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MSME loan in Rajahmundry

Rajahmundry, the birthplace of Telugu language, is located on eastern banks of the Godavari River in Andhra Pradesh. The city is a quintessence of art, ethnicity, convention and memoirs of history.

The city is the East Godavari district’s primary commercial hub with floriculture enjoying particular prominence here. Entrepreneurs and young businesspersons looking to grow and establish their business can opt for an MSME loan/SME loan in Rajahmundry.

What Is An MSME Loan?

As the name suggests, it’s a financing option particularly designed for MSME/SME units. Borrowers can spend the funds for buying equipment and machinery, enhancing cash flow, expanding business, etc.

It’s available through government schemes as well as offered by commercial banks. Many NBFC’s also provide easy business loans in Rajahmundry against minimum documentation.

Individuals looking for low-cost borrowing can opt for government schemes. However, these schemes are not conducive for urgent financial requirements. To that end, a bank loan or credit offered by NBFCs can be suitable.

But, MSME loan eligibility criteria set by banks and NBFCs are usually hard to meet for new and small enterprises. Plus, the interest rates are higher.

To avoid these inconveniences, entrepreneurs can choose a gold loan instead of searching for ‘best SME loan provider near me’. A gold loan combines the best of both government-schemes and business finance loans in Rajahmundry.

Why Is Gold Loan Better Than MSME Loans?

Here are some reasons why a gold loan has an advantage over MSME loans in East Godavari –

  • Optimal Use Of Gold’s Value

Gold ornaments and other items carry immense value but have very less practical value. Entrepreneurs can utilise the gold articles in their possession to acquire substantial funding against those with this financing option.

  • Minimal Eligibility And Documentation

Since a gold loan is a secured credit, the eligibility and documentation are minimal as compared to an MSME loan/SME loan. Resultantly, this credit product cuts short the lengthy process of loan approval and reduces the processing time significantly.

But, surely, these benefits aren’t enough to edge out competitors. To that end, Rupeek’s industry-first features can prove to be beneficial.

What Makes Rupeek’s Gold Loan The Best?

Let’s take a look at some of the key features of a gold loan offered by Rupeek –

  1. Substantial Loan Amount

We offer one of the highest per gram value of gold. People can avail a gold-backed MSME loan/SME loan of up to Rs.1.5 crores. Moreover, they can also use an online gold loan calculator to estimate how much gold they need to pledge to get their desired loan amount.

  1. Infallible Gold Security

We ensure the highest security of the pledged gold ornaments. Our loan manager carries the gold items in a GPS-traceable carry bag from borrower’s house to the nearest partner bank vault. Our gold-backed MSME loan procedure is a matter of 30 minutes.

  1. Gold Overdraft Facility

We offer a gold overdraft facility to existing Rupeek customers. This facility is also known as Rupeek Quick. Borrowers can avail an extended credit line by pledging more gold and access from it 24x7. What’s more, interest is calculated on the expended sum only.

  1. Doorstep Services

Unlike a conventional MSME loan in Rajahmundry, borrowers can get an online gold loan at their doorstep from Rupeek. Once, an individual makes a loan request to Rupeek; our loan manager reaches to his/her place within 30 mins.

Apart from these features, a borrower can enjoy a low-interest rate of 0.79%, which is way affordable than small business loan rates in Rajahmundry.

Places To Find Rupeek Gold-Backed MSME Loan In Rajahmundry

You can locate us in the following places in Rajahmundry and request to avail a Rupeek gold-backed MSME loan/SME loan.

  • Maredumilli
  • Rampachodavaram
  • Draksharamam
  • Danavaipeta
  • Lakshmi Puram
  • Kadiyam
  • Mandapeta
  • Ramachandrapuram
  • Konthamuru
  • Korukonda

Thus, any new or existing firms in Rajahmundry that falls under the category of MSME/SME can avail a Rupeek gold loan.

They can replenish their working capital or mitigate any financial requirement with our MSME loan scheme 2020. Since we have a flexible repayment structure; borrowers can choose the option that suits the best their monetary profile.

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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 repayment options featured by Rupeek?

The borrower can either repay the MSME loan/SME loan amount monthly or pay the entire amount at once anytime within the tenure.

  1. Is CIBIL score necessary for SME loan against gold?

No, a credit/CIBIL score is not a mandatory criterion to be eligible for a gold loan.

  1. Which bank is best for MSME in East Godavari?

The best bank should ideally offer flexibility in repayment, a high loan value, and charge a low interest rate. The eligibility criteria and documents required shall also be nominal, and the bank should ensure a quick disbursal.

  1. What is the quality of gold accepted by Rupeek for an MSME loan?

We accept all gold ornaments of purity level ranging between 18 carats and 24 carats.

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