Share the pledge form with us, after which a tailored offer based on the customer’s requirement will be suggested.
A gold loan transfer, also known as a takeover gold loan, is something that allows you to shift an ongoing loan from one lender to another. From saving a lot on the total payable interest to getting a higher LTV ratio, there are a number of benefits of transferring an existing gold loan to Loan at Home by Muthoot Finance.
Share the pledge form with us, after which a tailored offer based on the customer’s requirement will be suggested.
The customer will be offered personalised guidance regarding the same from our Gold Loan@Home executive.
The customer can update the KYC documents through the Gold Loan@Home mobile application or register for a home visit.
The principal amount will be paid by us. Customers only have to pay the difference, if any.
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Gold loan balance transfer is a process using which a borrower can move an existing gold loan from one lender to another. Through the quick and hassle-free loan transfer facility, Muthoot Finance Loan at Home allows you to get your outstanding gold loan refinanced at lower interest rates. Also known as gold loan takeover, this facility helps you save a significant amount on the interest applicable to an ongoing loan. Other than this, it also comes with a number of benefits, such as higher loan amounts, flexible repayment schemes, better security of pledged gold assets, etc.
Gold loan takeover was originally conceptualized to help people choose the best gold loan option available in the market. Here are a few benefits that you can avail by initiating the loan transfer process with us:
We offer quick gold loans at the most competitive interest rates in the market. If you want to spend some real money on the total payable interest, you can consider a loan transfer to Muthoot Finance Loan at Home.
At Muthoot Finance Loan at Home, you get a wide range of options. Each of these loan schemes has its own benefits. When you choose to get your existing gold loan transferred, you can choose any of these options.
Generally, financial entities have LTV ratios ranging anywhere between 70-80%. Here at Muthoot Finance Loan at Home, we offer the highest LTV ratio. By transferring your loan to us, you can ensure that you get the best value for your gold assets.
Whether you need some consultation related to your loan or want to submit the documents, there is no need to step out of the house. At Muthoot Finance Loan at Home, we provide 30 minutes doorstep service. All you need to do is reach out to us, and a home visit will be scheduled at a time of your convenience.
Any individual who is above 18 years and has an ongoing gold loan with a bank or NBFC can apply for a gold loan transfer. The applicant can be either a salaried or self-employed individual with enough repayment capacity.
There can be times when you are not satisfied with the security provided by your current lender for your pledged gold ornaments. In such a situation, getting your loan transferred is one of the best decisions, as we keep your gold assets in a completely secured vault.
We give you complete flexibility when it comes to repaying the loan amount. There are several repayment options available. You can choose a loan tenure and repayment schedule of your choice and pay the loan off without putting any extra stress on your pocket.
This is another important reason why you should consider availing a takeover gold loan from us. We offer a part-release facility for our gold loan customers. It allows you to repay a part of the loan and take some of the pledged gold assets back before the end of your loan tenure.
Some other benefits that you get as our valued customer are 24x7 access to the loan account, free insurance of your gold items, no hidden charges, same day release, etc.
The following documents are required to initiate the gold loan transfer process:
To transfer an existing gold loan from your current lender to Muthoot Finance Loan at Home, you don’t have to arrange for the outstanding amount. You can get your loan shifted and start availing all the benefits we offer to our customers.
Step 1: Share the pledge form of your existing gold loan with us. After this, an offer customised as per your specific requirements will be suggested to you.
Step 2: One of our representatives will reach out to you and provide personalised guidance regarding the same.
Step 3: Now you can upload all the KYC documents through the Loan at Home mobile application or schedule a home visit as per your convenience.
Step 4: Now, the principal amount of your ongoing loan will be paid. You only have to pay the difference, if there is any.
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.
With us, the loan disbursement takes place instantly and the amount is directly transferred to your bank account. Since the entire loan transfer procedure takes place at the comfort and privacy of your home in your presence, there is 100% transparency. You can raise a loan request by giving us a missed call or via the ‘Gold Loan@Home’ mobile application.
No, the requested loan amount is transferred directly to your bank accounts. With credit cards, mobile wallets, and so on, there are chances of payments getting stuck due to server failure or similar issues. Since customer satisfaction is a priority for us, we do not want our customers to face any hassles with their gold loan. Hence, as part of our security protocols, we transfer the amount to the bank account.
Yes, you can transfer your gold loan from the existing lender to your new gold loan account at Muthoot Finance Limited (MFL).
To shift your existing gold loan, you don’t have to arrange for the current due amount. All you have to do is share the pledge form of your existing gold loan and we will help you shift it to your MFL account. Along with this, customers who are transferring their gold loan from other financers to our account can avail all the benefits that MFL offers.
