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Personal Loan for Women A Complete Guide

A Personal Loan is an unsecured financial product that provides immediate access to funds with high flexibility. These loans are available to anyone meeting the eligibility criteria. Still, many financial institutions have designed a Personal Loan for women that provides exclusive benefits to female loan applicants. These loans can help meet several miscellaneous expenses, such as higher education funding, marriage expenses, medical bills, home renovation, funeral expenses, and other expenses of personal nature. According to new government rules and RBI regulations, several relaxations and benefits are available for female applicants. This includes easily available Personal Loans to women with minimum documentation and more. 

Benefits and Features of a Personal Loan for Women:

    1. Minimal documentation: Today, most NBFCs like Clix Capital readily grant Personal Loans online without extensive documentation. The key requirement is an Experian credit score of 630.
    2. Faster disbursal of funds: When the Personal Loan application is verified, most financial institutions approve the loan within a few minutes.
    3. Flexible loan tenure: Financial institutions allow a longer loan tenure of up to 48 months for Personal Loans taken by women. 
    4. No hidden costs: Women applying for Personal Loans go through a transparent process, where all applicable fees, such as processing fees, etc., are revealed instead of being levied as hidden charges. 
    5. Fast loan approval: By simply filling out a loan application form online and uploading it on the NBFCs website, women can get their Personal Loans approved quickly. 
    6. Attractive interest rate: To help women get financial aid during their needs, NBFCs usually provide highly competitive Personal Loans interest rates.  

Eligibility Criteria for a Personal Loan for Women:

As a woman availing of a Personal Loan, you need to meet the following criteria:

  1. You should be a citizen of India.
  2. You should have a fixed, regular source of income. This could be through self-employment or by being employed as a salaried individual. 
  3. You should be at least 21 years of age. However, the minimum age for a Personal Loan varies from one lending institution to another. 
  4. You should be below 58 years of age upon completion of your loan tenure. This limit also varies with the loan provider you choose. 

Documents Required for Your Personal Loan Application:

Before your loan application gets approved, you must provide relevant proofs and documents to your loan provider. These are:

  1. Identity proof: PAN card, Aadhar card, Passport, Voter ID
  2. Address proof: Passport, Aadhar card, Voter ID, rent agreement, electricity bill
  3. Proof of income: Latest salary slips, tax return documents, Form 16

How to Apply for a Personal Loan for Women? 

Applying for Personal Loans has become much easier with new-age NBFCs like Clix Capital accepting and approving personal loans for women online. You can start the Personal Loan application process without visiting any financial institution. Once you have researched and estimated your total loan expense from the lending institution you choose, the following steps will help you get a loan.

Step 1: Visit the website of the preferred lending institution or NBFC and choose Personal Loan.

Step 2: Click ‘Apply Now and verify your mobile number. 

Step 3: Fill out the necessary details and upload the required documents.

 Post verification, you will get the Personal Loan sanctioned within minutes and funds transferred to your account. So, what are you waiting for? Apply for a Personal Loan today

Conclusion

Our Personal Loan for Women is designed to help you gain access to more financial freedom and have the chance to make big strides in your life.Get a personal loan to do everyday purchases. No credit rating is required. Low interest rates, flexible payment schedule and fast loan approval.Get the most exclusive women’s personal loan of your life with personal loans that offer the most competitive rate in India.

Charlie Herry
I am a professional writer and blogger. I’m researching and writing about innovation, Entertainment, technology, business, and the latest digital marketing trends click here to go website.

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