Muthoot Personal Loan Interest Rate: Rates, Fees & Eligibility Guide

Key Takeaways
 

• Muthoot personal loan interest rates start at 13.5% p.a. and vary based on eligibility.
   
• Monthly EMIs depend on the loan amount, tenure, and applicable interest rate.
   
• Understanding interest rates helps plan repayment and manage finances effectively.
   

Muthoot personal loan interest rates start at just 13.5% p.a. The final rate depends on your credit profile, income, and repayment capacity.

For example, if Priya takes a Muthoot personal loan of ₹1,00,000 for 36 months at 13.5% p.a., she will pay a monthly EMI of around ₹3,903. Over the loan period, she will repay ₹1,40,500, which includes ₹40,500 as interest.

This blog will guide you through all about the Muthoot personal loan.

Muthoot Personal Loan Interest Rates 2025

Muthoot charges interest as a fee for letting you borrow money. The interest is calculated yearly as a fixed percentage of the loan amount. You repay the loan and the interest through equated monthly instalments (EMIs) over a chosen loan tenure. 

Enjoy competitive interest rates starting at just 13.5% p.a. The final rate offered may vary based on your unique creditworthiness and comprehensive verification.

Since Muthoot personal loans are unsecured and do not require collateral, the interest rates are usually higher than secured loans. These loans mostly come with fixed interest rates, so the rate stays the same throughout the repayment period, regardless of market changes.

The actual interest rate depends on Muthoot’s policy and the applicant’s eligibility. Two applicants may get different rates from the same lender based on their credit profiles and repayment capacities.

Types of Muthoot Personal Loan Schemes

Muthoot personal loans are designed to meet different financial needs, offering flexibility and quick access to funds. Depending on your purpose, Muthoot provides several types of personal loan schemes.

• Medical Loan: Quick disbursal with minimal paperwork.
• Debt Consolidation Loan: Lower interest rates and easier repayment.
• Home Renovation Loan: High loan amount with tax benefits.
• Education Loan: Flexible tenure and easy repayment for students or parents.
• Travel Loan: Freedom to use funds for domestic or international trips.
• Wedding Loan: Longer tenure and loan amount based on repayment capacity.
• Pension Loan: Easy process with lower interest rates for pensioners.
• Secured & Unsecured Loans: Choice of collateral-backed or collateral-free options.
• Salary-Based Loan: Quick approval for salaried individuals.
• Self-Employed Loan: Tailored for those with irregular income.
• Balance Transfer Loan: Transfer existing debt at lower interest rates.
• Festival Loan: Covers festive expenses with quick processing.
• Business & Startup Loan: Funds for expansion, operations, or working capital.
• Loans for Senior Citizens: Special terms with flexible repayment.
• Loans for Women: Lower interest rates and longer repayment options.
• Agriculture Loan: Support for farming operations and equipment purchase.
• Loans for NRIs: Quick funds for non-resident Indians with flexible tenures.

Muthoot personal loans make it easier to borrow for every stage of life, whether it’s education, travel, business, or family needs. With multiple schemes, you can choose the one that best fits your financial requirements.

Key Features of Muthoot Personal Loan

Muthoot personal loan helps you manage unexpected or planned expenses with ease. Whether it’s for a medical need, education, travel, or debt repayment, this loan gives you quick financial support without hassle.

• Debt Consolidation: You can combine multiple debts and repay them more easily.
• Flexibility of Use: You can use the loan amount for any personal purpose.
• Quick Approval: Minimal documentation ensures faster loan processing.
• Reasonable Interest Rates: Muthoot personal loans are available at competitive rates.

Muthoot personal loan makes borrowing simple and convenient, ensuring you get timely funds for all your important financial needs.

Factors Affecting Muthoot Personal Loan Interest Rate

Before applying, it is important to know what influences the interest rate on a Muthoot personal loan. Lenders consider several factors while fixing the rate for each applicant.

• Income: Applicants with higher incomes usually get lower interest rates, while those with lower incomes may have to pay more.
• Nature of Employment: Salaried individuals with stable jobs are often offered better rates.
• Employer Details: Working in a reputed organisation increases the chance of securing a lower rate of interest.

By keeping these factors in mind, you can improve your chances of getting a Muthoot personal loan at a competitive interest rate.

Muthoot Personal Loan Interest Rate Calculation

Before applying, it is helpful to know how the EMI on a Muthoot personal loan is calculated. This allows you to plan your repayment comfortably and avoid any surprises later.

For example, if you take a Muthoot personal loan of ₹1,00,000 for a tenure of 36 months at an interest rate starting from 13.5% p.a., your monthly EMI will be around ₹3,902.78. Over the loan period, you will repay ₹1,40,500 in total, which includes ₹1,00,000 as the principal and ₹40,500 as the interest.

You can use the Muthoot personal loan EMI calculator online to check the EMI instantly by entering the loan amount and tenure.

Muthoot personal loan makes repayment simple with transparent EMI calculations, helping you choose a loan amount that best suits your financial plans.

Tips to Get Lower Interest Rates from Muthoot Bank

When you want a Muthoot personal loan, you can do a few things to get a lower interest rate and pay less money.

• Keep a Good Credit Score: If you have a good credit score, Muthoot will give you a lower rate.
• Pay On Time: Always pay your EMIs and credit card bills on time. This helps you get a better rate.
• Check for Offers: Muthoot sometimes has special offers with lower rates. Apply during these times to save money.

Doing these things can help you get a cheaper Muthoot personal loan and pay more easily.

Bonus Tip: Apply for a Muthoot personal loan during festive or promotional offers. You can get special interest rates and save on your repayments.

Conclusion

Muthoot personal loan interest rates are fair and fit different needs. The rate you get depends on your income, credit score, job, and past repayments. 

A Muthoot personal loan has clear rules and easy repayment options. It makes borrowing quick and simple for everyone.

FAQ's

1. Who can apply for a Muthoot personal loan?

Any eligible individual with a steady income and the required documents can apply.

2. What documents are needed?

You need ID proof, address proof, bank statements, and income proof, such as salary slips or tax returns.

3. How can I check my loan application status?

You can track it online through the Muthoot website or app, or by contacting customer support.

4. What is the interest rate on Muthoot personal loans?

The interest rate starts from 13.5% p.a. and varies based on your credit profile and repayment capacity.

5. When can I apply for a Muthoot personal loan?

You can apply at any time, as there is no fixed period for applications.
 

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About the Author

LoansJagat Team

‘Simplify Finance for Everyone.’ This is the common goal of our team, as we try to explain any topic with relatable examples. From personal to business finance, managing EMIs to becoming debt-free, we do extensive research on each and every parameter, so you don’t have to. Scroll up and have a look at what 15+ years of experience in the BFSI sector looks like.