In today’s time, women are not behind men in any field. They are making their name in every field and becoming financially self-reliant. Many women are not only bearing the expenses of their family by starting self-employment and business but are also setting a new example in the society.
Government initiative to provide financial assistance to women
Many times women need a loan for their business or needs, but they are unable to take a loan due to high interest rates. To overcome this problem, the government has started the Mahila Personal Loan Scheme, under which loans are provided to needy women at low interest.
What is Mahila Personal Loan Scheme?
The government has started this scheme to give financial freedom to women. Under this scheme, women can take a loan ranging from Rs 10,000 to Rs 5,00,000. Under some schemes, women can also get a loan of up to Rs 10 lakh.
Eligibility for Mahila Personal Loan
Only Indian female citizens can apply for this scheme.
The age of the woman applying should be between 21 to 58 years.
The minimum monthly salary of the applicant woman should be 15 thousand.
If the woman is running her own business, she has to submit the bank statement of the last 6 months.
Required documents
Aadhaar card
PAN card
Bank statement
Residence certificate
Documents related to business
How to apply online for women personal loan?
First of all download the instant loan application on your smartphone.
Open the application and verify through mobile number and OTP.
Now enter your Aadhaar number, PAN card number and other required information.
Choose the loan amount and upload the required documents.
After filling all the information, click on the ‘submit’ button.
In how many days will the money be received after the loan application?
After applying, the bank and loan institute complete the verification process of the documents. If everything is found correct, the loan amount is usually deposited into your bank account within 24 to 48 hours.
Fact check
This article provides information about the Mahila Personal Loan Scheme run by the Government of India. However, it is important to note that the loan terms and interest rates may vary across different banks and financial institutions. Hence, before applying for a loan, it is important to compare different options and choose the one that best suits your needs.
