1. What is Muthoot Credit Builder (MCB)?
MCB is an EMI-based gold loan offered by Muthoot Finance at an attractive interest rate of 1.8% per month. It helps individuals build their credit history and internal M-Score while fulfilling their financial needs.

2. How is MCB different from any other gold loan or personal loan? Unlike traditional gold loans that require monthly interest payments with a lump sum principal repayment at the end of tenure, MCB follows a fixed EMI structure with tenure ranging from 6 to 36 months. It also contributes to your credit history with various credit bureaus and boosts your Muthoot Credit Score: M-Score. Unlike a traditional unsecured personal loan, it requires minimal documentation – only Aadhar Card and PAN card are needed for loan application. There is no minimum credit score or history required to avail MCB loans.

3. Am I eligible for the MCB loan?
Yes, if you have gold to pledge, possess all valid documents and you
are over 21 years of age, you can avail loan of up to ₹ 2,00,000. If you
are above 24 years of age, you can avail loan up to ₹5,00,000.

4. I was denied a personal loan. Am I guaranteed to get an MCB loan?
Yes. No credit score or credit history is required to avail an MCB,
making it accessible even if you were denied a personal or business
loan earlier.

5. What all documents are required?
Only your AADHAAR Card and PAN Card are needed at the branch.

6. What kind of gold is accepted?
Ideally, 22-carat gold is preferred. Your gold will be evaluated before
loan approval by the branch. Please visit your nearest branch to get
your gold evaluated and find out the eligible loan amount.

7. What if I do not have time to visit the branch?
You can use Muthoot’s Loan at Home facility for gold evaluation and
application, and loan disbursal—all from the comfort of your home,
free of cost.

8. Can I shift from my currently running gold loan to MCB?
Yes, you can release gold pledged under an existing gold loan and
pledge it afresh under a new MCB loan. However, the existing loan
cannot be converted directly to MCB.

9. Where is MCB available?
As of now, MCB is available in Bangalore, Hyderabad, and Chennai.
We are working on bringing MCB to locations across India very soon!

10. Can I take more than one MCB loan?
Yes, you can avail multiple MCB loans by pledging gold separately for
each new loan.

1. What is the minimum and maximum loan amount I can get?
You can avail a loan from ₹30,000 to ₹5,00,000, depending on the gold
pledged.

12. What is the tenure of the MCB loan?
You have the flexibility to choose a tenure anywhere between 6 to 36
months.

1. What is the rate of interest for this loan?
MCB loans come at a competitive interest rate of 1.8% per month.

2. What is the processing fee?
A processing fee of 0.6% of the loan amount will be charged at the
time of loan disbursal.

3. What charges apply on early closure?
If you foreclose your loan before 6 months of the planned tenure, a
2% charge on the outstanding principal will apply.

4. What happens if an EMI is missed or e-NACH fails?
•Bounce charges: ₹150 per failed e-NACH debit
•Late fees: ₹1 per day per ₹1,000 of EMI due.
You can visit the nearest Muthoot Finance branch to pay the missed
payment and charges.

1. What are the modes of repayment available?
When availing the loan, it is mandatory to enroll in e-NACH, a facility
that ensures your EMI is automatically debited from your linked bank
account each month on the due date. Repayment is made through
EMIs, automatically deducted via e-NACH. You may also pay
manually at the branch if e-NACH fails.

2. When will my first EMI be due?
• Loans disbursed before the 20th of a month: EMI due on 1st of
next month
• Loans disbursed on/after the 20th: EMI due on 1st of the next to
next month

3. What happens if I miss an EMI?
Late payment and bounce charges will apply. You may pay the EMI and
charges manually at the branch if e-NACH fails. All missed EMIs, with
charges, must be cleared at the end of the tenure to release your gold.

4. Is a lump sum payment required at the end of tenure?
No, if all EMIs are paid on time, only the final EMI and applicable
charges (if any) are required at closure. Otherwise, overdue EMIs must
be paid in full.

5. Can I make part payments?
No. Part payments are not allowed to encourage disciplined monthly
repayment and credit building.

6. Can I prepay or foreclose the loan?
Foreclosure is allowed, but a 2% foreclosure charge applies if closed
before 6 months from planned tenure. Prepayment/part payment is
not permitted.

1. Can I pledge more gold?
Yes, but only under a new MCB loan. You cannot increase the loan
amount on an existing MCB loan.

2. Can I get a top-up on the same loan?
No. Top-ups are not allowed. If you require additional amount, you
must apply for a fresh loan by pledging more gold.

3. Can I partially release gold during the loan tenure?
No. Partial release is not allowed. Gold can only be released upon full
repayment and loan closure or foreclosure.

4. Can I pledge more gold?
Yes, but only under a new MCB loan. You cannot increase the loan
amount on an existing MCB loan.

5. Can I get a top-up on the same loan?
No. Top-ups are not allowed. If you require additional amount, you
must apply for a fresh loan by pledging more gold.

6. Can I partially release gold during the loan tenure?
No. Partial release is not allowed. Gold can only be released upon full
repayment and loan closure or foreclosure.

1. What is the Muthoot internal M-Score?
M-Score is Muthoot's proprietary credit score based on your credit and
repayment behaviour under MCB. You can view your M-Score progress
in the iMuthoot app.

2. Will MCB help me build my credit score?
Yes. Timely EMI repayments will improve your M-Score within the
Muthoot ecosystem. They will also be reported to credit bureaus like
CIBIL, Experian, etc., helping build or improve your credit history.

3. How is a high M-Score useful to me?
A good M-Score unlocks exclusive Muthoot offers and helps you
access attractive financial products and offers within the Muthoot
ecosystem.