Mahila Personal Loan 2024: In today’s time, women are moving ahead along with men in every field, so they need extra money for emergency situations like travel, marriage or higher education. Due to which many times they have to take money from such places which becomes difficult for them to repay because the interest rate of that place is high, due to which the financial condition of women deteriorates a lot and they have to face problems. Therefore, keeping in mind the needs of women, the government has made ‘Women Personal Loan‘The plan has been initiated.
Under this scheme, the government will provide personal loans to needy women at low interest rates, by taking advantage of which they can easily fulfill their needs. If you want to know more about the women personal loan scheme, then you must read this article till the end, because if you read this article till the end, you will be able to know about the eligibility criteria, required documents, application process, interest rates and loan amounts.
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What is Mahila Personal Loan?
For women who are not aware of this loan, we should tell them that Mahila Personal Loan is a special loan given to women at low interest rates by various banks and loan applications. To get this loan, women have to apply online, in most of such loans the entire process is done online, hence no collateral or guarantee is required in this loan, you can apply through a simple paperless process.
How much amount can a Mahila Personal Loan cost?
Women can apply for loan according to their needs, usually the loan amount ranges from Rs 10,000 to Rs 5 lakh, however some government schemes also give you loan up to Rs 10 lakh.
Mahila Personal Loan Interest Rate
Talking about the interest rate of women personal loan, the interest rate in this is between 10% to 30%, which depends on the bank chosen by you, loan application or government scheme. You can take a loan under this scheme by going to any bank, you just have to know about the interest rate there.
Tenure of Mahila Personal Loan
This is a loan in which you can choose the time period according to your needs, in which you get the option of 3 years and 5 years. You can choose one of these two as per your wish.
What are the benefits of Mahila Personal Loan?
1. Women Personal Loans are approved faster than other loans, often within 24 hours of application and then the loan amount is deposited directly into your bank account.
2. In this loan, you do not need many documents, hence it is also called paperless loan.
3. In this you can take a loan of Rs 10 thousand to 5 lakh.
4. You do not need to pay any additional charges while taking the loan.
5. Its application process is very simple, all the fees are transparent, no fee is hidden from you.
You will get a loan of up to ₹ 50,000 to start a business, know full details here
Eligibility Criteria for Women Personal Loan
Only those women can avail the benefit of this loan who fulfill all these eligibility conditions.
1. Only Indian women can take this loan.
2. The age of the applicant woman should be between 21 years to 58 years.
3. The minimum salary of the applicant woman should be Rs 15,000.
4. Self-employed women have to submit bank statement of last 6 months of their business.
5. If the woman does not have an income certificate, then she will have to fill and submit Form 16.
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Documents Required for Mahila Personal Loan
1. Aadhar Card
2. PAN card
3. Bank statement/bank passbook
4. Residence Certificate
5. Business Relationship Information
How to Apply for Mahila Personal Loan?
Women’s personal loan Application The process is online, so all women can apply by following the online process.
1. First of all you have to download the instant loan application in your mobile phone.
2. Then you have to open the loan application.
3. After that verify your information in that app using mobile number, PIN code and OTP.
4. After this you have to enter your personal information like – Aadhar number, PAN number and Aadhar OTP.
5. Once you have completed the KYC process, you need to use the loan calculator in the app to specify the required loan amount and repayment term.
6. Now you will see details about the interest rate and monthly installments, if you find it correct then only you should proceed further.
7. After this you have to upload all the required documents and submit your application.
