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Personal Loans for Women: Overview & Eligibility Criteria

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Created on
May 25, 2023


What’s Inside

Unsecured personal loans for women are offered by some of the major banks and other lending institutions in India. These personal loans help women address personal expenses, such as weddings, vacation plans, and education.

Plus, the government personal loan for women in India aims to help budding entrepreneurs kickstart their initiatives and create employment for more people.

Here is a brief rundown of personal loans in India for women and how you can apply online.

Eligibility to Secure a Personal Loan for Women

If you are a salaried woman earning well enough and you also have a decent credit score, most banks view you as a perfect loan candidate. While each bank has certain variations in their requirements, here are some core eligibility criteria to fulfil if you want to avail of a personal loan for women:

  • You should be more than 21 years old but less than 60 years at the time of applying
  • The applicant must be employed with a private company or government body for at least 2 years – the tenure in their current organisation must also exceed one year at the time of application
  • Minimum monthly salary of ₹15,000 - this varies from bank to bank. For instance, HDFC Bank requires a minimum salary of ₹25,000

Plus, the higher your credit score, the lower your interest rate. A good rule of thumb is to maintain a credit score of above 750 before you apply.

Documents Required

  • Proof of identity (Aadhar card, pan card, driving license or other government-issued IDs)
  • Address proof (Any government-registered document)
  • Passbook for the previous 6 months and bank statement from the last 3 months to cross-check employment details
  • Form 16 with current dated salary certificate or last two salary slips
  • Proof of end use (the place where you plan to spend the money)

Top Lenders Offering Personal Loans for Women

Additionally, the banks offer flexible repayment options in the form of EMIs to prevent undue financial burden.


Personal loans for women in India provide a valuable financial resource to meet various personal needs and empower women to pursue their goals and aspirations. These loans are offered by major banks and lending institutions, with the aim of supporting women in addressing expenses related to weddings, vacations, education, and entrepreneurship.

To be eligible for a personal loan, women need to fulfil certain criteria, such as being of a certain age range, having stable employment with a private company or government body, and meeting minimum salary requirements. Additionally, maintaining a good credit score significantly improves the chances of securing a loan and obtaining a lower interest rate.

Get your personal loan in minutes through Fi Money

Fi Money offers attractive interest rates on instant loans. These pre-approved personal loans are seamlessly deposited directly into your savings account. At Fi, the entire process is completely paperless, ensuring a hassle-free experience. With competitive interest rates, users can maintain full control and have complete visibility of all loan details. Furthermore, Fi Money provides the convenience of setting up automatic in-app payments to avoid any late EMI fees. Our licensed partner bank assesses each user's eligibility and assigns a loan amount of up to ₹5 lakh.

Frequently Asked Questions

How long does it take to get a personal loan approval for women?

If you opt for online application and verification, the process takes only a few days. But if you choose the offline procedure, you can expect one to two weeks to get approved and receive the loan amount.

What are the documents required to avail of a personal loan for women?

Some important documents required are as follows:

  • Address proof
  • Identity proof
  • Income slips of the current organisation
  • Bank passbook
  • Bank statements for the past few months


Fi Money is not a bank; it offers banking services through licensed partners and investment services through epiFi Wealth Pvt. Ltd. and its partners. This post is for information only and is not professional financial advice.
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