- What happens if gold loan is not paid?
- Can we sell NCD before maturity?
- What is the interest rate for gold loan in Muthoot Finance?
- Is Muthoot finance a NBFC?
- Who is the founder of Muthoot Finance?
- Can NBFC give gold loan?
- What is a gold loan?
- How is gold loan calculated?
- How can I pay my Muthoot loan?
- How many branches does Muthoot Fincorp have?
- What is the interest rate in Muthoot Finance?
- Is Muthoot Finance safe?
- Can NBFC borrow money?
- What is difference between Muthoot Finance and fincorp?
- Does muthoot accept credit cards?
What happens if gold loan is not paid?
Auction: If full repayment of the loan is not made within the period of the loan, the company has the right to sell or otherwise dispose of the gold through public auction at the risk and cost of the borrower..
Can we sell NCD before maturity?
The return on your NCD is fixed if held until Maturity, so if interest rates increase during the term you will not obtain any benefit from that increase. … If you sell an NCD before Maturity, the effective rate of return could be less than the rate at which the purchase price was calculated (based on the face value).
What is the interest rate for gold loan in Muthoot Finance?
For a 36 months gold loan from Muthoot at interest rate of 11.99% per annum, EMI will be ₹ 3,321 per ₹ 1 Lakh loan amount. At interest rate of 11.99% for the same loan, the EMI will be ₹ 3,321. Loan tenure: Longer the loan tenure, lesser your monthly EMI.
Is Muthoot finance a NBFC?
Muthoot Finance Limited is a gold financing company. The company is a non-banking financial company (NBFC) which is engaged in providing loan (financing) against collateral of gold jewellery. … The company has a network of more than 5,190 branches all over India.
Who is the founder of Muthoot Finance?
M George MuthootMuthoot Finance/FoundersMuthoot Finance Ltd was incorporated on March 14 1997 as a private company with the name The Muthoot Finance Pvt Ltd. The company is promoted by M G George Muthoot George Thomas Muthoot George Jacob Muthoot and George Alexander Muthoot.
Can NBFC give gold loan?
NBFCs can offer loans only against gold jewellery. The purity of gold should be 18-24 carat. The lenders-banks and NBFCs-determine the value and give a part of that as loan. Since valuation is done by the lender, you can either accept its figure or walk out.
What is a gold loan?
Gold loan (also called loan against gold) is a secured loan taken by the borrower from a lender by pledging their gold articles (within a range of 18-24 carats) as collateral. The loan amount provided is a certain percentage of the gold, typically upto 80%, based on the current market value and quality of gold.
How is gold loan calculated?
You can calculate the gold loan interest by subtracting the principal amount from the total amount to be paid. The total amount you would pay by the end of tenure can be calculated with the help of an EMI calculator.
How can I pay my Muthoot loan?
How to Make Muthoot Finance Online EMI Payment?Go to Muthoot Finance loan payment page on Paytm.Enter your Loan Account Number.Click on ‘Get Payable Amount’Check your payable amount and proceed with the payment with the mode of your preference.You are done with it.
How many branches does Muthoot Fincorp have?
3600 branchesWith over 3600 branches across India, we endeavour to serve over 100,000 customers a day.
What is the interest rate in Muthoot Finance?
11.99%Muthoot Gold Loan Interest Rate Calculator Lowest Gold Loan Interest Rate in Muthoot is 11.99%. The factors that are used by Muthoot to calculate interest on gold loan are loan amount, loan tenure and loan required as a percent of value of gold jewelry.
Is Muthoot Finance safe?
The NCDs issued by Muthoot Finance are secure in nature, which means that in the event of liquidation, secured investors will get the first preference. However, investors should be cautious of liquidity risks when investing in NCDs.
Can NBFC borrow money?
Like banks, NBFCs give out loans. … In order to give out loans, most NBFCs borrow from banks and sell commercial paper. The commercial paper they sell are basically short-term financial securities, which debt mutual funds buy.
What is difference between Muthoot Finance and fincorp?
Just to be clear, Muthoot Fincorp and Muthoot Finance are two separate companies without any common promoters. Muthoot Fincorp is headed by Thomas John Muthoot, while Muthoot Finance is headed by M G George Muthoot. While the two promoters are family cousins, they have no mutual business relations.
Does muthoot accept credit cards?
Can we use a credit card to pay Muthoot Fincorp loan EMI? Yes, you can use a credit card to pay Muthoot Fincorp loan EMI on Paytm. Just select ‘Credit Card’ as the mode of payment and proceed with it.