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.
MUDRA loans under PMMY Kochi have the following features:
However, individuals also have to furnish a list of documents to meet the eligibility for the same.
To avail a MUDRA loan in Kochi, applicants need to furnish the following documents:
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.
Compared with a MUDRA loan in Kochi, Rupeek Gold Loan has flexible eligibility criteria and involves minimal documentation. Here are some of its features:
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.
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.
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.
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.
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.
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.
Residents of the following areas can avail a MUDRA Loan in Kochi:
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!
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.
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.
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.
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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