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ARE MUTHOOT FINANCE LOANS ATTRACTIVE ENOUGH TO APPLY FOR?

Muthoot Finance is one of the popular non-banking finance companies (NBFCs) offering a slew of lending products such as personal loans, home loans, vehicle loans and much more. These products are customized to address unique customer requirements. With loans come the discussion on the interest rate, eligibility, documents and several other critical aspects. And so, you need to stay updated of Muthoot Finance Loans in every aspect to march along smoothly while repaying the debts. Letu2019s discuss each of the loans separately.

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ARE MUTHOOT FINANCE LOANS ATTRACTIVE ENOUGH TO APPLY FOR?

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  1. ARE MUTHOOT FINANCE LOANS ATTRACTIVE ENOUGH TO APPLY FOR?

  2. Muthoot Finance is one of the popular non-banking finance companies (NBFCs) offering a slew of lending products such as personal loans, home loans, vehicle loans and much more. These products are customized to address unique customer requirements. With loans come the discussion on the interest rate, eligibility, documents and several other critical aspects. And so, you need to stay updated of Muthoot Finance Loans in every aspect to march along smoothly while repaying the debts. Let’s discuss each of the loans separately.

  3. Muthoot Finance Personal Loan Details It’s a loan that can be availed to meet all your personal needs such as marriage, education, travel, medical emergency, etc. You can get a loan starting from ₹50,000. The loan eligibility is greatly determined on the basis of income, repayment potential, credit score, etc. As far as the interest rate and processing fee are concerned, the noted NBFC offers the same on a customized basis. Normally, the rate of interest on a personal loan ranges from 12%-20% per annum. So, how closer the rate is to the lowest and highest limit? If it’s closer to the lowest limit, you stand a great chance to grab a good personal loan deal at lower rates. This will further lead to a reduction in the interest outgo over the loan course.

  4. How Attractive Muthoot Finance Home Loan Deal Can be? Muthoot Finance offers home loan based on property value. Loans up to ₹30 lakh and above ₹30 lakh-50 lakh can be granted at 90% and 80% of the property value, respectively. It can be granted at an interest rate starting from 12.50% per annum onward. Salaried, self-employed professionals and non-professionals are eligible to apply for a loan. The loan is repayable over a maximum of 30 years.

  5. Have Gold? You Can Monetize It to Secure a Loan from Muthoot Finance You can monetize gold ornaments to procure a loan from Muthoot Finance. The loan comes at interest rates ranging up to 24% per annum. You can get a loan starting from ₹1,500. The processing fee is levied at 1% of the loan amount plus applicable Goods and Services Tax (GST). You need to repay the loan in a maximum of 1 year.

  6. How to Assess Whether the Loan Offer is Attractive or Not? For that, you must get an idea of the EMI and interest outgo in advance. The question now is how can you calculate those? Well, it’s the EMI calculator that you must use and compute the repayment estimates. The calculator helps to compute the EMI and interest outgo using the loan amount, tenure and interest rate. So, check whether the EMI comes to your budget or not. If so, see whether you would pay more interest even though the EMI is affordable. It is important to contain the EMI as well as interest outgo for a smooth repayment experience.

  7. How to Apply for Muthoot Finance Loans? You can apply for Muthoot Finance loans on the official website of the lender or at its branch. The application must be supported by submitting the requisite documents authenticating your identity, address and income. Subsequent to receiving the application, Muthoot Finance will undergo a verification process and approve the loan only when the details are found to be genuine.

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