A personal loan can be needed by any individual for a wide array of needs. These needs can be buying the latest smartphone in the market or funding your child’s marriage or even to fund the trip to abroad. What most people don’t keep in mind while taking a loan is the rate of interest which can cost you in the long run as a higher rate of interest can have an impact on your monthly installments. Talking about interest rates, Muthoot Finance Personal loan interest rate is one of the affordable rates in the market.
Muthoot Finance is one of the most trusted Non-Banking Finance Companies in the market which provides a number of banking products to its customers. It has been functioning in the personal loan segment since 2018, and they are offering this facility in 50 locations across India. So if you are searching for funds to satiate your personal needs, then a Muthoot Finance personal loan will be perfect for you. Features like affordable rate of interest, flexible repayment methods, longer tenure, etc make this one of the most preferable in the market. In this article, you’ll be getting substantial information about the Muthoot Finance personal loan interest rate and other important things about it. So keep reading!
What are the highlights of Muthoot Finance Personal Loan that makes it better than others?
- Muthoot Finance Ltd. provides the loan amount starting from as minimum as ₹50,000. The maximum amount depends on various factors such as the candidate’s repayment capability, nature of employment.
- Before opting for the loan facility, you must remember that there are several variables on which Muthoot Finance personal loan interest rate depends. These are your age, employment type, gross monthly income, employment type, and most importantly your CIBIL score. Any bank of NBFC assesses all these factors before allowing a loan amount.
- Muthoot Finance has such smooth and fast processing of loans that after all the documents approval process, the loan amount hardly takes any time in reaching to your account.
- While applying for this facility, you don’t need to carry a huge box of documents to submit because Muthoot Finance has a very minimal documentation process where you have to submit the least number of documents.
- Having flexible repayment options at your disposal, you can effortlessly repay the loan amount in easy monthly installments.
- You can take the loan amount for a period of 12 to 60 months according to your repayment capability.
- Muthoot Finance Ltd also gives the amazing facility of doorstep service.
How can you apply for the Muthoot Finance Personal Loan?
In order to apply for the Muthoot Finance personal loan, you can have a look at the following steps that you have to do.
Step 1: Go to the official website of Muthoot Finance and then, to the personal loan section.
Step 2: In this step, you will have to fill the required loan amount and tenure by which you will also get an estimate about the EMI amount.
Step 3: After the previous step, you’ll have the option to check the eligibility by filling out a few details like residing city, name, email id, PAN number, type of employment, etc.
Step 4: After checking the eligibility, you can submit your loan application to the bank.