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Mudra Loan in Kochi
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Mudra loans in Kochi

Previously known as Cochin, Kochi is a major port city situated along the Malabar Coast in the south-western part of India. This city is characterised by a quaint cosmopolitan culture and is home to various tourist attractions such as the Andhakaranazhi Beach and the Athirapally falls.

Aside from being rich in art and culture, this city possesses a strong economy which prioritises the development of the business sector. Some of Kochi’s major industries include shipbuilding, Information Technology, retail, chemical industries and more.

Therefore, individuals interested in starting their own business have ample scope to carve out a niche in any industries mentioned above. However, if you lack the financial means to start your own venture, opting for a MUDRA loan in Kochi can be an effective solution.

Before applying, they need to get an insight into the features of this credit product in detail.

Features Of MUDRA Loan

MUDRA loans under PMMY Kochi have the following features:

  • This form of financial assistance is offered to both new and existing enterprises.
  • There are 3 types of MUDRA Loan- Shishu, Kishore and Tarun.
  • The main purpose of these loans is to fulfil the financial requirements of non-farm and non-corporate micro and small-scale enterprises.
  • Under the Pradhan Mantri MUDRA Yojana, Businesspersons can avail a loan of up to Rs. 10,00,000.
  • The Pradhan Mantri small business loan is an unsecured form of credit; borrowers are not required to pledge any collateral to avail financial assistance.
  • MUDRA loans are available with repayment tenures of up to 7 years. The tenure and interest rate vary from one financial institution to another.

However, individuals also have to furnish a list of documents to meet the eligibility for the same.

Documents Required For MUDRA Loan

To avail a MUDRA loan in Kochi, applicants need to furnish the following documents:

  • 2 passport size photographs
  • Proof of Identity issued by the government such as Aadhaar card and Voter ID card
  • Proof of business ownership such as Trade License, Partnership Deed (in case of partnership firms).
  • A self-written business plan
  • Duly signed NBFC MUDRA loan application form.
  • Government-issued residential proof like Driving License and Valid Passport
  • Bank account statement of the last 6 months
  • Last 2 years’ Income Tax Return

The rigorous documentation and stringent eligibility criteria can often pose a challenge for most businesspersons in Kochi. Many budding entrepreneurs and small-scale business owners often fail to fulfil the requirements of availing a MUDRA loan.

Nevertheless, in such situations, a gold loan has become an ideal solution to finance various business expenses. If you’re not eligible for a MUDRA loan for restaurant, the gold ornaments sitting idle in your local can bail you out without any hassle.

Rupeek Gold Loan – A Better Alternative To MUDRA Loan

Compared with a MUDRA loan in Kochi, Rupeek Gold Loan has flexible eligibility criteria and involves minimal documentation. Here are some of its features:

  • Doorstep Service

Apply for a gold loan from the comfort of your home with Rupeek. Our authorised loan manager will reach your location within 30 minutes to complete the formalities such as KYC and gold valuation before loan disbursal.

  • Lowest Interest Rates

Rupeek gold loan is characteristic of one of the lowest interest rate. It starts at 0.79% p.m. However, please note that these rates may slightly vary depending upon your location and choice of scheme.

  • Fast Loan Disbursal

Post successful completion of the formalities, the approved loan amount will be disbursed into your bank account immediately. The complete loan processing takes 45 to 60 minutes.

  • Only KYC Required

To avail a gold loan with us, you only need to submit your KYC documents along with a lease agreement or utility bill. Individuals are not required to submit income documents such as ITRs or bank account statements.

  • No End-use Restrictions

Unlike an E MUDRA Loan, a gold loan doesn’t have end-use restrictions. You can utilise the sanctioned loan amount to fulfil all types of financial requirements.

  • Overdraft Facility

In addition to a conventional gold loan, we also offer an overdraft facility known as Rupeek Quick. Individuals can access funds from the sanctioned credit line round the clock and pay interest only on the sum they have utilised.

Rupeek’s Availability In Kochi

Residents of the following areas can avail a MUDRA Loan in Kochi:

  • Aluva
  • Willingdon Island
  • Kakkanad
  • Airport Road
  • Kumbalangi
  • Muvattupuzha
  • Tripunithura
  • Infoparkkochi
  • Kalamassery
  • Perumbavoor
  • Mattancherry
  • Palarivattom

You can now conclude your search for the best ‘MUDRA loan provider near me’. Consider taking a gold loan instead of a MUDRA loan in Kochi and accelerate the growth of your business. Turn your dreams into reality by raising funds to kick-start your entrepreneurship.

Apply for a gold loan with Rupeek today and take your business a step ahead!

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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 MUDRA Loan interest rate in Kochi?

There is no fixed interest rate when it comes to a MUDRA loan. The rates usually vary depending upon the financial institution as well as the borrower’s credit repayment history.

  1. How to avail a gold loan with Rupeek?

To avail a gold loan with us, you need to place a request for Rupeek gold loan via our app or website. Once you successfully place a request, our authorised executive will reach your location at the scheduled time to value your gold and complete the KYC process. Following the successful completion of these formalities, the loan amount will be disbursed into your account instantly.

  1. What are the limits in MUDRA loans?

 In case of MUDRA loans, the loan amount sanctioned is based on three categories - Shishu (up to Rs. 50,000), Kishore (between Rs. 50,000 and Rs. 5,00,000) and Tarun (between Rs. 5,00,000 and Rs. 10,00,000). Hence the maximum limit for a MUDRA loan in Kochi is Rs. 10,00,000.

  1. What is the maximum and minimum limit of availing Rupeek gold loan?

The maximum loan amount that can be sanctioned is Rs. 1.5 crores; whereas, the minimum amount of loan one can avail is Rs. 15,000.

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