Whenever a person has a sudden requirement for cash, a personal loan can be secured with minimal paperwork, processing time, and swift access to the bank account belonging to the customer. It is a good option for anyone looking to meet their immediate cash needs.
When people need to support a long-term goal, personal loans are a practical way to accomplish it. Whenever picking out a personal loan, it is of the utmost importance to evaluate the EMI that the borrower will ultimately be accountable for.
If you’re considering applying for a personal loan from Muthoot Finance, you can make use of their EMI calculator to find out the sum that you’ll be required to pay in EMIs.
| Personal Loan Highlights | |
| Interest Rate | 14% p.a. onwards |
| Loan Amount | Up to Rs 7.5 Lakhs |
| Tenure | Up to 5 years |
| Minimum Monthly Salary | Rs 20,000 |
| Processing Fee | 1% – 3% |
Advantages and Features of Muthoot Finance Personal Loan
- Grab the most adaptable and most competitive interest rates on the entire market.
- The documentation process is straightforward and provides complete transparency.
- A large loan amount of up to Rs. 7.5 lakh is available to suit all of your financing requirements.
- To lessen monthly cash outflow limits, obtain repayment terms ranging from 12 to 60 months.
- There are no hidden fees or charges, and the loan procedure for applying is simplified.
- There are several repayment alternatives to select from.
- No Co-borrower needed to secure the loan amount.
Eligibility Requirements for a Muthoot Finance Personal Loan
For speedy loan approval and disbursement, you must meet the specific Muthoot Finance Personal Loan standards:
- The CIBIL score must be 685 or higher.
- Should be an Indian citizen.
- Should be at least 23 years old and no older than 60 years old at the end of the loan’s term.
- You have to be a salaried employee.
- You should have an absolute minimum income of Rs. 20,000.
- Must work for a private, public, or multinational corporation.
- Minimum Job Experience – 6 months
- Employer Business Vintage – 3 Years
Documents Necessary to apply for a Muthoot Finance Personal Loan
- KYC of Applicant (Adhar Card+Pan Card+Passport Size Photo)
- Last 3 month Salary Slip
- Last 6 month Bank Statement in PDF
- Form 16 of last 2 year
- Rent Agreement if rented or Utility Bill if residence is owned
- Sanction Letter of all current running loan if any
- Office ID Card or Official EMAIL ID if any
Based on the applicant’s particulars, Lender may ask for extra documents. The list given above has been provided for reference.
How Do You Get a Muthoot Personal Loan?
- Muthoot Personal Loans can be applied for at any of their branches or online.
- Browse to Muthoot Finance’s portal and select ‘Personal Loan’ from the ‘Services’ menu.
- On this page, click the ‘Apply Now’ button.
- To begin the application procedure. You must enter your name, email address, phone number, and city as well.
- After you input the aforementioned information, an authorized representative will call you to speak about the loan’s conditions and whether you are eligible.
- You can begin the application processing soon after you are pleased with the conditions.
- To process your application, you must submit the necessary documentation.
- Muthoot offers a ‘Doorstep Service’ to make collecting documents easier.
- The loan application will be verified and approved within 48 hours of receiving all relevant documentation.
- After approval, you will receive the funds in your savings account within hours.
If you are looking for a seamless process where you have not to get confused in how to do or what to do, you simply apply through Refer Loan.
Check below how will you apply through Refer Loan
Once you’ve finished reviewing the details, charges, and necessary documentation for Muthoot Finance personal loans, confirm eligibility.
2) You’ll be taken to the application page. Enter the basic information requested.
3) Select Eligible Offers to see Muthoot offers that are accessible to you based on what you’re eligible for.
4) Select Next.
5) An OTP will be sent to your mobile device. For authentication, input this OTP.
6) Send in your application.
Have fun with life to its maximum without thinking about monetary resources. A Muthoot Finance personal loan might help you support your pursuit of happiness.
Conclusion
A Muthoot Finance Personal Loan is the best option if you are having difficulty raising funds for your various personal demands. Muthoot Finance is an organization that you have confidence in because it ranks as one of the earliest and most reputable financers in India. This well-known NBFC is best known for meeting a variety of demands, including travel, debt consolidation, medical emergencies, and home improvement, by delivering the best personal loan fast. Therefore, without any further delay, simply try to comprehend the offers from Muthoot Finance and take advantage of unsecured personal loans without any cosigner.