Are you applying for a Muthoot finance personal loan?

If you are finding any difficulty to raise funds for your personal needs, then Muthoot Finance personal loan is the right choice to fulfill that needs. Being one of the oldest and reputed financers in India. This is one of the renowned NBFC and is best known for using on multiple needs such as debt consolidation, medical emergency, travel, and home renovation by providing the best personal loan from anywhere and anytime. 

Features of Muthoot Finance personal loan 

• Loan amount: Muthoot's loan starts from an amount of Rs. 50,000 and can go up to Rs. 10 lakh based on the borrower’s profile. 

• Loan disbursal: The Muthoot Finance personal loans are known for their quick processing times and funds disbursal. 

• Minimal Documentation: The user needs to submit minimal documentation and then, it is required to apply for the personal loan. 

• Door-to-door service: Bank’s representative will visit your place of residence to get the loan application process completed, including the document collection. 

• Affordable rates: Muthoot Finance personal loan comes with competitive interest rates and charges. The interest rate of the loan is starting from 14.5% per annum. 

• Repayment flexibility: Muthoot Finance offers a flexible repayment option on the loan amount. It allows the user for a suitable combination of EMI loan amount and tenure of the personal loan required. 

Types of Muthoot Finance personal loan products

Muthoot Finance provides various types of personal loans to the users which are categorized on the type of applicant. The key features for the loan are: 

• Personal loan for salaried and self-employed individuals: 

These unsecured loans can be availed by both the salaried and the self-employed individuals at a competitive interest rate which is starting from 14.5% per annum. This option is available to both the new and existing applicants who have a relationship with the company. 

• Personal loan to landlords: 

Owners of buildings who have been occupied by using Muthoot can get an unsecured personal loan. The amount of the loan is starting from Rs. 1 lakh up to Rs. 10 lakh with the repayment tenure of up to Rs. 60 months. 

• Personal loan for Muthoot Finance: 

The staff of the Muthoot Finance group has at least 5 years of service and can avail of Muthoot Finance personal loan at a 14.50% interest rate for a maximum period of 24 months. Supervisory staff can avail of loan up to Rs. 1 lakh however, the non-supervisory employees are Rs. 50,000. 

Muthoot finance personal loan eligibility 

When you are applying for Muthoot finance personal loan, it comes to the fact that you should know about the personal loan eligibility. But, there is a better understanding, we have mentioned below the general eligibility criteria which is applicable for both salaried and self-employed individuals. 

Eligibility for salaried individuals: 

• The age limit for the loan is a minimum of 26 years and a maximum of 58 years. 

• The minimum work experience should be 2 years for a salaried individual. 

• The borrower’s net monthly income should be Rs. 15,000. 

Eligibility for self-employed individuals: 

• The self-employed individuals should have a minimum age limit of 24 years and the maximum age limit should be 65 years. 

• The applicant should have minimum work experience o 3 years. 

• You should have a minimum net annual income is Rs. 1 lakh. 

Muthoot Finance personal loan EMI calculator 

If you are not able to check the exact amount of your monthly installments. There is a simple tool for checking the personal loan through its EMI calculator. You can check your loan updated status online with the exact calculations of your EMI’s interest in the short time frame. The moment you add three points:

• Loan amount 

• Tenure 

• Interest rate 

On the other hand, the Muthoot Finance personal loan EMI calculation has shown in the table with various amounts, interest rates, and tenure. 

Documents required for Muthoot Finance personal loan  

Once you are applying for a personal loan for Muthoot Finance, then you have to surely submit the necessary documents which are mentioned below: 

• A loan application form must be submitted. 

• You should submit passport size photographs

• Identity proof such as PAN card/voter ID, Aadhaar card, driving license. 

• Address proof is essential to submit. 

• Submit employment proof 

• Submit signature proof in the document. 

• Income proof must be submitted for the last 3 or 6 months bank statements, audited financials for the last 2 years. 

Conclusion: 

According to the mentioned description, you can easily choose and select the Muthoot Finance personal loan for your financial needs. The eligibility criteria for different applicants, personal loan EMI calculator, and some other information related to the loan amount you applied for.

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Digital12345 Joined: January 19th, 2020