As rightly said, “Power’s not given to you. You have to take it”. Women in India have come a long way to become independent. They are an active contributor to not only the society but have greatly benefited the economy as well. Today, ~14% business in India are run by women. But, did you know that 79% of those businesses are self-financed? Being able to self-sustain a business is great but, it also means that a lot of women in India are unaware of the various schemes and benefits available to them.
India has recognized the importance of Women entrepreneurship in India and hence, the government of India has taken a plethora of initiatives that can help women realize their dreams. Some of the government-run schemes include:
- Annapurna Scheme: aimed at providing loans to women wanting to set-up a business in the food and beverage industry
- Stree Shakti Package for Women Entrepreneurs who have 50% ownership in a business or a firm
- Pradhan Mantri Rozgar Yojana (PMRY) which provides employment opportunities to Indian citizens with a preference given to women beneficiaries
- Mudra Yojana Scheme for Women aimed at providing loans to women wanting to start a small business. The financial aid under this scheme ranges from INR 50,000 to INR 5,00,000 depending.
Apart from the above initiatives, there are numerous financial and Non-Banking Financial Institutions (NBFCs) like Finserv MARKETS that offer a variety of Bajaj Finserv Personal Loan products that can help women achieve their goals and objectives. One such product that can greatly benefit today’s women is the availability of flexible personal loan schemes.
These type of loans come with a variety of benefits such as:
1.Interest only EMI:
You only need to pay the interest component of your loan as the EMI during the initial tenure thereby, lowering the immediate financial burden and helping in better financial planning
2.Flexi Repayment Schedules:
Let’s illustrate this with an example. Anita, a young entrepreneur in Mumbai has availed a personal loan of INR 5,00,000 @13.5% interest for a tenure of 60 months. Under this this kind of a personal loan, Anita will only be required to pay an EMI of INR 5,548 i.e. the interest during the initial tenure. What’s more? Anita will have the flexibility to make part payments without any additional charges or penalties!
An individual availing a loan under this scheme can make unlimited withdrawals from the loan account limit
4.No collateral requirement:
These loans come with no collateral/guarantor requirements
Be it entrepreneurship or a corporate leadership role, women today are leading the charge on all fronts. Hence, it is imperative that there are enough opportunities available in the market to support their financial needs and help them realize their true potential.
With Finserv MARKETS, availing a Bajaj Finserv Hybrid Flexi Personal Loan is easy, convenient and completely hassle-free. What’s more? The entire process is online and can be availed right from the comfort of your home. So why wait? Avail a Hybrid Flexi loan with us on Women’s day and turn your dreams into reality.
Also, read about personal loan tax exemptions.
Read more about Government Loan Schemes for Women
Finserv MARKETS, from the house of Bajaj Finserv is an exclusive online supermarket for all your personal and financial needs. Loans, Insurance, Investment and exclusive EMI store, all under one roof- anytime, anywhere!