The need for extra cash can come up at any time in life for anyone, be it a working woman or a non-working woman. Short term loans that can be availed without any collateral such as personal loans are the easiest to avail. Moreover, it involves lesser documentation and quick disbursal.
In the current day, women have become more independent and are taking their own decisions about their finances. But, there might always be a need for some extra money for many reasons.
Some of the reasons for which women may need personal loans could be for:
When there is a need for a loan, women may not like to spend time visiting a bank and submitting documents in the middle of a busy work schedule. Therefore, Moneyview offers instant online personal loans for women.
These loans are extremely convenient and can be availed from the comfort of your home or office. All you need is a device connected to the internet, it could be a mobile or a laptop/desktop.
A regular income is an essential feature required to avail personal loans. But, when an individual is not working, then lending becomes risky for the lender. So, personal loans are not available from private lenders or banks for non-working women.
But there are some options which women who are not working can use to get a personal loan.
A gold loan is available through banks or other Non-Banking Financial Companies. To avail a gold loan, all you have to do is pledge your gold (either in the form of ornaments, bars or coins) to avail a loan. You will not need to show any documents for your income as the loan is allowed against the security of your gold.
The amount of the loan available will be subject to the value of the gold as assessed by the lender. The borrower can borrow up to 75% of gold value.
A fixed deposit held in your name can also be used to get you a loan. The best thing about using a fixed deposit to avail a personal loan is that your deposit will continue to earn interest while you can borrow a loan against the safety of the FD. But, keep in mind that you will not be able to close the FD before paying back the loan.
If your requirement for a personal loan is for bigger amounts, you could avail a loan against any property held in your name. The loan approved depends on the market value of the property, clear title, the condition of the property, etc. The property will remain pledged to the lender till the loan is cleared.
Loans against various assets like gold, FD, or property are available from leading banks and Non-Banking Financial Companies. But you will need to keep in mind that if the loan is not repaid on time, you may end up losing your asset.
Are you looking for a personal loan to meet any of your financial needs? You could go for an easy, online loan from Moneyview without any collateral. Download our app or apply online on our website today.
Need Quick Cash?
Housewives can get two types of personal loans in India – Secured and unsecured.
In a secured loan, a housewife can offer gold or any other asset as collateral to the lender to procure a loan.
In an unsecured loan, a co-applicant with a steady income can act as a guarantor for the housewife to secure a loan she desires.
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Disclaimer
The starting interest rate depends on factors such as credit history, financial obligations, specific lender's criteria and Terms and conditions. Moneyview is a digital lending platform; all loans are evaluated and disbursed by our lending partners, who are registered as Non-Banking Financial Companies or Banks with the Reserve Bank of India.
This article is for informational purposes only and does not constitute financial or legal advice. Always consult with your financial advisor for specific guidance.
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