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Financial Independence for Women: Discover Our Loan Options
In recent times, Women have grown financially independent, excelling in all the horizons. With understanding and leadership skills, women have proven exemplary business leaders. However, women entrepreneurs still face many more hurdles than their male counterparts. There are a lot of stereotypes still haunting society as a result of which women do not get the same support as men often get. This results in a shortage of funds, which is a big hurdle to the growth of the business.
However, to encourage and motivate emerging businesswomen, many banks, NBFCs, and financial institutions are developing numerous loan for women schemes so that there is no looking back for the women of modern civilization. These are specially crafted for women entrepreneurs and help them realize their potential.
Reasons to Take Loans For Women
Preferred Customers
Data analytics of numerous lending institutions has proven that loan default among women applicants is considerably lower. Therefore, a woman's chances of being approved for a loan are higher.
Specialized Schemes
Lenders often encourage women to become homeowners, launch limited-period schemes, and offer interest rates specially targeted at women.
Covers Multiple Expenditure
With loans for women, one can afford financial assistance to cover huge expenses related to paying the business and personal requirements.
Hassle-Free Process of Application
With a quick and hassle-free application process, one can easily apply for loans for women, with the fastest loan approval.
Flexible Period of Tenure
With an ease and flexible long tenure, it will assist in managing finances better.
Features & Benefits
Eligibility
Who can apply:
- Minimum ₹ 25000 monthly income in metro cities and ₹ 20,000 in other cities
- Salaried individual
- A credit score above 650
- Total work experience of atleast 1 year
Age:
- Above 23 years and below 58 years
Required Documents
Identity Proof
- Passport
- Voter ID
- Driving License
- Aadhar Card (Mandatory)
- Pan card (Mandatory)
Any of the following
Address Proof
- Passport
- Utility Bill
- Aadhar Card
- Driving License
Any of the following
Other Docs
Any of the following
- Salary Slips ( Last 3 months)
- Salary A/c Bank statement ( Last 3 months)
Calculator
Calculate your Loan EMI in 3 easy steps. Use the slider to set your loan amount, interest rate and tenure to understand your loan summary
Loan Summary
Loan Amount
₹ 100,000
Interest Payable
₹ 17,397
Monthly EMI
₹ 1,957
How to Apply
LoansJagat is a platform to offer loans for women quickly and efficiently without having a difficult application process. Our aim is to offer a hassle-free process so that no one has to wait for their dream to become a possibility. Apply for a loan right away!
- Visit the LoansJagat.com
- Click on apply button
- Select the loan category
- Enter city name
- Fill in the total loan amount
- Mention the Net Monthly Salary
- Enter your mobile number
- Click on the next button
- Fill in your personal and financial details
- Finally, based on the following information, you will get bank options available.
Tips to Avoid Loan Rejection
The following guidelines assist in improving the chances of loan approval to avoid the possibility of rejection of loans for women.
- Eligibility Criteria: It must be adhered to reduce the chances of loan rejection.
- Regular Paid Installments: Monthly payments must be ensured on time.
- Credit Utilization: It must be a ratio of 30% or less.
- Credit Scores: They are often the key factor on which lenders rely on to assess the risk associated with an individual. A score of 750 and above is considered credit-worthy to increase the chances of loan approval.
- Avoid Multiple Loans: Taking several loans and credit cards without closing pre-existing applications will also portray you as credit-hungry and unreliable as a borrower.
- Inquiries And Applications: As an increased number of lenders approach, a person's credit score gets lower, often showing that they are credit-hungry and in dire need of funds from lenders and banks, jeopardizing their financial credibility.
- Debt-to-Income Ratio: Keep your debt-to-income ratio low. This ratio compares your monthly debt payments to your monthly gross income. Lenders typically prefer a ratio of 36% or lower.
- Consider a Co-Signer: If your credit score or income is insufficient, a co-signer with a solid financial profile can improve your chances of approval of a personal in kolkata..
- Be Honest: Provide accurate and truthful information on your application. Misrepresentation can lead to automatic rejection and damage your credibility.
- Consult a Financial Advisor: If you’re unsure about your financial standing or need advice on improving your chances, consult a financial advisor.
FAQ’s