Muthoot Smart Plus Gold Loan

Muthoot Smart Plus Gold Loan: Muthoot offers Gold loan with low EMI, Less Documents and Low Interest
Rates for Smart plus Gold Loan.

Muthoot Smart Plus Gold Loan Benefits

• The benefit of paying back in Equated Monthly Instalments

• The EMI is apportioned such that the larger amount goes toward repaying the principal
• No foreclosure charges
• Part release and repledge is allowed
• Rebates on prompt payment

Muthoot Smart Plus Gold Loan Documents

Original proof of identification. Any of the following are acceptable:

• Passport
• Govt of India election ID card with address proof
• PAN card with address proof
• Driver’s licence
• Any departmental ID card

SMART + GOLD LOAN

• “SMART” 3 MINUTE GOLD LOAN Scheme is an innovative 3 Minute Gold Loan Scheme with the
added benefit of repaying the loan in Equated Monthly Instalments.
• Customers can choose any tenure of 6,12,24 and 36 months
• Can be offered to all customers but will be most beneficial to the salaried class.
• The interest rate effectively works out to 13.47% only for a 12 months Scheme.
• Loan up to 90% of the total value of gold is granted.
• No additional documentation or charges are taken for availing loan.
• Unlike banks, there are no security cheques to be given and no advance EMI collected.
• Repayment of instalments can be done from any branch

Table of repayment of Loan

Amount 6 Month 12 Month 18 Month 24 Month 30 Month 36 Month

10000 1786 946 668 529 447 393
25000 4464 2364 1668 1322 1117 981
50000 8927 4728 3336 2644 2233 1962
100000 17853 9456 6671 5288 4465 3924
200000 35706 18912 13341 10575 8930 7847
500000 89263 47280 33352 26436 22325 19617
1000000 178526 94560 66703 52872 44650 39233
Key features and Benefits of Smart Plus Gold Loan
• Loan can be pre-closed any time without any pre-closure charges and calculation of interest will be
similar to normal Gold Loan Scheme.
• Grace period of 3 days is allowed for EMI remittance.
• For default in repayment, penal charges at the rate of 2% for the first month and 3% for the next 5
months are applicable.
• A continuous 6 months default in repayment will result in auction of pledged ornaments.
• The EMI amount received is apportioned in such a manner that the larger amount goes into
repayment of the principal every month
• Principal amount is also getting repaid while servicing the interest, thereby reducing the balance
outstanding.
• Part Release is allowed by doing Re-Pledge with new EMI Schedule.
• A rebate of 2% is given for prompt repayment, payable at the end of the tenure of the loan.
Click to Know about Muthoot Gold Loan.