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MSME loan in Mumbai

Mumbai, the capital of Maharashtra, is India’s wealthiest city. It is also the only Alpha City in India, as per the Globalization and World Rankings Research Institute. The vibrant economy of Mumbai hosts an array of industries, ranging from IT to entertainment. Besides a prosperous economy, it is also home to several attractions like The Gateway of India, Juhu Beach, and Bandra-Worli Sea Link. 

People from all over the country come to the “city of dreams” to realise their aspirations. Its massive and diverse population offers entrepreneurs with a lucrative customer base, making Mumbai an ideal centre for opening or running an MSME/SME.

However, to give wings to their enterprises, individuals require adequate financial aid, for which they can avail an MSME loan/SME loan. But entrepreneurs ought to know its nitty-gritty before going for this SME financing in Mumbai.

What is MSME Loan?

It’s a means of financing small business owners, entrepreneurs, and other businesspersons of similar stature can avail to mitigate their short- and long-term business expenses. This particular financial product can be secured or unsecured, depending on the loan amount and lender.

People can avail an MSME loan in Mumbai through government schemes as well as from private banks and NBFCs. However, to access the funds, applicants must satisfy the specific eligibility criteria set by the lending institution.

Who is Qualified for an MSME/SME Loan?

An applicant needs to meet the following MSME/SME loan eligibility criteria to avail funds from banks and NBFCs –

  1. Business Type: Sole Proprietorship, Partnership, Limited Liability Company, a registered company, and trusts 
  2. Business Vintage: Any new and existing MSME/SME in operations for more than 6 months
  3. Documents: KYC, audited financial documents, proof of business ownership 
  4. Business Turnover: Micro units (up to Rs.5crore); Small units (up to Rs.75 crore); Medium units (up to Rs.250crore).
  5. Applicant’s Credit Score: 750+

MSME loan agents Mumbai approve an application only if an enterprise satisfies these criteria. New or small-scale enterprises, thus, struggle to acquire an MSME loan from lending institutions. Even government schemes require enterprises to produce audited financial documents, which budding MSME/SMEs often don’t maintain. Plus, the processing period of government-endorsed MSME loans can go up to several days, making it unsuitable for dealing with emergencies.

Nevertheless, to bypass these hassles and ensure speedy availability of funds, individuals can opt for a Rupeek gold loan that accompanies several borrower-friendly features. 

Why Rupeek Gold Loan over Traditional MSME/SME Loan?

An MSME loan against gold offers several advantages over a traditional SME financing option. Since it’s secured, the eligibility criteria are less rigid, and one needs to produce only a handful of documents. Hence, even budding enterprises can secure a gold-backed MSME loan/SME loan.

However, it’s wise to look for benefits offered beyond the standard features when searching for “MSME/SME loan lenders near me”. In this regard, one can consider Rupeek.

  • Highest LTV 

Borrowers get maximum value against their gold deposits with our offering of the highest LTV. We determine the loan amount based on a few essential parameters like quantity, quality and purity of the pledged gold. Applicants can use our online gold loan calculator for free to check the loan amount they’re eligible for or see the quantity of gold they need to pledge to secure their desired loan quantum. 

  • Flexible Repayment 

Even though we provide one of the highest LTV on gold loan, the interest rate of our gold loan starts from as low as 0.79% per month. Moreover, we have kept the repayment structure as flexible as possible so that more new and existing businesses owners can avail the credit without burdening their finances. 

For instance, borrowers can choose to repay a Rupeek gold loan whenever they want to or pay the entire amount at one go within the tenure. It also ensures that the borrowers have enough room for other financial liabilities after servicing a Rupeek gold loan.

  • Minimal Documentation 

Since Rupeek gold-backed MSME loan/SME loan is a secured financing option, borrowers only need to present KYC documents and rent agreement/utility bill. We also facilitate KYC verification at the comfort of the applicant’s home. 

  • Robust Gold Security 

Another concern that most people have before applying for a gold loan is the safety of their pledged gold. Rupeek thus adopts high-level security measures while collecting the gold from borrowers. 

The loan manager collects the gold from borrower’s home and places it in a GPS-enabled carry bag and deposits it to the nearest bank’s vault. The same process is repeated after the tenure ends. Moreover, to full-proof the safety procedure, we also offer complimentary insurance of the gold for the entire tenure. 

Nevertheless, borrowers who wish to maximise their benefits can also consider our gold overdraft facility.

What is a Gold Overdraft Facility?

Also known as Rupeek Quick, this facility allows individuals to pledge gold articles and secure a credit line against their value. Entrepreneurs can access funds from this sanctioned limit as and when they need to address a range of financial obligations. Additionally, they only need to make the interest payment for the amount withdrawn or utilised. It further ensures that borrows can save substantially with us. 

How to Get an MSME loan/SME Loan against Gold in Mumbai?

Availing a gold loan from Rupeek is not an overwhelming process as it constitutes only a few steps. These are –

Step 1: Visit the Rupeek website and enter your mobile number and click on “Apply Now”. 

Step 2: Once your application is submitted successfully, our representative will contact you in a short while. 

Step 3: The loan manager will visit your home within 30 minutes. 

Step 4: Upon e-KYC verification, you need to present the gold ornaments to be pledged. 

Step 5: Loan manager will determine the value of those ornaments using an ISI-certified appraisal kit. 

Step 6: You will receive the funds instantly after the pledged items have been evaluated. 

Step 7: The loan manager then will deposit the gold at the nearest bank’s vault. 

Meeting any emergency financial crisis in your enterprise becomes more manageable with us owing to our strong presence across Mumbai.

Rupeek Mumbai Location List

Here’s a list of the locations and sub-locations where we extend our services in and around Mumbai. 

  • Santacruz
  • Dharavi
  • Mumbai Central
  • Trombay
  • Bandra
  • Nagpada
  • Andheri
  • Lala Lajpat Rai Marg
  • Borivali
  • Chembur
  • Nariman Point 
  • Shivaji Park
  • Malabar Hill
  • Churchgate
  • Mumbai Central
  • Dadar
  • Malad

Alternatively, you can also find a Rupeek MSME loan/SME loan against gold through voice search. You will get the nearest Rupeek location within seconds. 

Thus, apply for a Rupeek gold loan now and take your small business a step ahead!

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Benefits of Gold Loan over MSME/SME loan.
Today's maximum loan value/gm **
max LTV

Last Updated :

Last Updated :

  • <1 lakh
  • 2 lakh
  • 3 lakh
  • 5 lakh
  • 10 lakh
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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 is the Rupeek gold-backed MSME loan eligibility?

You only have to pledge gold articles like gold jewellery of a minimum of 18 carats and have to submit KYC and some other relevant documents to be eligible for the funds. 

  1. Can I pledge gold bars to get MSME/SME loan from Rupeek?

No, we only accept gold jewellery to sanction an MSME loan currently.

  1. How can I transfer my existing gold loan to Rupeek?

Transfer your existing gold loan to Rupeek by submitting the existing pledge card and required documents. Pay the outstanding interest to the current lender and transfer your loan to Rupeek to save up to 12377/lakh on repayment.

  1. How much time does Rupeek gold-backed MSME loan apply online take?

One can apply for a Rupeek gold loan by merely visiting the website and entering their mobile number. The loan manager arrives within 30 minutes, and the entire process takes approximately 1 hour. 

  1. How to make part-payment of Rupeek gold loan used for MSME financing?

You can partially repay your Rupeek gold loan whenever you have a surplus. However, the amount should be more than the monthly interest payable and less than full loan-closure amount. 

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