A Perfect Lender To Get Quick Cash- Muthoot Finance Personal Loan

The ways of getting a personal loan are many, but the essential question is which lender you should go with. Because there are many lenders in the market appearing to offer the best deal, but in-depth, it is not the case. Muthoot Finance personal loan is a reliable lender to get a quick cash loan.

In this short post, we shall explore its details. What loan amount they offer, the interest rate and other things. Once you have a go-through, you can make a decision.

Muthoot Finance personal loan

Muthoot Finance personal loan is an unsecured loan. It means you do not have to offer any collateral while availing of the loan.

• Muthoot offers a loan amount minimum of Rs 50,000. The maximum depends upon your eligibility.

• The personal loan interest rate starts at 14.50% per annum.

• The loan tenure is up to 5 years.

• The processing fee is up to 3.5% of the loan amount.

• The pre-payment charge is up to 6% of the outstanding loan amount.

• The loan cancellation charge is Rs 5000.

• The internal foreclosure charge is 2.5% of the outstanding loan amount.

• The re-scheduling charge is 1% of the outstanding amount.

• The late payment charge is 2% of the loan amount.

• The cheque bounce charge is Rs 1,000 without taxes.

• The cheque swapping charge is Rs 750.

Types of Muthoot Finance personal loan Currently, Muthoot Finance offers three types of personal loan.

• Personal loan for salaried and self-employed professionals.

• Personal loan for landlords

• Personal loan for Muthoot Employees

Prominent features of Muthoot Finance personal loan

• It offers a low rate on its personal loan.

• The loan is quickly disbursed after the verification process is completed.

• It requires minimal documents from a borrower.

• The loan repayment tenure is flexible and long.

The eligibility criteria for Muthoot Finance personal loan

• A borrower should be a salaried individual or self-employed professional.

• The age criteria are between 23 and 60 years to be eligible for this personal loan.

• The monthly income should be at least Rs 20,000.

• Muthoot Finance will consider other factors such as your CIBIL score, employment length, etc.

The personal loan EMI calculator The personal loan EMI calculator tells you what is going to be the monthly EMI and the total amount you will have to with interest. The Muthoot Finance has one. You can use it to determine how much loan you can afford. Comparing Muthoot Finance personal loan with other lenders

Required documents for Muthoot Finance personal loan

• Identity proof – Aadhar card, PAN card, Driving license, Voter ID card

• Address proof – Registered rent agreement, utility bill, Passport

• Income proof – Salary slips, Bank account statements

How to apply?

To apply for Muthoot Finance personal loan, head to Afinoz.com. Here sign up, submit the loan application and documents. The platform will take care of the entire process.

Conclusion

Muthoot Finance personal loan is a great deal in itself considering It has a competitive interest rate and easy eligibility criteria.