Understanding the Benefits of Muthoot Finance Gold Loans

By Lilyanne Rice  - On

Manappuram Finance Limited stands out as one of the most reliable gold loan lenders, offering a unique blend of minimal documentation and quick disbursal. The loan amount, once decided, should be paid on time in order to avoid penalties. Conveniently, payments can be made online or offline, using various methods such as Internet Banking, UPI, Debit Card, Google Pay, and Wallets. The Manappuram Gold Loan app is a versatile tool that not only facilitates payments but also provides insights into the loan account and allows for the re-pledging of gold ornaments for the loan.

OGL, i.e. Online Gold Loan, is a new range of products launched by Manappuram Finance Limited. With Online Gold Loans, one can obtain a gold loan anytime, from anywhere. The loan amount instantly gets credited to the savings bank account. The loan gets disbursed at a time with OGL. However, the customer can take a new loan at any point in time once the old loan account is closed. There are no restrictions on applying for a new loan after closing the old loan.

Manappuram Gold Loan – A Snapshot
Interest Rate 12% p.a. onwards
Repayment Tenure Up to 1 year
Loan Amount INR 1,000 to INR 1.5 crore
LTV Ratio Up to 75% of the value of gold pledged as collateral
Processing Fees
  • At the time of loan settlement: INR 10
  • Additional processing fees on re-pledge: 0.007% of net pledge value

How to Make Mannapuram Gold Loan Payment

  1. Online Method

Step 1: The web portal of Mannapuram Gold Loan should be logged in.

   Step 2: To log in, provide your registered email ID or registered mobile number along with the password.

   Step 3: All the details of the loan account can now be seen.

Step 4: Choose the appropriate gold loan account.

   Step 5: Choose the type of payment to be made, i.e., interest payment, full payment, or part payment.

   Step 6: Choose the mode of payment.

   Step 7: Complete your transaction.

Also, one can make loan repayments through Paytm; mentioned are the steps for the same

  1. Using Paytm as a Method of Payment on the Manappuram site
  • Go to the login page of Manappuram Gold Loan.
  • Under Quick Pay, enter your Pledge Number and click on Quick Pay.
  • Follow the instructions as they appear on-screen to complete the transaction further.
  1. Using the Paytm Website to make payment
  • You may also visit the Paytm Page for the Manappuram gold loan payment.
  • Choose a Loan Payment Mode
  • Enter the Pledge Number and Pledge Value
  • Click on Get Payable Amount
  1. B) Offline Method

Mentioned are the steps to make loan repayment via offline method:

Step 1: Visit the nearest Mannapuram branch.

   Step 2: Visit the bank only during working hours.

   Step 3: Don’t forget to carry the loan details along with you, as the bank representative will ask you to provide them.

Step 4: Make payment of the EMI of your loan.

Mannapuram Gold Loan Online Payment Charges

Method Transaction Type Slab HDFC Bank Payment Gateway PayU BillDesk
Net Banking Interest payment Over INR100 Nil Nil Nil
Below INR 100 INR 9 + GST INR 10.5 + GST INR 11 + GST
Part Payment Over INR 1,000 Nil Nil Nil
Below INR 1,000 INR 9 + GST INR 10.5 + GST INR 11 + GST
Full Payment Over INR1,000 Nil Nil Nil
Below INR1,000 INR 9 + GST INR 10.5 + GST INR 11 + GST
Debit Card Over INR 2,000 INR24 + GST 27 + GST 0.85% + GST
Below INR 2,000 Nil Nil Nil
UPI/TEZ Over INR 2,000 INR 5 + GST
Below INR 2,000 Nil

Documentation Required

Mentioned below is the list of documents required to be uploaded while applying for the Mannapuram Gold Loan:

  • Two Recent passport-sized Photographs
  • Proof of Identity – i) Copy of Passport
    1. Driving Licence
  • Aadhar Card
  1. Voter ID Card
  2. Job Card issued by NREGA signed by the Officer of the State Government
  • Permanent Account Number or Form No. 60 as per the IT Act, 1962

Processing Fees and Charges

Mentioned below are the processing fees and charges to be applied when a Manappuram Gold Loan is applied for:

Processing Fee

Particulars Charges
Processing Fees
  • At the time of loan settlement: INR 10
  • Additional processing fees on re-pledge: 0.007% of net pledge value

Other Charges

Particulars Charges
Prepayment charges Nil
Penal Interest 3% p.a.
Security Charges
  • Up to INR 10,000: No Charges
  • INR 10,000 to INR 50,000: INR 15
  • INR 50000 to INR 1 Lakh: INR 30
  • INR 1 Lakh to INR 1.5 Lakh: INR 45
  • INR 1.5 Lakh to INR 2 Lakh: INR 60
  • INR 2 Lakh to INR 5 Lakh: INR 75
  • Above INR 5 Lakh: INR 95
Auction charges
  • Up to INR 1 Lakh: INR 500
  • INR 1 Lakh to INR 2 Lakh: INR 750
  • INR 2 Lakh and above INR 1,000

How to Apply for Mannapuram Gold Online?

The borrowers can raise loans of amounts up to INR 1.5 crores with interest payable on the loan amount for the number of days the loan has been used. Mentioned below are the steps to apply for the Mannapuram Gold Loan Online:

Step 1: Approach a lender at first.

Step 2: The lender will then value your gold to calculate the maximum amount that can be borrowed.

Step 3: Fill out the Mannapuram Gold Loan application form.

Step 4: Then upload the required documents, such as ID proofs, along with the address proof.

Step 5: After the valuation of gold, the amount is instantly disbursed and can be used for the intended purpose.

Manappuram Gold Loan Interest Rates

Mentioned are the Manappuram Gold Loan Interest Rate offered by Muthoot Finance:

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