How can Housewives get Loans?

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How can a Housewife apply for a Personal Loan?
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Personal Loan for Housewives

• A personal loan is an important fund applied by
  borrower usually at the time of financial crunch.
• Today, in the time of financial independence of
  the individuals, many banks and NBFCs are willing
  to give funds to a housewife.
• A personal loan helps them to explore new
  business opportunities while taking care of their
  family.
• It will help them to give rise to employment,
  generate revenue and be part of the rising
  economy of India.

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How can Women apply for a personal loan?

• Add a Co-Applicant -
• One of the easy ways out is to find a
  co-applicant. You can take a joint personal loan.
  
• In this case, the bank will consider the income
  proof as the supporting document.
• The amount of loan disbursed by the bank will be
  decided by the income of the co-applicant.
• Before you apply for a personal loan, dont
  forget to check the EMI option and also the
  interest rate.
• Add a Loan Guarantor - 
• If you are assured that your venture is going to
  reap benefits and you can pay off the loan
  easily, you can add a loan guarantor.
• Loan guarantor is a person who agrees to pay off
  the loan in case the prime borrowers fails to do
  so.
• Having a loan guarantor who has a higher credit
  score and good credit history will make it easy
  for you to apply for a loan and avail it. 

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Features of Personal Loans for Women

1. Adding a co-applicant makes you eligible for a
   personal loan In case you do not have a regular
   income.
2. No restriction on the usage of the amount You
   can use the amount to fund your new business, buy
   appliances, arrange required infrastructure, etc.
3. Quicker loan approval The loan approval process
   is quick and takes very less time.
4. Minimal paperwork Almost nil paperwork. In some
   cases, the loan is pre-approved
5. An unsecured loan, hence there is no need to add
   collateral No need to provide your home or asset
   as security.
6. You can easily start your business Start your
   business as soon as you get the funds.
7. Pay off in easy EMI Start repaying the loan in
   EMIs.

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Conclusion

• There are a number of banks and NBFCs offering
  personal loan to women.
• Comparing their interest rate and other aspects
  will make it easy for women to apply for a loan
  and avail it.
• However, the interest rates do impact EMIs and
  failure of repayment can affect the credit
  ratings and history.
• Hence, thoroughly analyze your repayment capacity
  and then apply for a personal loan.

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Thank You !!!