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.
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:
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.
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.
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.
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.
Some important documents required are as follows: