Men and Women both need to have a stable record of annual income for any type of loan or credit card. Both need to maintain a good credit score and a job to get their applications approved. Basically getting a loan is not a problem a person with a professional job. However women can have more loan requirements in case of being a housewife or unpaid leaves during pregnancy. So how can they get personal loan for themselves and what are the best options for them?
AB VanithaVahan Scheme
This loan is offered by Andhra Bank for self-employed women, but it is also available for working women. This loan is limited to purchasing a vehicle, and cannot be used for big requirements as the amount of loan is comparatively very less. Women can use it to purchase either a two-wheeler or a four-wheeler.
Oriental Bank Of Commerce
The bank offers credit for women for their business ideas. If the bank like the ideas of women they encourage them by offering the required amount with easy repayments. The women can apply for this loan if they want to open a beauty parlour, consultancy, party planning and any other creative business
Star Mahila Gold Loan Scheme
This loan is offered by Bank of India for purchasing jewellery or gold coins. The loan is available for both working women and homemakers. The loan can be taken according to the monthly net income of spouse for non-working and 50% of the gross annual income is offered.
This loan is offered by IDFC Bank to meet the financial needs of non-working women. The loan can be used for various purposes from buying a vehicle to opening a small business. But the loan amount is limited and cannot fulfil any huge requirements. Applying for this loan is easy and the documentation can be as simple as driving license or your voter ID.
This loan is offered by Canara Bank and is available for both working and non-working women. They can apply for the loan to purchase anything within the limits of the loan amount
. Women can use the loan to purchase electronics, jewelries, vehicles and other home interiors.
Swashakti loan was made available for women by Vijaya Bank with the objective of making women self-dependant. Women can take huge loan amounts from the bank to fulfil any needs of their homes. Their needs can include setting small businesses such as retail store, tailor shops, cosmetics, beauty parlour, medical shop, etc.
Shri MahilaSewaSahakari Bank Ltd.
The bank offers various loans for different requirements of women. It can differ in the amount and purpose. Such as buying assets, buying home interiors, home renovation, and many other reasons.