Are you planning to study MBBS but concerned about paying for it? Apply for a personal loan for your MBBS studying in india or abroad without any collateral from Money View.
Education Loan for MBBS from Money View
In order to pay for one’s MBBS degree, the most common option is to avail an education loan for MBBS in India. But have you considered an alternative that is much more affordable and flexible?
Personal loans come with a whole host of benefits such as flexibility in terms of loan amount and repayment term, minimal documentation, and 24 hour disbursal making it perfect for those looking for urgent loans.
One of the top personal loan providers in the country, Money View now provides an education loan for MBBS without collateral in the form of affordable personal loans.
Why Choose Money View Student Loan for MBBS
Given below are some of the features and benefits that sets Money View personal loans apart from other loans in the market -
24 Hour Disbursement
Your loan will be credited within a day after your loan application has been approved
Minimal Documentation
Submit three documents - ID proof, address proof, and income proof - and you’re done!
Instant Eligibility Check
Your eligibility check from the Money View website or loans app takes only 2 minutes saving energy and time.
Loans with Low Credit Score
The minimum CIBIL score of 600 or Experian score of 650 is a must.
Flexibility of Loan Amount
Depending on your eligibility you can choose any loan amount of upto Rs. 5 lakhs
Flexible Repayment Term
Choose the repayment tenure of up to 60 months
100% Paperless
The entire process from application to disbursal is quick and hassle-free
How to Apply for Money View Student Loan for MBBS
If you wish to avail a personal loan to pay for your MBBS degree, follow the steps below -
Visit the Money View website or download the app . Provide all the details required and we will let you know your eligibility in just 2 minutes.
Select your loan plan
Based on the options provided, select the loan amount and repayment term of your choice
Provide required documents
Upload all the documents without any hassles online
Instant Loan Disbursal
After your documents are verified and loan agreement is submitted, the loan amount will be credited to your bank account within 24 hours
Note -
- Once your documents are verified, you will receive a NACH form which needs to be printed, signed, scanned, and sent back to us
- This step will enable the auto-debit facility from your bank account and allow you to pay your EMIs on time automatically without any manual intervention.
- On receiving your NACH form, you will need to review the loan agreement on the app. Please submit the application after reviewing all the terms and conditions thoroughly
Eligibility Criteria for Money View Student Loan for MBBS
To get a student loan for MBBS from Money View, you will need to fulfill the criteria given below -
- Applicants must be between 21 years and 57 years
- Applicants must receive an income of Rs. 13,500 or more*
- Income must be credited directly to the applicants’ bank account
- Credit score must be a minimum CIBIL score of 600 or minimum Experian score of 650
Given below is a city-wise breakdown of the income and credit score requirement -
| Income and Credit Score Eligibility Criteria | |||
|---|---|---|---|
| Salaried Individuals | Minimum In-Hand Income | Area of Residence | CIBIL Credit Score Requirement |
| Rs 13,500 | Any | CIBIL Score of 600 /Experian Score of 650 and above | |
| Rs 20,000 | Mumbai/Thane or the NCR region (Delhi, Noida, Gurgaon, Ghaziabad, Faridabad, etc.) | New to Credit or CIBIL Score of 600 /Experian Score of 650 and above | |
| Rs 15,000 | Metro City other than Mumbai and NCR | CIBIL Score of 600 /Experian Score of 650 and above | |
| Self-Employed Individuals | Rs. 15,000 | Any | CIBIL Score of 600 /Experian Score of 650 and above |
Documents Required for Money View Student Loan for MBBS
Here are the 3 documents required for your education loan for MBBS from Money View -
| Identity Proof | Address Proof | Income Proof |
|---|---|---|
PAN Card - This is the primary ID proof required. However, if it is rejected due to image quality issues or other
reasons, any 1 of the officially valid documents given below will suffice
|
Any 1 of the following -
|
Salaried Applicants - Last 3 months’ bank statements of your salary account in PDF format showing salary credits
OR Self-Employed Applicants - Last 3 months’ bank statements in PDF format if you are self-employed |
Fees and Charges for Money View Student Loans for MBBS
Money View’s personal loans come with competitive interest rates and have no hidden charges whatsoever. Our fees and charges are as follows -
| Fees and Charges | Amount Chargeable |
|---|---|
| Interest Rate | Starting from 1.33% per month |
| Loan Processing Charges | Between 2% to 8% of the approved loan amount |
| Interest on Overdue EMIs | 2% per month on the overdue EMI/Principal loan amount |
| Cheque Bounce | Rs.500/- each time |
| Loan Cancellation |
|
In Conclusion
If you need an education loan for MBBS without collateral, why not opt for personal loans from Money View instead? These loans are versatile and can be used for a number of purposes, are flexible, and affordable. Visit the Money View website or download the app and apply today.
Education Loan for MBBS - Related FAQs
Currently we only offer loans to those who have a source of income. However, you can always ask your family members such as your parents or siblings or even friends to apply for you.
Secured loans are those that are provided against collateral such as home loans, auto loans, gold loans, etc. Unsecured loans are those that do not require collateral such as personal loans but can be used for a number of purposes.
Currently we only provide loans to those individuals who receive their salary via bank transfer – directly from their employer. We will not be able to give loans to applicants who get their salaries in cash.
No, applicants do not have to provide security, collateral, or guarantors as Money View personal loans are unsecured loans.
Our personal loans are extremely versatile. You can use for a number of purposes such as -
- Education purposes
- To fund a wedding
- For Home-repairs
- For vacation
- For a loan down payment
- To buy the latest gadget
- To fund a business venture
- To pay off credit card bills or build credit score
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