Woking women play an essential part in India’s workforce and contribute to the growth of the economy. However, many women don't work full-time and choose to be a homemaker. Well, they may have their reasons, but it doesn't mean they are devoid of financial support. At Hero FinCorp we take care of our women customers' financial needs as they have a lot on their plate with their family responsibility. Our Personal Loan for Women product helps them overcome the financial difficulties they are facing due to the lack of full-time employment.
Benefits of Personal Loans for Women
Personal Loans for Women were introduced to help women applicants get the financial aid they need. It is an important financial tool, especially for unemployed housewives. They don’t have a regular source of income, but they manage to do some freelance work and household businesses. With the help of this, they can secure an unsecured loan.
In case of a financial crisis, the budget might get disrupted, but you can manage it with our Personal Loan for Women. Our loans provide several advantages:
Quick Approval
Our Personal Loans are approved within 24 hours. It means urgent financial needs are easy to meet.
No Collateral Required
We have a collateral-free process for our Personal Loan, which means we don't ask you for your valuables.
Small Cash Loans
We offer small cash loan schemes for women applicants. This scheme starts from INR 50,000 - 1,50,000.
Also Read: Are Personal Loans Bad
How Personal Loans Overcome Financial Challenges for Women?
Women face many financial difficulties when handling the household budget. But worry not, our loan for housewife scheme helps them tackle the financial crisis, see how:
Children's School Fees
- Personal Loans can help women pay for their children's school fees without having to dip into their savings or income.
- This can ensure that their children get the education they need without compromising on other expenses.
Medical Emergency
- Personal Loans for women can cover unexpected medical expenses that the insurance may not cover.
- This gives peace of mind and prevents financial stress.
Debt Consolidation
- In case credit card debt has gone more than the expectation, consolidate it with our Personal Loan.
- This way women can save money on interest and simplify their finances by having one monthly payment.
Starting a Business
- Personal Loans provide lump-sum funding which women can use to start their businesses.
Home Repairs
- There are one or two repairs always coming up at home, and it is easy to keep them under budget with Personal Loans.
Unexpected Expenses
- Expenses, such as car repairs or appliance replacement are issues that can arise anytime.
- Prevent these issues from bothering your savings by borrowing our instant Personal Loan.
Eligibility Criteria for Personal Loans
To be eligible for a Personal Loan for women, housewives need to meet a few of our criteria:
Must be a Resident of India
The first borrower is that they should be a resident of India. It means they can apply for our Personal Loan scheme if they prove they are an Indian citizen.
Must be in the Age group of 21- 58 years
The second thing we look for in your loan application is the age limit. We have a pre-set age limit of 21 to 58 years.
The minimum Income should be INR 15,000 Monthly
The next essential eligibility criterion you need to meet is the minimum income requirement. At Hero FinCorp we have set the minimum income requirement to INR 15,000 per month.
Also Read: 7 Insightful Self-Employed Personal Loan Tips
How to Apply for Personal Loan for Women?
Housewives can apply for a Personal Loan with a three-step application process. Take a look below:
Step 1: Download Hero FinCorp Personal Loan App
Go to the Google play store on your Android phone and type “Hero FinCorp Personal Loan App”. Install the application and move on to the next step.
Step 2: Feed in the Details
Open the app and enter your mobile number, area pin code and Aadhaar card number to complete your KYC.
For income details, housewives earning through any freelance work or household business can show their bank statements to prove their income.
Step 3: Submit the Loan Application
Fill in the application form and submit it.
Once you are done, we verify your application and send in our decision within 24 hours.
To sum up, a Personal Loan enhances the level of financial independence and encourages unemployed housewives to take responsibility for their finances by providing them with instant loan.
