Having an adjustable repayment period, personal loans for women are unsecured loans. Both women in salaried jobs and those who work for themselves can apply for this form of credit. Any type of expense, such as paying for personal expenses or starting a business, can be covered by a personal loan for women. It's simple to apply for a personal loan for women, and it offers flexible repayment terms and incredibly low interest rates. Additionally hassle-free and easy to complete, the application process requires little paperwork.
Feature and Benefits of Personal Loan for Women
Due to insufficient or limited money, a personal loan has emerged as the perfect credit instrument for women to pay for individualised needs. Loans for women products are made with consideration for the typical personal expenses faced by women to ensure they can meet all of their financial needs. The following are the feature and benefit of a personal loan for ladies:
Minimal Documentation
Today, if you have a solid credit history and a positive relationship with the bank or NBFC, they may be willing to approve your personal loan application with little to no documentation.
Quick Disbursement
Most lenders will transfer the loan money to your bank account as soon as your loan application is approved, typically within 24 hours.
Flexible Terms
Most lenders provide you between 12 and 60 months to conveniently repay your personal loan.
Swift Approval
Simply complete an online application form and upload the necessary documents for swift approval. Your application for a personal loan will be accepted right away, and you'll have your money 24 hours after that.
Low Interest Rates
In an effort to encourage women to become financially independent, some lenders provide personal loans to women at interest rates that are below average.
Eligibility Criteria for Personal Loan for Women
To qualify for personal loan for ladies, you must meet the requirements listed below:
Indian nationality is required.
A consistent source of revenue is required. Both salaried employees of a business and independent contractors are possible.
A legal adult, or someone who is at least 18 years old, is required. Depending on the lender, the minimum age may be 21 or 25. Additionally, there is a maximum age, which is often 58 to 65 years old.
Documents Required for Personal Loan for Women
To apply for a women loan , you must present the paperwork stated below:
Identity Proof:
Voter identification, an Aadhaar card, a PAN card, a passport, etc. are all acceptable forms of identification.
Address Proof:
Aadhaar cards, driver's licences, voter identification cards, passports, utility bills, and rental agreements are examples of address proof.
Income Proof:
Recent pay stubs, usually from the last three months, an income return certificate, or the most recent Form 16.
How to apply for Personal Loan for Women
Application for a personal loan for womens: A step-by-step guide
Step 1: To access our online application form, click 'APPLY' at the top of this page.
Step 2: Enter the 10-digit mobile number you provided and the OTP that was given to your phone.
Step 3: Complete the application form with your contact information and basic information like your complete name, date of birth, PIN code, and PAN.
Step 4: Next, click 'PROCEED' to go to the loan selection screen.
Step 5: Type in how much money you require in loans.
Step 6: Select the repayment term .
Step 7: Complete the KYC process, then submit your application.
In the subsequent phases, our representative will advise you. On successful completion of your papers' verification, the loan money will be paid to your bank account.
FinCrif Frequently Asked Questions ( FAQ )
How can a housewife get a loan?
ANS: Unsecured personal loans may not be available to housewives, but if they own gold or gold jewellery, they may be able to get a gold loan.
How long does a woman have to pay back a personal loan?
ANS: To help you repay the loan over a comfortable period, we provide personal loans for salaried workers with terms of up to 6 years. Smaller EMI payments are a benefit of a longer tenure. The loan is easier to repay without putting a strain on your finances the lower the EMIs are.
What purposes do personal loans serve for women?
ANS: Women's personal loans are unsecured, all-purpose loans. Women borrowers can utilise a personal loan for a number of things, including a wedding, education, trip or vacation, travel or other emergencies, home renovations, and the purchase of a car, to name a few.
