Securing Home loan- Tough task for a single woman
Life was never easy for women in India and the same is true when they apply for a home loan. Single women face more discrimination and if one thought that the gender discrimination is predominant only in Bihar and UP, then take a closer look. Some banks and ironically headed by women are refusing to give loans to single women even in metro cities.
The banks create the road to own a dream home for a single woman more difficult. They often ask the single woman to bring a co-applicant however do not insist a married woman to do so.
Karishma Amin, a 30-year old staffer in an overseas mission, is among the many people who have been struggling to secure a home loan. It is surprising to see that even her overseas mission is not enough to convince the lenders about her earning potential. Many top lenders including ICICI Bank, Axis Bank, Indiabulls Home Finance, and Dewan Housing Finance turned her away saying that she would not be eligible unless she brings in a co-applicant.
Checks on banks showed that the practice is prevalent and a few other women too complained about the same. The funniest part was that when Amin introduced her mother as a co-applicant, the banks were ready to look into her request. She is unable to understand that how a non-earning old woman as a co-applicant can help the banks to take a decision in favour of approving her home loan application.
Source- The Economic Times
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