Business Loan in Trivandrum

Trivandrum, known as the ‘Evergreen City of India,’ is the capital of Kerala. The state’s most populous city, Trivandrum, consists of major IT and ITES hubs in India and is responsible for a massive portion of software exports. With a stronghold in the Information Technology, plantation, education, commerce, and tourism, Trivandrum is the fastest growing district in Kerala and accounts for a high percentage of Kerala’s GDP growth.

Moreover, the city has witnessed rapid growth and increased investment in sectors like real-estate, retail, and infrastructure in recent years. That is why the surge in applications for business loans has also heightened over the years in Trivandrum. 

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Features of a Business loan

The features of a business loan are discussed below:

  • Collateral-free: Business loans are unsecured, meaning borrowers need not provide any personal or business asset as a collateral.
  • Interest Rate: Business loan interest rate is higher due to the unsecured nature of these loans. The credit score of a borrower also determines the business loan interest rates.
  • Eligibility Criteria: Before availing a business loan, borrowers must fulfil the eligibility criteria. Nearly all business loan providers in Trivandrum stringently check the business type, vintage, and annual turnover of the business. Banks and NBFCs hold the CIBIL Score as a deciding factor as this reflects the borrower’s credit history and credibility.
  • Documentation: While applying for a business loan, borrowers must provide a list of documents, including KYC documents, Income tax return files, bank statements of previous months, audited income statements and balance sheets, ITR proof, etc. The documentation of business loans is lengthy because of extensive scrutiny.
  • Processing Time: The processing of a business loan generally takes 3-7 days due to the hefty documentation and other factors.

During emergency cash requirements, such a lengthy process might not be conducive to its efficient mitigation. Also, entrepreneurs who wish to start their own business often struggle to convince banks and NBFCs to get the approval of a business loan as they lack the CIBIL Score.

These are a few reasons why a traditional loan for business in Trivandrum is losing its importance and popularity, and gold-backed business loans are making their way as an alternative.

Gold-backed Business Loan as an Alternative to Business Loans

As gold loans are secured, borrowers need not go through the stringent eligibility criteria or lengthy documentation. They can get access to the funds immediately to continue their business operations.

Below is a brief discussion of the benefits of gold-backed business loans in Trivandrum.

  • Quick Disbursal: Gold-backed business loans enable businesspersons to get quick funding as the documentation is minimal, and the entire process is hassle-free compared to traditional business loans.
  • No-end Use Restriction: Gold-backed business loan providers do not monitor the end-use, which provides borrowers with the flexibility of using the fund as per their requirements.
  • Secured Loan Type: Since gold-backed business loans are secured, banks and NBFCs approve the loan at the earliest. Also, it reduces the total cost of the borrowing amount due to its secured nature.

Due to the availability of various business loan providers in Kerala, borrowers must choose wisely the right lending partner as per their requirement and after careful analysis of terms and conditions, repayment procedure, etc. Our lending facilities at Rupeek can prove to be very helpful for people looking for quick funds for a business.

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Advantages of a Gold-backed Business Loan from Rupeek

Borrowers who are looking for a gold-backed small business loan in Trivandrum are assured of getting the following advantages from Rupeek.

  • Instant Disbursal: From applying for a loan to getting approval, we take only 45-60 minutes to complete the entire procedure. Thus, borrowers can enjoy instant funding during cash shortfall or frequent cash requirements.

  • Doorstep Service: To make the process of availing a loan in Trivandrum hassle-free and secure, we offer doorstep instant loans. Thus, borrowers need not carry their valuables outside and risk it.
  • Low Interest Rate: We offer the lowest interest rates to ensure the minimum cost of borrowing. Our interest rate starts at 0.49% per month, making the total payable amount much less compared to that of other banks or NBFCs.

  • High LTV: Loan to value ratio or LTV is the amount you get against gold as collateral. We offer the highest per gram rate or LTV up to 80%. Business owners can use the gold loan calculator to evaluate the sum they will be getting as a borrowed amount.

  • Minimal Documentation: Only KYC documents and utility bills or rental agreements are required as identity and address proof to avail a gold-backed business loan from Rupeek. The minimal documentation makes the entire process less time-consuming and easier.
  • Flexible Repayment: With us, borrowers can enjoy flexible repayment as per their convenience. They can pay the due amount in fixed EMIs on a monthly basis or as per their cash flow anytime within the tenure.
  • Gold overdraft: One of the attractive features of our lending facility is Rupeek Quick. Through this overdraft facility, borrowers can get an extended credit line by pledging their gold. Moreover, borrowers get the added advantage of paying interest amount only on the utilised money, which helps them enhance their savings.

Borrowers looking for ‘gold-backed loan providers near me’ in Trivandrum can avail our services instantly, courtesy of our presence across all the top localities in the city.

Rupeek’s Availability in Trivandrum

We provide services in the following locations in Trivandrum:

  • Kazhakkoottam
  • Peyad
  • Poojapura
  • Vattiyoorkavu
  • Peroorkada
  • Janardhanapuram
  • Kallambalam
  • Pachalloor
  • Karaivattom
  • M G Road

With several multinational technological companies, IT hubs, and flourishing real estate, infrastructure, and retail industries, Trivandrum is home to many possibilities for businesspersons. That’s why business owners must be smart with their financing. A gold-backed business loan in Trivandrum from Rupeek can be beneficial in this regard. Apply today and take a step closer to your dreams!

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Frequently asked questions

  1. Does Rupeek accept all gold items while providing a gold loan for business?

No. Rupeek does not accept items like gold bars and coins. Only gold jewellery of quality level above 18 carats is accepted.

  1. What are the processes of applying for a gold loan for business in Trivandrum with Rupeek?

At first, request a loan from the Rupeek website by clicking on the “Apply now” option or entering your phone number. Complete the KYC documentation and gold valuation process at your home with the loan manager. After that, get the money transferred to your account.

  1. Who are Rupeek’s gold-backed business loan lending partners?

Rupeek is associated with leading banks. The lending partners of Rupeek are Federal Bank, Karur Vysya Bank, and ICICI Bank.

  1. What are the minimum and maximum gold-backed business loan amounts I can get from Rupeek?

The minimum and maximum gold-backed business loan amounts are Rs.15000 and 1.5 crore, respectively.

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