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Mudra Loan in Ghaziabad
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Mudra loans in Ghaziabad

Ghaziabad is one of the fastest-growing cities in India. Established in 1740, this city witnessed rapid economic growth in the post-independence era, and its inclusion to the Delhi NCR region also propelled its rise.

Currently, Ghaziabad is known for its manufacturing and service sector. In recent years, the real estate sector has also bloomed into prominence here. Its proximity to the national capital has prompted several businesses to set up shop in this city, and the introduction of MUDRA loan in Ghaziabad has also helped their cause.

What Is A MUDRA Loan In Ghaziabad?

The Government of India introduced the MUDRA loan government scheme in 2015 to provide small and medium businesses with the necessary financial support. Under this scheme, there are three categories, based on the stage a business is in.

  • Under Shishu MUDRA loan Ghaziabad, firms that are staring their operations can avail fund of up to Rs.50,000.
  • The Kishore MUDRA loan Ghaziabadprovide necessary financial support to help businesses to expand their operations. Entrepreneurs can avail up to Rs. 5 lakhs as a Kishore loan.
  • Lastly, the Tarun MUDRA loan Ghaziabadis purpose-built for established businesses. Here the loan amount is capped at Rs. 10 lakhs.

The borrower-friendly features of PM MUDRA Yojana loan such as lack of collateral help business owners to get the needed funds easily. However, the stringent eligibility criteria and small loan amount paired with a lengthy application process can complicate borrowing.

Entrepreneurs can consider a gold loan as a substitute to circumvent the hassles of a MUDRA loan in Ghaziabad.

What Are The Differences Between A MUDRA Loan And Gold Loans?

Here is the difference between NBFC MUDRA loans and gold loans –

Parameters

Gold loans

MUDRA loan

Eligibility

Minimal, applicants must be 18 years of age to avail a gold loan.

Need applicants to own a business which comes under the SME or MSME category.

Applicant must have a clear repayment history as well and the necessary skill and knowledge to undertake proposed plans.

Documentation

Only KYC

Bank statement, business documents, Balance Sheet, business plan, etc.

Approval time

Typically, a couple of hours

3 - 4 working days or more

Loan amount

Depends on the gold articles’ purity and weight and also applicable LTV

Up to Rs. 10 lakhs

Business type

Any business type

Micro, small and medium businesses, but non-corporate and non-farm

Therefore, it is fair to say that gold loans are a better financing option than MUDRA finance Ghaziabad in certain cases. Thus, you can conclude your search for ‘MUDRA loan providers near me’ .

However, it is imperative to opt for a reliable lending institution to have a pleasant borrowing experience. In this regard, one can select Rupeek, owing to its series of customer-friendly benefits.

What Are The Features Of Rupeek To Look Out For?

Take a look at the many benefits that businesspersons can enjoy with our gold loan –

  1. Overdraft Facility

Termed as Rupeek Quick, this facility enables existing customers to pledge more gold and get additional funds. They receive this money in a credit line format, which allows them to access the fund according to their convenience. Moreover, with Rupeek Quick, borrowers are only responsible for paying interest on the amount they use, not their entire credit line.

  1. Robust Security Measures

At Rupeek, we follow the best-in-class security measures to ensure optimum safety of your gold articles. Our loan managers use GPS-fitted bags to carry gold items to and from a customer’s house, and we use high-security vaults to store them.

Moreover, we provide complimentary gold insurance coverage during the repayment period. Also, we perform a regular security audit to eliminate any loopholes in our system.

  1. Easy Balance Transfer Facility

We also offer a loan transfer facility to help individuals save a substantial amount on loan repayments. Borrowers can save up to Rs.12377 per lakh by sharing their existing pledge card with our representatives.

  1. Repayment Flexibility

To ease the repayment burden on entrepreneurs, we have curated the ‘no tension’ plan. It can help borrowers to pay as per their convenience. Otherwise, they can always opt for an EMI repayment plan.

  1. Affordable Gold Loan

With Rupeek’s low-interest rate and high per-gram rate, individuals can now have a more affordable borrowing experience. They can avail funds up to Rs.1.5 crore against an interest rate starting from 0.79% per month. Ergo, individuals can save more on their interest payment.

To complement the affordability, Rupeek has also introduced industry-first doorstep services. It allows customers to get an instant online gold loan without leaving the comfort of their home. It is possible due to Rupeek’s strong presence in Ghaziabad.

Ghaziabad Localities Where Rupeek Is Operational

  • Crossings Republik
  • Loni
  • Mohan Nagar
  • Meerut Road
  • Indirapuram
  • Kaushambi
  • Govindpuram
  • Kavi Nagar
  • Raj Nagar Extension
  • Shastri Nagar
  • Sahibabad
  • Tronica City
  • Vasundhra
  • Vaishali

MUDRA loan in Ghaziabad presents an easy way to avail funds for SME and MSME business owners. A gold loan, however, also offers similar features, alongside additional benefits like no end-use restriction, nominal processing time, etc. With Rupeek, these benefits increase manifold, allowing individuals to make the most of their gold ornaments.

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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. How to get a MUDRA debit card?

To get a MUDRA debit card, you need to apply for the same first. Once your loan application is approved, the money will be credited to your bank account, and you will receive a debit card against it. You can use these payment cards to withdraw funds as per your need.

  1. What is unique about MUDRA Yojana for women?

This Yojana is specially designed for women businesspersons. Here they can avail funds against a lower interest rate, and easier loan terms. The aim here is to promote female entrepreneurship.

  1. What is the CIBIL score required to get a gold loan from Rupeek?

Your CIBIL score is not a vital part of your eligibility for a gold loan. You can get a gold loan from Rupeek even with a low score.

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