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Vijayawada

MSME loan in Vijayawada

Tucked beside the river Krishna, Vijayawada is predominantly known for its sacred temples like Sri Durga Malleswara temple, Kanaka Durga Ammavari Temple and others. Besides, Vijayawada is also considered as the commercial capital of Andhra Pradesh.

It is home to several large and small-scale industries like construction, food, education, and processing. Several MSME/SMEs have also mushroomed in Vijayawada over the years. These companies can avail an MSME loan/SME loan to address the various financial challenges they come across.

However, before applying, it is imperative to learn acbout how to get an MSME loan and its usages.

How To Avail MSME Project Loan?

Typically, small business owners can opt for several government-backed new loan schemes for MSME. Following are some of them.

  • PM MUDRA Yojana
  • Credit Linked Capital Subsidy Scheme
  • Emergency Credit Line Guarantee Scheme for
  • Prime Minister Employment Generation Programme

While these government schemes offer loans to MSME with a lower interest rate, it takes a long time for the fund to come through.

As an alternative, MSMEs can opt for NBFCs or privatised banks to get the funds. One can view all the local financial institutions offering this financing option by searching for ‘MSME loan lenders near me’.

But, the eligibility criteria are stringent primarily due to the risk associated with an unsecured MSME loan/SME loan. Moreover, the interest rate is on the higher side because of the same reason.

In such a scenario, business owners can make use of their gold’s equity to acquire necessary funds for their enterprise. A gold loan is a viable alternative to an MSME loan in Vijayawada for several reasons –

  • Cost of borrowing is lower compared to an unsecured business loan
  • Processing time is much faster because documents required are minimal
  • The loan amount can be considerable
  • It comes with no usage limitation
  • Applicants with a low CIBIL score can also opt for gold-backed MSME loan apply

These are the elementary advantages of a gold loan offered by most lenders. But, to ensure optimal benefits and deft financial management, entrepreneurs can consider Rupeek.

What Makes Rupeek Gold Loan Best for MSMEs?

While several gold loan agents are currently operational in India, Rupeek stands out in the crowd for the following reasons.

  • Gold Overdraft Facility

We let our existing customers maximise the benefits of a Rupeek gold loan through an overdraft facility. By pledging additional gold, they can take out a line of credit and utilise the same without any restriction.

Due to its prompt approval and disbursal, one can avail this facility called Rupeek Quick for any short-term financial urgency. Moreover, they need to pay interest on the expended amount only.

  • Repayment Flexibility

Rupeek gold loan borrowers can choose a repayment scheme that suits them best. There are currently two schemes available. They can choose to pay whenever they have sufficient funds within the tenure. Alternatively, borrowers can opt for EMIs.

  • Instant Doorstep Service

Rupeek’s growing popularity can also be attributed to its streamlined instant loan processing structure. Interested borrowers only have to go to Rupeek site and request for a new loan scheme for MSME against gold by entering their mobile number. Soon after, our representative will contact them for details. Within the next 30 minutes, loan manager will reach the borrower’s residence and initiate the loan processing.

Starting from gold appraisal to loan disbursal, it takes approximately 45 to 60 minutes. Moreover, there is no waiting period for Rupeek gold loan. It also means that they can start using the funds as soon as funds are credited to their account.

  • Sizeable MSME Loan/SME Loan

Among other gold loan lenders, Rupeek offers one of the highest per gram. Borrowers can get credit up to Rs.1.5 crore by pledging sufficient gold.

Furthermore, they also can take help of a gold loan calculator that shows the day’s gold rate. All they have to do is enter the desired loan amount and then select the gold Karat, and it will show how much gold is required to pledge.

  • Competitive Interest Rate

The interest rate on Rupeek’s gold-backed MSME loan starts from 0.79% per month. Thus, borrowers can service this MSME debt financing variant without straining their finances.

Rupeek is currently operational across all the major locations in Vijayawada. Entrepreneurs can check out the list of locations from where they can avail our services.

Vijayawada Locality List – Avail Rupeek’s MSME Loan/SME Loan

If you happen to be in Vijayawada, you can contact us and avail our doorstep gold loan services from the following areas.

  1. Gannavaram
  2. Vuyyuru
  3. Bhavanipuram
  4. Ibrahimpatnam
  5. Kondapalli
  6. Gollapudi
  7. Satyanarayanapuram
  8. Ramavarappadu
  9. Nandigama
  10. Nidamanuru
  11. Kanchikacharla
  12. Autonagar
  13. Kankipadu
  14. Mylavaram

Businesspersons who are looking to strengthen their financial footing can consider our gold loan as it comes with a high value, low interest rate, and flexible repayment terms. It can also be availed alongside the MSME loan scheme 2020.

Apply now for Rupeek Gold Loan and double your business turnover with right investment!

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Benefits of Gold Loan over MSME/SME loan.
max LTV

We offer the highest per gram rate on our gold loans.

Today’s max loan value/gm () **

Today’s max loan value/gm ()
**
  • <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. Where can I get MSME loan in Vijayawada?

You can avail loan through several government schemes from any commercial &nationalised banks and RRBs. Banks, NBFCs, and fintech companies directly extend financial assistance to MSMEs as well.

  1. Are MSMEs eligible for MUDRA loan?

The Government of India launched Pradhan Mantri Micro Units Development and Refinance Agency Ltd. (MUDRA) primarily to extend financial aids to SMEs and MSMEs of India.

  1. What are the things to consider before opting for a gold-backed MSME loan?

You must consider a few vital factors before you apply for an MSME loan against gold. These include LTV, interest rates, tenure, repayment structure, gold security, and additional charges that lenders may levy from time to time.

  1. Can I get an MSME loan against a gold bracelet?

Yes, you can get a Rupeek gold loan by pledging a gold bracelet.

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