Woking women play an essential part in India’s workforce and contribute to the growth of the economy. However, many women don't work full-time and choose to be a homemaker. Well, they may have their reasons, but it doesn't mean they are devoid of financial support. At Hero FinCorp, we understand that financial independence is essential for women, whether it’s for handling emergency expenses, paying for children’s education, or managing home repairs. Our Personal Loans for Housewives are designed to meet the unique needs of homemakers and women without a formal salary but with the ability to manage household finances efficiently.
Personal Loans for Women were introduced to help women applicants get the financial aid they need. It is an important financial tool, especially for unemployed housewives. They don’t have a regular source of income, but they manage to do some freelance work and household businesses. With the help of this, they can secure an unsecured loan.
In case of a financial crisis, the budget might get disrupted, but you can manage it with our Personal Loan for Women.
Also Read: Are Personal Loans Bad
Women face many financial difficulties when handling the household budget. But worry not, our loan for housewife scheme helps them tackle the financial crisis, see how:
To be eligible for a Personal Loan for women, housewives need to meet a few of our criteria:
The first borrower is that they should be a resident of India. It means they can apply for our Personal Loan scheme if they prove they are an Indian citizen.
The second thing we look for in your loan application is the age limit. We have a pre-set age limit of 21 to 58 years.
The next essential eligibility criterion you need to meet is the minimum income requirement. At Hero FinCorp we have set the minimum income requirement to INR 15,000 per month.
Also Read: 7 Insightful Self-Employed Personal Loan Tips
Discover the prevailing interest rates for Personal loans for housewives, ensuring informed borrowing decisions. Below are the current interest rates offered by Hero FinCorp-
Loan Type | Interest Rate |
Personal Loan for Housewife | Upto 25% p.a. |
Here’s a list of the essential documents needed for a personal loan for housewife:
Housewives can apply for a Personal Loan with a three-step application process. Take a look below:
Go to the Google play store on your Android phone and type “Hero FinCorp Personal Loan App”. Install the application and move on to the next step.
Open the app and enter your mobile number, area pin code and Aadhaar card number to complete your KYC.
For income details, housewives earning through any freelance work or household business can show their bank statements to prove their income.
Fill in the application form and submit it.
Once you are done, we verify your application and send in our decision within 24 hours.
To sum up, a Personal Loan enhances the level of financial independence and encourages unemployed housewives to take responsibility for their finances by providing them with instant loan.
Yes, housewives can avail personal loans without income proof if they have a co-applicant with a steady income or can demonstrate other forms of income like freelancing or household businesses.
Housewives can avail loans ranging from INR 50,000 to INR 1,50,000 depending on the lender, eligibility, and co-applicant’s income.
Approval for personal loans can typically be received within 24 hours, provided the necessary documents and a co-applicant (if required) are submitted.
No, personal loans for housewives are generally unsecured, meaning no collateral is required.
While it is possible, many lenders prefer housewives to apply with a co-applicant to strengthen the application, especially if the housewife does not have a regular income.
Hero Fincorp offers a wide range of financial products including Personal Loans for personal needs, Business Loans to support business growth, Used Car Loans for purchasing pre-owned vehicles, Two-Wheeler Loans for bike financing, and Loan Against Property for leveraging real estate assets. We provide tailored solutions with quick processing, minimal paperwork, and flexible repayment options for smooth and convenient borrowing experience.