Top 7 Business Loan Schemes in India for Women

business loan in India for Women

With the rapidly growing economy in India, the business world has witnessed more women-owned businesses thriving in its full potential. Moreover, the financial institutions focusing on ‘woman empowerment,’ have provided the female entrepreneurs with an opportunity to grow in self-owned businesses. Special business loans with lucrative rates have been offered by the banks to encourage women in becoming financially independent.

If you are an aspiring entrepreneur and sport all the potential of doing well with your business, then there are special loans offered by the banks solely waiting for you. The loans provided by the banks are flexible regarding interest rates and collateral. Below are top 7 business loan schemes for women in India.

  1. Annapurna Scheme
  • This scheme offered by the banks is for women entrepreneurs pursuing the food and catering business.
  • 50, 000/- is the maximum loan amount offered.
  • Three years is the loan repayment period.
  • After the loan repayment, the scheme avails with the benefit of one-month ‘free EMI’ period.
  • The guarantor and assets as collateral is required for availing this loan.
  • As per the current market rates, the rate of interest is applied.
  1. Stree Shakthi Package
  • Every branch of state bank offers this package.
  • It is only applicable if you own 50% of the business or the company.
  • If the loan you took is more than Rs.2 lakhs, you will get 0.5% allowance on the interest rates.
  • Those who have been the part of Entrepreneurship Development Programs can only apply for this package.
  1. Bharatiya Mahila Bank
  • Bharatiya Mahila Bank encourages women to start their own business.
  • It offers several types of business loans for women entrepreneurs like MICRO loans, retail loans, SME loans, and loan against property.
  1. Dena Shakti Scheme
  • The women entrepreneurs can be benefitted with the financial assistance provided by Dena Bank.
  • They have pay-to-pay 0.25% less on their interests.
  • Those engaged in small enterprises, retail stores, agriculture, micro-credit, and manufacturing could avail this loan.
  1. Udyogini Scheme
  • Punjab and Sind Bank offers this scheme.
  • With flexible tenures and lower returns, it makes it favorites amongst the women entrepreneurs.
  • Those engaged in small enterprises, retail and agriculture could avail this loan.
  1. Cent Kalyani Scheme
  • This scheme works under Central Bank of India.
  • The self-employed women engaged in agriculture, cottage industries, small and medium enterprises, government sponsored programs and retail trade can avail this loan.
  • As per the current market rates, the rate of interest is applied.
  1. Mahila Udyam Nidhi Scheme
  • Punjab National Bank has launched this scheme.
  • Small-scale entrepreneurs can benefit from this scheme.
  • 10 lakhs is the maximum loan amount offered.
  • You can repay the loan in a ten-year span.
  • As per the current market rates, the rate of interest is applied.
  • Special loans are offered catering day care centers, beauty parlors and buying automobiles and different rates of interest are applied for different loans.

The above-mentioned business loan schemes are available for women in India based on fulfillment of eligibility criteria and other factors. Willing borrowers can check out unsecured business loan offers on by comparing top banks and NBFCs today.

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