Short answer: Both are large gold loan NBFCs with no foreclosure charge. Manappuram publishes its full rate table (9.90% to 24% a year, depending on scheme and how often you pay interest) and a ₹30 one-time fee. Muthoot publishes only a 9% minimum for monthly interest payments and lends from ₹1,500.
Last verified: 12 October 2026 from each company’s official website and, where marked, its Google Play listing. Rates and fees change; the lender’s Key Fact Statement (KFS) and loan agreement decide your actual terms. FundsTiger does not rank lenders.
Muthoot Finance vs Manappuram Finance at a glance
| Muthoot Finance | Manappuram Finance | |
|---|---|---|
| Type | RBI-registered NBFC (gold loan specialist) | RBI-registered NBFC (gold loan specialist) |
| Loan amount | From ₹1,500; no fixed maximum (some schemes up to ₹5 crore) | From ₹10,000 to ₹5 crore |
| Interest rate | From 9% a year if interest is paid monthly; compounded monthly; scheme rates not published | 9.90% to 24% a year by scheme and how often you pay interest; annualised 26.82% |
| Loan-to-value (LTV) | Not stated on its pages; RBI caps it at 85% up to ₹2.5 lakh | 85% up to ₹2.5 lakh; 80% for ₹2.5 to 5 lakh; 75% above |
| Processing fee and charges | No processing fee listed; 1% service charge on some 12-month loans (South), 0.15% security charge elsewhere (₹100 to ₹1,000) | ₹30 including tax, one-time at settlement |
| Tenure | 12 months for the normal scheme | Up to 12 months |
| Repayment options | Monthly EMI, bullet, part-payment | Interest monthly, every two months or quarterly, principal at the end; day-wise interest |
| Gold accepted | 18 to 22 carat jewellery or coins | 18 to 22 carat (one FAQ says up to 24) |
| Closing early | No foreclosure charge; pay interest to date | No foreclosure fee |
| Branches | Branches across major states (count not stated) | 5,000+ branches |
| Online and doorstep | Gold Loan@Home (up to ₹500 charge); online top-ups via iMuthoot | Online gold loan 24×7 |
| Also worth knowing | Same-day disbursal in branch; Several schemes priced by ticket size | Rate depends on how often you pay interest; No CIBIL requirement; free insurance on pledged gold |
RBI limits apply to every regulated lender: from April 2026, a gold loan for personal use can be at most 85% of the gold’s value up to ₹2.5 lakh, 80% from ₹2.5 lakh to ₹5 lakh and 75% above, with interest due at maturity counted for bullet loans. Lenders can lend less. Check how much your gold can raise with our gold loan calculator.
What a ₹1 lakh gold loan for 12 months would cost
We costed the same loan on each lender’s published rates, assuming you pay interest every month and repay the principal at the end. Paying interest less often, or compounding, raises the cost.
| Lender | Scenario | Rate a year | Interest for the year | Fees | Total cost |
|---|---|---|---|---|---|
| Muthoot Finance | Minimum rate, interest paid monthly | 9% | ₹9,000 | See charges above | ₹9,000 + any charges |
| Manappuram Finance | Lowest scheme rate, interest paid monthly | 9.9% | ₹9,900 | ₹30 | ₹9,930 |
| Manappuram Finance | Same scheme, interest paid quarterly | 22% | ₹22,000 | ₹30 | ₹22,030 |
| Manappuram Finance | Annualised rate | 26.82% | ₹26,820 | ₹30 | ₹26,850 |
Key differences
- Rates: Muthoot from 9% a year if interest is paid monthly; Manappuram 9.90% to 24%, annualised 26.82%.
- Charges: Muthoot lists no processing fee but some schemes carry a 1% service or 0.15% security charge; Manappuram charges ₹30 at settlement.
- Smallest loan: Muthoot ₹1,500; Manappuram ₹10,000.
- Paying interest: at both, paying interest monthly keeps the rate lowest.
Which should you choose?
Muthoot Finance may suit you if you want a very small loan or a doorstep (Gold Loan@Home) service.
Manappuram Finance may suit you if you want to see the exact rate for your scheme before you visit.
Whichever you pick, compare the APR in the KFS you are actually offered, not the advertised starting rate.
Before you apply
- Ask for the rate for your exact scheme and how often you must pay interest. Paying monthly is usually cheapest.
- Read the Key Fact Statement (KFS): it must show the APR, every charge and the total you will repay.
- Check the weight and purity recorded on your pledge receipt, and keep it safe.
- Know the auction rules: RBI requires notice before any auction, and the lender must return any surplus.
- Use our gold loan calculator to see the most you can borrow under RBI limits.
Want to see offers from several RBI-regulated lenders in one place?
Frequently asked questions
Which charges less interest, Muthoot or Manappuram?
Their lowest published rates are close (9% and 9.90% a year), and both apply when you pay interest every month. Rates rise if you pay less often. Ask for the scheme rate in writing before you pledge.
Can I close a gold loan early?
Yes. Both state no foreclosure charge; you pay interest up to the day you close.
Are these lenders RBI-regulated?
The loans described here are given by RBI-registered NBFCs or banks named in the table. Check the lender named in your loan agreement on RBI’s digital lending app list.
Where do these figures come from?
From each company’s official website and, where noted, its Google Play listing, checked on 12 October 2026. Where a company’s own pages disagree, we show both figures.
Sources
- Muthoot Finance gold loan
- Muthoot gold loan interest rate
- Manappuram gold loan
- Manappuram gold loan interest rates
- Manappuram charges
Read more: Manappuram Finance lender profile · Gold loan rates of 10 lenders · Gold loan calculator · All loan app reviews · Lender directory
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Disclosure: FundsTiger (Gatimaan Finance Advisors Pvt. Ltd.) is a loan marketplace and lending service provider for RBI-regulated lenders. Aparampaar Finance Pvt. Ltd. (Omozing), one of those lenders, is a related party of FundsTiger. This article is general information, not financial advice. Read your loan agreement and KFS before you decide.