How To Get A Personal Loan For Women?

By Author: Ankit Verma
Total Articles: 23
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After years of struggle, the state of women in India is quite liberal today. To establish a fair gender practice, the government of India has initiated various women empowerment initiatives out of which acquiring a personal loan is a right to freedom for women in India today. With instant personal loans in hand, women have the power to independently raise money in times of financial crisis or to fulfill life goals.

Women may take a personal loan for starting a new venture, funding their own education, upgrading skills, buy a new vehicle, pay for medications or support their family financially. Being an unsecured loan, women don’t have to face any hassles of mortgaging assets against the loan. This makes the personal loan a safe choice for both homemakers and working women.

Personal Loan Features Helping Women to Manage Finances
Various financial institutions and NBFCs in India witnessed the need for exclusively launching small cash loan ...
... apps for women. These instant loan cash apps have useful features:

The loan gets approved quickly - After the personal loan application is submitted and verified. Instant personal loan shows the approval status in real-time.

No Collateral - Instant personal loan being an unsecured loan type, there is no security or guarantor required against the loan. Hence, it becomes easy for a woman to avail instant loan whenever required, without any stress of arranging collateral.

Low-interest rate - Affordable and reasonable interest rate based on the borrower’s financial background and capacity to repay the instant personal loan.

Decide EMIs Flexibly - Women can use the personal loan EMI calculator within the loan app to calculate EMIs and tenure in seconds. This can help in budget management every month and encourage savings.

No physical documentation - An instant personal loan involves KYC document verification in a paperless format, which reduces the loan processing time and gives faster approval.

Ease of disbursal - Women juggle in different roles throughout the day. Being occupied in their daily schedule, they don’t have to run behind the lenders for loan disbursal. Once the personal loan application is approved, the loan amount is disbursed directly into the borrower’s account in a single working day.

Personal Loan for Women - Documents & Eligibility Criteria
Before applying for a personal loan, it is important to know about the required loan documents to prevent rejection or delayed disbursement. Women can benefit from a personal loan with minimal documents.
• You need to submit KYC documents that should include Identity and address proof (Aadhar Card/ PAN Card/ Smart Card Driving License)

• Financial documents may include the last 6 months' bank statements or recent bank transactions, individual profile, photocopy, and other important documents requested by the lender.

• Must be a citizen of India of at least 21 - 58 years of age

• Minimum income should be between Rs.15,000 monthly (for salaried or self-employed)

Women have a progressive vision today and also the freedom to do what is right. So, ladies, check the number of personal loan apps on Google Play Store and go ahead with a loan application to meet your immediate financial needs.