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Women empowerment is the need of the hour and hence, many banks and NBFCs have come up with personal loans for women. Loans for women are designed to make them financially independent and offer them funds for various expenses like travel, medical fees, home renovation, buying a gadget etc.A maximum of Rs. 2 lakhs can be borrowed as a personal loan by women and the loan process can easily be initiated online. The disbursement is also very quick, with the funds allocated to you in as little as 24 hours.
What is a personal loan for women?
A personal loan for women is aimed to help women to meet their financial needs. It is an unsecured loan with low interest rates and flexible EMI options. Working women who are either salaried at a public or private company or are self-employed can avail a personal loan for women and use it for any financial need that they see fit.
Benefits of Personal Loans for Women
- Favourable interest rates
- Funds can be used to pay for any expense
- Personal loans are unsecured , so no collateral necessary
- Quick application and disbursement of loan.
- You can go for a personal loan instead of liquidating investments if in need of cash.
Terms of Personal Loans for Women
The terms of personal loans for women vary from lender to lender. Some of the basic terms are as follows:
- Loan amount: Rs. 20,000 to Rs. 2,00,000
- Interest Rate: 18% to 36%
- Repayment Tenure: 12 to 36 months
- Processing Fees: 2% to 4% of loan amount.
A personal loan for women is quite handy and can really help women pay for expenses when they’re in financial need. Low interest rates and flexible repayment options also ensure that the loan is not a burden. Women need financial freedom, and this loan is the perfect way to have just that.
DISCLAIMER
The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.