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Get a Personal Loan for Women
A personal loan for women can help address a wide range of financial needs, from planned expenses to unexpected requirements. SMFG India Credit offers personal loans for women online with loan amounts ranging from Rs. 1 lakh to Rs. 10 lakh*, flexible repayment tenures from 12 to 60 months, and interest rates starting from 12%* per annum. The loan is available without collateral requirements, with minimal documentation and a 100% paperless application process.
Apply for a personal loan for women online to access financing for higher education, medical expenses, travel, business expansion, or home improvements. Explore the features, eligibility criteria, and application process for an SMFG India Credit personal loan for women.
Features and Benefits of Personal Loan for Women
*Terms and Conditions Apply
Eligibility Criteria for a Loan for Women
A women’s personal loan is approved based on factors such as age, income, and credit score. You can also use a personal loan eligibility calculator to check your potential loan amount before applying.
Key personal loan eligibility requirements at SMFG India Credit include:
| Factors | Salaried Employees | Self-Employed Individuals |
| Age | Must be between 24 and 60 years | Must be between 25 and 65 years |
| Nationality | Must be a resident Indian | Must be a resident Indian |
| Credit Score/CIBIL Score | Must be 700 or above | Must be 700 or above |
| Work/Business Experience | Must have a minimum of 6 months of work experience | Business must be at least 3 years old |
| Minimum Income | Monthly income must be at least Rs. 25,001* | Annual turnover must cross the minimum threshold, varying based on the profession |
| EMI (Equated Monthly Instalment) | EMI should be a maximum of 60% - 70% of the monthly income | EMI should be a maximum of 65% of the monthly income |
*Please note that this is only the basic eligibility criteria for a female personal loan. The final personal loan for women’s eligibility and loan approval will depend on several factors, including SMFG India Credit’s policy at the time of loan application.
Documents Required for a Personal Loan for Women
You only need a few personal loan documents to complete your application for an online loan for women. These allow identity, income, and address verification, ensuring your women’s loan is processed efficiently.
| Type of Document | Salaried Employees | Self-Employed Individuals |
| PAN Card | ● PAN card or Form 60 must be submitted by both the applicant and the co-applicant (if applicable) | ● PAN card or Form 60 must be submitted by both the applicant and the co-applicant (if applicable) |
| Proof of Identity and Proof of Address (any one) | ● Passport ● Driving Licence ● Aadhaar ● Voter ID provided by the Election Commission of India ● MNREGA Job Card authorised by a State Government officer ● National Population Register listing name and address | ● Passport ● Driving Licence ● Aadhaar ● Voter ID provided by the Election Commission of India ● MNREGA Job Card authorised by a State Government officer ● National Population Register listing name and address |
| Signature Proof (any one) | ● Passport ● PAN | ● Passport ● PAN |
| Bank Statements | ● Bank account statements for the last 12 months | ● Bank account statements for the last 6 months |
| Income Documents | ● No Salary Slip required. Bank statements submitted should display salary being credited. ● Income Tax Returns or Form 16 | ● Balance sheet and profit and loss account, income computation for the last 2 years ● Income Tax Returns for the last 2 years ● IT Assessment or Clearance certificate ● Income Tax challans or TDS certificate (Form 16A) OR Form 26AS for income declared in ITR |
| Business Proof (any one) | ● NA | ● Licence ● Registration Certificate ● GST Number |
Important Guidelines:
Co-applicants must also submit PAN, KYC, and other essential documents when applying for the women’s loan. The checklist above is only illustrative, and additional documents may be requested depending on the specific loan product, credit profile, and our policies at the time of loan application.
- Original identity and address proofs, and other supporting documents, should be ready for physical verification during the process, unless digital KYC has been fully completed.
- If there is a mismatch between the address in your documents and your current place of residence, you may provide a Deemed OVD. Click here to check the list of approved Deemed OVDs.
- Within 3 months of providing the initial address proof, you must submit an Officially Valid Document (OVD) that reflects your current residential address.
Interest Rate & Charges for Personal Loan for Women
Your personal loan interest rate will depend on factors like income, stability, CIBIL score, and overall eligibility. A strong repayment record and disciplined loan repayment history can help you qualify for better rates on your women's personal loan.
| Fees & Charges | Amount Chargeable |
| Personal Loan Interest Rate | Starting at 12%* per annum |
| Processing Fee | Up to 4% of the total loan amount + GST |
| Late Payment Charges | 2% per month (24% per annum) on overdue amount calculated on day to day basis payable from the relevant due date till date of actual payment |
| Cheque/ECS/NACH Dishonour Charges (per dishonour of cheque/ECS/NACH per presentation) | INR 500 + GST |
| Loan Cancellation Charges (loan cancelled before the first EMI) | INR 1,000 + GST |
| Loan Tenure | Up to 60 months |
Common Uses of Personal Loans for Women
A personal loan for ladies can be used for a wide range of personal and professional needs. Common women’s loan purposes are:
- Higher Education and Skill Development: Fund courses, certifications, or career-focused training.
- Medical Emergencies: Manage unexpected medical or recovery expenses.
- Wedding and Life Events: Cover wedding-related or major family event costs.
- Home Renovation and Repairs: Upgrade, repair, or furnish your home.
- Business Expansion: Support business growth, equipment purchases, or working capital needs.
- Travel: Finance holidays, study trips, or personal travel.
- Debt Consolidation: Combine multiple existing debts into a single, manageable EMI.
- Personal Goals: Meet personal expenses with collateral-free financing.
Why Choose SMFG India Credit for a Personal Loan for Women?
SMFG India Credit is a trusted NBFC offering personal loans for women across India. Here is why women borrowers choose us:
- Streamlined Digital Application Process: Complete the entire loan application online without visiting a branch.
- Transparent and Fair Process: All applicable charges are disclosed upfront, with no hidden fees.
- Wide Loan Range: From small loans for women to larger amounts of up to Rs. 10 lakhs* for eligible applicants.
- Dedicated Customer Support: Our team can assist you throughout the mahila personal loan application process, wherever necessary.
- Minimal Documentation: Simple and streamlined document requirements help reduce processing time.
- No Collateral Needed: Access unsecured funding based on your credit profile, income, and other eligibility factors.
How to Apply for a Personal Loan for Women? (Step-by-Step Guide)
You can apply online for a personal loan in just a few simple steps:
- Verify Your Contact Details: Enter your mobile number, PAN, pincode, and employment type (salaried or self-employed). Confirm your number via OTP.
- Share Additional Information: Add details such as monthly income and current repayment obligations.
- Pick Your Suitable Offer: Based on criteria like credit score, income, and existing debt, a customised loan offer will be shown. Select the one that fits your preference.
- Complete KYC and Submit: Finish your digital KYC and upload documents if prompted, as per our policy at the time of loan application. Submit the application to complete the process.
Safety Tips for Women Borrowers
When you apply for a personal loan for women online, it is important to protect your personal and financial information. Here are key precautions to take:
- Apply Through Official Channels: Use only the lender's official website or verified mobile app.
- Never Share Passwords: Genuine lenders never ask for PINs or banking passwords.
- Verify Lender Credentials: Check whether the lender is regulated by the Reserve Bank of India (RBI) and officially registered.
- Protect Your Documents: Share documents only through secure, official platforms.
- Watch for Upfront Fee Scams: Be cautious of lenders requesting previously undisclosed upfront payments before disbursal.
Empower Your Goals with a Personal Loan for Women
A personal loan for women is more than just financing – it’s a step toward empowerment. With SMFG India Credit, you can access flexible funding to support your higher education goals, expand your business, or pursue personal passions. These unsecured loans for women come with flexible tenures of up to 60 months and competitive interest rates starting at 12%* per annum, helping make your financial goals more achievable. A hassle-free online application process, minimal documentation, and quick loan disbursement ensure that women can focus on their ambitions without unnecessary delays. Apply online today!
Page also available in: हिन्दी - Hindi
* Please note that loans are disbursed at the sole discretion of SMFG India Credit. Final approval, loan terms and disbursal process will be subject to SMFG India Credit's policy at the time of loan application. If you are an existing customer and wish to foreclose your loan, please note that foreclosure terms and charges will be applicable as per our policy at the time of loan foreclosure.
Reasons to buy
You can take our personal loan for a variety of reasons.
Wedding Expenses
Higher Studies
Exotic Vacations
Hobbies