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Business loans in Delhi

Delhi is one of the most promising business hubs in India with a GSDP (Gross State Domestic Product) of worth Rs.8.56 trillion in between 2019-20, as per IBEF. The strategic position and rich cultural history make Delhi NCR a significant hotspot for prime economic activities, foreign investments, and tourism. 

Additionally, the Central Government has undertaken several initiatives to promote the skilled workforce of this Union Territory, providing for a favourable and conducive environment for business development. Resultantly, this factor has fostered noteworthy competition in the region. Thereby, it has become imperative for aspiring as well as the existing business-owners to avail a business loan in Delhi with feasible terms of service to withstand the competition. 

Nevertheless, before borrowing such credit, individuals also need to have a clear idea about their benefits and distinct features in detail. 

Features of Business Loans in Delhi

Several banks and NBFCs in Delhi offer business loans that cater to the varying needs of enterprises. For instance, start-up business loans allow entrepreneurs to borrow funds for their working capital requirements and to carry out other business operations. 

Regardless of the type, the following are some of the key features of a business loan in Delhi.

  • Collateral-free Loan

Business loans are primarily unsecured, meaning borrowers do not have to pledge any collateral against the credit. Depending on the eligibility, individuals can get a loan worth up to Rs.50 lakh to mitigate their business needs. 

  • Repayment

Such loans come with repayment tenure of up to 5 years, making it affordable for all kinds of business owners. The business loan interest rate, however,varies from lender to lender and depends on the borrower’s eligibility. 

Nevertheless, individuals can use a business loan calculator to get an overall idea about the EMIs and other aspects of servicing a business loan. 

  • Loan Processing

Since traditional business loans are unsecured, the documentation and verification processes might be time-consuming. Lenders assess individual applications on several points, including a thorough investigation into credit score and history.

Nevertheless, prospective borrowers can opt for an online business loan to cut the hassles of visiting a lender’s office over and over again. 

However, the overall procedure, from application to disbursal of such credit might take 3 – 7 days, depending on the financial institution.

  • Interest Rate and Other Charges 

Individuals can apply for different types of credits for businesses in Delhi, such as abusiness loan for women, start-up loans and so on. However, irrespective of the types, the borrowers need to compare the business loan interest rate and other applicable charges to make an informed decision. 

The interest rate generally varies between 9% and 24% for commercial loans. On top of that, people need to pay other charges like processing fee and like ones. 

What are Business Loan Eligibility Criteria?

Prospective borrowers must satisfy strict eligibility criteria before they can apply for an unsecured business loan. Most lenders check the credit score, repayment history, business vintage, turnover, etc. thoroughly to ascertain an applicant’s credibility and how likely they are to repay timely. 

Such a process gets even more complicated when one opts for new business loans without any credit history. 

Following are some of the essential documents that one needs to submit to avail abusiness loan in Delhi. 

  • ID proof (PAN card, Aadhaar card, Voter ID, Driving license, etc.)
  • Address proof (Ration card, electricity bills, telephone bills, etc.)
  • Audited income statements
  • Bank account statements of the last 6 months 
  • Proof of the ownership of the business 
  • IT documents 

Moreover, the document checklist can get extended further in case one is planning to avail government business loans. If individuals cannot fulfil all the prerequisites of availing a business loan, they can still borrow required funds for their business venture by opting for a gold loan from Rupeek. 

Why A Rupeek Gold Loan is an Excellent Alternative?

People looking for a business loan in Delhi can alternatively opt for Rupeek gold loan and borrow a substantial amount for their business. 

Following are some of the advantages of agold loan from Rupeek.

  • Highest per gram value of gold 
  • The interest rate starts from as low as 0.79%
  • Only a handful of documents required for a gold loan
  • Partner with top Indian banks like ICICI Bank, Federal Bank and others.
  • Flexible repayment options 
  • The pledged gold will be secured in the nearest bank vault. 
  • Complimentary insurance of the gold. 

Hence, any business owner with sufficient gold can avail such a loan to mitigate their financial requirements. Prospective borrowers can also use the virtual Rupeek gold loan calculator to check how much amount they can borrow as well as the repayable amount instantly.

How to Get Gold Loan from Rupeek?

Following isa step-by-step process to avail a Rupeekbusiness loan in Delhi against gold:

  • Visit the official website of Rupeek and click on “apply now” tab to request a gold loan. 
  • A Rupeek representative will contact you shortly.
  • The authorised person will come to a place of your convenience and complete the KYC process.
  • The loan manager will value the gold and provide you with a pledge card. 
  • Immediately, the loan amount will be credited to your account before the loan manager leaves. 
  • The loan manager will deposit your gold safely in a bank vault at the nearest lending partner’s branch.
  • You will get a confirmation message as soon as the gold is deposited. 

The simple doorstep process makes Rupeek gold loan a great alternative to business loan in Delhi. However, applying for a fresh loan can be time-consuming and counterproductive for businesses frequently in need of immediate cash. Individuals can consider Rupeek’s gold credit line to address such financial concerns.

Get Instant Gold Loan with Rupeek Quick

Rupeek introduces a hassle-free facility called Rupeek Quick that allows borrowers to avail a credit line by pledging gold once. On evaluating the gold, the amount will be credited to your mobile wallet that you can transfer to your bank account any time you want. 

Moreover, you only need to pay the interest on the amount withdrawn or utilised. Thus Rupeek Quick can prove to be a great saviour during a financial emergency in your business.

Top Localities We Operate in Delhi

Here’s a list of the major localities in Delhi where you can avail Rupeek’s doorstep loan services

  • Tilak Marg
  • JNU Ring Road
  • Chandni Chowk
  • Connaught Place
  • Justice SB Marg
  • Moti Bagh
  • Karol Bagh
  • Hauz Khas
  • Nehru Place
  • Maidan Garhi
  • Anand Vihar
  • Sansad Marg
  • Pusa
  • Najafgarh

Access to a variety of financing options is essential for businesses to grow in the backdrop of an increasingly competitive Delhi market. With Rupeek’s services available across all prime localities in India, this task becomes convenient beyond measure and searches for business loan near me no longer necessary.

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Business Gold Loan Calculator

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Frequently asked questions

1. How much business loan can I get?

The loan amount will depend primarily on your eligibility and also the lender you are approaching. You can avail up to Rs.50 lakh as an unsecured business loan. However, you need to maintain a credit score of 750 or above to get an unsecured business loan in Delhi

2. Which is the best bank to avail a business loan? 

Almost all banks and NBFCs in Delhi offer business loans of high value and easy repayment structure. Nevertheless, you should compare the business loan interest rates and terms offered by different lenders before making a decision.

3. What is a gold loan for business? 

Business owners can pledge their goldjewelleryto avail a loan against their equity. We also offer facilities like Rupeek Quick that extends a line of credit, which businesses can use to access funds any time. 

4. How safe is Rupeek for a business loan against gold?

Rupeek offers door-to-door gold loan service over multiple locations in Delhi. Also, the pledged gold items are stored by us at a secure vault at any of our partner bank branches within a radius of 5 km from your residence.

6. How long does it take to process a Rupeek gold loan for business?

After the KYC verification and sign of loan agreement, Rupeek gold loan disbursal takes as less as 30 minutes.

7. Can I use Rupeek gold loan only for business?

You can use aRupeek gold loan for any financial requirement without any restriction.

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