Employees - Working Women

Easy Access Simple eligibility criteria, logical documentation and quick processing.

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Know Your Group Know the details of other members of your group to assess the individual risk.

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Pay at your convenience Internet banking, Debit card, or request for FREE cash pick-up.

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Online Auctions Participate in monthly scheduled auctions from anywhere in the world.

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Quick Disbursements Loan disbursement within 7 business days of submitting required docs.

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Professional Networking Connect with like minded professionals and leverage the contacts.

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Women in our society are expected to play dual roles – primarily a home maker but sometimes even lend a financial helping hand to the family. Generally, parents spend on higher education of the girl child but wouldn’t anticipate anything in return. Once the formal education is completed, most parents would stay focused on getting their girl child married. However, most girls prefer to take up a job and would like to save before their marriage in the shape of gold and jewellery. This is primarily because of the fact that girls by default like to flaunt gold. Furthermore, one of the major components of marriage expenditure is the gold that is offered during a wedding ceremony. Typically, a girl avails personal loans to buy gold so that there is a monthly commitment that can be met from salary. Women like to have forced savings in this format as they are most vulnerable to impulsive buying. Even parents get tempted to avail gold loans by pledging these assets in case of emergencies. Alternatively, they would opt for an expensive marriage loan and hope to repay it through installments over a period of time.

Women in the knowledge sectors are fairly compensated for their work and hence they would like to advertise by appearing trendy. Frequent outings, impulsive buying of accessories, and staying connected through social networking puts additional pressure on them to shop till they drop. Credit cards come in very handy and are charged regularly to stand apart. Convenience covers up all the hidden costs of borrowing and this erodes their savings potential. Even personal loans availed for the purpose of buying gold comes at a higher cost as it is unsecured in nature. None of these well educated women care to check the interest rates at which they are using these financial facilities. This is very much prevalent before marriage as most girls do not have much financial burden and hence insensitive to interest rates at the time of borrowing. Savings are seldom in financial products as they cannot be exhibited.

But the situation will change dramatically post-marriage as they are expected to extend financial support. Moreover, they may need to go stay away from job while they are in the family way. Just like a family can be planned, even a financial life can be planned. This is because for a lady the income slows down or even stops but household expenditure keeps mounting after marriage. Women like to be on their own financially in general and those serving knowledge sectors in particular have a greater penchant to stay dangerously independent. Furthermore, the career path of a lady is quite different from that of a man. Sometimes, women need to change jobs because they would prefer to give full time attention to the kids. This also means staying away from job for an extended period of time warranting fresh investment in learning. So women need to enroll into new short-term crash courses to stay retooled to up-skill themselves else employability is at stake. They need to shy away from convenience products like credit cards and personal loans and look for a financial instrument that is more promising and less demanding in terms of monetary costs. If we save regularly and meet a planned financial expenditure of raising kids it becomes less stressful financially. Group Funds are the most appropriate as they provide greater flexibility to save and borrow simultaneously and optimally.

 

 

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