You can easily apply for a gold loan from the comfort of your home by downloading our Gold Loan@Home mobile application. Another way is to call our toll-free customer care number (1800-202-1212) or fill up the form by clicking ‘Get a loan today’ on our website. A representative will contact you to fix an appointment for valuation and loan processing at your doorstep.
The documents required to apply for a gold loan online are minimal. You need a KYC document like an Aadhaar card, or voter ID for identity and current address proof, required documents and a loan application specifying the purpose and need for the loan. No other documentation or paperwork is needed to apply for a gold loan online. Moreover, there are no end-use restrictions – you can use the loan amount for any personal or business purpose without having to disclose reasons to the lender. However, loans shall not be used for any speculative or illegal or unlawful purposes violating the laws of the Country.
The eligibility criteria of Gold Loan@Home to avail gold loan is quite simple. An individual’s minimum age should be 21 years or above, need to be an Indian resident, and the legal owner of the gold jewellery he/she wishes to pledge. There are no specific income requirements or credit score mandates. Salaried and self-employed individuals, working professionals, businessmen, traders, entrepreneurs, homemakers and retirees can all take a loan against their gold. Our minimum documentation and processing make gold loans easily accessible against gold ornaments.
The minimum interest rate for a gold loan is 7 days or 15 days as specified in the sanction letter based on scheme chosen. On the other hand, the maximum term for standard schemes spans 6 or 12 months. The minimum tenure is like you can close the gold loan at any point in time. We offer both minimum and maximum gold loan amounts, with the minimum starting at Rs 1500, subject to the customer’s eligibility for a gold loan. To know more, you can visit the nearest branch or take advantage of our Gold Loan at Home service by dialing 1800 202 1212.
The minimum limit for a gold loan from Loan@home is 10000 INR. This means that you can avail a gold loan starting from 1500 Indian Rupees from branch directly and the loan amount can go higher depending on the value and quantity of gold you provide as collateral.
For any information regarding gold loans, you can visit your nearest Muthoot Finance branch or avail of our gold Loan at Home service by calling toll-free number 1800 202 1212.
Yes. You can make partial payments of gold loans, and conveniently utilize the Gold Loan@Home mobile application for loan repayments. Further, for partial payment, you can settle a portion of the loan amount, including the interest on the gold loan. Our Gold Loan@Home mobile app serves as a hassle-free online platform for making payments, eliminating the need to visit a physical branch. Moreover, you can use the mobile app to monitor your payment history and stay updated on the loan tenure.
Gold loan settlement involves repaying the borrowed amount along with accrued interest to close the loan and retrieve the pledged gold items. They should pay the outstanding loan amount, which includes the principal loan sum and accrued interest and any other charges if applicable. The loan is considered closed after the full payment. Customers can then request the return of their pledged gold ornaments. The branch staff will verify the loan closure and facilitate the return of the gold.
If the customer fails to pay the loan amount to Muthoot Finance on the scheduled due date, a penal interest will be charged on the loan amount from the due date of the loan. This means that in addition to the interest rate, an extra rate, known as the penal charges, will be applied to the outstanding loan amount from the due date onwards. This penalty is intended to incentivize borrowers to make timely repayments and discourage delays in loan repayment.
Muthoot Finance Loan@Home offers several gold loan tenure options. There is no minimum tenure you can close the loan even on the next day but minimum of 7 days or 15 days interest rate needs to be payed while the maximum tenure is upto 12 months. In case one wishes to opt for a monthly interest payment scheme, then the maximum tenure of the gold loan will be 6 or 12 months – depending on one’s eligibility and loan requirements. The lock-in period will depend on the scheme and tenure of the loan availed by the customer. Further, there are no pre-payment penalties on gold loans and one only has to pay the interest.
The only gold loan security needed to avail the gold Loan@Home service is the gold ornaments that a customer is planning to pledge. No external or third-party guarantor is required as security to avail a gold loan. At Muthoot Finance, we are committed to keeping gold loans as a quick and reliable option for those in need of urgent funds. Our unique Loan@Home service is aimed at making gold loans accessible and convenient for everyone. With minimal documentation, easy process and instant disbursement, our customers are able to avail gold loans of any amount starting INR 10,000, from the comfort of their homes.
Keeping our customer’s convenience in mind, we offer easy loan repayment options along with partial repayment, for a gold loan. Customers can pay their gold loan through a range of digital and online options such as UPI payment modes like Phone Pay, PayTM, Gpay etc and the iMuthoot App. Those who want to pay a portion of their borrowed amount before the tenure can opt for a partial repayment towards their gold loan amount. Additionally, we have flexible tenure options for repayment of gold loans; these can range anywhere from 6 months to 12 months depending the scheme one has chosen and the gold loan amount.
Yes, a gold loan account can be prepaid as well as foreclosed. Although we do not have any additional foreclosure or prepayment charges on gold loans, one has to pay the interest amount charged till that date. For more information, kindly call us on our customer care number or request a callback by filling out callback form on the Loan@Home website.
Guarantor is not required for availing gold loan from Loan@Home. One only requires the pledged gold ornaments as security for availing the gold loan. However, since we transfer the loan amount directly to our customer’s bank account, having a valid bank account is a must. Please feel free to get in touch with us via our customer care number listed on our website.
A primary concern while availing a gold loan is whether the gold pledged is safe. With Muthoot Finance’s Loan@Home service, you can rest assured that your pledged gold is in safe hands. Our 7 layer of security measure includes a multi-layer safety protection system. Some of the measures include:
• An AI CCTV Surveillance that runs 24/7, collecting footage of the entire premises and alerting personnel in real-time in case of any anomalies.
• Trained security guards to guard the strong rooms and all entry points.
• Reinforced Grills Surrounding the Banking Area.
• Steel Cellular Cabinets for Safe Storage.
• Each locker is equipped with IoT sensors that detect unusual and unauthorized activity.
• Real-time Alert Monitoring System.
• Strong Room Door with Electronic Locking System.
Above all once you have pledged your gold with us, we provide free insurance for your gold. So in case of any theft or natural disaster, we completely got you covered.
For more details on availing a gold loan using the Loan@Home service, you can contact our representatives through our customer care number 1800 202 1212 or request a call back by filling out the form available on our website. You can also go through the information available on our website or download the Loan@Home app that lists all the details regarding a gold loan. The app can be easily downloaded on your smartphone from the App Store or the Play Store.
We offer a comprehensive range of schemes for our customers. You can select the scheme amount ranging from below a lakh to above 20 lakh, based on which the different types of schemes will be shown to you. You can have a look at the different schemes here
We offer a service locator to help our customers check service availability. You need to just enter the pin code of your location and check if the Gold Loan@Home services are available in your area. For more information, you can contact our customer service.
Since we transfer the loan amount directly to the customer’s bank account, having a valid bank account is necessary.
However, for example, if your father wants to start a café business but has no bank account, you can take the loan under your name and account, using the ‘Gold Loan@Home’ service.
We want to give our customers the satisfaction of availing a gold loan with us and try our level best to make sure that no dreams are compromised upon. Please feel free to get in touch with us in case of any queries.
We understand that one may require a loan at any point in life – to start a business, for a medical emergency, and so on. And, hence there are no constraints as to avail a gold loan. You can use the ‘Gold Loan@Home’ service for any valid purpose. All you need to do is tell us your reason, get the verification done at home, and we will transfer the required loan amount immediately.
After you raise an instant gold loan request using the ‘Gold Loan@Home’ service, one of our executives visit your house. The evaluation of gold, e-documentation, KYC verification, and other processes are done by our loan executive at your home. After that, the loan amount will be disbursed to your bank account. Rest assured, our executive will take your leave only once you receive the loan amount.
