If you are finding difficult to raise funds for your varied personal needs, Muthoot Finance Personal Loan is the right choice. Being one of the oldest and reputed financers in India, it would not be wrong to say that Muthoot Finance is a name you can trust. This renowned NBFC is best known for catering the multiple needs such as travel, debt consolidation, medical emergency and home renovation by providing the best of personal loan instantly. So, without wasting any time further, let’s just try to understand more about the same in the page below.
Personal Loan
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To,TransUnion CIBIL Limited[Formerly known as Credit Information Bureau (India) Limited]One Indiabulls building ,Unit No 1901 – 1905,19th Floor, Tower 2A-2B, Jupiter Mill compound,Senapati Bapat Marg, Lower Parel, Mumbai 400 013
Sub: Grant of Consent
Dear Sirs,
In connection with submission of the application for my credit information offered by CIBIL (“Consumer Credit Information”) through Wishfin and delivery of the Consumer Credit Information to the Company, I hereby acknowledge and agree to the following:
- The Company is my lawfully appointed agent and he / it has agreed to be my agent for the purposes, including, without limitation, to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, and the Company has granted its consent for being appointed for the aforesaid purpose.
- I grant my unconditional consent to the Company to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the consistent with the Agreement entered into between the Company and TUCL, as the case may be, and the Company has granted its consent for being appointed for the aforesaid purpose. I hereby represent and acknowledge that: (a) I have carefully read the terms and conditions of the Agreement entered into between the Company and TUCL understood the same; or (b) the Terms of Understanding in relation to the use of the Consumer Credit Information has been agreed between me and the Company.
- I hereby expressly grant unconditional consent to, and direct, TUCL to deliver and / or transfer my Consumer Credit Information to the Company on my behalf.
- I shall not hold TUCL responsible or liable for any loss, claim, liability, or damage of any kind resulting from, arising out of, or in any way related to: (a) delivery of my Consumer Credit Information to the Company ; (b) any use, modification or disclosure by the Company of the contents, in whole or in part, of my Consumer Credit Information , whether authorized or not; (c) any breach of confidentiality or privacy in relation to delivery of my Consumer Credit Information to the Company ; (d) for any use made by the Company which is contrary to the Agreement entered into between the Company and TUCL.
- I acknowledge and accept that: (a) TUCL has not made any promises or representations to me in order to induce me to provide my Consumer Credit Information or seek any consent or authorization in this regard; and (b) the implementation of the Agreement between TUCL and the Company is solely the responsibility of the Company
- I agree that I may be required to record my consent / provide instructions electronically and in all such cases I understand that by clicking on the "I Accept" button below, I am providing "written instructions" to Wishfin authorizing Wishfin to obtain my Consumer Credit Information from my personal credit profile from TransUnion CIBIL LIMITED, [formerly known as Credit Information Bureau (India) Limited]]. I further authorize Wishfin to obtain such information solely to confirm my identity and display my Consumer Credit Information to me. Further in all such cases “By checking this box and clicking on the ‘Authorize button, I agree to the terms and conditions, acknowledge receipt of TUCL privacy policy and agree to its terms, and confirm my authorization for Wishfin to obtain my Consumer Credit Information .
- I understand that in order to deliver the product to me, I hereby authorize Wishfin, to obtain my Consumer Credit Information from TUCL.
- By submitting this registration form, I understand that I am providing express written instructions for Wishfin to request and receive information about me from third parties, including but not limited to a copy of my consumer credit report and score from consumer reporting agencies, at any time for so long as I have an active Wishfin account. I further authorize Wishfin to retain a copy of my information for use in accordance with [Wishfin’s] Terms of Use and Privacy Policy.
- I UNDERSTAND THAT THE PRODUCT IS PROVIDED ON AN “AS-IS”, “AS AVAILABLE” BASIS AND TUCL EXPRESSLY DISCLAIMS ALL WARRANTIES, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.
- I shall not sue or otherwise make or present any demand or claim, and I irrevocably, unconditionally and entirely release, waive and forever discharge TUCL , its officers, directors, employees, agents, licensees, affiliates, successors and assigns, jointly and individually (hereinafter “Releasee”), from any and all manner of liabilities, claims, demands, losses, claims, suits, costs and expenses (including court costs and reasonable attorney fees) (“Losses”), whatsoever, in law or equity, whether known or unknown, which I ever had, now have, or in the future may have against the Releasee with respect to the submission of my Consumer Credit Information and / or my decision to provide TUCL L with the authority to deliver my Consumer Credit Information to the Wishfin . I agree to defend, indemnify, and hold harmless the Releasee from and against any and all Losses resulting from claims made against TUCL L by third parties arising from and in connection with this letter.
- I agree that the terms of this confirmation letter shall be governed by the laws of India and shall be subject to the exclusive jurisdiction of the courts located in Mumbai in regard to any dispute arising hereof. TUCL is entitled to assign its rights hereunder to any third person without taking my prior written consent.
Yours faithfully,
Name :____________________________Address : ____________________________Date : ____________________________
Muthoot Finance Personal Loan Interest Rates
Muthoot Finance Personal Loan Eligibility
When it comes to the personal loan eligibility, there is no denying the fact that different lenders have different norms. But for your better understanding, we have mentioned below the general criteria for both salaried and self-employed individuals.
Eligibility for Salaried Individual
- Minimum age of the applicant: 26 years
- Maximum age of the applicant: 58 years
- Minimum work experience: 2 Years
- Minimum Net Monthly Income: ₹ 15,000
Eligibility for Self Employed Individual
- Minimum age of the applicant: 24 Years
- Maximum age of the applicant: 65 Years
- Minimum work experience: 3 Years
- Minimum Net Annual Income: ₹ 1 lakh
Muthoot Finance Personal Loan EMI Calculator
If you are getting confused as what’s gonna be the exact amount of your monthly installment. Nothing to worry because a personal loan EMI Calculator is here to help. This smart and magical online tool allows you to know the exact calculations of your EMIs and Interest Outgo in the least time frame. The moment you feed:
- Loan Amount
- Tenure
- Interest Rate
The device then starts to function and fetches the results for you in just a few seconds. Yes, it is that quick! It is easy to use the same and because of its 24×7 accessibility, it is widely used by many loan seekers.
Let’s just understand the concept of the same with the help of an example below.
Suppose, Ankit Verma, a 30-year-old, Corporate Manager by profession is looking for a personal loan of say ₹2 Lakh so as to renovate his home. After receiving his loan application, Muthoot Finance got agreed to offer the loan at an interest rate of 10.75% per annum for a tenure of 4 years. So, let’s just figure out what’s gonna be the EMI and Interest Outgo in this case.
Table Showing EMI, Interest Outgo, and Total Repayment Amount
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
Year | Principal | Interest | Balance Amount |
---|
1 | ₹ 42,281 | ₹ 19,457 | ₹ 1,57,718 |
2 | ₹ 47,057 | ₹ 14,681 | ₹ 1,10,661 |
3 | ₹ 52,372 | ₹ 9366 | ₹ 58,288 |
4 | ₹ 58,334 | ₹ 3450 | ₹ 0 |
Documents Required for Muthoot Finance Personal Loan
Documentation is one of the major reasons for a loan rejection as, without a complete set of documents, most of the lenders either delay or reject an application. So, it is important that you have all the documents ready before applying for a personal loan.
- Loan Application Form
- Passport Size Photographs
- Identity Proof: PAN Card/ Voter ID Card/Aadhaar Card/Driving License
- Address Proof
- Employment Proof
- Signature Proof
- Income Proof: Last 3/6 Months Bank Statements, Audited Financials for the Last 2 Years
Muthoot Finance Personal Loan Customer Care Number
In case you have any query, concern, complaint or feedback, you can get in touch with the customer care executives of Muthoot Finance. All you need to do is just dial 18001211210/+91-8000451451/+91-11 3051 3051 either from your landline or mobile in order to be in touch with the highly experienced team of experts to get the best solutions.
Features & Benefits of Muthoot Finance Personal Loan
- Faster Processing
- Minimum Documentation
- Flexible Repayment Options
- Doorstep Service
- Attractive Interest Rates