Applying for a gold loan is very easy these days. The product is quite new but it has already gathered tens of thousands of happy clients in Australia and worldwide. But let’s start from the beginning.

For years, people are trying to solve their financial problems by borrowing money. Today, this practice still exists and enjoys great support among a lot of people. However, it’s not very hard to understand why these people turn to loans in order to solve their problems: the interest rate on loans is much lower than on the usual bank products, such as savings accounts, personal credit lines and so on.

Muthoot Fincorp Gold Loan:

As the name suggests, Muthoot FinCorp Gold Loan would ensure that you get rid of all your gold ornaments and you can do so without losing a double of money. All you need to do is to choose one of our multiple loan schemes. All the terms and conditions regarding gold loan eligibility are made available once you click on Apply Now button. Muthoot FinCorp offers gold loans in Chennai to meet your financial needs and help you secure your loved ones. We understand your need for a faster loan disbursal coupled with competitive interest rates, and our gold loans in Chennai cater to these needs. Our fast loans for gold are provided by our expert team of advisors right from the time you apply till we disburse the loan amount. For every loan amount you apply for, you also get a loan processing fee waiver which is applicable on a per loan basis.


Gold Loan Eligibility Criteria: 

  • Age:

If you want to apply for a gold loan, you must know that Minimum to maximum age to apply for Gold Loan eligibility criteria is 21 to 65 years. You must also have a regular job and a bank account. If you do not have a bank account or are unemployed, there are few options available for you.

Also Read: How Gold Ornaments Can Help You Get Access To Credit?

  • Loan Amount: 

The maximum amount one can avail from a gold loan is 50 Lakh. The interest rate on the gold loan is 1% per month. The EMI is payable at monthly intervals without any grace period. The principal and interest is payable in lump sum after 36 months of disbursal of loan as per the scheme guideline.

  • Purity of gold:

To avail the loan on gold, the gold should be between 18-24 karat in quality. The weight of gold is calculated as per the government norms and the same is converted into Indian rupees and deposited in a bank account. 

  • LTV Ratio:

The loan-to-value (LTV) ratio is an assessment of lending risk that financial institutions and other lenders examine before approving a mortgage. The LTV ratio is the percentage of the home’s value that is represented by the mortgage against the property. It is calculated by dividing the loan amount by the market value of the collateral.   LTV Ratio of gold loan is Up to 75% of the value of the gold In a historic move, the Reserve Bank of India has increased the upper limit for loan against collateral in gold to 75% from 50%. 



Muthoot FinCorp is a trusted name in the financial market of India. With 132 years of experience, Muthoot FinCorp offers some of the best Gold Loan Schemes with simplified muthoot gold loan eligibility, drafted as per customers’ requirements. We aim at not only offering you funds when required, but also at keeping your gold safe until it is time for you to take it home. Avail some of the lowest gold loan interest rates, eligibility and Loan schemes in India, at Muthoot FinCorp.


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