Hi there. I am an employee at a private bank and would like to know can a housewife get a personal loan. The answer is yes, as a housewife, you can get a personal loan from India. You can get two types of loans: secured and unsecured loans. You can directly approach the bank branch or even apply online. Let me tell you more about the secured and unsecured loans you can take.
Can a Housewife Get Personal Loan?
Here are two types of personal loans that a homemaker can get:
Secured Loan
This type of loan is provided when the applicant offers security to the lender. This security, called the collateral, can be an insurance policy, gold, fixed deposit or even a property. In case the borrower defaults on the loan repayment, the lender can seize the collateral to clear the outstanding loan amount.
Unsecured Loan
Some banks and NBFCs offer personal loans with no collateral. But, there is a catch to this. Lenders only provide such a loan after assessing the credit history of the applicant. If the person doesn’t have enough income, they’ll need a co-applicant to have a stable income. If there’s a case where the housewife has insufficient income, her husband can become the co-applicant, given he has a stable income.
This is all I have to share with you. I hope you now know can housewife get personal loan.
Get an Instant Personal Loan Disbursal Into Your Account Via NB InstaCash! Some related information:Can a Housewife Apply for a Home Loan?
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Authors Of The Question
Can a Housewife Get a Personal Loan?
jairam
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57 days
2024-10-01T23:35:24+00:00 2024-10-29T00:05:21+00:00Comment
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