Sources For Obtaining Personal loan

A personal loan is a common requirement for people all over the world. For paying emergency medical bills to purchasing an expensive item, people go for personal loans for many reasons. If you are seeking a personal loan, you need to explore different options for getting a personal loan. For working women, there are a few schemes that offer easy personal loans. In order to support the financial independence of women, various banks and private lenders have introduced exclusive personal loans for the women. In the following section, you can find some of those personal loan options for women.

  1. Seek a Personal Loan at the Bank

For working women, the best option for obtaining a personal loan is to visit a bank. All public and private sector banks offer personal loans to its account holders. If you have a good credit history, you can obtain a good amount of personal loan. If you maintaining an exceptional credit score, rate of interest on your loan amount will be low. If you do not have a good credit history, loan amount will be low and rate of interest will be high. Having a fixed deposit in banks can also help you to fetch a good amount of personal loan. Maintaining regular transactions with the bank will also help you to get a personal loan easily.

  1. Personal Loan at Loans For Her

If you want to get a personal loan easily without entering in the hassle of prolonged document checking, you need to go for personal loan at LoansForHer. This online lending platform has been initiated to help the working women who seek easy and instant personal loans. If you have a good credit history, you can manage to get a high amount of loan. However, credit history does not matter a lot for lending at LoansForHer. It checks your documents online. You need to have a job with fixed salary. With such basic criteria, you can easily get a personal loan within a few minutes. Getting a quick loan is the biggest benefit of choosing LoansForHer. Before opting for a loan, you must read the terms and conditions carefully.

  1. Fullerton India Nari Shakti Personal Loan

Fullerton India has introduced a special personal loan scheme for women in India. This lending scheme aims to help the working women to gain financial independence. The best thing about this loan is that it is an unsecured loan. Hence, you do not need to keep an asset as collateral for getting a loan. Another positive thing is that the loan is available through online application. According to Fullerton India, the application form can be submitted online. Once the application is submitted, you need to check the status of the application after sometime. If the application is approved, you will get a notification on your email inbox. After approval of the application, the loan amount will be transferred to your bank account within 72 hours.

This personal loan has some drawbacks too. LoansForHer uses to provide simple criteria for personal loans. Fullerton India has a few specific criteria for providing personal loan. In the following section, you can find those criteria.

  • For this personal loan, women applicant should be at least 18 years old. The maximum age of the women should be 60 years.
  • Women working in public sector can apply for personal loan under this scheme. Having a job in public sector helps to get faster approval.
  • Women working in private sector can also apply for the personal loan under this scheme. Salary slip of the last few months may be required.
  • Non-working women can also apply for the personal loan. However, they should have good credit history. Moreover, their relatives should apply for the loan as co-borrower.
  1. Central Bank of India Cent Kalyani Scheme

Central Bank of India has rolled out the Cent Kalyani scheme to aid women who need personal loans. Many salaried women or working women want to start their own businesses. This personal loan scheme will help you to find a way of obtaining your business capital. This is an unsecured loan, and thus applicant does not need to have collateral. Under this personal loan scheme, a person can borrow up to one crore rupees. However, credit history is an important factor here. With a good credit score and history, you can easily obtain a good amount of personal loan under this scheme. This personal loan comes with the following eligibility criteria.

  • At the time of the loan approval, minimum age of the applicant should be 21 years. The maximum age limit for applying for the loan is 65 years.
  • Salaried women can opt for such loans.
  • Women entrepreneurs can also apply for the loan.

If you do not have an excellent credit history, you may not get a high amount. Hence, building good credit record is essential for obtaining a good amount of loan.

  1. SBI Stree Shakti Package

Stree Shakti Package from SBI is a unique scheme that gives personal loans for women. This scheme has been rolled out to support women entrepreneurs of the country. If you want to start a business, you can opt for such personal loan. If you have short-term financial crunch, this is not the personal loan option for you. Women can get up to 5 lakh personal loan under this scheme. Some of the eligibility criteria for this personal loan are:

  • Salaried professionals and self-employed women with steady income proof can apply for such loan.
  • Women entrepreneur with more than 50% owned shared capital in a business venture can also apply for such loan.

There are many such personal lending options for the working women in India. With the advent of time, different kinds of lending options are coming to support independent working women. If you want an instant loan without any hassles of prolonged application checking process, you can opt for personal loan from LoansForHer. This is one of the best private lending options for salaried women. You can pay your emergency bills, buy jewelries, pay education fees of children, and server many other purposes with the personal loan from Loan

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