Personal loan by type
Personal Loan for Women.
A handful of lenders offer a modest rate discount for women — genuinely worth knowing, though rarely the biggest lever on your final rate.
- Principal amount
- ₹5,00,000
- Total interest
- ₹93,568
- Total amount
- ₹5,93,568
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹1,47,996 | ₹49,860 | ₹3,52,005 |
| 2 | ₹1,65,940 | ₹31,916 | ₹1,86,063 |
| 3 | ₹1,86,063 | ₹11,793 | ₹0 |
Being honest about the discount
SBI and Bank of Maharashtra offer around 0.05% lower personal loan rates for women — real, but small. Bigger discounts (around 0.5%) show up more often on business loans and loans against property for women entrepreneurs, tied to priority-sector lending incentives. For a plain personal loan, your credit score and employer category will move your rate far more than this discount will.
Frequently asked questions
Do women get a lower personal loan interest rate in India?
At some lenders, yes, but the discount is typically modest — SBI and Bank of Maharashtra, for example, offer about 0.05% lower rates for women applicants on personal loans. It's a real but small benefit; it won't outweigh a stronger credit score or employer category as the bigger driver of your final rate.
Are there other loan products with bigger discounts for women?
Yes — the discount tends to be larger on secured or business-purpose loans than plain personal loans. For example, some NBFCs offer a meaningfully bigger rate concession (around 0.5%) for women borrowers on business loans and loans against property, reflecting government-backed priority-sector lending incentives for women entrepreneurs.
Should I choose a lender based on the women's discount alone?
No — compare the full picture: base rate, processing fee, and tenure flexibility across lenders first, since a 0.05% discount at one bank can easily be outweighed by a 1-2% better base rate elsewhere. Use the Compare Personal Loans tool to see where you'd actually come out ahead.