Muthoot Finance claim that they are the largest gold financing company in India .But in my personal experience they are the biggest fraud in India. I pleged some 151 gms of gold in 2007 with muthoot, mathere(bangalore) branch. and took a priemere personal loan(ppl) worth Rs.100000. Due to some financial proplems in my business, I could n’t repay the interest. So recently when I approched them to redeem my gold ornaments with the hope to close the loan amount, they gave me the biggest shock in my life by telling that THEY AUCTIONED MY GOLD.I’m ready to pay the penality interest also.BUT ALL MY REQUEST WAS IN VAIN.THEY SAID THEY DON"T HAVE THE GOLD WITH THEM.THEY AUCTIONED IT.
My experience was a big eye opening for me.
==Beware of pleding your hard earned gold with FRAUD FINANCING COMPANIES like Muthoot. ==