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MSME loan in Vadodara

Vadodara, or commonly known as Baroda, is an industrial hub of Gujrat. Baroda, on the banks of Vishwamitri River, is well connected via every mode of transport with the rest of the state and the country. Also, the infrastructure and the government’s efforts have brought about positive economic changes.

Vadodara currently houses several large-scale organisations like Indian Oil Corporation, Reliance Industries Limited, L&T, Gujarat State Fertilizer and Chemicals, and Bank of Baroda. Along with this, Baroda also supplies the lion’s share of power and electrical equipment in India.

The presence of large scale industries and positive government reforms have increased the businesses opportunities in and around the city. Along with that, the MSME loan/SME loan products offered by financial institutions have also helped budding ventures to spread their wings.

Realise Your Business Dreams With SME Loans

Financial Institutions offers this financial product to micro small and medium businesses. Since there are no restrictions on the usage of funds in case of an MSME loan, it can support an array of expenses. Here are some common ones –

  1. Supplement working capital
  2. Meet seasonal demand
  3. Expand or undertake major projects
  4. Buy or upgrade equipment, machinery and plant

MSME Loan Eligibility Criteria

Here are the necessary eligibility requirements that one needs to fulfil to avail an MSME loan –

  1. Credit Score: 750+
  2. Business Vintage: Minimum 2 years (preferred by banks and NBFCs); 6 months – 1 year (necessary for availing funds via government schemes)
  3. Annual Turnover: No set limit, but changes according to the lender
  4. Type of Business: Individual, Partnership, LLC, etc.

Following the fulfilment of these requirements, entrepreneurs need to submit the following documents as well.

Sl. No.

Document Type

Required Documents

1

Identity proof

Aadhar card, PAN card, Voter ID, Passport

2

Address proof

Utility bills, rent agreement, ration card

3

Income proof

Profit and loss statement, ITR details, sales tax details

4

Business documents

Balance sheet, (if any), future business plans with revenue projections, audited Profit & Loss statement

Besides this, entrepreneurs should also consider the processing period and interest rates when searching for ‘MSME loan/SME loan provider near me’. Usually, this period can be between 3 – 7 days if one’s opting for a bank loan in Baroda. However, it can stretch up to more than 8 days if it’s a government-backed scheme.

Interest rates charged by private financiers are usually high, ranging up to 21%. A government-backed loan, conversely, costs less to the borrowers.

If none of these MSME loan details bode well with an entrepreneur, however, they can opt for a gold loan as an alternative, and bypass all these hassles.

Gold Loans – A Substitute To MSME Loan/SME Loan In Vadodara

Since gold loans are a secured mode of financing, the associated eligibility norms are lenient, and documentation is far less extensive. Additionally, the customer-friendly features of this financial product help entrepreneurs further.

Here are some notable features of gold loans –

  1. Restriction Free Usage: Resultantly, individuals can use the funds for an array of different expenses. Besides their obvious business expenses, they can manage their financial requirements as well.
  2. Low Cost: Since it is a secured mode of financing, the rate of interest here is relatively low compared to traditional MSME loan for new business.
  3. Quick Approval: Owing to the short documentation process, gold loans get approved quicker than traditional MSME finance. Typically, borrowers can get access to necessary funds within a few hours.

Nevertheless, to have hassle-free and pleasant borrowing experience, one must select a reliable lender. In this regard, Rupeek is a trusted name to consider. One of the leading fintech companies of India, Rupeek has curated various plans to cater to enterprises with varied financial capacities. Along with that, industry-first doorstep service and strong security measures make Rupeek a default choice for many.

Reasons To Select Rupeek

Here are some customer-friendly features of Rupeek borrowers should know of –

  1. Overdraft Facility

Known as Rupeek Quick, this facility allows our existing customers to pledge more gold for an extended credit line. Thus, individuals can withdraw funds as per their needs. This facility is especially beneficial for business owners, as they can now meet any essential business expenses without delay. Moreover, they need to pay interest only on the amount they withdraw, not on the entire credit line.

  1. Low Rate of Interest

Compared to our competitors, we offer one of the lowest rates of interest in the market. It starts from as low as 0.79% per month, making interest repayment more affordable.

  1. High Per-Gram Rate

To complement our low-interest rate, we also offer industry-leading per gram rates. It helps our customers to avail a sizeable MSME loan/SME loan against their gold articles. With Rupeek, one can avail up to Rs.1.5 crores.

Moreover, one can use the gold loan calculator to gain a better understanding of the loan amount they can get against their valuables.

  1. Flexible Repayment Plans

To make loan repayments more affordable, we have introduced several repayment plans. Our customers can select from regular EMIs, one-time bullet payment scheme, or they can pay instalments as per their convenience.

  1. Easy Balance Transfer Facility

We have also introduced a loan transfer facility to help our customers further. They can opt for this facility by sharing their existing pledge card, and save up to Rs.12,377 per lakh on loan repayments.

The benefits of selecting Rupeek the lending partner is further enhanced by the doorstep services. Our presence in different areas of Vadodara allows us to cater to all your financial needs within 60 minutes.

Places of Vadodara Where Rupeek Has Presence

Places of Vadodara Where Rupeek Has Presence

  • Alkapuri
  • Dabhoi
  • Khanderao Market
  • Padra
  • Karelibaug
  • Waghodia Road
  • Manjusar
  • Por
  • Manjalpur
  • Makarpura
  • Navlakhi
  • Bajwa
  • Bodeli
  • Ajwa Road
  • Akota
  • Savli

An MSME loan/SME loan helps business owners to realise their dreams, but the associated norms may prove to be a hurdle at times. To circumvent these obstacles, individuals can opt for an MSME loan offered by us. Our 30-minute doorstep service allows customers to avail an emergency business loan without any delay.

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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
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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. How to pay my Rupeek MSME loan online?

Via our online payment portal. Use the OTP sent to your mobile number to log in, view the account summary and pay accordingly.

  1. How to close my MSME business loan against gold from Rupeek?

To close your existing SME loan with Rupeek, visit the ‘Repay your Loan’ page. Once you log in, find the ‘Close Loan’ option. It will display the loan closure summary. Repay the payable amount to close the loan.

  1. Can I part prepay my MSME loan against gold?

Yes, there is a part payment facility available with gold loans from Rupeek. You can find the option in the ‘Repay your Loan’ page.

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