Which Is Better Muthoot Or Manappuram?

Which bank is best for jewel loan?

Bank / NBFCGold Loan Interest RateProcessing FeeKotak Mahindra Bank10.5% to 17%Upto 2%HDFC Bank9.50% to 17.55%1.50% + GSTBandhan Bank10.99% to 18.00%1% + GSTICICI Bank10% to 19.76%1% of loan amount25 more rows•5 days ago.

Does gold loan increase cibil score?

Prompt repayment of any loan can boost your credit score significantly, and Gold Loan is no different. Hence, a Gold Loan taken and repaid early or on time will have a more positive impact on your credit score rather than taking an unsecured personal loan.

What are the 4 types of loans?

There are 4 main types of personal loans available, each of which has their own pros and cons.Unsecured Personal Loans. Unsecured personal loans are offered without any collateral. … Secured Personal Loans. Secured personal loans are backed by collateral. … Fixed-Rate Loans. … Variable-Rate Loans.

How much is gold loan per gram in manappuram?

Manappuram Gold Loan Key FeaturesMaximum Loan AmountUp to Rs. 1.5 CroreManappuram Gold Loan Interest Rate7.00% per annumManappuram Gold Loan Per GramGold Loan Rate Per Gram Today is ₹ 5,121Processing Fee1% of the Principal Loan Amount or Rs. 1000 (Whichever Is Higher)Prepayment ChargesNil2 more rows

Is Muthoot Finance safe?

The Muthoot Finance issue is risky since the company’s financial performance is particularly vulnerable to volatility in interest rates as well as of gold prices. The collateral against which the company offers loans may suffer erosion in value by the time principal amount is recovered.

Is Muthoot Finance under RBI?

KOCHI: Leading gold loan NBFC Muthoot Finance has received the Reserve Bank of India (RBI) sanction to set up a network of ATMs in the country. Muthoot Finance is one of the 10 non-bank players to receive RBI license to create ATM networks.

Can I sell NCD before maturity?

NCDs get listed on stock exchanges where investors can sell it before maturity. Any gain earned through selling in secondary market is termed as capital gains. … However, if there is fall in interest rates after buying NCD then selling on stock market may prove beneficial as the NCD will demand a premium.

Does Muthoot Finance buy gold?

We buy Gold from the customer for market value and promise to provide the right amount for Gold. The process is 100% transparent and efficient. … Advanced XRF machines are used to check values, weight and purity of the Gold. At Muthoot Gold Point, the customers can sell Gold for cash.

Which company is best for gold loan?

List of Top 10 Banks / NBFCs offering Gold Loan in IndiaGold Loan ProvidersInterest RateLoan AmountMuthoot Finance11.9% p.a. onwardsRs 1,500 – No LimitIIFL12% p.a. onwardsRs.3,000 onwardsHDFC Bank9.90% to 17.90% p.a.Rs.25,000 onwards (Rs.10,000 for rural areas)ICICI Bank10% p.a. onwardsRs.10,000 to Rs.1 crore6 more rows•Apr 22, 2020

Which bank gives highest value for gold loan?

Gold Loan Interest Rates ComparisonBankGold Loan Interest RatesMax TenureSBI Gold Loan Rates7.50%36 monthsMuthoot Gold Loan Rates11.99%36 monthsManappuram Gold Loan Rates12.00%12 monthsHDFC Bank Gold Loan Rates9.90%24 months8 more rows

What are the documents required for Muthoot Gold Loan?

Documents Required for Muthoot Gold Loan Identity proof: PAN Card, Driving License, Passport, Voter’s ID Card, Aadhar Card. Address proof: Voter’s ID Card, Aadhar Card, Rent Agreement, Utility Bills, Bank Statement.

What is the rate of gold loan per gram in SBI?

SBI Gold Loan CalculatorEligibility CriteriaSBI Gold LoanGold Loan per gram₹ 2,696 to ₹ 3,295 depending on the purity of goldAge of Borrower21 – 65 yearsMaximum Loan Amount₹ 20 LakhMaximum Loan to Gold Value RatioUp to 75%3 more rows

How much is gold loan per gram in muthoot?

Muthoot Gold Loan Rate Per Gram by Gold PurityGold PurityGold rate per gram- average of past 30 daysMuthoot best Gold Loan per gram22 carat₹ 48,808₹ 3,29520 carat₹ 44,371₹ 3,29518 carat₹ 39,934₹ 2,696Aug 20, 2020

Does Muthoot Gold Loan affect cibil?

Since gold loans are secured against your gold, you should be careful about loan repayment and should take loan amount that you actually need and can repay comfortably. Defaulting on loan can adversely affect your credit score and report including cancellation of any future loan application.

Is cibil score required for gold loan?

Good Credit Scores are not critical for Gold Loans RBI has made it mandatory for banks to do a CIBIL score check before giving out any loans to customers. … Gold Loans, on the other hand, require you to provide a fairly liquid tangible asset, ie, Gold, as collateral.