Muthoot Finance Personal Loan Eligibility Criteria 2025
The year 2025, has marked its prominence for its mark in the personal loans segment. Personal loans are still a fantastic way to tackle those unexpected expenses. You may be dreaming of that perfect vacation, looking to invest in your education, building home improvements, or dealing with medical emergencies personal loans can actually work wonders for your financial planning. Muthoot Finance, which is well-known for its gold loans, is also gradually expanding or broadening its range of unsecured personal loans, perks like minimal paperwork, quick disbursal, and flexible eligibility criteria. In this article, we’ll dive into Muthoot Finance personal loan eligibility requirements, interest rates, necessary documentation process, fees, as well as some handy tips to enhance your chances of approval in 2025.
But before we proceed let’s understand what the concept of personal loan is as a whole.
What is a personal loan?
Talking about financial loans, a personal loan is a flexible financial option that can fully assist you in managing immediate or short-term funding needs. You can utilize the money from a personal loan for a variety of aspects, like covering medical bills, paying for weddings, funding vacations, funding your kids’ education, buying personal gadgets, renovating your home, and even helping out with business expenses.
When it comes to paying back a personal loan, you will typically do so through equated monthly instalments or in short EMIs. These payment procedures comprise both the amount you borrowed as well as the interest, and you’ll continue making them to the lender over a set period until the loan is completely paid off.
Since personal loans are not very secured, meaning you don’t need to put up any collateral, the eligibility requirements can be a bit firm or rigid in comparison to secured loans. This indeed aids lenders to manage their risk while still giving you the freedom to use the funds however you need.
Muthoot Finance’s personal loan
In the genre of personal loans Muthoot Finance has always remained a good opportunity or option for loan seekers. Muthoot Finance is indeed a prominent Non-Banking Financial Company or in short NBFC, was initiated back in 2001. Initially, the company gained its reputation through offering gold loans. But over the years, the financial organization has gradually expanded its offerings to comprise a diverse array of financial products. Their long product list now encompasses personal loans, microfinance, insurance, housing finance, mutual funds, and much more.
Since its inception, Muthoot Finance has been working relentlessly in the domain and has been recognized as ‘The Most Trusted Financial Services Brand’ according to the Power of Trust TRA Brand Trust Report from 2016 to 2020. This particular organization offers a diverse range of financial services, of which the segment of personal loans is tailored to meet the unique demands of its customers.
Then the question arises, what are the Muthoot Finance personal loan eligibility criteria? Let’s take a look.
Muthoot Finance personal loan eligibility criteria
To avail of a Muthoot Finance Personal Loan, you need to meet a few eligibility requirements:
Muthoot Finance loan eligibility for salaried employees: If you’re employed drawing a salary either by a public sector unit or even a private sector, reputed company, you will be eligible to apply for this loan.
For Self-employed Individuals or business persons: If you have a steady and well-verified income every month, you will also be able to apply or check for Muthoot Finance Personal Loan eligibility.
Additional considerations: Your eligibility for the loan application will also be evaluated or calculated based on certain aspects like your age, monthly income, total work experience, how many years you will be working in your job, whether you own a home, along with your overall risk profile.
What is the age limit for Muthoot Finance’s personal loan?
Check the below-mentioned age limit for the Muthoot Finance personal loan eligibility-
- If you are a salaried person, you can start applying from the age of 21 till 60 years of age at maturity
- If you are self‑employed you can start to apply for this category of loan from 24 to 65 years at maturity.
Income criteria for the loan application
- Minimum salary for Muthoot Finance personal loan should range from Rs. Fifteen to twenty thousand minimum depending on your income zone.
- If you are self-employed running your own venture, the minimum income requirement is around Rs. 1 lakh or more per annum.
Credit score & financial health check criteria
If you are willing to apply for a Muthoot Finance personal loan, a CIBIL score check is mandatory. The CIBIL score should range between 650 and 750 is a crucial benchmark for availing loan approval. If you have a CIBIL score of 750 or above it will be considered as the gold standard. Lenders usually look for applicants whose total debt payments including that of EMIs for the new loan are less than 50-60% of their monthly income, this is generally referred to as the FOIR or Fixed Obligation to Income Ratio. Having a solid repayment history and also keeping your credit utilization low at the same time can really help you snag better interest rates.
Loan amount & tenure
When it comes to loan amounts and tenure, here are certain things that you should know before applying:
You can borrow any amount ranging from RS. 50,000 to as much as Rs 10 lakh or even Rs 15 lakh, matching your level of income, how consistently and conveniently you can repay, as well as the reputation of your employer. As for the tenure, it’s quite flexible. You can seamlessly choose a period ranging from 12 months to 60 months, which is basically 1 to 5 years.
Standing in 2025, being a loan seeker personal loan eligibility in Muthoot finance are you need to be an Indian resident whose age is between 21 to 67years, either salaried or self-employed having an income range from Rs.15,000 to Rs. 20,000 per month or Rs.1 lakh per year, a solid work history, along with a CIBIL score ranging from 650 to 750 or higher you can apply for Muthoot Finance personal loan. This loan opportunity caters speed, convenience as well as flexible terms making it a viable choice for loan seekers even for those with a modest income.
Disclaimer – This blog is for informational purposes only. Before conducting any investment, it is advisable to carry out comprehensive research.
People Also Ask About Muthoot Finance Personal Loan Eligibility
Who is eligible for a personal loan in Muthoot Finance?
You need to be an Indian resident aged 21-67 with stable income and a good CIBIL score.
What is the minimum salary for a Muthoot personal loan?
Minimum net monthly salary required for availing this genre of personal loan is Rs. 15,000 to Rs. 20,000.
Which person is eligible for a personal loan?
If you are a salaried or self-employed individual with steady income, good CIBIL score, and valid ID and address proof you will be eligible to apply for this loan.
Who is eligible for a 2 lakh personal loan in Muthoot Finance?
Applicants with a minimum of Rs. 15,000 monthly salary, stable job along with good repayment capacity will easily qualify for this loan category.
How much salary is eligible for the Muthoot Finance personal loan?
You need to earn a minimum of Rs 15,000 as a monthly salary, though Rs 20,000 will ensure higher chances of loan approval.
Can a 15k salary take a Muthoot Finance personal loan?
Yes, if you are earning a minimum monthly salary of Rs 15,000 you are eligible for this loan.
How to apply for a Muthoot personal loan if salaried person?
For Muthoot finance personal loan eligibility, you can apply online or at a branch with documents like salary slips, bank statements, ID, and address proof.
