Muthoot Finance Personal Loan Interest Rates

With interest rates starting from 1.20% per month, Muthoot Finance Personal Loan is an affordable financing option. With a tenure of up to 60 months, making loan repayment becomes convenient and manageable. You can also check the additional costs associated with a Muthoot Finance Personal Loan to assess the complete loan repayment costs.

Here are the Muthoot Finance Personal Loan interest rate details:

*Disclaimer: The mentioned values are subject to change at the lender’s discretion.

Here are some loan-related fees and charges you should consider before applying:

*Disclaimer: The mentioned values are subject to change at the lender’s discretion.

Here are some common factors which may have a major impact on your personal loan interest rate:

• Credit score

• Income level

• Employment history

• Loan tenure

• Debt-to-Income (DTI) ratio

• Relationship with the lender

• Type of employment

• Economic conditions

• Collateral

Use the following formula to calculate the instalment for a Muthoot Finance Personal Loan.

EMI = P x R x (1+R) ^N / [(1+R) ^N-1]

Here,

• EMI = The instalment amount paid each month

• P = The borrowed loan amount 

• N = The repayment tenure

• R = The rate of interest 

For example, let’s say you have a loan of ₹10,000 for a tenure of 12 months at an interest rate of 14.50% p.a. In this case, the EMI amount is ₹900.23. To make it easy to calculate the EMI amount you can use a personal loan emi calculator available on Bajaj Markets. 

Simply enter the 3 details and instantly learn the EMI amount, interest charges payable, and total loan repayment cost. You can also check the amortisation schedule to check how the loan repayment progresses over the tenure. These insights can help you plan efficiently and budget better.