Muthoot Complaints & Reviews

Hi

We have availed a jewel loan with your firm on 11/05/2021 for the amount of Rs 50600/- (loan no F21143) at marthandam branch.
Due to our personal issues we were not available in our native location and we heard about that our jewel is going for auction from the branch manager Ms. Merlin prabha.

So we have requested the branch manager to hold the jewel till today(08/01/2022) and informed we will close/renew the loan by Saturday and they have also agreed for the same.

Since we were not in our native location and travelled today to close the loan to your branch today(08/01/2022). But the branch manager has told that she has given the jewel for auction so we can't give the jewel today. We have travelled so far to close this jewel loan and after hearing this news we are totally disappointed about your process and service.

Finally we have closed the loan with the total interest amount and there was no proper response from the branch manager and requesting us to sign the jewel loan closure form.
How do we attest the jewel loan closure form without our asset. She has given some receipt mentioning that jewel will be handed over to us on 13/01/2022. Who will bare the interest for this 6 days?? and what kind of process you have??.

How can you send a jewel for auction before completing 8 months. This is a serious issue and total disappointment on your prestigious firm.
They would have hold the jewel since we have confirmed that we will come for closure today. We will not avail any accounts with you hereafter and we will suggest our friends and family to close all the accounts with your firm and group concerns.

Want to know where it has been included that the jewel will go for auction before 8 months and no other companies are doing the same.

We need a proper reply for this complaint and your action regarding this ASAP.

I am writing to complain and request immediate REMOVAL of LATE PAYMENTS & OVERDUE for the loan accounts 0577-MUL00016332 & 0577-MUL00016335 which is reflecting in CIBIL & other credit bureaus. MY CIBIL REPORT IS SHOWING THE PAYMENTS WERE LATE BY 17 DAYS, HOWEVER THE DATE I MADE THE PAYMENT WAS AGREED UPON BY THE BRANCH AND WAS ALSO TOLD THERE WILL NO EFFECT ON CIBIL.

I have been a Muthoot customer for the last 6-7 years and have always held high value loans, which I have always released by paying the amounts in FULL & never had an issue with LATE PAYMENTS BEING REPORTED BY MUTHOOT & made all my payments ON-TIME.

However for Loan accounts 0577-MUL00016332 & 0577-MUL00016335, late payment of 17 days were reported by Muthoot to CIBIL for NO fault of mine, I paid the interest on the date had agreed upon with the Gariahat Branch with Mr Avinash,

Mr Avinash confirmed that paying by 30th November - 1st December 2021 is fine and I had also received SMS stating that renewal is due by 1st Week of December and to renew ON-TIME to get rebate and renew the loans at a better ROI.

So to put it short :

1. I renewed on the date that was already agreed on with the branch & you customer service person who called from a Delhi / Gurgaon which was the 1st of December, as I was SICK, the entire November and the same was conveyed to the branch by my father and by me to your Telephone Agent. I was told it will be fine as long as the Gold is renewed and the interest is PAID off by 3rd December and NO Late payments will be recorded in CIBIL if I pay by 1st Week of December.

2. As was agreed upon, I PAID the full interest and also renewed the Gold Collateral by paying some of the original principal amount off by the date already agreed upon on.

3. Also I was sick and while trying to pay ONLINE, I was NOT allowed to repay ONLINE & Muthoot APP & WEBSITE asked me to visit the branch.

So I DO NOT agree that I was late by 17 days in any manner for repayments which is reflecting in CIBIL.

HENCE TAKING ALL THE POINT IN TO CONSIDERATION I REQUEST TO TOTALLY REMOVE / ERASE THE LATE PAYMENTS (17 DAYS DPD / LATE) that is reflecting in CIBIL and other credit bureaus like CRIF & EQUIFAX for both loan accounts 0577-MUL00016332 & 0577-MUL00016335. This late report is WRONG ARBITRARY AND ERRONEOUS FOR ALL THE ABOVE REASON MENTIONED IN THIS EMAIL.

Kindly REMOVE / ERASE the 17 days Late payment / DPD and also kindly remove the Overdue amount please that is showing in CIBIL & CRIF and EQUIFAX.

This WRONG / ERRONEOUS REPORTING made me face a lot of harassment and my Housing Loan got rejected after being a good loyal customer of Muthoot Finance & paying all dues all time Everytime.

Emi was deducted on 10 december 2021 though it was mentioned in sactioned letter that first emi will be deducted on 31 january 2022. Company is denying to show me the policy document of terms and conditions and gave false commitments regarding disbursement. And manager misbehaved with me while asking for policy document

Branch manager was very rude as well as unprofessional. He doesn't know how to respect woman

We have taken bike loan and paying the EMI's regularly. however, there's some amount being added to the due regularly. I tried contacting the nearby branches, but there's no proper response or explanation for this.
I need this to be resolved ASAP.

Today we claimed gold loan for what they they gave cash in bundles and some unbundled cash ... We are in rush to pay the cash in bank for some emergency so once we got the cash immediately we counted the unbundled cash and went to bank as we taught that the bundled cash is from bank and don't need to count were in muthoot they have counting machine which doesn't work which is very basic need in finance company and then from there we directly went to bank to deposit ..when they tried to deposit it shows the lesser amount then we counted manually still the amount was less for what they gave in muthoot so we immediately rushed to muthoot to tell that they gave lesser amount then they us to wait and they said they will check later they said very rudely that it's not our mistake you should have counted the amount here our everything is correct so please don't believe

Hi sir,

I worked as Junior Relationship Executive (EMPID : MF46702) in Muthoot Finance ( Penukonda Branch in A. P (2620))
joined on Nov 20, 2019 and worked till Dec 31, 2020. I worked in notice period also but i didn't get any experience letter from them. When I call HR he is not respond properly. I'm requesting you to provide my relieving letter/experience certificate/ any proof of acceptance of my relieving as soon as possible.

Thanking you

Pavan Kalyan KN

Respected Sir/Madam:

This is in regards to the GOLD LOAN which I had availed from Muthoot in 2019. The complaints are as below:

1. Closing Gold Loan 1 and receiving fake jewelry -
I happened to take a gold loan in 2019 and I repaid the amount in 2020. The jewels were returned, and when I tried to sell these jewels on the same day(2020), it was confirmed by outside pawn brokers, that the jewels were fake.

2. Immediate Reporting of the issue, no action taken -
I immediately reported this to the concerned branch manager, but she stated that this is not possible and kept arguing with me. I had to return back home.

3. I still have the returned jewels - I am still in possession of the jewels that were returned and for verification of the above, it can be cross checked.

4. Active Gold Loan 2, jewels auctioned - Recently, I wanted to close the active Gold Loan 2. But, I was informed that my jewels have been auctioned.

5. Non-closure of Gold Loan 2, reporting to CIBIL - Due to non-closure of Gold Loan 2, Muthoot has reported to CIBIL, which in turn has tarnished my CIBIL score.

Bottom Line - 1. My hard earned money gone to waste.
2. Received fake jewelry.
3. Will not get my jewels even if I close my Gold Loan 2.
4. Incorrectly reporting to CIBIL.

Due to the above, I am under a lot of stress and mental agony, since it has tarnished my reputation.

Regards,
Arjun
contact number: [protected]
email id: [protected]@gmail.com

Dear Sir/Madam,

I, Trupti Vasant Shelke, I had taken the Gold Loan before Corona Pandemic by keeping Gold Jewellery owned by my family at Muthut Finance Limited, 301, 3rd Floor, Business Classic, Chincholi Bunder Road, , (Near S.V Road) Behind H.P Petrol Pump, Malad West, , Mumbai, Maharashtra 400064 to come out of my financial troubles and to become better financially as a middle class family. I was paying due monthly interest...

Muthoot is giving offers for NPA account. If customer close their account they give flat discount of 10% on interest part. So I tried to clear one loan account by transferring the amount as told by Muthoot staff. After receiving the payment Muthoot employee is saying that sorry you will not be able to get discount of 10%.

This is totally unethical and we need a solution for this.

Dear Team my husband has take personal loan from Muthoot Finance and his pending to pay only 3emis... The person from Bangalore Johnson market branch Mr.Dinesh had spoke to me over phone in very inappropriate manner and without respect.. I feel the customers are not treated in respective way.. I want the team to take action against him as soon as possible.. if action is not taken .. I would highly not recommend Muthoot Finance to anyone...

I have completed my installment at the time but I have not received my NOC from your branch. So, please provide me MY NOC from your branch as soon as possible. Thanks you.

I am Minaxi Pandey having a gold loan with muthoot fincorp having loan number F65357 due covid i lost the job i am unable to pay interest from last sep 2020 bcz m jobless n m single mother suffering from very huge financial crisis n i am not in delhi m in my home town that time that is the reason m unable to renew in july 21 i got a call from customer care saying that you haven't pay the interest i agreed n saying that from next month aug 21 when i am in Delhi will pay the interest in aug 21when i reach the branch for paying the interest they are saying your jewelry is going for auction even i didnt get any call or message or any letter (notice) that my jewelry is going for auction without my knowledge how can company will do that they have to confirm with me whether m going to pay the interest or not. Now i will pay whatever the interest may be but i need my gold to be return to me.
Thanks
Minaxi Pandey
[protected]

Iam not a customer of muthoot, iam a working staff of muthoot microfin in Bp angadi. In my experience of three years with the MFL BRANCH BP ANGADI was very bad comparing to other MFL branches.

BM of BP ANGADI MFL (MOLLY VARGHESE )make their own rules to delaying our work and process. All other BM's corporate with us smoothly. We supposed to work with company rules. Not with the rules created by someone else.


I know all MFL branches are work with a vision that provide better financial service to all. But here they treat only their customers well and ignore MML STAFFS and MML customers, i don't suffer this type of attitude done by the Bm of
the branch. They create special agenda to make conflicts with mml staffs. other branches done their part equal to their customers and Mml staffs. Priority with who came first, thats fare. But here if i came first, then their 3 customers enter, they treat me only after the 3 customers transaction end, i don't know why this BM have such a wrong attitude to us. We don't interrupt their work. We just do their work like pledges, posting collections, etc.
I wish to inform that this attitude is not good to muthoot as a MFL BRANCH, and i don't expect a change in attitude with the people in that branch, i stop transacting with them.
Very bad experiences, if they need to focus their business only, its not a good thing. Treat well who approach the branch with out any discrimination. Its a humble request to do the needfull for a better change to all.
I don't seek any favour or priority, just need cooperation to the smooth going

I have been trying to renew my loan from last 30 days, only problem with me is, I can't go to Bareilly to renew because I just recovered from corona and I was already on leave because of that so I can't take more to come to Bareilly, I have made no. Of calls, sent number of email but no response, I don't want my gold article to be auctioned, please help me renew my loan online or from any branch in delhi Ncr.
Customer ID:- [protected]
Avinash Dwivedi

Hi,

I have taken bike loan in muthoot finance. We have paid all EMI's in time and there was a due of 6000 which we cleared (final settlement) in the month of Feb 2021.

As per the discussion in the office they said I'll be getting my NOC in 3 months. After 3 months I reached the office to check the status but they are saying that the status is still pending.

I don't understand what kind of these things are happening with my bike loan.

I lose trust in muthoot finance and my request is I want immediate action on my complaint.

Thanks,
Sravan

I have sent email and called muthoot Fincorp to update my DOE in EPF account. No one responsing my email and calls. Please help me to resolve this issue. Thank you

Hey team,

My policy number 1666/MDL/1345, from last 2-3 months I have submitted my loan amount on time i.e on 2 nd of every month but this time I was not aware that I have to pay on 1 August.

I request you to please provide me Waver period i.e. 1 day relaxtion.

Waiting for positive reply

I paid money to imuthooth app for my gold loan account, money was debited but not credited to my account.

Dear sir Please help me my sister have gold loan in muthoot fincorp in delhi rohini sector 3 branch this branch auction her Gold she dint know how to write mail or complaint so sir behalf of her im writhing this mail she is in big trouble she taking gold loan 24/09/2020 and her gold loan number is - F53801, i would like to inform you that i had an accident and due to which caused several injured due to crisis i was not been able o have glance over my financial matters. sir, now-a-days my financial condition is bad to worse after that i will pay all dues.