BOB Housewife Personal Loan

BOB housewife personal loans can help housewives pursue higher education, start a small business, renovate their homes and meet a host of other personal expenses. The bank offers up to 20 lakhs of personal loans, which can be comfortably repaid in as many as seven years. Along with benefits like digital applications, minimum documentation and quick disbursal, the bank puts no restrictions on using the loan amount. Additionally, salaried and self-employed women can also apply for the loan. 

A housewife, with or without prior work experience, can easily get a personal loan through Urban Money. All they need is a co-applicant with a steady income who can take the responsibility of loan’s repayment. Read on to find the complete details of the BoB homemaker personal loans and how you can avail of one. 

BoB Personal Loan for Housewife – Highlights 

The BoB women’s personal loan offers the following features to its borrowers:

Loan Amount	Up to 20 lakhs
Instant Disbursal via Digital Application	Up to 10 lakhs
Interest Rate	Starting at 10.35% p.a.
Types of Interest Rate	Fixed and Floating
Loan Tenure	Up to 7 years
Collateral Requirement	NIL
Pre-Approved Loans	Available
Co-Applicant	Required

Comparing BoB Housewife Loan With Other Banks

Take a look at how the BoB homemaker personal loan compares with other banks and NBFCs.

Lender	Interest Rate (p.a.)	Loan Tenure
HDFC Bank	10.50% onwards	6 years
Citibank	10.75% onwards	5 years
Kotak Mahindra Bank	10.99% onwards	6 years
Bajaj Finserv	11% onwards	8 years
KreditBee	16% onwards	2 years

BoB Personal Loan for Housewife – Fees and Charges 

Certain additional fees and charges are applicable on these loans apart from the BoB women’s personal loan interest rate. Take a look at these charges:

1. Processing Fee: A processing fee of 1-2% (plus GST) is applicable on personal loans. The bank also offers concessions on processing fees.
2. Goods and Services Tax: An 18% GST applies to all loan-related services.
3. Penal Charges: A 2% penalty on outstanding loan amount is charged by the bank
4. Other Charges: These include charges like stamp duty and document verification charges.

BoB Personal Loan for Housewife – Documents Required

The BoB women’s personal loan document requirements are as follows:

1. Mandatory Documents: Duly filled loan application with 3 passport-size photos and Form 135
2. KYC Documents: Aadhaar Card/ Utility Bills/ PAN Card/ Voter’s ID and other accepted documents
3. Co-applicant’s income details: Bank Statements/ IT filings/ Balance Sheet and P&L accounts
4. Other documents specified by the bank

BoB Personal Loan for Housewife – Eligibility Criteria

 Here is the BoB women’s personal loan eligibility criteria:

• Age Limit: 21-65 years
• Eligible Candidates: Housewives with a co-applicant/ Salaried Women/ Self-Employed Women
• High Credit Score