Uses of a personal loan

We are coming soon with the most convenient personal loan. Our personal loans can serve your immediate short-term financial necessities through a completely online process. We are a SBU of Muthoot FinCorp, one of the most trusted NBFCs in India, with a legacy of 135 years.

With our Personal Loan, you can borrow money for any personal reason, such as emergency expenses or big-ticket purchases like a new car, home, etc. You can pay back a personal loan in equal monthly installments with applicable interest over a few years. If you do not have any gold jewellery to get a Gold Loan, you can go for our Personal Loan. The interest rates will be fixed, and the monthly payment remains the same.

Why should you get a personal loan? A personal loan may be a good option if you encounter a quick financial emergency. Personal loans are less expensive than other financial tools like credit cards. Moreover, your vehicle, home, or savings accounts are at a lower risk because these are not tied to a personal loan as collateral.

Personal loans are the best way to fund multiple objectives. Below are the seven reasons to get a personal loan.

Home Renovation You can upgrade your home using a personal loan. The loan can cover expenses for interior design, necessary maintenance, or furnishing to make the home more efficient.
Emergency expenses Personal loans are suitable to cover any medical or unexpected expenses like a costly car repair as the loan disbursement is quick. Though you have a health insurance policy, it will not cover all the medical bills during hospitalization for many reasons.
Big ticket purchases You can buy home appliances or a new computer with a personal loan if you don't have upfront funds. The day-to-day usage of these items will save you time and you can pay off the loan in small installments over time.
Finance your car Personal loans are good options if you don't wish to use your car as collateral for an auto loan. Your car will be at less risk as it is not hypothecated to a bank. Using a personal loan, you can buy a brand-new or pre-owned car without emptying your savings account or emergency fund. A personal loan can get you 100% finance for a car based on your income, but typically, auto loans provide 80% of the car's cost. Moreover, the interest rates of pre-owned car loans are comparatively higher.
Wedding expenses A personal loan can help you sponsor your wedding expenses, such as booking the venue, hiring a wedding planner and videographer, and expenses for decoration, wedding outfits, etc.
Vacation costs You can use a personal loan to go on a vacation, honeymoon, or luxury cruise. The expenses related to travel, visa, hotel, food, and shopping can be covered with a personal loan.

A personal loan is a great way to achieve multiple objectives. Our simple application process, competitive interest rate, and flexible tenure will help you to fulfill your short-term financial needs. Prompt repayment of personal loans can increase your CIBIL scores. Head to our website and apply for a personal loan.

Chat on Whatsapp | Branch Locator | Email us - customercare@muthoot.com | Download App