Personal Loan for Women

No Collateral I Up to Rs. 45 Lakhs I Tenure up to 60 months​

4 reasons to choose our Personal loan

LOAN OF UP TO Rs. 45 Lakh




A loan for all your goals







The 21 st century has witnessed a tremendous change in the roles of women. In our present-day society women are not confined to the four walls of the house and neither her responsibilities restricted to only rearing children, looking after family and doing household chores.

Women of 21 st century have dared to go beyond the corridors of their house and fulfill financial needs of their family. Understanding the women’s urge for financial independence and reckoning their potential and contribution to the society and the mainstream economy, most lenders have started giving loans exclusively for women.

Eligibility criteria

• Nationality: Indian
• Intrest Rate: Interest rate starts from 10.99% (may differ from lenders to lenders).
• CIBIL Score: 700 or higher
• For Salaried: Minimum 12,000/- per month. For self-employed: a minimum yearly profit after tax determined based on profession/industry.
• Age: 21 years to 70 years*
*Higher age limit is applicable at the time of loan maturity.


• Duly filled and signed application form.
• KYCs- Identity Proof and Address Proof.
• Last 6-12 months bank statement..
• Salary Slips- for employed (last 3-6months) .
(The additional documents requirement may vary from lender to lender).

DO’s and DON’Ts of personal loans

If you are applying for personal loan it is clear that you are undergoing a financial crunch.But here are some aspects you should keep in mind if you are applying for a personal loan just to ensure that you not only avail the loan but alsothe benefits that lenders offer to their customers.

Here’s a list of some DO’s and DON’Ts you should consider while making the final decision to take a personal loan:

1. Know your Credit Score before applying for Loan: This is the first and foremost step which customers are usually unaware of or simply ignore. Know your credit score before you apply for loan as lenders determine your creditworthiness on the basis of your credit score. A good credit score (750 and above) help lenders buildtrust on you and makes it easy for lenders to decide upon the loan amount to be approved and the interest rate on it.

2. Check various Loan offers available in the market: Since there’s a plethora of options of lenders offering loans in the market today, therefore it would be wiser on your part if you check and compare various loan offers to have the best deal. What we would suggest our customers; you should first visit your own existing bankers and lenders and know the offer, its features and the availability of loan you are looking for. If you are not satisfied, then we at Mantra, can offer you a host of options to meet your financial needs.

3. Check the interest rates: Always remember that the calculation of EMIs includes both principal and interest. Therefore, always check the interest rates offered by the lenders before applying. For your convenience we have provided a comparative chart of rate of interest offered by various lenders where you can easily compare and choose the one that suits your paying capacity. For more details you can visit

4. Look for loan tenure suitable to your repayment capacity: If we talk about loan tenure then it is the specified period for which you take loan and within which you have to repay the loan amount to your lender. Shorter the loan tenure, higher will be the EMIs but lower the interest cost. Therefore, plan for loan tenure as per your repaying capacity.

5. Check your Eligibility for the loan and the required documents: Another important step before finalizing any lender for the loan is to finding out your eligibility and the documents required for it. Checking your eligibility will help you save time as it will make it clear to you which option you should choose without much wandering. What we suggest, that will definitely help save your time as here we will provide you a tentative list of required documents and eligibility criteria common to most banks and NBFCs.

1. Don’t apply without calculating the required credit amount: Before applying for a personal loan make sure that you have calculated well the impending expenditure and then apply accordingly.

2. Avoid applying to multiple lenders simultaneously at the same time: When you submit your application to lenders, they will put up an enquiry request to fetch your credit score from the credit bureaus to know your credit worthiness. Such enquiries initiated by the lenders are considered as hard enquiries and it severely affects your credit score. Why? Because each time when such enquiries are initiated by the lenders to the credit bureaus, it gives an impression that you are a credit hungry person and your credit score will get affected. This will reduce your loan eligibility thereby making it difficult for you to avail a loan. How would Mantra help you? At Mantra, we will first fetch your credit score. Once you get your credit score in hand, you will be in a position to decide your eligibility, the loan amount you can get and the lender you should go for.

3. Don’t take loan to fund non-essential expenses: Since there is no restriction on the end use of the amount you get in a personal loan, hence you have to be very careful about how you use it. Avoid taking a loan unless you really need to meet a financial emergency. Because remember taking loan is not just about having the funds in your account but involves a monetary commitment and the discipline to do timely repayments.

4. Don’t forget to read the Terms and Conditions: Once you have decided to go for a loan don’t forget to read all the terms and conditions before finalizing the loan. Be clear about the interest rates, the repayment schedule, the EMIs, the insurance and other charges. Ask your lender if you are not sure or unclear about any term or condition. You can also take help of a financial advisor to guide you.

Frequently asked questions

As is evident from the name, any Indian women of the age 21 years can avail this loan.

 The interest rate on personal loan for women is dependent on multiple factors like income of the borrower, credit score, credit history, amount of loan applied for, and more. Starts from 10.50%.

Income: The higher the income of an applicant the better chances of loan approval with an advantage of availing the loan at lower interest rates.

Occupation: For lenders, source of income is very essential to determine the creditworthiness of an applicant. Depending upon whether the applicant is salaried or self- employed, the financial institutions determine the interest rates.

Age:The minimum age to avail any loan is 21 years for both men and women.

Credit Score: A good and healthy credit score is essential to prove your creditworthiness to the lenders. Most lenders prefer a credit score of 700 and above.

Once your application is submitted along with your documents it can take anywhere between 1-7 days for approval and just a couple of days more for disbursal.