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Mudra Loan in Trivandrum
mudra-loan-in-Trivandrum

Mudra loans in Trivandrum

Trivandrum, the capital of Kerala, is situated on the west coast in India along the Arabian Sea. Officially known as Thiruvanthapuram, it is an epitome of art and culture. Aside from having various scenic destinations, it also features a picturesque urban charm. This city is home to many famous temples such as the Sri Padmabhaswamy and the Attukal Bhagavathy.

Over the years, the mineral processing, textiles and handicraft industries have been instrumental in the overall growth of the state's economy. This city also houses the offices of some of the leading technology companies such as Oracle, Infosys, TCS and more. Moreover, with the advent of government initiatives such as MUDRA loan in Trivandrum, there has been a considerable rise in the number of micro and small scale enterprises.

If you're an aspiring business person requiring funds urgently to start your own retail business, opting for a MUDRA loan can be an option worth considering. Additionally, business owners can also avail this form of financial assistance to accelerate the growth of an existing enterprise. Let's delve into the Pradhan Mantri MUDRA Yojana details.

Different Types Of MUDRA Loans

MUDRA loans are segregated into the following categories based on the financial requirements of micro and small scale enterprises:

  • Shishu: This category under the PMMY scheme is ideal for micro-enterprises. Business owners can avail a loan amount of up to Rs. 50,000.
  • Kishor: Kishor MUDRA Loan in Trivandrum is an appropriate option for small scale businesses. This category enables individuals to apply for loans ranging from Rs. 50,000 to Rs. 5,00,000.
  • Tarun: This category caters to the requirements of existing enterprises which require additional funds to expand operations. Business owners can avail loans of up to Rs. 5,00,000 to Rs. 10,00,000.

MUDRA Loan Eligibility

Applicants must fulfil the eligibility criteria given below to avail a PM MUDRA loan:

  • Age of an applicant must be between 18 to 65 years.
  • The applicant must be a citizen of India and must have no criminal records.
  • Applicants must have a satisfactory credit repayment history; there should not be any history of loan default.
  • The business of an applicant must be involved in non-farming, income generating activities.
  • The loan amount sanctioned is based on the income of the applicant.

Documents Required For MUDRA Loan

Individuals need to submit the following documents to avail a MUDRA loan in Trivandrum:

  • Two passport size photographs
  • MUDRA application form (signed by the applicant).
  • Business plan (self-written by the applicant).
  • Proof of Identity such as Voter ID, Aadhaar card and more.
  • Proof of address, in the form of a Government issued document, such as Passport, Driving License and more.
  • Income proof like ITR of the previous financial year or bank account statements of the past 6 months.
  • Proof of ownership of the enterprise, such as partnership deed, for a partnership business or Articles of Association for companies.
  • Relevant documents in case an applicant belongs to SC/ST or OBC category.

As one can infer from above, meeting the stringent eligibility criteria can be a challenge for most individuals. Moreover, the documentation process can also be quite tedious. If you’re a businessperson who is unable to avail a MUDRA loan in Trivandrum, opting for a gold loan instead can be an ideal solution.

Gold loan is a secure advance that lenders sanction to applicants against their gold ornaments. Unlike MUDRA loans, borrowers can finance all types of expenses since there are no end-use restrictions. Moreover, businesspersons can avail a significantly higher amount of credit to expand the operations of their enterprise.

Rupeek Gold Loan – The Perfect Replacement for MUDRA Loan

In the past few years, Rupeek has become one of the most preferred gold loan providers in this country. Our efficient and cost-effective solutions have played a crucial part in fuelling the growing popularity of gold loans in India.

Following are some of the benefits of Rupeek Gold loan:

  • Higher Loan Amount: MUDRA loan max limit under PMMY scheme is Rs. 10,00,000. However, businesspersons can avail a loan of up to Rs. 1.5 crores if they avail a gold loan from us.
  • Minimal Documentation: Our gold loan application procedure involves minimum documentation. Applicants are only required to submit their KYC documents.
  • Quick Disbursal: Once our loan executive completes the KYC and gold valuation process, the approved loan amount is disbursed immediately into your bank account. However, in the case of MUDRA loan, the processing time may vary depending on the applicant’s location.
  • No End-use Restrictions: Unlike MUDRA loan in Trivandrum, a gold loan doesn’t have any end-use restrictions. The sanctioned loan amount can be used to meet any financial requirement.
  • Bullet Repayment: Individuals availing a gold loan have flexible repayment options. We accept part repayments of the loan amount; one can also pay the principal loan amount along with interest at the end of the tenure. Our gold loan payment portal has been designed to ease the repayment process. Log in to your profile with your registered mobile number and OTP to complete the repayment of your gold loan.
  • No Business Plan Required: Contrary to a MUDRA loan in Trivandrum, Individuals are not required to submit a business plan to avail a gold loan from us.
  • Lowest Interest Rates: We offer gold loans at the cheapest interest rates, starting at 0.79% per month only. The interest rates may differ based on the location of an applicant and the choice of scheme.

Doorstep Service In Trivandrum

Residents of the following areas can avail our doorstep loan service:

  • Kazhakkoottam
  • Peyad
  • Poojapura
  • Vattiyoorkavu
  • Peroorkada
  • Janardhanapuram
  • Kallambalam
  • Pachalloor
  • Karaivattom
  • M G Road

Your search for ‘easy MUDRA loan provider near me’ ends here with us. Raising funds to accelerate the growth of your enterprise is now more convenient than ever. Opt for a gold loan instead of a MUDRA loan in Trivandrum if you want flexible financing and enjoy the above-mentioned features.

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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. Can I pledge any gold item to avail a gold loan for my enterprise?

Ans. No, as of now, our lending partners only accept gold ornaments as collateral. Other gold items, such as bars and coins are not accepted by our lending partners. Also, please note that the purity level of the gold ornaments has to be between 18-24 karats.

  1. Where can I get a MUDRA loan?

You can get a MUDRA loan in Trivandrum from any commercial bank. Specific NBFCs and MFIs also offer this financing option.

  1. Are my pledged gold ornaments insured?

Ans. We offer complimentary gold insurance for every customer. Once the gold valuation and KYC process is completed, your gold is transported to the authorised bank branch in a sealed bag with GPS tracker. Upon arrival, the ornaments are stored in secure lockers under 24/7 surveillance. So, be assured that your gold is safe with us.

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