Avail of a Collateral-free Personal Loan for Women today!
Over the past decade, many women have begun to actively contribute financially to their families as well as the nation’s economy. Therefore, it's only fair that they have access to loans that cater specifically to their needs.
With Poonawalla Fincorp’s Personal Loan, you can fulfil various important needs, such as education, medical emergencies, and more. Our loan is collateral-free and can be applied for through an easy online application process with minimal documentation.
Check EMI Amount For A Loan For Women
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EMI Amount = *
Interest Rates and Charges on loan scheme for women
| Interest Rate | 9.99%* p.a. onwards |
| Loan Amount | ₹1 Lakh to ₹50 Lakh |
| Loan Processing Fees | Up to 3% |
| Lowest EMI per month | Starting from ₹2,124* per Lakh for 60 months |
| Loan Tenure | 12 – 84 months |
| Prepayment/Foreclosure Charges | 0%* If paid from own sources & 4% If paid from other sources |
| Default Charges | 24% per annum |
| Repayment Instrument Dishonour Charges | ₹500 per bounce plus applicable taxes |
| Stamp Duty | At actuals (as per state) |
| Other Hidden Charges | Nil |
Note: Default Charges: Penalty will be charged for non payment of EMI amount and for non-compliance of material terms and conditions, as more particularly specified at Default Charges.
How to Utilize the Loan Amount?
Personal use loans are one of the most versatile financial products in India that can be obtained to fulfil a host of different purposes, such as:
- Higher Education
- Home Renovation
- Medical Emergencies
- Wedding Planning
- Travel or Vacation
At Poonawalla Fincorp, we do not ask for the purpose of personal credit when processing an application. We understand that the financial needs of women are diverse and varied. Hence, we enable you to utilize the funds based on your specific requirements.
Eligibility Criteria for Loans for Women in India
We have kept the eligibility criteria as simple as possible, making it easier for women to avail of a loan easily.
Age
Between 21 and 60 years
Citizenship
Indian
Employment
At least one year of work experience
Income
At least ₹30,000
- Age - The borrower must be at least 21 years old at the time of applying for the loan and 60 years old at loan maturity. This criterion has been put in place to ensure that the borrower is a salaried individual.
- Citizenship - The borrower must be a citizen of India.
- Employment - The borrower should have at least one year of work experience, with a minimum of one month of stable employment at their current job.
- Income - The borrower must have a monthly income of at least ₹30,000.
Note: The above-mentioned eligibility criteria are indicative. Additional criteria may be specified during loan processing.
Documents Needed for a Loan for Ladies in India
Poonawalla Fincorp only asks for basic and necessary documents. Here is an indicative list of the documents we require during the loan application process:
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Identity Proof
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Income Proof
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Address Proof
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Employment Proof
- Identity Proof - Borrowers will need to submit a PAN Card/Aadhaar Card/Driving License/Voter ID/Passport.
- Income Proof - Borrowers can submit their bank financial statements.
- Address Proof - Borrowers can verify their address by submitting a copy of their passport, rent agreement, or utility bills (such as electricity bills).
- Employment Proof - Borrower needs to submit any form of proof of employment like the salary slips from the past three months.
Additional documents may be required from the borrower on a case-to-case basis.
Advantages of Personal Loans for Women in India
Some of the most essential benefits of our women loan scheme include:
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Collateral-free Loans
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Flexible Repayment Tenure
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Attractive Interest Rates
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Easy Application Process
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No Foreclosure Charges
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Multipurpose Loan
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No Hidden Charges
Collateral-free Loans
You don’t have to go through the hassle of providing collateral to avail of a loan from us. It is provided purely based on your income and financial strength.
Flexible Repayment Tenure
Our loans come with a flexible repayment tenure of up to 84 months. You can choose the tenure at the time of applying for the loan.
Attractive Low-Interest Rates
Poonawalla Fincorp’s interest rates for loans start from just 9.99%* per annum. Several factors determine the interest rate offered, such as CIBIL score, income level, etc.
Easy Application Process
The borrower’s convenience is important to us, which is why we make our online loan application process as easy and convenient as possible.
No Foreclosure Charges
We do not charge any pre-payment penalty for closing loans early. You can prepay the loan if you have sufficient funds to do so, without having to worry about any prepayment penalty.
Funds Can be Used for Any Purpose
The loan can be used for any purpose, such as medical emergencies, higher education, funding home renovation, etc.
No Hidden Costs
All applicable charges on our loan are clearly communicated to you before and during the loan application process.
Apply for Loan Scheme for Women within 5 Minutes
Apply
Online
Apply Online
Click on ‘Apply Now’ and complete the application form
Personal
Details
Personal Details
Enter your DOB, qualification, and residential details
Verification
Verification
Submit and upload all details for verification and assessment
Frequently Asked Questions on Women Loan Scheme in India
The application process for Poonawalla Fincorp’s women's loan has been kept as easy as possible. Here are the steps:
- Step 1: Visit the ‘Personal Loan’ page on our website, check eligibility criteria, and click on ‘Apply Now’.
- Step 2: Complete the loan application form.
- Step 3: Upload and submit the relevant documents.
After successful verification and assessment of your loan application, the approved loan amount will be disbursed directly to your bank account.
Yes, you can check the EMI calculator for personal use loans to determine your monthly repayment schedule.
*Terms & Conditions Apply
