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Mint
5 days ago
- Business
- Mint
Women-specific personal loans 2025: Interest rates, features and eligibility
Although personal loans that have been crafted specifically for women are the most essential tools for financial empowerment and independence these days in the ever-changing financial industry, they promise flexibility, convenience, and assistance across a spectrum of endeavours in life, including those that meet the specific financial needs and goals of women. The loans are unsecured loans; therefore, women-specific personal loans are targeted at the different financial needs of an individual from their institutions. A few of the intended purposes might include education, starting your own business, unforeseen medical expenses, remodelling your house, or even during celebratory periods, such as weddings. Unsecured financing: These loans are available to women who would not have borrowing power otherwise, as they are collateral- and guarantee-less loans. These loans are available to women who would not have borrowing power otherwise, as they are collateral- and guarantee-less loans. Competitive interest rates: In order to provide avenues for financial inclusion, many lenders have historically offered better interest rates for loan applicants who are female as proof of their creditworthiness. In order to provide avenues for financial inclusion, many lenders have historically offered better interest rates for loan applicants who are female as proof of their creditworthiness. Flexible repayment options: Since loans can be scheduled between 12 months to 60 months, women have the ability to choose a repayment plan depending on their goals and financial condition. Since loans can be scheduled between 12 months to 60 months, women have the ability to choose a repayment plan depending on their goals and financial condition. Speed of disbursement and minimal documentation: Money is quickly released and approved because of lesser documentation and a simpler application procedure. To guarantee rapid financial assistance, many institutions provide immediate loans to their ongoing clients. Because lending standards are set by individual lenders, eligibility requirements may vary from one lender to the next, but typically include: Age: Generally, applicants fall in the range of 21-60 years of age, Employment: Applicants could be self-employment or salaried and could qualify independently if they can show stable earning income, Income: Generally, they may mention a minimum earning requirement of a ₹ 15,000 per month, Credit score: Your credit score has a better chance of getting approved with a good credit score generally referenced as above 685. Banks Interest rates Processing fees SBI 10.30% - 15.30% Up to 1.50% HDFC Bank 10.90% p.a. - 24.00% p.a. Rs.6,500 + GST HSBC Bank 10.15% p.a. - 16.00% p.a. Up to 2% ICICI Bank 10.85% p.a. - 16.65% p.a. Up to 2% IndusInd Bank 10.49% p.a. onwards Up to 3.5% onwards Kotak Mahindra Bank 10.99% and above Up to 5% IDFC First Bank 10.70% p.a. onwards Up to 2% Note: The interest rates may vary from borrower to borrower, as banks assess applicant's profile depending on the employment, income and credit score. Research and compare: Review the lenders and compare between lenders to see who has the better lending options for you. Review the lenders and compare between lenders to see who has the better lending options for you. Verify your eligibility: Verify you are meeting all of the requirements laid down by the lender. Verify you are meeting all of the requirements laid down by the lender. Documentation : Aside from your identities, proof, existence of address; proof of income, statements from your bank accounts. Aside from your identities, proof, existence of address; proof of income, statements from your bank accounts. Apply: You can apply at the lenders branch, or their website or mobile application. You can apply at the lenders branch, or their website or mobile application. Approval and disbursement: Generally, after your credit approval, loan amounts are less than a day for disbursement. In conclusion, giving women loans means more than just offering a financial product-they are political instruments to ensure that women can be financially empowered, get out of emergencies, and follow their dreams. These loans are, therefore, crucial to closing the gender gap in financial inclusion, offering timely, accessible, and customized financial solutions. Disclaimer: Mint has a tie-up with fin-techs for providing credit, you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit score. Mint does not promote or encourage taking credit as it comes with a set of risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit.
Business Upturn
14-05-2025
- Business
- Business Upturn
Jubilant FoodWorks revokes EUR 116 million corporate guarantees issued to HSBC for Dutch subsidiary JFN
Jubilant FoodWorks Limited, the master franchisee of Domino's Pizza in India and several other regions, reported a significant 76% year-on-year decline in net profit for the quarter ended March 31, 2025. The company posted a net profit of ₹49.3 crore, down from ₹208.3 crore in the same period last year. The decline was attributed to […] By Aditya Bhagchandani Published on May 14, 2025, 16:42 IST Jubilant FoodWorks Limited, the master franchisee of Domino's Pizza in India and several other regions, reported a significant 76% year-on-year decline in net profit for the quarter ended March 31, 2025. The company posted a net profit of ₹49.3 crore, down from ₹208.3 crore in the same period last year. The decline was attributed to the absence of exceptional gains seen in Q4 FY24 and persistent cost pressures. Despite the profit decline, revenue from operations rose 33.6% YoY to ₹2,103.1 crore in Q4 FY25 compared to ₹1,573.97 crore in Q4 FY24. Total income, including other income, stood at ₹2,113.9 crore. However, profit before tax dropped to ₹69.5 crore, down sharply from ₹225 crore a year earlier, indicating cost escalation and margin compression. FY25 performance highlights: Revenue from operations: ₹8,141.7 crore (up 44% YoY) Net profit: ₹217.1 crore (down 46% from ₹400 crore in FY24) Corporate Update: The company also announced the revocation of corporate guarantees amounting to EUR 116.09 million issued in favour of HSBC Bank. These guarantees were originally provided for the repayment obligations of Jubilant Foodworks Netherlands B.V. (JFN), a wholly owned subsidiary. The company disclosed it may replace the guarantees with an alternative arrangement mutually agreed upon with HSBC Bank, without any further recourse to Jubilant FoodWorks. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Zawya
14-05-2025
- Business
- Zawya
HSBC brings iconic lions to the UAE, reaffirming the bank's long-term commitment to the country and MENAT region
Dubai, UAE: HSBC, the largest international bank in the UAE, has brought its iconic bronze lions – Stephen and Stitt – to its UAE headquarters, marking the first time the bank's global symbols of growth and strength have been installed in the Middle East North Africa and Türkiye (MENAT) region. This historic milestone reflects HSBC's deepening commitment to the UAE and the wider MENAT region, as the bank continues to invest in key growth markets. The bank reported record profit before tax (PBT) of $2.5bn for the MENAT region in 2024, up 10% compared to the previous year, on a constant currency basis, with the UAE contributing $0.9bn in PBT. The presence of the lions, long-standing fixtures at HSBC's global headquarters in London and Hong Kong - now at HSBC Tower in the UAE serves as a bold statement of the international bank's continued ambition in the country. Welcoming the lions to the UAE, Mohamed Al Marzooqi, Chief Executive Officer, UAE, HSBC Bank Middle East Limited, said: 'Our iconic lions have stood guard at HSBC buildings for over a century. Bringing them to the UAE is a powerful symbol of our legacy in this market and our readiness to invest further to support our customers and the economic transformation. The UAE is investing in a future defined by diversification, innovation and global connectivity, and HSBC is here to help make that vision a reality. In line with our strategy, we are investing to grow our Corporate and Institutional Banking (CIB) business here and be the bank of choice in International Wealth & Premier Banking (IWPB). The lions are a visible reminder of our heritage, strength, and future focus.' HSBC has been at the heart of the UAE's financial ecosystem for nearly eight decades since opening its doors as the first bank in the Emirates in 1946, and the country continues to play a pivotal role in the Group's global strategy, serving as a trade, investment, wealth management, and innovation hub connecting Asia, the Middle East, Europe and the Americas. The bank's recent investments in the UAE include a first-of-its-kind digital liquidity management solution for corporate clients, the WorldTrader digital trading platform providing wealth customers access to investments internationally, and it has partnered with Abu Dhabi Department of Economic Development (ADDED) to launch a Centre of Excellence in Al Ain equipping Emiratis with the skills to thrive in the financial sector. The bank has led three out of the five largest international IPOs in the UAE last year, and of the $26.2 billion raised in IPOs in the UAE's financial markets between 2022 and 2025 YTD, HSBC was involved in 65% of the total deal value. To read more about HSBC lions, Stephen and Stitt, please click here. Media enquiries to: Ahmad Othman ahmadothman@ About HSBC in the MENAT region HSBC is the largest and most widely represented international banking organisation in the Middle East, North Africa and Türkiye (MENAT), with a presence in nine countries across the region: Algeria, Bahrain, Egypt, Kuwait, Oman, Qatar, Saudi Arabia, Türkiye and the United Arab Emirates. In Saudi Arabia, HSBC is a 31% shareholder of Saudi Awwal Bank (SAB), and a 51% shareholder of HSBC Saudi Arabia for investment banking in the Kingdom. Across MENAT, HSBC had assets of US$73bn as at 31 December 2024.
Malaysian Reserve
13-05-2025
- Business
- Malaysian Reserve
Stocks rise across Asia on US-China trade truce: Markets wrap
ASIAN stocks followed gains in US equities on optimism the US-China trade truce marks the end to an all-out tariff war. Shares in Australia and Japan jumped at the open after the S&P 500 closed more than 3% higher. Japan's Topix gained for a 13th day, putting it on track for it longest winning streak in 16 years. A gauge of US-listed Chinese stocks surged 5.4% on Monday in its best session in over two months. The dollar was little changed in Asia after jumping Monday. The return of risk appetite came as trade negotiators from the world's two biggest economies announced Monday a massive de-escalation in tariffs. In a carefully coordinated joint statement, the US slashed duties on Chinese products to 30% from 145% for a 90-day period, while Beijing dropped its levy on most goods to 10%. For investors shocked into defensive measures at the height of April's chaos, the rebound in markets has been a mixed blessing. Shorting the dollar, going long stock volatility and piling on bets premised on multiple Federal Reserve interest-rate cuts were among the most popular trades in mid-April. Now, their unwinding may be adding fuel to the bounce-back. 'There's very clearly upside risk for the broader risk asset spectrum now as markets will likely extrapolate a higher likelihood of further deals in the coming weeks,' HSBC Bank strategists including Max Kettner wrote in a note to clients. 'Things could easily turn out a bit bumpier in future trade negotiations — but clearly the US administration has altered its tone such that future episodes of weakness should be used as buying opportunities.' Diminished expectations of a recession drove the US stock benchmark above President Donald Trump's April 2 'Liberation Day' level. A surge in big tech shares put the Nasdaq 100 back into a bull market just about a month after it plunged 20% from a previous record. Amid a potential reset in inflation expectations, Treasury yields jumped Monday as traders lowered their Fed wagers to just two rate cuts in 2025. After surging nine basis points Monday, the 10-year yield slipped back two basis points Tuesday. The reverberations of Trump's trade war are likely to keep affecting global markets in coming months. In Japan, Prime Minister Shigeru Ishiba said Monday that his government won't accept any initial trade agreement with the US that excludes an accord on autos. In China, there was a sense of relief that the trade negotiations between the two biggest economies had quickly borne fruit. The Hang Seng China Enterprises Index and Hong Kong's benchmark Hang Seng Index both closed the day 3% higher Monday. 'We expect the 'trade optimism' to send China equities higher in the near term, with the Hang Seng Index likely to advance closer to its March peak,' Patrick Pan, equity strategist at Daiwa Capital Markets Hong Kong Ltd., wrote in a note. 'We see tactical trading opportunities for 'tariff-hit industries' like electronics, textile, shipping and electrical equipment.' Investors who followed Trump's advice on social media in the past month have enjoyed one of the biggest rallies in the S&P 500 under his leadership. Having slumped on Trump's 'Liberation Day' tariff announcement, the benchmark soared in the month after he said it was 'a great time to buy' on April 9 — hours before he paused some of the harshest levies in a century. He reiterated that on May 8, telling reporters the economic outlook warranted piling into stocks. Swaps that track upcoming central bank meetings showed just 56 basis points of easing by December, down from near 75 basis points last week. Traders still see the first quarter-point cut in September. Fed Governor Adriana Kugler said the Trump administration's tariff policies are likely to boost inflation and weigh on economic growth, even with the recently announced reduction in levies on China. 'Trade policies are evolving and are likely to continue shifting, even as recently as this morning,' Kugler said Monday in remarks prepared for an event in Dublin. 'Still, they appear likely to generate significant economic effects even if tariffs stay close to the currently announced levels.' –BLOOMBERG
Yahoo
29-01-2025
- Business
- Yahoo
HSBC plans biggest investment banking retrenchment in decades
By Sinead Cruise LONDON (Reuters) -HSBC plans to wind down its M&A and some equities businesses in Europe and the Americas, the bank said on Tuesday, accelerating a shift to Asia in its biggest retrenchment from investment banking in decades. "Our intention is to move to a more competitive, scalable, financing-led model," Michael Roberts, CEO HSBC Bank said in a memo sent to staff seen by Reuters, which said the lender would retain more focused M&A and equity capital markets capabilities in Asia and the Middle East. A spokesperson for the UK-headquartered bank, which employs around 220,000 people globally, confirmed the contents of the memo. Since the global financial crisis, HSBC has been scaling back its worldwide footprint, starting with exiting dozens of low-returning consumer banking activities, from France to Greece to Canada. Under CEO Georges Elhedery, who replaced Noel Quinn in September, HSBC is now overhauling its dealmaking and corporate advisory activities in the West in a bid to boost returns and tighten its focus on Asia, where the lender already earns the bulk of its profit. HSBC ranked 14th globally in investment banking fees in 2024, according to LSEG data, down a notch from the previous year. The bank's market share in the fees pot reached 1.5%, mostly thanks to the revenues from its debt financing business, the data show. It's unclear how many roles will be cut as a result of Tuesday's surprise announcement, nor the likely savings, nor how many bankers might be redeployed to other financing businesses where HSBC considers it is better able to compete with U.S. rivals that have dominated investment banking's most lucrative segments for years. Analysts have been questioning where Elhedery could achieve savings while the bank remained a global, full-service wholesale lender. HSBC will keep its debt capital markets and leveraged acquisition finance operations globally, Roberts told staff in the memo, which acknowledged how "unsettling" the news would be for bankers who advise on dealmaking and corporate equity raising, such as through initial public offerings. News of the plan on the eve of China's Lunar New Year, has sent shockwaves round the lender. One senior banker, who spoke on condition of anonymity, questioned the rationale of the restructuring, and how the bank would support its debt financing activities without the M&A advisory capabilities. But some analysts and former insiders praised HSBC management for bowing out of businesses where it had struggled to thrive. "I've lost count of the number of times HSBC has been in and out of ECM in the UK. It never seems to succeed," Shore Capital analyst Gary Greenwood said. "At the end of the day, these are expensive businesses to run and if you are not winning the business and generating the fees then it's easy to lose money." HSBC shares were little changed after the news, down 0.2% to 822 pence at 1146 GMT, valuing the bank at about 147 billion pounds ($183 billion). In recent years, other European banks have made similar attempts to scale back global investment banking activities to focus on core markets where they are stronger; Germany's Deutsche Bank pulled out of equities while Switzerland's UBS has retrenched from some trading businesses. Some commentators were surprised by the timing of HSBC's decision, given capital markets activity is expected to grow in the near term, fuelled by expectations of interest rate cuts and pro-growth policymaking across the West in the wake of U.S. President Donald Trump's return to power. "The bank is being run with medium to long-term view," RBC Capital Markets analyst Ben Toms told Reuters. "Geographically, the move reflects the continued shift from West to East, where growth and profitability are higher." HSBC's decision to shutter the businesses was earlier reported by Bloomberg. ($1 = 0.8037 pounds) Sign in to access your portfolio
