Special Offers On Loans For Women

By Sanesh Mathew | March 11, 2017

Special Offers On Loans For Women

Unlike earlier times, women today are better off when you consider the huge changes that have taken place as far as employment, independence and responsibilities at home are concerned. Even when it comes to managing finances, women have started to play an important role.

And, as a means of empowering them towards taking charge of financial decisions independently, banking institutions are offering a lot of benefits for women on Home Loans, Car Loans and Personal Loans.

Some of these benefits include reduced interest rates, flexible repayment options and a hassle-free application process. There are also special women-centric Credit Cards and bank Savings Accounts available.

Here are some of the special offers on loans offered by top financial institutions exclusively for women:

Home Loans

Today’s women are certainly capable of owning their own home irrespective of whether they are married or not. In fact, most women consider buying a house as a bigger priority than getting married.

Additional Reading: Did You Know About These Tax Benefits on Home Loans?

If you have plans to get your own home, you may want to consider a Home Loan from one of the banks mentioned below.

ICICI Bank Home Loan

Getting yourself a housing loan from ICICI bank is quick and hassle-free. You can avail attractive floating and fixed interest rates, a simple and smooth documentation process and a plethora of other such benefits.

While the interest rate for general borrowers ranges from 8.70% to 8.85%, the special interest rate applicable to women borrowers ranges from 8.65% to 8.80%.

Other features include:

  • The processing fee is 0.50% of the loan amount or Rs. 11,500, depending on which is lower
  • Loan tenures range from 3 years to 30 years
  • No guarantor is required for the loan
  • No pre-closure and part payment fees are levied by the bank

SBI Home Loan

SBI Home Loans are among the most sought-after loans thanks to their low interest rates, zero hidden charges and flexible loan repayment options.

Besides, SBI offers a wide range of housing loans to their customers, such as the SBI MaxGain Home Loan, SBI Yuva Home Loan, SBI NRI Home Loan, SBI PAL and the SBI Her Ghar Home Loan (exclusively for women).

Women applicants can enjoy low interest rates ranging from 8.60% to 8.65%, provided they are the sole applicant or one of the co-applicants. For general customers, the interest rate is in the 8.65% to 8.70% range.

Other features include:

  • No processing fees
  • Loan tenures up to 30 years
  • No pre-closure or part payment fees
  • No guarantor required for this loan

HDFC Home Loan

Housing loans from HDFC bank are quite popular among serious loan seekers in the country. They are known for their competitive interest rates, customer-friendly loan repayment options, and complete transparency with regards to application, approval and charges.

The current rate of interest offered by the bank starts from 8.70%. However, women borrowers get a discount of 0.05%, so the rate of interest applicable to them starts from 8.65%.

Also, there is a special offer going on till the 31st of March, 2017, during which the interest rate is at 8.50%.

Other features include:

  • The processing fee is 0.50% of the loan amount or Rs. 11,500, whichever is lower
  • Loan tenure up to 30 years
  • No pre-closure and part payment fees
  • No guarantor required for the loan

Car Loans

Women, after all, make for better drivers than men (at least according to a few recently conducted surveys). If you’re planning on buying a new car, we’ve found two amazing Car Loan offers with special discounts just for you.

Additional Reading: 7 Things To Consider Before Applying For A Car Loan

Dena Bank Car Loan

Dena Bank auto loans are affordable and easily available too. The bank is also known for fast loan approvals and quick processing as well.

As far as interest rates are concerned, women applicants get to enjoy a special rate of 9%, while an interest rate of 9.10% is applicable for general borrowers.

Other features include:

  • A processing fee of Rs. 575 is applicable
  • Loan-to-value (LTV) ratio is up to 85% of the vehicle cost
  • No pre-closure fee or part payment fee

Oriental Bank of Commerce (OBC) Car Loan

OBC is a public sector bank, which provides financing for any car – both new and second hand – available in the market. The Oriental Bank of Commerce is known for providing Car Loans at low interest rates, zero loan processing charges, high loan amount and substantial repayment tenure.

Women borrowers get a special interest rate of 9% as compared to the 9.10% interest rate applicable to general borrowers.

Other features that would interest you include:

  • No processing fees
  • No pre-closure charges
  • If you earn Rs. 20,000 (gross income) a month, you are eligible to apply for OBC’s Car Loan

Something Extra!

Thinking about savings? If a Savings Account is on your mind, you can check out IndusInd’s Indus Diva Saving Account. This exclusive savings account for women comes with a Platinum Plus Debit Card, locker service at a discounted fee and free add-on accounts for family members.

All information including news articles and blogs published on this website are strictly for general information purpose only. BankBazaar does not provide any warranty about the authenticity and accuracy of such information. BankBazaar will not be held responsible for any loss and/or damage that arises or is incurred by use of such information. Rates and offers as may be applicable at the time of applying for a product may vary from that mentioned above. Please visit www.bankbazaar.com for the latest rates/offers.
Category: Car Loans Home Loans

About Sanesh Mathew

A talkative sleepyhead, Sanesh, enjoys watching horror movies, listening to music, reading all things related to personal finance and wandering aimlessly (walking meditation, he calls it!). He refers to himself as a 'simple human being with a rather chaotic mind'.

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