What is Personal Loan For Women
Women have become the revolutionary force in today’s society. Be it in the professional world or business, they are positively contributing to the economy. However, it may be difficult for women to avail of a personal loan when they need capital to cover personal expenses. A personal loan for women is an innovative loan product targeted toward fulfilling the capital requirements of women. Such personal loans allow women to raise immediate capital to cover expenses without end-use restrictions.
IIFL Finance has designed its women’s loan to ensure it caters to every personal finance need of women. The personal loan comes with attractive and affordable interest rates and flexible repayment options. The loan application is approved within 5 minutes of submission, and the loan amount is quickly disbursed within 24 hours.
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Personal Loan For Women Features and Benefits
A personal loan for women has become an ideal credit product to cover personal expenses due to inadequate or limited capital. The ladies personal loan product is designed keeping in mind the common personal expenses for women to ensure they can fulfil all of their capital requirement needs. Here are the features and benefits of a personal loan for ladies:
What are the eligibility criteria for a Personal Loan for Women?
IIFL Finance has set eligibility criteria to offer a personal loan for women to ensure the loan process is of utmost transparency and successfully covers the personal expenses of women. Here are the eligibility criteria for a personal loan for ladies:
Age: The age of the applicant should be between 23 years-65 years.
Employment: The applicant should be a salaried employee or a self-employed individual.
CIBIL Score: The applicant should have a CIBIL or credit score of 750 or higher.
Monthly Salary: The monthly salary of the applicant must start from Rs 22,000, depending on the city of residence.
What are the documents required for a Personal Loan for Women?
Unlike other types of loans, women’s loan requires minimal documentation, with the need to submit only a few basic documents. Minimal documentation ensures that the women can raise immediate capital by avoiding a time-consuming loan application process. Here are the documents required to avail of a personal loan for ladies:
Personal Loan For Women Interest Rate
When women take such a loan, they are liable to repay the principal amount along with interest to the lender within the loan tenure. The interest rates on a personal loan for ladies depend on numerous factors such as CIBIL score, employment, age, desired loan amount, and loan tenure. IIFL Finance offers instant personal loans for a housewife at nominal interest rates to ensure there is no financial burden at the time of repayment.
Why Choose IIFL Finance for Personal Loan For Women?
IIFL Finance is India’s leading financial services provider that specialises in offering various loan products to cater to every arising financial need. IIFL Finance has designed women’s loans after conducting extensive research on the personal expenses that may arise for women at every stage of their lives.
The personal loan for ladies is ideal for raising Rs 5 lakh as it comes with attractive and affordable interest rates with flexible repayment options. The instant personal loan for the housewife application process is entirely online and requires minimal documentation with no collateral requirement, allowing borrowers to raise a maximum of Rs 5 lakh.
What are the Things to Consider Before Taking a Personal Loan For Women?
The capital needs of women may differ from the personal needs of others which may require a dedicated loan product such as a personal loan for women. However, as lenders have the last say in approving or rejecting the loan application, women need to consider some factors before applying for the loan product to ensure their application is approved. Here are the things to consider before taking a personal loan for housewives:
How To Apply For Personal Loan For Women?
IIFL Finance has designed the instant personal loan for a housewife application process to be simple and hassle-free. The steps include submitting a few basic documents following a completely online process. Here is how you can apply for a personal loan for housewives:
*Once you have submitted the application form for a personal loan for housewives, it will be analysed by IIFL Finance based on your eligibility criteria and the submitted documents. After successful review, the loan will be approved within 5 minutes, and the loan amount will be credited into your bank account within 24 hours.