Coimbatore, the second-largest city in Coimbatore, is situated on the Noyyal river banks and surrounded by the Western Ghats. It is one of the largest cities of India and houses the famous Adiyogi Shiva Statue. Along with that, Gass Forest Museum, Maruthamalai Temple, etc. are some notable places to visit in Kovai.
Alongside tourism, Coimbatore is a textile hub, and well-known as the ‘Manchester of South India’. Besides textile, software and automotive parts are also two prominent industries of this city.
Coimbatore is one of the fastest-growing cities of this country, with an abundance of business opportunities. SMEs and MSMEs can capitalise on these opportunities with a MUDRA loan in Coimbatore.
The government of India introduced MUDRA loan in 2015 to help small and medium business owners set up and expand their ventures. This scheme is available for every Indian, but one must comply with MUDRA loan eligibility. Here are the details –
Along with fulfilling the eligibility terms, one needs to submit the following documents as well to complete the application process of MUDRA loan in Coimbatore –
Once these documents are ready, one can quickly apply for the Pradhan Mantri small business loan.
Step 1: Fill out the MUDRA application form. One can either download it online or visit their nearest lender to get it.
Step 2: Submit the necessary documents.
Step 3: Following verification of the documents and approval of the business plan, applicants will receive their money.
Note that the disbursal process might take more than a week because of the range of documents involved.
Here are the different sub-types of a MUDRA loan –
The borrower-friendly features of a MUDRA loan in Coimbatore, like low processing fee, and collateral-free nature make it an excellent financing proposition for entrepreneurs.
On the contrary, its stringent eligibility criteria, a lengthy approval process, and limited loan amount can limit a business’s financial efficiency. In such instances, business owners look for alternative financing options, and gold loans can be a potent option.
Gold loans fare better on various points when compared to the MUDRA scheme. It offers better features that can aid a borrower in need. Here are some notable features of gold loans that one must know –
The features of a gold loan make it a better alternative when compared to PMMY Coimbatore. Hence, instead of looking for ‘MUDRA loan providers near me’, opt for a gold loan.
Nevertheless, it is essential to select a trustworthy lender for a pleasant borrowing experience. In this regard, Rupeek is a name to consider. The nationwide presence and industry-first features offered by Rupeek like doorstep services aim to enhance the customer experience.
Rupeek has cemented its place as a leading gold loan provider of India. The long list of features that Rupeek offers focuses on customer convenience, and the company is committed to improving on it.
Here are some notable ones –
An entrepreneur always looks for instant access to funds to manage their essential business expenses. To fulfil such demands, Rupeek has introduced an overdraft facility. Termed as Rupeek Quick, it allows customers to pledge more gold and avail a credit line against it.
Moreover, this credit line facility allows borrowers to withdraw funds at their will. They are only responsible for paying interest on the amount they use, not the entire line of credit.
The eligibility criteria for Rupeek gold loans require an applicant to be over 18 years and possess gold jewellery. Also, they must have valid KYC documents.
Moreover, we have introduced a loan transfer facility that is straightforward and helps customers to save substantially. They can opt for this service by sharing their existing pledge card.
The interest rate charged by Rupeek starts from as low as 0.79% per month, which makes interest repayment easy. Moreover, owing to the high per-gram rate, borrowers can now avail up to Rs. 1.5 crores. Borrowers can use the gold loan calculator available on our website to find the eligible loan amount.
At Rupeek, we have introduced more than one repayment option to make it more accessible for our customers. Borrowers now have the opportunity to select their preferred repayment scheme and pay as per their convenience.
To ensure the safety of gold ornaments, we have introduced robust security measures. It includes –
Furthermore, our doorstep services help our customers to get funds at their doorstep. Owing to a strong presence in Coimbatore, we can respond to a loan request quickly and reach an applicant’s house in just 30 minutes.
Albeit the many benefits of a MUDRA loan in Coimbatore, the time-consuming processing period, end-use restriction, and low loan amount makes it unsuitable for specific business needs. Gold loans offer a suitable substitute. They provide better loan terms, and with lenders like Rupeek, one can get an instant online gold loan at the doorstep.
Call Rupeek today for quick and affordable business financing solutions.
There are no offices for MUDRA loan in Coimbatore. This facility is available through banks and various registered NBFCs in this city.
There is no subsidy as such on a MUDRA loan in Coimbatore. But, the applicable interest rate is lower compared to that of regular business loans.
It is a tailor-made financial plan to encourage women business owners, and give them necessary funding to manage their business. Under this plan, the interest rate is comparatively lower, and it is available against more favourable loan terms.
It is one of the many loan repayment options offered by Rupeek. Under this plan, you can pay your total loan amount, i.e. interest and principal in a single instalment.
You can use the online payment portal of Rupeek to make payments. You will find the account summary and payment options after you log in to your Rupeek account.
The credit score is not an essential eligibility criterion for a gold loan. You can get a gold loan without a CIBIL score.
You can quickly do so via Rupeek’s official website by registering your mobile number. A company representative will guide you through the remaining process after that.
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