Mudra Loan in Kanyakumari

Prime Minister Mudra Yojana is a Government of India initiative introduced to offer formal credit known as MUDRA loans in Kanyakumari to micro and small units engaged in non-farming and non-corporate sectors. Some of the main features of MUDRA loan scheme Kanyakumari are as follows –

• There are three types of products available under MUDRA loan in Kanyakumari categorised according to stages of development and business financing needs. These are known as Shishu, Kishore and Tarun loans, respectively.
• Individuals can only avail up to Rs. 10 lakhs under MUDRA Mitra.
• Since it is an unsecured mode of credit, hence, collateral is not required.
• MUDRA Loan interest rate in Kanyakumari are to be decided as per the policy of the respective bank or MFI.
• The respective financial institute will decide the MUDRA loan amount based on the proposed business plan and investment.
• MUDRA loan cannot be used to meet any personal financing needs.

Candidates eligible to apply for a MUDRA loan in Kanyakumari include individuals, partnerships, private companies, and public ltd. etc. However, they need to meet the required eligibility conditions which includes the following –

• Minimum MUDRA loan age limit must be 18 years and maximum age must not be more than 65 years to avail MUDRA loan government scheme.
• Applicants should have a favourable credit history. MUDRA loan required CIBIL score should be 750 or above.
• They must have the required knowledge to operate the proposed business undertaking.

Applicants can avail a MUDRA loan in Kanyakumari to meet the following business needs –

• Commercial transport vehicles
• Working capital loans
• Loan for agriculture allied, non-farm business activity
• To purchase business equipment

Additionally, applicants also need to submit the following list of documents while applying for a PM MUDRA loan –

• KYC documents
• Business ownership documents
• Financial documents such as balance sheet
• Income tax return documents
• MUDRA application form

However, many small and micro units may be unable to provide such an extensive list of documents. Furthermore, getting approved for a MUDRA loan in Kanyakumari is also a time consuming process. In such a situation, individuals can go for instant financing options like gold loan. Moreover, they can also apply with leading Fintech companies like Rupeek to avail more perks and benefits.

Borrowers can avail the following perks on gold-backed advances by Rupeek –

• Low-Interest Rates

Applicants can avail affordable interest rates on gold loan which starts as low as 0.49%. It will enable them to meet one’s business needs without straining their budget. One can also use online tools like Rupeek gold loan calculator to check how much loan amount they can opt for based on their gold ornaments.

Apart from that, one can also check how much gold one should provide to avail the requisite loan amount using this calculator.

• Convenience In Repayment

According to their convenience, borrowers can opt for several repayment schemes when they apply for a Rupeek gold loan. For instance, individuals who own a business with irregular income can opt for the ‘no tension’ scheme. Under this scheme, they can pay off the loan amount as per their convenience.

• Loan Transfer

Borrowers looking to save on gold loan interest can consider a loan transfer to Rupeek. Ensure savings up to Rs. 12,377 per lakh on loan repayment. They can also avail other perks and better service terms on transferring their gold loan to Rupeek.

• Overdraft Facility

Individuals can also avail the benefits of Rupeek’s overdraft facilities called Rupeek Quick. With this facility, one can withdraw amount whenever required by pledging gold only once. Moreover, they only have to pay interest on the withdrawn amount.

One can opt for a Rupeek Gold loan at following locations in Kanyakumari –

• Nagercoil
• Marthandam
• Thuckalay
• Colachel
• Kulasekharam
• Kuzhithurai
• Pudukadai
• Tiruvattar
• Arumanai
• Manavalakurichi
• Thengapattanam

MUDRA loan in Kanyakumari is a convenient financing option for entrepreneurs to meet an array of business expenses. Nevertheless, its stringent loan terms often makes it challenging for individuals to avail such benefits. In this regard, gold loans offer a suitable alternative. Moreover, with Rupeek, borrowers can avail instant funds to meet all their business-related financing requirements.

So, instead of searching for ‘MUDRA loan lender near me’, apply with Rupeek to get instant online gold loan at their doorstep!