Multiple banks. Different interest rates. Call it a "conflict of interest".
  • Small Business Loans for Women is Rated as "Great!" by 99568 Users

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    Small Business Loans for Women

    Women nowadays are capable of running their own show and they don’t necessarily need men in the household to take care of the household expenses and to run a business or to pay the bills. Women do everything on their own. They can handle any kind of work and are very strong-willed when it comes to proving to the society that they can handle the work. Providers have realised this and are offering Small Business Loans for women who have a successful business but need a little financial help.

    The financial institutions have come up with schemes that are exclusively framed for women entrepreneur. Such schemes have relaxed terms and conditions and rate of interest and collateral security. Some financial institutions have also set up a cell within their branch to counsel and train the women entrepreneurs to promote and market their business.

    Types of Small Business Loans offered for Women in India

    The various loan schemes offered to women entrepreneurs for their small business are as follows:

      Cent Kalyani Scheme

      This scheme is offered by Central Bank of India. Women can avail loan to start a new venture. The loan is offered to new as well as experience business owners, self-employed and professionals. Even those who have engaged in the agricultural and allied activities and in village and cottage industries can avail loan under this scheme.

      Stree Shakti package for women entrepreneurs

      This scheme is offered for women who have 50% ownership in the small business. Eligibility to get this loan is that the women entrepreneur has to pursue the Entrepreneurship Development Programmes (EDP) organized by the state agency. The necessary assistance will be provided and you will get an interest concession of 0.05%. The interest concession can be availed on loan above Rs.2 lakhs.

      Dena Shakti Scheme

      This scheme is offered by Dena bank to promote female owned businesses by providing financial assistance. The loan can be availed at 0.25% interest concession. The loan is offered to women engaged in manufacturing, agricultural and allied activities. Even women running small enterprises, micro-credit or retail stores can take loan under this scheme.

      Annapurna scheme

      Eligibility criteria is that the women entrepreneur has to run individual business or partnership firm. The loan is offered to women who has an established food catering unit. The maximum loan that you can get is Rs.50,000. The loan can be repaid in 36 instalments. The loan amount can be used to purchase utensils, water filters and other kitchen equipment. You will however be needing a guarantor to secure the loan. Interest rate is set as per the prevailing rates and you will have to submit assets as collateral with the bank.

      Udyogini Scheme

      This scheme is offered by Punjab and Sind Bank to motivate women entrepreneur to obtain loan on low interest rate and on liberal terms to establish small scale industries. This loan is also available for retail traders and self-employed women entrepreneurs.

      Mahila Udyam Nidhi Scheme

      This scheme is offered by Small Industries Development Bank of India to provide financial assistance of up to Rs.10 lakhs to the female entrepreneur to set up a new venture in small scale sector.

    Small Business Loans for Women Reviews

    • ICICI Bank Personal Loan
      "Optional personal loan"
      0.5 3.0/5 "Satisfactory"
      In the year of 2007, i have taken my personal loan from ICICI. They were good in processing the loan and they do charged me a processing fee of Rs, 1000 and otherwise i found everything is fine. The amount automatically has been deducted from my salary account. I'm not aware of the interest rates provided by them.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 16, 2019
    • Citibank Personal Loan
      "Not affordble by common people"
      0.5 4.0/5 "Great!"
      The way process the loan was not too bad. Since i hold a salary account with them, i have chosen the CITI bank personal loan. The other 2 more months for closing the loan and i thought of wrong choice of choosing the CITI bank loan. Interest rates are comparatively higher than the market rates and they have charged me a Rs. 1000 as processing fee.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 16, 2019
    • IndusInd Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been applied for personal loan with Indusind bank.They have given me good loan amount based on requirement they have given me good loan amount, and the rate of interest they have charged me was up to 12% it is nominal compare to other bank,and that time there was offer that zero processing fee,and the loan was on time.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Feb 16, 2019
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been using bank bazaar service for first time, I came to know about their service through on line, like i use to see in promotional advertisement in face book or in television, and i have been using website it is easy to access.Their overall service is good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 16, 2019
    • IDFC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have recently applied for personal loan with IDFC bank. The loan amount which they have given me was good, based on my requirement they have given me good loan amount, and the rate of interest they have charged me up to 11.25% which is nominal,and they have charged me processing fee up to 7000 that too was nominal,Their overall service is good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 16, 2019
    • Citibank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I am happy with CITI BANK services as my request was addressed and was taken care by them. When comparing with other banks the interest rate was nominal. The whole application process was easy and hassle free. It was a really fast personal loan experience.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 16, 2019
    • Axis Bank Personal Loan
      "Interest rate should be reduced"
      0.5 3.0/5 "Satisfactory"
      I took one loan from AXIS bank, the interest rate is average, I believe I got the principal with the interest of 16% and above. The executive are good, they door step service was there. I took the loan for 48 months, the bank gave me the part payment and foreclosure option.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 16, 2019
    • Axis Bank Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with AXIS bank and it was a very good experience, the loan amount was based on my requirement and the rate of interest was nominal when compared to other banks. Customer service was good and they collected documents on time.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 16, 2019
    • Bank Bazaar Personal Loan
      "Best service"
      0.5 4.0/5 "Great!"
      I came to know about bank bazaar service through on line,like i was checking for my credit report and i have applied through it, and i am happy with their service, i have been using this bank bazaar service beyond one year, and i have been using mobile application it is user friendly application.
      Was this review helpful? 2
      , bangalore
      Reviewed on Feb 16, 2019
    • Tata capital Personal Loan
      "Average service"
      0.5 3.5/5 "Pretty good"
      I have applied for Tata capital for an personal loan .Their was clear misunderstanding between the bank, like i have applied for 2,50,000 as an personal loan and they thought i am asking for an top up so they have given me just 1,50,000 ,and 1,00,000 they took as closure of that loan, and the rate of interest they have charged me 10.99% which was nominal,and even processing fee they have charged me was nominal, and the loan was on time.
      Was this review helpful? 2
      , bangalore
      Reviewed on Feb 16, 2019
    • IDFC Bank Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with IDFC bank from last 5 years, the loan amount was for Rs 6 lacs with tenure period of 5 years. Customer service was good and they collected documents on time. The rate of interest was nominal when compared to other banks.
      Was this review helpful? 1
      , mumbai
      Reviewed on Feb 16, 2019
    • ICICI Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken this loan yesterday where the experience i had was quite awesome. They had called me up and offered me with a loan where i went through the iMobile application and it has just taken 2-3 minutes in getting this loan. The interest rate which they offered is around 13.99% and the tenure period is for five years.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 16, 2019
    • IndusInd Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been applied for Indusind bank personal loan recently. And i am not happy with the loan amount which they have given me , as i required up to 5,00,000 but they have given me less, and the rate of interest they have charged me up to 11% which is nominal ,and they have not charged me processing fee, and there was quite delay in getting my loan, it took around 1 month to getting loan.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 16, 2019
    • Citibank Personal Loan
      "Instead of top up they can provide new loan"
      0.5 4.0/5 "Great!"
      CITI bank personal loan have only top up facility. The interest rates were fair and the processing fee was 1% which is good. They have sanctioned the loan within few hours. I have not faced any issues in this loan. Total tenure period of the loan is 14 months.
      Was this review helpful? 1
      , bangalore
      Reviewed on Feb 16, 2019
    • HDFC Bank Personal Loan
      "Reduce the interest rate"
      0.5 5.0/5 "Blown Away!"
      HDFC interest rates are more compared to other bank but we can able to get the loan in seconds by using their app. The service has been fantastic. They have offered me a rate of interest which is 11% but they have increased upto 17% which is showing in the app and they are providing the loan without any documents.
      Was this review helpful? 2
      , bangalore
      Reviewed on Feb 16, 2019
    • RBL Bank Personal Loan
      "Friend in need"
      0.5 5.0/5 "Blown Away!"
      RBL personal loan services are fantastic. The loan is getting over in few months. They have sanctioned the loan immediately and they have given me loan amount of my credit limit. Total tenure period of the loan is 12 months. Interest rates are fine and processing fee was 2% which is too high. I never had any issue with them.
      Was this review helpful? 2
      , bangalore
      Reviewed on Feb 16, 2019
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been using Bank bazaar service for first time,and i came to know about bank bazaar service through on line, and the best part in this service is that in one click they response me well,and i have downloaded mobile application it is easy to access.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 16, 2019
    • HDFC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with HDFC bank and my experience was good, the loan amount was sufficient and the rate of interest was nominal when compared to other banks. Customer service was good and they responded on time. Tenure period for this loan is 5 years and i preclosed the loan in 3 years with nominal preclosure charges.
      Was this review helpful? 2
      , bangalore
      Reviewed on Feb 15, 2019
    • review Personal Loan
      "Not satisfied with the service "
      0.5 1.0/5 "Really Bad"
      Based on my previous experience with Bajaj for consumer loan based on that i have taken personal loan where they given some high rate of interest than what they promised for. They have high charges for the processing and documentation . Overall am not happy with their financial service.
      Was this review helpful? 1
      , chennai
      Reviewed on Feb 15, 2019
    • ICICI Bank Personal Loan
      "Best financial Service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan from Icici bank . Am satisfied with the rate of interest which they have provided . There is processing fees for the loan which is nominal one and its been refunded . I make the payments through Ecs every month . They gave the tenure period of 2 years . They did quick documentation and received the loan.
      Was this review helpful? 2
      , chennai
      Reviewed on Feb 15, 2019
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