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Gold Loan Calc

Muthoot vs Manappuram Gold Loan Comparison

TL;DR — AI Summary

Muthoot Finance charges 12–26% interest with processing fee of 0.25–2%. Manappuram charges 12–26% with processing fee of 0.50–2%. Both offer 75% LTV and same-day disbursement. Muthoot has 5,700+ branches versus Manappuram's 4,700+. Per-gram rates vary by scheme — Muthoot's "iGold" and Manappuram's "Online Gold Loan" offer the most competitive rates. This tool compares both NBFCs in real-time.

Compare NBFC Schemes Side-by-Side

Standard
MF

Muthoot Finance

India's Largest Gold Loan NBFC • 5,700+ Branches

Estimated Max Loan-
Selected Rate12.0% p.a.
Monthly Interest (Bullet)-
Processing Fee (avg 0.50%)-
Disbursement TimelineWithin 30–45 Mins
Online Top-up AppMuthoot iGold
12-Mo Total Borrowing Cost-
MA

Manappuram Finance

Leading NBFC • 4,700+ Branches

Estimated Max Loan-
Selected Rate12.0% p.a.
Monthly Interest (Bullet)-
Processing Fee (avg 0.75%)-
Disbursement TimelineWithin 30 Mins
Online Top-up AppOnline Gold Loan (OGL)
12-Mo Total Borrowing Cost-

Muthoot vs Manappuram: Key Differences

Both Muthoot Finance and Manappuram Finance are registered Non-Banking Financial Companies (NBFCs) regulated by the RBI. While their interest rate slabs are comparable (12% to 26%), here are the key practical distinctions:

  • Branch Footprint: Muthoot possesses the wider national network with over 5,700 branches across urban and semi-urban India, compared to Manappuram's 4,700+ branches.
  • Short-Term Micro Loans: Manappuram specializes in short-tenure 1–3 month loans under its OGL scheme with automated daily interest reckoning.
  • LTV and Valuation: Both follow the 75% RBI cap, but scheme tiers change the effective per-gram amount based on your repayment track record.

Frequently Asked Questions

Which gives more loan per gram: Muthoot or Manappuram?+

Both offer up to 75% LTV as per RBI guidelines. The exact amount per gram depends on the interest rate scheme you choose — higher interest schemes often offer slightly higher per-gram cash.

Can I pay gold loan interest online for both?+

Yes. Muthoot provides the iGold / MuthootOnline app, and Manappuram offers the OGL (Online Gold Loan) app for instantaneous interest payment and top-ups.

What happens if I miss the gold loan due date?+

Both lenders charge overdue interest (typically 2–3% extra p.a.) and issue formal legal notices before initiating gold ornament auctions after 15–30 days.

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