Terms and Conditions:

Terms and Conditions for Muthoot Money Wallet – Website

Please read the following terms and conditions carefully before registering, accessing, browsing, downloading or using the Site. By accessing or using the Site or by using the Service you agree to be bound by these terms and conditions set forth below including any additional guidelines and future modifications. If at any time you do not agree to these terms and conditions or do not wish to be bound by these terms and conditions, you may not access or use the site and immediately terminate your use of the services.

IMPORTANT: This document is an electronic record in terms of Information Technology Act, 2000 and rules there under as applicable and the amended provisions pertaining to electronic records in various statutes as amended by the Information Technology Act, 2000. This electronic record is generated by a computer system and does not require any physical or digital signatures.


The services are not available to persons under the age of 18 or to anyone previously suspended or removed from the services by Muthoot Money. By accepting these Terms & Conditions or by otherwise using the Services or the Site, you represent that you are at least 18 years of age and have not been previously suspended or removed from the Services. You represent and warrant that you have the right, authority, and capacity to enter into this Agreement and to abide by all of the terms and conditions of this Agreement. You shall not impersonate any person or entity, or falsely state or otherwise misrepresent identity, age or affiliation with any person or entity.


We are a Reseller Only. Muthoot Money does not provide mobile service and is only a reseller of prepaid mobile services by telecommunications service providers or the providers of such prepaid recharge (the ‘Telco’ or ‘Telcos’) or other distributors or aggregators of such Telco’s. Muthoot Money is not a warrantor, insurer, or guarantor of the services to be provided by the Telco’s. Recharge sold by us to you is sold without recourse against us for any breach of contract by the Telco. Any disputes regarding the quality, minutes (talk time) provided, cost, expiration, or other terms of the Recharge purchased must be handled directly between You (or the recipient of the Recharge) and the Telco.

Deposit/Load Wallet

You can use multiple funding sources for depositing/loading money into this Wallet. These sources could be but not limited to Cash, Credit Cards, Debit Cards, Net Banking, and Transfer from another Wallet.

The Wallet may also be loaded by transfer of refund money of transactions made using Muthoot Money Services. In order to manage risk, Muthoot Money may limit the funding sources available for your use to fund any particular transaction. For example, Muthoot Money may limit your funding sources for a particular transaction to debit cards or your net banking account.

Muthoot Money will monitor each deposit made into your Wallet to monitor high-risk & fraudulent transactions. If your deposit is classified as a high-risk transaction or is suspected of fraud, Muthoot Money will place on hold the deposit and may ask you for more information about you and your funding source. Muthoot Money will conduct a review and accordingly will either clear or cancel the deposit. If the deposit is cleared, Muthoot Money will notify you and update your Wallet. Otherwise, will cancel the deposit and the funds will be forfeited. The said funds will be refundable only to source account upon valid demand raised by holder of source account. Muthoot Money will notify you by email and/or in the account history tab of your Wallet if the deposit is canceled.


  • The Wallet may be reloaded as many number of times within the limits prescribed by Reserve Bank of India ("RBI") and Muthoot Money in its discretion can assign a lower limit and/or frequency of reload as deemed appropriate. However, the Wallet holder shall ensure that the total value of reloads during any given month and the sum total value in the wallet, at any point of time, does not exceed Rs.10000/-.
  • The amount that can be deposited in the Wallet is governed by policies laid down by RBI. These involve monthly limits, transaction limits as well as balance limits on the Wallet.
  • The maximum monetary value that can be stored and utilized in a month and the maximum monetary value that can be held in the Wallet, at any point of time, is INR 10,000/-(Rupees ten thousand only).
  • These limitations stated herein above may be reviewed and modified at the discretion of Muthoot Money without prior intimation to the Wallet holder.
  • The said Wallet is valid for use only in India in Indian Rupees.
  • The Services or any Wallet holder's Wallet is not transferable.
  • The Wallet holder shall be able to use the Wallet only to the extent of the amount loaded onto the Wallet.
  • The Wallet shall be activated subject to the desired amount being loaded on the Wallet.
  • No cash withdrawal or cash remittance is permissible on the Wallet.
  • The Wallet holder is permitted to maintain and operate only one Wallet. Any suspected non-conformity with this requirement shall be just cause for the suspension/ discontinuation of any/all Wallets associated with the Wallet holder.
  • Muthoot Money may further as per its discretion introduce appropriate controls over the usage of the Wallet.


Wallet holders can choose to use the funds available in their Wallet to purchase Products from Merchants using Muthoot Money Services.

If the Wallet holder is not satisfied with the services provided by the Merchant or has not received goods promised by the Merchant then the Wallet holder can raise a dispute with Muthoot Money after first raising and failing to get redressal of his grievance from the concerned merchant. The dispute will be governed by the Muthoot Money terms and conditions.

The Wallet holder may also partially pay for the Products offered by the Merchant from its Wallet and pay the remaining amount using other payment mechanism such as debit card, credit card, net banking etc., provided by Muthoot Money. The usage of other payment mechanisms provided by Muthoot Money shall be governed by Muthoot Money terms and conditions.


Muthoot Money reserves the right to suspend/discontinue the Services at any time, for any cause, including, but not limited, to the following;

  • for any suspected discrepancy in the particular(s), online application, documentation provided by the Wallet holder;
  • suspected or potential fraud;
  • sabotage, willful destruction, threat to national security or for any other force majeure reasons etc.;
  • if the same is due to technical failure, modification, upgradation, variation, relocation, repair, and/or maintenance due to any emergency or for any technical reasons;
  • if the same is due to any transmission deficiencies caused by topographical and geographical constraints/limitations;
  • for any suspected violation of the rules, regulations, orders, directions, notifications issued by RBI from time to time or for any violation of the terms and conditions mentioned herein;


Wallet holder has the option to close the Wallet at any time. The closure of such Wallet may be communicated to Muthoot Money over email at: mails@muthootgroup.com

All the Wallets including multiple Wallets if any will be terminated basis the written request. Termination will be effective after payment of all amounts outstanding on the Wallet.

Muthoot Money may also restrict, terminate or suspend the use of Wallet at any time without prior notice if Muthoot Money reasonably believes it necessary for business or security reasons. The Wallet must not be used after these Terms and Conditions end or while use of Wallet is suspended.

Muthoot Money shall, upon adequate verification, block/suspend/close the Wallet and terminate all facilities in relation thereto during working hours on a working day following the receipt of such intimation and shall not be liable for any inconvenience caused to the Wallet holder in this regard.

There is no expiry date for the Wallet. However, any value in a Wallet must be utilized: (a) within 12 months from the date of the last Transaction or (b) within 12 months from the date of activation of the Wallet; whichever is later.

Refund Policy

All sales of Recharge are final with no refund or exchange permitted. You are responsible for the mobile number or DTH account number you purchase Recharge for and all charges that result from those purchases. Muthoot Money is not responsible for any purchase of Recharge for an incorrect mobile number or DTH account number. However, if in a transaction performed by you on the Site, money has been charged to your card or bank account and a Recharge is not delivered within 24 hours of your completion of the transaction then you may inform us by sending an email to our customer services email address mentioned in the Contact Us page. Please include in the email the following details – the mobile number (or DTH account number), operator name, Recharge value, Transaction date and Order Number. Muthoot Money shall investigate the incident and if it is found that money was indeed charged to your card or bank account without delivery of the Recharge then you will be refunded the money within 21 working days from the date of receipt of your email. All Refunds will be credited to your Semi Closed Wallet. You can trigger a request in your Muthoot Money Wallet to transfer the money from your Muthoot Money Wallet back to source. It will take 3-21 days for the money to show in your bank account depending on your bank’s policy.

Modification of this Agreement

Muthoot Money reserves the right to change, modify, add, or remove portions of this Agreement at any time by posting notification to the Site or otherwise communicating the notification to you. The changes will become effective, and shall be deemed accepted by you, 24 hours after the initial posting and shall apply immediately on a going-forward basis with respect to payment transactions initiated after the posting date. If you do not agree with any such modification, your sole and exclusive remedy is to terminate your use of the Services. For certain changes, Muthoot Money may be required under applicable law to give you advance notice, and Muthoot Money will comply with such requirements.

Wallet Charges & Validity

  • You shall pay the Service Charges prescribed by Muthoot Money in the form and manner prescribed for such payment. Muthoot Money may at its discretion, change, amend, increase, or reduce the Service Charges without prior intimation to the Customer.
  • Any value in your Muthoot Money Wallet that is utilized towards making payments for any Transaction shall be automatically debited from your Muthoot Money Wallet. Muthoot Money’s responsibility is limited to the debiting of your Muthoot Money Wallet and the subsequent payment to any Merchant Establishment that you might transact with. Muthoot Money does not endorse, promote, champion or warrant any goods and/or services that might be bought/availed or proposed to be bought/availed using Muthoot Money Wallet.
  • Muthoot Money reserves the right to levy charges/ charge commission upon any amounts loaded upon your Muthoot Money Wallet or any amounts spent/utilized by you using Muthoot Money Wallet.

Nature of transaction Charges
Loading Money into Wallet 1.5
Purchase at merchant site Nil
Wallet to wallet Transfer Nil
Wallet to Bank Transfer Nil

This charge is on the total amount being deducted and not on the amount being transferred

  • Muthoot Money reserves the right to set off any balance in your Wallet in order to recover funds for transactions processed as per your request.
  • Wallet Expiry and Balance Forfeiture
    • At present, Muthoot Money does not expire the wallet or forfeits the balance amount in Muthoot Money Wallet
    • Muthoot Money reserves the right to introduce a policy as per the applicable RBI guidelines for wallet expiration and balance forfeiture in future. The terms and conditions related to any such policy that we may introduce in the future will come into effect from the date that will be clearly indicated under the "Terms of Use" for Semi Closed Wallet.