rate depends on the borrower’s profile.
- No Collateral Required: You do not need to pledge property or other assets.
- Flexible Repayment Tenure: Repayment tenure is available for up to 5 years.
- Quick Disbursal: Approved loan amounts can be disbursed within 48 hours.
- Minimal Documentation: Basic identity, address, and income documents are required.
- Multiple Loan Uses: Funds can be used for emergencies, medical expenses, weddings, or other personal needs.
Compare Muthoot Finance Personal Loan Vs Other Lenders
Compare Muthoot finance Personal Loan with other lenders to find the best terms, rates, and eligibility criteria. All for your borrowing needs & so that you make an informed financial decision-
| Banks/NBFCs | Interest Rates(p.a) | Processing Fees |
| Muthoot Finance | 13.5% onwards | Up to 3% |
| SBI | 10% onwards | Up to 1.5% |
| HDFC Bank | 9.99% onwards | Up to ₹6,500 |
| ICICI Bank | 9.99% onwards | Up to 2.5% |
| Axis Bank | 9.99% onwards | Up to 2% |
| Tata Capital | 10.99% onwards | Up to 3.5% |
| Induslnd Bank | 10.49% onwards | Up to 3.5% |
| PaySense | 14% onwards | Up to 3% |
| Bajaj Finserv | 10% onwards | Up to 3.93% |
| Money View | 14% onwards | Up to 4% |
| Cashe | 27% onwards | Up to 3% |
Note: The interest rates mentioned above are subject to change at the lender’s discretion.
How to Apply For Muthoot Finance Loans with Buddy Loan?
Follow these steps to apply for a Muthoot Finance personal loan on Buddy Loan:
- Step 1: Visit buddyloan.com or Download & install the Buddy Loan app (Android or iOS).
- Step 2: Open the Personal Loan Application Page. Provide the mobile number and enter the received OTP.
- Step 3: Specify the desired loan amount & personal email. Next, choose the Personal Loan option
- Step 4: Choose the employment type (Salaried, Self-Employed, or Student) and the salary mode (bank or cash).
- Step 5: Enter your work details (Including company name, years of service and Designation)
- Step 6: Enter your personal details (Including Full Name, PAN, address DOB & Gender)
- Step 7: Provide your communication address, and income details and Click the ‘Submit’ button.
Ready to take the next step? Apply for a Personal loan now!
Muthoot Finance Loan Repayment
Loan repayments are a follow-up process after taking a loan. Over time, the borrower repays the funds. Repaying your loans on time increases your chances for a quicker loan process in the future.
There are a few ways to repay a Muthoot Finance loan. You can:
- Pay in full: This is the most common way to repay a loan. You can enclose the full loan amount at a single repayment, or you can pay it off in installments.
- Make monthly EMI payments: This is another common way to repay a loan. You will make a fixed monthly payment for a specified period, until you repay the loan in full amount.
- Prepay your loan: This means repaying the loan before the due date. You can do this if you have the money available, and it can save you money on interest.
- Make a partial payment: This means making a payment that is less than the full monthly EMI. This can be helpful if you are having trouble making your monthly payments.
Muthoot Finance Personal Loan Customer Care Number
You can contact Muthoot Finance for help with personal loan applications, repayments, or branch-related queries through the following channels:
| Channel | Contact Details |
| Toll-Free Customer Care Number | 1800 313 1212 / 1800 102 1616 |
| Official Email ID | personalloans@muthootfinance.com / cs@muthootgroup.com |
| Official Website | [suspicious link removed] |
| Customer Service Portal | Muthoot Direct Portal / iMuthoot App |
Ready to take the next step? Apply for a Personal loan now!
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