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Mudra Loan in Ahmedabad
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Mudra loans in Ahmedabad

Located on the banks of Sabarmati River, Ahmedabad is the largest and former capital of Gujarat. The heavy production of cotton has earned Ahmedabad the status of ‘Manchester of the East. Emerging as an important industrial hub in India, the city dominates the textile, garments, and pharma sectors.

 Apart from the large-scale industries, the small, micro, and medium industries have also seen rapid growth in recent years. These MSMEs can consider availing a MUDRA loan in Ahmedabad to foster growth and compete with large corporates.

Overview Of PMMY Ahmedabad

Pradhan Mantri MUDRA Yojana (PMMY) provides loans up to 10 lakhs to non-corporate, non-farm companies. The scheme works with the objective ‘to fund the unfunded’ business entities referring to micro business as well as promote entrepreneurs across the country. The refinancing scheme, MUDRA, is offered to banks, NBFCs and micro-financing institutions.

About MUDRA Loans

Under PMMY, Micro Units Development and Refinance Agency (MUDRA) provides refinancing facilities to Banks/MFIs/NBFCs for offering credit facilities to micro-units with loan requirement up to 10 lakhs and takes guarantees for the MUDRA loans provided under PMMY.

Under PMMY, MUDRA offers 3 unique products/loan schemes signifying the development stages of a business and a reference point for the next phase of the same. These are discussed below.

  • Shishu loan: Offers loan amount up to Rs. 50000 to start-ups and new businesses.
  • Kishore loan: Offers loan amount from Rs. 50001 to 500000 to purchase equipment/machinery, raw materials, expand an existing business.
  • Tarun loan: Offers loan amount from Rs. 500001 to 1000000 to established businesses and enterprises.

Individuals/business entities can avail MUDRA finance in Ahmedabad from commercial banks, RRBs, corporative banks, small finance banks, NBFCs, MFIs as per their financial need within Rs. 10 lakhs.

MUDRA Loan Eligibility And Documentation

To avail the benefits offered under MUDRA loan in Ahmedabad, borrowers must fulfil the eligibility criteria mentioned below:

  • Age of the applicant must be between 18-65 years.
  • Applicants must possess good repayment history with no previous default record.
  • Financial requirements shall be within Rs. 10 lakhs.
  • Individuals, start-ups, small business owners, micro-units, MSMEs can apply.
  • Traders, artisans, manufacturers, retailers can apply.

Once applicants pass the required eligibility criteria, they need to submit certain key documents to initiate the loan approval process. The documents required for MUDRA loan in Ahmedabad may vary based on the lender. However, the following is mentioned a list of documents that financial documents generally demand from an eligible applicant.

MUDRA

Loan

Documents

1.

Self-written business plans.

2.

Filled application form with mention to particular category Shishu MUDRA Loan Ahmedabad, Kishor loan or Tarun loan.

3.

Passport-sized photographs (the required number may vary from lender to lender) of the applicant or co-applicant (if any)

4.

Identity proof (Aadhaar card/Voter’s ID card/ Passport/ Driving License)

5.

Residence proof (Aadhaar card/Voter’s ID card/ Passport/Utility bills)

6.

Income proof with financial documents such as ITR, Sales Tax return, license, Registration (if any)

7.

Caste certificate (if applicable)

8.

Business address and tenure (if applicable)

The initiative of the Government of India to promote entrepreneurs across the country and provide financial support to micro-units, MSMEs has been a boon to eligible applicants. However, in cases where entrepreneurs or small business units cannot provide the extensive slew of documents, high chances of loan disapproval persist. 

Also, the processing time of MUDRA loan (7-10 working days) creates hindrances in getting quick funding during an urgency. In such cases, individuals/entrepreneurs/ businesspersons can select gold loan as a substitute because of the hassle-free procedure and faster processing time.

Gold Loan Vs MUDRA Loan

During an urgent cash requirement, an individual can utilise the monetary value of gold with a gold loan. As these loans are secured, financial institutions neither impose strict eligibility criteria nor demand a vast number of documents. Hence, unlike MUDRA loan, borrowers can quickly get access (within a few hours) to the loan amount without any hassle.

Moreover, the shorter loan quantum of gold loans (4-6months) enables borrowers to quickly repay the loan amount rather than drag it for several years as in case of MUDRA loans in Ahmedabad (up to 7 years).

The multitudinous benefits of gold loans act as the best financial solution during a liquidity crisis. In this regard, businesspersons of Ahmedabad looking for quick funding through gold can trust our financial services at Rupeek without any second thought.

Reasons For Availing Gold Loan From Rupeek

Rupeek offers a plethora of financial services. These are solely designed with the aim of helping individuals/entrepreneurs/businesspersons run their business efficiently with affordable financing support.

Following are a few reasons for availing a gold loan from Rupeek.

  1. Doorstep Services

Unlike Kishor MUDRA Loan in Ahmedabad, where individuals need to prepare business plans, visit banks, submit documents and wait further to complete the procedure, we offer instant doorstep gold loan services. Individuals can get access up to Rs. 1.5 crores from their home’s comfort.

To be precise, once a borrower applies for a loan with us, our gold loan executive reaches to the client-specified location within 30 minutes and completes all the formalities in there. The gold loan executive leaves after the loan amount is transferred to the client’s account.

  1. Faster Processing Time

To ensure each individual/business entity get quick financing support during urgency, Rupeek offers the fastest gold loan services. Contrary to Tarun MUDRA loan in Ahmedabad, the minimised documentation of Rupeek including only verifying the KYC documents hastens the gold loan process.

In short, from document verification to gold appraisal, an individual can get access to a gold loan for business purposes within 45-60 minutes with Rupeek.

  1. Highest Per Gram Rate

At Rupeek, we offer the highest per gram rate for gold. Individuals/entrepreneurs/business persons can easily evaluate the loan amount beforehand, with our free, consumer-friendly gold loan calculator.

With this advanced loan calculator, individuals can estimate the gold weight required for a specific loan amount or obtainable loan amount against certain gold weight.

  1. Easy Repayment

To make the gold loan experience more consumer-friendly and convenient, Rupeek provides easy repayment options. It means individuals/entrepreneurs/businesspersons can opt for monthly payments, or they can choose to pay any time within the tenure as per their convenience.

Apart from the above-mentioned financial services, we, at Rupeek, offer a unique service that makes us stand out from the rest of the crowd.

To know about this facility continue reading.

Credit Line Against Gold

The gold credit line, which is also known as ‘Rupeek Quick’ helps borrowers to secure a credit line. Opposed to a MUDRA loan in Ahmedabad that restrict cash withdrawal after a certain amount, this gold credit line proves beneficial, particularly for businesspersons. To be precise, during urgent and cash requirement, this facility enables businesspersons to withdraw cash as per their requirement from the overdraft limit and meet their business obligations accordingly.

Moreover, by availing this credit line facility, borrowers can save a substantial amount as they pay interest only on the expended amount from that credit limit and not on the entire loan amount.

So you can stop searching for ‘MUDRA loan providers near me’ and instead avail the best gold loan in Ahmedabad from Rupeek. We have extended our financial services to all the major locations here.

Rupeek’s Availability In Ahmedabad

To get quick doorstep funding up to Rs. 1.5 crores in Ahmedabad, find us in the following locations.

  • Navrangpura
  • Asarwa
  • Chandkheda
  • Manek chowk
  • Khadia
  • Maninagar
  • Sabarmati
  • Vastrapur
  • Naroda
  • Bapunagar
  • Lal Darwaja
  • Bopal
  • CTM Char Rasta
  • Satellite road

A MUDRA loan in Ahmedabad brings many benefits to small- and micro-scale enterprises. However, its shortcomings, like limited credit extended, lengthy documentation, and rigid eligibility criteria, are also glaring. Businesspersons can opt for our gold loan as an alternative to make financing simpler.

Click apply now and enjoy easy and affordable gold loan services from Rupeek.

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Benefits of Gold Loan over Mudra Loan.
  • <1 lakh
  • 2 lakh
  • 3 lakh
  • 5 lakh
  • 10 lakh
  • 20 lakh
Comparision Parameters Mudra Loan Gold Loan
Interest Rate 2.39% 0.79%
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 process of calculating the gold loan interest rate?

It differs across lending institutions. That’s why it is imperative to learn about the interest rate and its calculation in detail before taking out a gold loan.

  1. Can I take a MUDRA loan for beekeeping?

The MUDRA scheme provides for non-farming sectors. Therefore, you can obtain a MUDRA loan in Ahmedabad for beekeeping. But, you must possess the required skills.

  1. What is a MUDRA card?

It is a debit card issued by the RuPay platform under the MUDRA scheme. It allows businesspersons to address their working capital requirements. 

  1. What is the repayment procedure of Rupeek?

With Rupeek’s gold loan repayment portal or app, individuals can easily repay the loan amount. One needs to log in with an OTP sent to the registered mobile phone number to initiate the process. After viewing the profile, one can complete the gold loan repayments.

  1. Can I opt for part release?

Yes, you can opt for part release. However, borrowers must remember that the individual jewels that one wishes to part release must weigh approximately 10 grams or above.

  1. Can I repledge my existing gold loan?

If an individual is willing to continue an existing loan and repledge the valuables, they are required to contact the customer support team. The team will connect to the individual for completing the process.

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