Mudra Loan in Lucknow

Mudra Loan in Lucknow

The capital of Uttar Pradesh, Lucknow is an artistic and cultural hub, housing historical structures like Rumi Darwaza, Ambedkar Memorial Park, and Bada Imambara. While companies like Sony Corporation, Tata Consultancy Services, etc. boost the city’s urban population with employment opportunities, small businesses continue to promote the city’s notable GDP base.

Thriving amidst such a competitive marketplace of furniture, aeronautics and Chikan embroidery can be exceptionally tough for amateur enterprises. To prevent draining out their financial reservoirs, MUDRA loan in Lucknow comes as a saviour for potential entrepreneurs.

MUDRA Loan Schemes To Choose From

The Pradhan Mantri Mudra Yojana was introduced with an aim to support micro and small businesses with standard funding and bring them under the formal banking system. Entrepreneurs have an option to choose their preferred category of MUDRA finance Lucknow depending on their business requirements.

  • Shishu: Individuals planning to start out or operating businesses at the initial stages can opt for this option which offers credit up to Rs. 50,000.
  • Kishore: Developing enterprises can avail amounts above Rs. 50,000 extending up to Rs. 5 Lakhs with Kishore MUDRA loan Lucknow for easy purchase of additional equipment or machinery.
  • Tarun: The highest loan amount of up to Rs. 10 Lakhs is offered under this category which is extended to established business owners willing to expand their operations.

To avail a MUDRA loan in Lucknow under one of these categories, applicants need to tick off a specified set of parameters which have been discussed below.

Requirements For A MUDRA Loan Subsidy In Lucknow

Business owners need to match the following eligibility criteria for a successful MUDRA loan registration Lucknow.

  • Individuals must own businesses belonging to the non-corporate or non-farming category.
  • He/she must not be aged below 18 years.
  • Applicants need to possess skills and mastery required to carry out a suggested business plan.
  • They also need to carry a clean credit history with no record of default.

Additionally, the requirements for e MUDRA loan also involve submitting the following standard documents.

  • Identity proof
  • Address proof
  • Copy of business plan
  • Proof of business continuation
  • Bank statements for the previous 6 months
  • Proof of qualification
  • Income tax return documents audited by a CA
  • Completely filled-in form for particular MUDRA loan category
  • Specific form for the purpose of loan withdrawal

Such stringent eligibility and documentation for MUDRA loan in Lucknow overrun its advantages of being collateral-free and requiring negligible processing fees.

Major Downsides Of MUDRA Loan

Besides extensive documentation, MUDRA loan scheme Lucknow also comes with additional drawbacks which might not make it such an ideal borrowing option for all business owners.

  • Long Processing Time: A Pradhan Mantri small business loan can take up to 7-10 business days to process. Elaborate paperwork only adds to the delay in loan approval, which can be detrimental for entrepreneurs in need of emergency funding.
  • Insufficient Loan Amount: Business requirements exceeding Rs. 10 Lakhs cannot be sufficiently fulfilled with any of the types of MUDRA loan.
  • MSME Status: Businesses failing to conform to this category might not have any use with a MUDRA loan apply online

If you are among the people struggling to make it through these hassles of a MUDRA loan in Lucknow, it is high time you considered a gold loan. The latter saves you the burden of hard-and-fast requirements and offers a high loan amount at the same time. Additionally, these funds aren’t business-specific, and borrowers can utilise them for any other requirement.

Willing individuals can avail the additional benefit of choosing from a variety of loan schemes when opting for a gold loan from Rupeek.

Benefit Better With Rupeek Gold Loan

Other advantages of Rupeek gold loan over PM MUDRA loan include:

  • No Credit Check: Individuals with varying financial backgrounds can benefit from Rupeek gold loan since it does not demand repayment history or credit score check of any kind.
  • Affordable Rates Of Interest: Interest rates start at 0.49%, and individuals can check their available loan amounts using our 100% transparent gold loan calculator.
  • High Security: Rupeek, partnered with Brink, practises collateral transportation in a GPS-secured bag, and thereafter, ensures these are stored in secure vaults of partner banks within a 5-km radius of your residence. Gold items are also fully insured against theft or damage of any kind.
  • Instant Disbursal: Rupeek provides instant online gold loan at your doorstep post successful application and ensures speedy verification at your residence.

Additionally, applicants can also avail a prompt 30-minute disbursal on loan application from specific locations in Lucknow.

Gold Credit Line Facility

Probably the most alluring benefit offered by Rupeek is a gold overdraft loan facility titled Rupeek Quick, exclusive to its existing customers. Borrowers can utilise this facility to avail instant credit anytime and from anywhere through their in-app wallet by pledging additional gold. This scheme is especially beneficial for individuals looking for an affordable short-term loan since interest is calculated only on the amount withdrawn.

Reach Us In Lucknow

Enjoy Rupeek’s 30-minute doorstep service from the following areas in Lucknow.

  • Mohanlalganj
  • Jankipuram
  • Lucknow Chowk
  • Charbagh
  • Raibareli Rd
  • Mubarakpur
  • Cimap
  • Qaisar Bagh
  • Indira Nagar
  • Gomti Nagar
  • Alambagh

With Rupeek’s presence at these many locations, your search for “MUDRA loan office in Lucknow near me” ends with us. Choose Rupeek gold loan today to fulfil all your financing needs conveniently.

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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% 0.49%
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 do I apply for a MUDRA loan in Lucknow?

Apply for a MUDRA loan in a few simple steps. Download the form in your desired category or visit your nearest MUDRA loan providing branch. Next, fill in and submit the form with required documents and abide by other necessary procedures. Once approved, you can get the loan amount transferred to your account upon approval.

  1. What type of businesses can avail a MUDRA loan?

Non-farm and non-corporate businesses like textile, agriculture, service sector firms, vendors, small manufacturers, vehicle-drivers, and self-proprietors can successfully avail a MUDRA loan in Lucknow.

  1. Can I avail a loan against gold coins?

No, our lending partners currently sanction loans only against gold jewellery. Any other gold items like bars and coins are not accepted.

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