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Tata Capital > Blog > How can Women get a Personal Loan?
In last few years, personal loans have grown exponentially in popularity. When you neither have savings to dip into or a helpful family member, you only have one reasonable option left. To go in for personal loan.
Personal loans are unsecured loans offered to applicants after assessing their credit history and loan repayment capacity.
So how can you as a woman get a personal loan?
First of all, ascertain the amount you need. Just make sure to borrow as less as possible, as you will have to pay interest on each and every rupee you borrow.
Now once you have a clear idea about your requirement, you need to see whether you are eligible to borrow the required amount or not. Lenders generally don’t lend if you already have EMIs using 40% of your monthly take home pay. You can use online personal loan EMI calculator to find out the possible loan amounts for given EMIs.
Once you have a fair idea about the loan amount that you can easily get approved, get in touch with several lenders and check their best offers. Collate all offers and try to opt for the one with lowest personal loan interest rate. Most lenders allow for online application of personal loan. Use this facility for your advantage.
Next you will need to submit copies of documents supporting proof of income, residence, identity, etc. You will also be required to produce copies of income tax returns, salary slips, bank statements, etc. The documentation required varies from lender to lender and you need to check with them individually.
If the lender assess your application to be worthy on parameters like credit worthiness, repayment capacity, etc., your loan will be sanctioned and amount will be disbursed through you bank account.
Taking a personal loan for women is not tough. And these days, technology has made it much easier for you to take the online route to apply for the loan.
Get an Instant Personal Loan for all your needs !
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