With the fast-growing business market, India has seen more women-owned businesses flourishing in its entire potential. In addition, the monetary institutions focusing on ‘women empowerment’ have empowered female entrepreneurs with the opportunity to pursue in self-owned companies. Banks and government institutions give small business loans with favourable rates for promoting women to become financially independent.If you are a female entrepreneur with the potential of a successful business, there are multiple loans offered by the banks awaiting you. The loans offered by the banks to working women are flexible regarding interest rates and collateralBelow are 5 business loan schemes offered to working women in India:
Top 5 Business Loan Schemes for Working Women in IndiaSnneha Lukaa October 28, 2019
1. Annapurna Scheme
This scheme offered by the banks is for women entrepreneurs pursuing the catering and food enterpriseRs. 50000 will be offered as the loan amountThree years will be the loan repayment periodAfter the loan repayment, the strategy avails with one-month’ complimentary EMI’ period’s advantageFor availing this loan, the guarantor and resources as collateral are requiredInterest rate are applied in accordance with the current market prices.
2. Cent Kalyani Scheme
This scheme is offered under central banks of India.Women engaged in agriculture, cottage industries, small and medium businesses, government-sponsored programs and trade can avail this loan.Interest rate are applied in accordance with the current market prices.
3. Mahila Udyam Nidhi Scheme
This scheme is launched by Punjab National Bank.Small-scale entrepreneurs can profit from this strategy.10 lakhs is the loan amount offered.You may repay the loan at a ten-year span.Interest rate are applied in accordance with the current market prices.
4. Stree Shakthi Package
This package is offered by every branch of the country bank.It is only applicable if you have 50 percent of the company or the company.In case the loan you took is more than Rs.2 lakhs, you will get 0.5% allowance to the interest prices.Only those who’ve been in Entrepreneurship Development Programs can apply for this package.
5. Dena Shakti Scheme
The women entrepreneurs could be benefited with the monetary assistance provided by Dena Bank.They’ve pay-to-pay 0.25 percent less on their investments.Those engaged in businesses, retail shops, agriculture, micro-credit, and manufacturing can avail this loan.
The above-mentioned loan schemes are available to working women in India according to the fulfilment of eligibility criteria and other factors. Special business loans are offered for catering the different need of working women, like buying cars, running a dar care center, salons etc. and different rates of interest are applied according to current market conditions. Willing borrowers can check out small personal loan offered by private lender like Upwards.Upwards is India’s quickest personal loan provider for salaried individuals looking for short-term loans between Rs.15000 – Rs.50000 with tenure of 1 year. They provide hassle-free personal loans to all job profiles like teachers, software engineers, accountants, retail store employees, nurses and more who draw a minimum salary of Rs.15000.