Mudra Loan in Tirunelveli

The Government of India introduced MUDRA loans in 2015 offer financial support to micro-units in the non-farming and non-corporate sector to encourage growth and development.

There are three types of products offered under MUDRA Mitra or PMMY, which have been categorised according to business funding needs and growth stages. The types of MUDRA loan are as follows –

• Shishu – This covers loans up to Rs. 50,000. Businesses still in their initial stages can apply for Shishu loans under MUDRA Yojana Tirunelveli.
• Kishore – Businesses that require loans within Rs. 50,000 to Rs. Rs. 5 lakhs can apply for Kishore loans.
• Tarun – Established businesses looking to expand their business further can apply under Tarun loans within PMMY Tirunelveli to avail credit within Rs. 5 lakhs and Rs. 10 lakhs.

MUDRA loan distribution is mainly done through banks, NBFCs, MFIs, Co-operative banks etc. Hence, individuals looking for ‘Mudra Loan Lender near me’ can contact the nearest financial institution to avail this financial product.

However, applicants need to meet a few MUDRA loan eligibility conditions to qualify. These are as follows –

• They should possess the necessary skills or knowledge to run the proposed business.
• Applicants should have a favourable credit history and must not have defaulted on any payment to the bank.
• Minimum age of the applicant should be 18 years, and maximum age must not exceed 65 years.

However, under MUDRA loan in Tirunelveli, the maximum credit that an applicant can opt for is capped at Rs. 10 lakhs. Therefore, individuals who require a higher funding amount can consider other funding options like gold loans.

However, it is essential to select a reliable lender for a hassle-free borrowing experience. In this regard, Rupeek is a name to consider. With its industry-first features like doorstep services, paired with favourable repayment terms, Rupeek aims to offer a pleasant experience for customers.

Individuals who cannot qualify for a MUDRA loan in Tirunelveli can consider opting for a gold-backed loan from Rupeek. Here are some notable benefits that will be eligible for if they if they select Rupeek.

• Substantial Loan Amount

With Rupeek, borrowers can avail up to Rs. 1.5 crore owing to the higher per-gram rate offered by us. Customers can use the gold loan calculator available on our website to check per gram rate and the amount they can avail against the gold owned by them.

• Doorstep Services

With Rupeek, borrowers can avail instant online gold loan at their doorstep. A loan manager will arrive at the borrower’s residence within 30 minutes of loan application to complete the gold valuation and document verification.

• Overdraft Facility

Borrowers can also avail an array of benefits with Rupeek’s overdraft facility known as Rupeek Quick. For instance, this feature allows applicants to draw only the requisite amount at a time and pay interest on the same. This will enable them to save a substantial amount on interest payment.

Existing borrowers can also opt for an extended credit line with this facility by pledging additional gold.

• Several Repayment Options

Rupeek extends a number of repaym­­­­­­­­ent schemes that will enable borrowers to pay off the loan amount quickly. For instance, individuals with regular income can consider the standard EMI option to make monthly payments.

Individuals already servicing a gold loan with another lending institution can consider loan transfer to Rupeek to save more on interest payments.

For convenience, we also offer our gold loan services at several chief locations in Thiruvallur.

Rupeek extends its gold loan services at following locations in Thiruvallur –

• Avadi
• Thiruverkadu
• Periapalayam
• Tiruvelangadu
• Minjur
• Pattabiram
• Ponneri
• Tiruttani
• Kadambathur
• Uttukottai
• Poonamallee
• Pulicat

Therefore, instead of MUDRA loan in Tirunelveli, entrepreneurs and business owners can opt for gold loans to avail high loan amount. Moreover, with Rupeek they can avail an array of benefits that will make servicing and repaying a loan hassle-free.

Apply with Rupeek today at nominal documentation and get loans within 60 minutes!