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Disclaimer: Muthoot Finance is not a Paisabazaar partner and all content herein is strictly informative in nature. Paisabazaar is not affiliated with, sponsored by or in any way connected to Muthoot Finance for personal loans. No offers/services from Muthoot Finance are being provided by Paisabazaar for personal loans. For further information about Muthoot Finance for personal loans, users are required to reach out directly to Muthoot Finance.
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Muthoot Finance Personal Loan Highlights |
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| Interest Rates | 14% – 22% p.a. |
| Tenure | 1 year to 5 years |
| Loan Amount | For non-metro locations: Rs 50,000 onwards
For metro locations: Rs 1 lakh |
| Processing Fees | 2% to 4% of the loan amount plus taxes |
Note: Rates as of 3 April 2025
Get Personal Loan Online
HDFC Bank
Up to ₹40L
10.9% - 24%
Upto 6 Years
₹6,500
Axis Bank
Up to ₹10L
10.49% - 22%
Upto 6 Years
Upto 2%
Kotak Mahindra Bank
Up to ₹35L
10.99% - 16.9%
Upto 6 Years
Upto 5%
IDFC FIRST Bank
Up to ₹10L
10.7% - 23.99%
Upto 5 Years
Upto 2%
ICICI Bank
Up to ₹50L
10.8% - 16.5%
1-6 Years
Upto 2%
*Applicable for selected customers
Muthoot Finance Personal Loan Interest Rates
The Muthoot Finance Personal Loan interest rates range between 14% and 22% p.a. While the NBFC has not mentioned the interest rate slab based on the repayment history, credit score, monthly income, etc. of its personal loan applicants, most banks/HFCs usually consider these factors while setting the personal loan interest rates of their applicants.
Fees & Charges of Muthoot Finance Personal Loan
| Particulars | Charges |
| Processing fees | 2% to 4% of the loan amount plus taxes |
| Late payment charges | 2% of the outstanding loan amount of the month |
| Cheque bounce charges | Rs 1,000 |
| Cheque swapping charges | Rs 750 |
| Prepayment Charges | Till 9 months – Lock-in period; 10 months to 12 months – 6% of the outstanding loan amount plus taxes; Above 12 months – 5% of the loan outstanding amount plus taxes |
| Re-Schedulement charges | 1% of the outstanding loan amount |
| Loan cancelation charges | Rs 5,000 |
| Stamp duty | As per applicable state laws |
Eligibility Criteria for Availing Personal Loans from Muthoot Finance
The eligibility criteria for availing personal loans from Muthoot Finance are mentioned below:
- Indian residents are eligible for Muthoot Finance personal loans.
- Age criteria: 21 to 67 years of age
- Minimum credit score: 750
Documents Required for Muthoot Finance Personal Loan
The documents required for availing personal loans from Muthoot Finance are as follows:
General Documents
- Identity proof (Aadhaar card, Driving license, Voter ID card)
- Address proof (Passport, Utility bills, Aadhaar card, Voter ID card)
- Bank statement of the last 3 months (Passbook of the previous 6 months)
Documents for Salaried Applicants
- Salary slips for the last 3 months
- Form 16 or Income Tax Return
Documents for Self-Employed Applicants
- Proof of Business Existence
- Proof of Office Address and Ownership
- Income Proof
EMI Calculator
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
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FAQ’s on Muthoot Finance Personal Loan
How to get personal loan from Muthoot Finance?
Ans. Prospective borrowers can make an online application for Muthoot Finance personal loans by visiting the lender’s website, clicking on the Personal Loan option under the services tab, clicking on the ‘Apply now’ tab under the Personal Loan EMI Calculator section and selecting the ‘apply loan online’ option. Individuals can also can also visit any of Muthoot Finance’s branches to make a personal loan application.
How to track Muthoot Finance personal loan?
Ans. You can track the status of your Muthoot Finance Personal Loan application online by visiting the lender’s website, going to Services → Personal Loan, clicking on the Apply now ‘tab’ under the Personal Loan EMI Calculator section, entering your details in the ‘check application status’ and clicking on the ‘verify button. Additionally, they can visit the nearest Muthoot Finance branch or call the toll free numbers to know the status of their Muthoot Finance Personal Loan application.
What is the minimum salary for the Muthoot Finance Personal Loan?
Ans. Muthoot Finance has not disclosed the minimum income requirements for its salaried loan applicants. However, the lender may consider factors like their loan applicants’ net salary, age, total years of service, whether the applicant owns a housing property, etc., depending upon their risk profile while assessing their personal loan eligibility.
Is it easy to get a personal loan from Muthoot Finance?
Ans. The process of getting personal loans from Muthoot Finance is simpler for applicants who fulfil the eligibility criteria set by the lender, based on their credit profile. The lender claims to offer minimal and online documentation, which makes the process less cumbersome.
Does Muthoot Finance provide a personal loan?
Ans. Muthoot Finance offers personal loans to both salaried and self-employed individuals. Borrowers can use the loan proceeds to fulfil their expenses related to travel, home purchase/construction, education, financial/medical exigencies, debt consolidation, etc.