Service Update- (Covid-19)
In accordance with the respective state government’s directive, we’ve resumed operations in all the cities. However, a few services will remain affected while others will continue as usual. To read about the services or moratorium updates, Click here covid19 FAQ page
Ahmedabad, ‘the Manchester of the East’, is one of the largest economic and industrial hubs of western India. This former capital of Gujrat carries a rich historical connotation of culture and heritage. Sabarmati Ashram, the Adalaj Stepwell, Kankaria Lake, and Jama Masjid are some of the famous tourist spots in Ahmedabad.
Moreover, its strategic location and proximity to Surat port have made this city one of the most promising trading centres of Gujarat. Besides large industries like textile, pharmaceutical, and chemical, several small and medium-scale enterprises are also present in this city. To compete with these large industries and for business expansion in Ahmedabad, small business owners often require MSME loan/SME loan.
Entrepreneurs can approach financial institutions directly for an MSME loan or opt for government schemes, such as PMEGP, Emergency Credit Line Guarantee Scheme, and CLSS Technology Upgradation.
However, one must ensure they satisfy the eligibility parameters before they go for MSME loan apply online.
As per the Micro, Small and Medium Enterprises Development Act (MSMED), 2006, the following criteria need to be met to qualify for different MSME schemes in India.
These are the revised parameters for MSMEs in Ahmedabad and India, allowing more numbers of organisations to benefit from government schemes. However, several stringencies entail a government-backed MSME loan/SME loan, like an extended processing period.
MSME loans in Ahmedabad that banks and NBFCs offer are quicker. But, eligibility requirements are more rigid. It includes –
As is evident, it might be challenging for any new organisation to avail an SME loan in Ahmedabad. Plus, the need for audited financial documents poses a further difficulty.
Moreover, the interest rate of an MSME loan can go up to 21% and above, depending on the borrower’s credit profile.
In such cases, a gold loan can be an excellent alternative to an MSME loan. It offers nearly all the combined advantages of government-backed MSME loans and stable finances offered by banks and NBFCs but sans their hassle.
Study the following table to differentiate between two loan products.
Points of Comparison |
MSME Loan |
Gold Loan |
Documentation |
· ID Proof · Address Proof · Financial Documents · Business certificates and registrations · Memorandum of Associations (MoA), Sales Deed, Copies of License, etc. |
KYC documents address proof |
CIBIL Score |
750 and above |
Not Required |
Eligibility parameters |
· Business type · Business vintage · Investments · Annual Turnover |
An applicant shall be above 18 years of age |
Loan Processing Time |
Within 24 hours |
Within 1 hour |
The above table substantiates the advantages of availing a gold loan over a conventional SME finance Ahmedabad. Moreover, one can maximise these benefits ten-fold by opting for a Rupeek gold loan. Individuals can also use Rupeek gold loan calculator to get an estimation of how much gold they need to pledge against the required loan amount.
Following are some of the features of Rupeek gold loan that keeps this product ahead of an MSME/SME loan in Ahmedabad.
Moreover, people who wish to maximise the benefits of a Rupeek gold loan can also opt for a gold overdraft facility, Rupeek Quick. It allows borrowers to get instant funds for any financial emergency.
This facility allows existing Rupeek borrowers to avail an extended credit line on top of their active gold loan. Since this fund is availed on an existing loan, individuals do not have to submit any additional document. All they have to do is pledge some extra gold and the amount will be credited to their wallet instantly. Due to this straightforward disbursal process, people can apply for this fund to address any short-term, emergency financial necessity.
Moreover, borrowers can utilise the credit directly from the wallet or transfer the amount to their bank account. In either way, the interest is levied only on the amount utilised or withdrawn. Resultantly, the borrower will get some relief on interest payment.
Besides these benefits, entrepreneurs can also enjoy doorstep loan service with Rupeek. With our representatives dotted across the geography of Ahmedabad, businesspersons can finally put an end to their ‘MSME loan/SME loan provider near me’ searches.
We are currently operating in all these places in Ahmedabad. Check out the list to avail our doorstep gold loan in 30 minutes.
Bolster your enterprise’s financial health with an MSME loan/SME loan against gold today with Rupeek.
Apply now to get a Rupeek gold loan and enjoy attractive deals!
Last Updated :
Last Updated :
We offer MSME loan subsidy on regular repayment. You are eligible for a higher rebate if you pay instalments more frequently.
Yes, you can avail a gold loan from Rupeek alongside any other loan.
Rupeek accepts gold ornaments with purity ranging between 18K and 24K. However, we do not accept other types of gold articles, like bars, coins, etc.
The tenure of a Rupeek gold loan ranges up to 6 months. However, one can re-pledge the gold items if they wish to extend this tenure.
Your request has been received, our customer relationship manager has been notified and will call you shortly