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MSME loan in Karimnagar

Karimnagar, the fourth largest city in the state of Telangana, is renowned for several historical sites like Nagunur Fort, Dharmapuri, Kondagattu, Kaleshwaram, Vemulawada etc. that attract a lot of tourists every year.

Apart from that, this district is also known for its numerous agro and granite-based industries. Thus, individuals looking to set up a business in these sectors can avail the necessary funds by opting for an MSME loan/SME loan.

MSME loans

Financial institutions offer customised funding options to firms and enterprises so that they can meet their business costs easily. These MSME loans are mostly unsecured by nature and usually accompany high MSME interest rate, stringent eligibility parameters and documentation procedure. Consequently, most businesses are unable to avail these types of loans.

Apart from private financial institutions, the Government of India also offers popular small business loans under various schemes -

· Credit Link Capital Subsidy Scheme

· National Small Industries Corporation Subsidy

· Credit Guarantee Fund Government Business Loan Scheme

· Pradhan Mantri Mudra Yojana

· SIDBI Make in India Soft Loan Fund for MSMEs

While MSME loans under these schemes come at affordable interest rates, enterprises need to meet an array of eligibility parameters and carry out a lot of paperwork to avail the same. Therefore, businesses looking for instant funding at competitive interest rates can consider opting for gold-backed funds.

Why Is A Gold Loan A Better Option Than MSME Loan?

Some of the main advantages of Gold-backed loans over a conventional MSME loan/SME loan have been discussed below –

  • Credit History Not Required

In case of unsecured MSME loans, lending institutions check a borrower’s repayment history to determine the risk associated with them. A financial institution may reject an individual’s loan application or charge high interest rates if he or she has high credit risk.

However, in case of gold loan, the loan amount is secured against gold, which is a highly liquid asset. Consequently, credit score or repayment history is not essential for gold-backed business loans in Karimnagar.

  • Quick Processing

Since most MSME loans are unsecured, lenders specify eligibility parameters such as high credit score, business vintage of three years, positive turnover etc. Apart from that, borrowers are also required to submit an extensive list of documents such as business plan, audited financial documents, proof of business ownership, etc. Financial institutions approve a loan amount only after verifying that all documents are in order.

Even after approval, lenders take around 2-3 working days to disburse the loan amount to borrowers.

On the other hand, gold loans are secured credit and, therefore, require nominal documentation and eligibility parameters. As such, the application is processed quickly, and the amount is disbursed to borrowers within a short time. Nevertheless, borrowers should go through the handy guide to the documents required for a gold loan before opting for one.

Entrepreneurs can enjoy a range of other benefits with us, like doorstep service, lowest rates of interest, multiple repayment schemes, etc.

Why Choose Rupeek’s Gold Loan In Karimnagar?

Borrowers can enjoy the following added benefits when they opt for a gold loan service with Rupeek –

  • Doorstep Loan –

You can avail an instant online gold loan at your doorsteps when you apply with Rupeek. Within 30 minutes of applying online, a loan manager will arrive at the borrower’s location to carry out document verification and gold valuation. The entire process from application to disbursal will take only 60 minutes.

  • Gold Overdraft

Rupeek extends a gold overdraft facility to borrowers, called Rupeek Quick, which will enable borrowers to save a significant amount on interest payment. It is because with this facility, one can withdraw only the required amount from the sanctioned credit limit and pay interest on the same.

  • Optimum Security

When applying for an MSME project loan against gold, borrowers can rest assured about their valuable’s safety. We follow the below-mentioned protocols –

  1. Gold assets are insured for the overall repayment tenure
  2. The ornaments are collected directly from the borrower’s residence and deposited in a GPS-enabled bag. Thus, you can track your valuables through your phone to check whether they have reached the correct destination.
  3. The jewellery will be kept at a military-grade vault within the radius of 5 miles of the borrower’s location.
  • Affordable Interest

With Rupeek, borrowers can avail a substantial MSME loan/SME loan amount at affordable rates starting from 0.79% per month. It will enable them to meet all their business needs with ease.

However, borrowers may use a Rupeek calculator to check the amount that they can qualify for before applying. Rupeek also has an extensive network in Karimnagar, thus, allowing individuals to apply for a loan from anywhere in this district.

Opt For Our Services Here

Rupeek offers its gold loan services in the following locations –

  • Choppadandi
  • Manakondur
  • Kothapalli
  • Gangadhara
  • Ramadugu
  • Ramnagar
  • Elgandal
  • Thotapalli
  • Jawaharnagar
  • Pullur
  • Mukharampura
  • Jammikunta

Thus, existing businesses in Karimnagar can opt for a gold-backed MSME loan/SME loan to instantly secure necessary funds. Get funds at your doorstep within 30 minutes with us.

Apply for a Rupeek Gold loan today with nominal documents!

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Benefits of Gold Loan over MSME/SME loan.
  • <1 lakh
  • 2 lakh
  • 3 lakh
  • 5 lakh
  • 10 lakh
  • 20 lakh
Comparision Parameters MSME / SME Loan Gold loan
Interest Rate 2.39% .79%
Monthly Interest Amount
Eligibility & Documentation More Documents Needed Only KYC Needed
Processing Time & Disbursement 2 days to 1 week Within a day
Required Gold Weight -
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Frequently asked questions

  1. What are the different gold repayment schemes offered by Rupeek?

Rupeek offers customised gold loan schemes for borrowers to reduce the strain of repayment. For instance, you can either pay instalments at your convenience during the tenure or pay EMIs.

  1. Can I avail an MSME loan/SME loan by pledging any gold item?

No, currently Rupeek only offers loan against gold ornaments.

  1. How to get MSME loan against gold with Rupeek?

Borrowers can avail a gold loan with Rupeek through a call, via mobile application or the official website. After applying, a loan manager will arrive at the borrower’s location for KYC verification and gold valuation. If everything goes satisfactorily, then the amount will be disbursed immediately.

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