Today, women are changing the status quo and taking over every possible industry out there. However, financial challenges continue to remain a roadblock to their success. To help women get up to speed with men, many lenders now offer loans to women borrowers at flexible interest rates and comfortable loan repayment terms.
Yes, that’s right! Whether it is for starting a new business or paying for a medical emergency, women can now avail themselves of financial assistance at competitive rates from a preferred lender. And one such financial aid readily available to women in India is a personal loan.
Today, many lenders offer personal finance at incredibly affordable interest rates and require minimal documentation.
How does personal finance works?
Personal finance products are unsecured in nature, meaning they do not require you to provide any asset as collateral/security for obtaining the desired loan amount. You can also use the borrowed amount for multiple purposes, including medical expenses, education, home repairs, marriage, travel, and more.
However, you need to satisfy the personal loan eligibility criteria specified by the lender to obtain the loan.
Some of the standard criteria are mentioned below:
- Applicant should be in the age bracket of 22 to 58 years
- A monthly income of at least Rs. 15,000
- A minimum of one-year work experience
Here are the various personal finance options available to women in India.
Personal finance for education
Many lenders have launched special education loan schemes for women borrowers. Whether you want pursue a professional course or take special training to upskill, you can effortlessly secure personal finance at attractive personal loan interest rates.
Personal finance for wedding
Did you know you can opt for personal finance to meet your wedding expenses? Several lenders now offer loans to women at lucrative terms and conditions. Yes, you read that right! Be it the wedding venue or gifts for your relatives; personal loan can take care of all your expenses upfront.
Personal finance for medical emergencies
Since medical emergencies do not knock on the door before visiting, they are often financially hard to deal with. To help prepare for such unexpected medical expenses, women can avail themselves of personal finance. Besides, loans for such medical emergencies are typically disbursed within days if not hours.
Personal finance for business
As women entrepreneurs are currently leading the innovation race nowadays, lenders are willing to offer financial assistance to help them swiftly fund their business requirements. Today, you can secure monetary aid in the form of personal finance from any reputable lender, available at remarkably competitive rates and convenient repayment terms.
There are several borrowing options available for women borrowers at concessional loan rates, ensuring easy accessibility, flexible EMIs, and comfortable loan repayment terms. Besides, if you’re concerned about how much EMI you’ll be paying during the loan tenure, you can also use a personal loan EMI calculator online and plan your finances accordingly.