Muthoot Capital Interest Rate for Fixed Deposit

Muthoot Capital Services Ltd is a registered non-banking financial company operating since 1994 from its headquarters in Kochi. The company offers fixed deposit schemes, besides its automotive retail loans. You have an eclectic choice with Muthoot Capital fixed deposits both in the short–term and long-term. In addition, you can choose their fixed deposit schemes in the non-cumulative and cumulative categories offering one of the best in the market interest rates.

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Moreover, you are in safe hands as their fixed deposits bear CRISIL FA+/Stable rating. Let us take a closer look at what they have on the platter. 

Types of Muthoot Capital Fixed Deposits:

Muthoot Capital fixed deposits are designed to meet your varied interest payout and maturity classes preferences. So let us explore them in detail.

  • Scheme A:  This is a non-cumulative fixed deposit Monthly Interest Plan. It pays accrued interest every month during your chosen tenor. You can deposit a minimum of Rs.1000 for tenors for up to five years. 

  • Scheme B: It is also a non-cumulative Annual Interest Plan fixed deposit where the interest is paid out annually for a maximum tenor of five years. The minimum deposit is Rs.1000.

  • Scheme C: It is a cumulative fixed deposit called Maturity Plan. With a minimum deposit of Rs.1000, you get the maturity value compounded annually at the end of the tenor from one to five years. 

Benefits of Muthoot Capital Fixed Deposit:

Having learned about the fundamentals of Muthoot Capital fixed deposits, let us check out the critical benefits of investing in their products. 

  • You get guaranteed returns with attractive interest rates in all their fixed deposit plans.

  • It encourages your savings habit regardless of your financial status by keeping the minimum investment low at Rs.1000.

  • The company assures you of a seamless withdrawal experience in compliance with their rules.

Features of Muthoot Capital Fixed Deposits:

You have seen that Muthoot Capital offers three fixed deposit schemes in distinctive flavors. Yet, their fundamental character is similar in most respects. Take a closer look at the critical features in their fixed deposit plans:

  • The minimum deposit period is one year.

  • The minimum fixed deposit investment is Rs.1000.

  • Terms and conditions apply for fixed deposit renewal on maturity.

  • You can apply for premature withdrawal after three months from the deposit booking date, except in cases of the primary account holder’s demise. 

  • You can open the fixed deposit jointly but limited to a maximum of three members. 

  • TDS is applied in the interest accrued per the extant laws defined in the Income Tax Act, 1961.

  • However, TDS is exempted if you submit 15G or 15H, as the case may be. 

  • The loan facility is available against Muthoot Capital fixed deposits, subject to complying with their rules. 

  • Muthoot's capital fixed deposit is not covered by DICGC insurance. 

Muthoot Capital Interest Rate for Fixed Deposit:

Muthoot Capital fixed deposit interest rates are attractive enough to sway your investment choice. The following grids illustrate the interest rates applied to their fixed deposit plans.

Scheme A: Monthly Interest Plan (Non-Cumulative)

Fixed Deposit Tenor (Years)

Interest Rate(%) per annum

1 (one)

6.00

2 (two)

6.25

3 (three)

6.50

4 (four)

6.50

5 (five)

7.00

Disclaimer: Policybazaar does not endorse, rate, or recommend any particular insurer or insurance product offered by an insurer.

Scheme B: Annual  Interest Plan (Non-Cumulative)

Fixed Deposit Tenor (Years)

Interest Rate(%) per annum

1 (one)

6.25

2 (two)

6.50

3 (three)

6.75

4 (four)

6.75

5 (five)

7.25

Disclaimer: Policybazaar does not endorse, rate, or recommend any particular insurer or insurance product offered by an insurer.

Scheme C: Maturity Plan (Annual Cumulative)

Fixed Deposit Tenor (Years)

Interest Rate(%) per annum

Annualized Yield (%)

1 (one)

6.25

6.25

2 (two)

6.50

6.71

3 (three)

6.75

7.22

4 (four)

6.75

7.46

5 (five)

7.25

8.38

Disclaimer: Policybazaar does not endorse, rate, or recommend any particular insurer or insurance product offered by an insurer.

Points to Note:

  • Senior citizens, central government pensioners, and staff enjoy a higher 0.25% interest rate over the base rate. 

  • The above does not apply to the maturity plan.

  • Fixed deposit tenor and interest calculation start only upon realization of the cheque. 

  • Interest in Scheme A is paid monthly, Scheme B is annual, and Scheme C on maturity. 

Who Are Eligible For the Muthoot Capital Fixed Deposit?

The interest rates offered to Muthoot Capital fixed deposit customers are enticing, substantially higher than the bank’s best. However, it is essential to check your eligibility before investing in a Muthoot Capital fixed deposit. You can invest if you qualify as any of the following:

  • Resident individuals

  • HUF through its Karta

  • Trusts

  • Minors through their guardian. 

How to Apply for Muthoot Capital Fixed Deposit?

You have two options for applying when investing in a Muthoot Capital fixed deposit. They are online and offline, you can select whichever is convenient to you. Let us find out the details.

  • Online: You must follow the sequential steps described below:

    • Visit the official Muthoot Capital Services Ltd. portal.

    • Select “Products” on the top menu bar to find “Fixed Deposits.”

    • Then, click to open the page and invoke “Apply Now.”

    • Next, provide the basic details like the name, mail ID, and mobile number. Now, wait for “OTP” verification. 

    • Once you are through, fill the fields as prompted by the module to complete the application process.

  • Offline: 

    • In the first step, you must download the application form from the Muthoot Capital Services Limited portal.

    • Fill up the form in capitals and affix your signature.

    • Attach the investment amount and the required documents to the form in cheque/Demand Draft.

    • You have two options – visit any of the 3600 company branches spread across the country or dispatch it to their office in Kochi. 

    • You will receive the fixed deposit receipt at your registered address. 

Documents Required for Muthoot Capital Fixed Deposit:

Your Muthoot Capital fixed deposit application process is incomplete until you furnish the compulsory document copies to comply with their requirements. Accordingly, it would help if you keep the following handy:

  • Duly filled and signed application form.

  • Form 15H if you are a senior citizen or 15G for others.

  • Form DA1 specifying nominee in the fixed deposit. 

  • Copy of your PAN card.

  • Identity Proof – a copy of any of the officially valid documents. 

  • Address Proof - a copy of any of the officially valid documents.

  • A recent passport size photograph for each applicant, if joint. 

In Conclusion

Muthoot Capital fixed deposits provide you with the ideal platform to grow your money in uncomplicated straight plans in the non-cumulative and cumulative classes. The interest offered in the scheme betters many similar financial institutions, especially banks. In addition, you can choose tenors from one year to five years to match your short and long-term financial goals. The icing on the cake is the seamless online and offline application process for the fixed deposit investment.

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