Loans FAQs

Money Manager FAQs

Money View Loans FAQs

Loans FAQs

Money Manager FAQs


The rate of interest starts from 16% p.a and is based on the assessment of your details like credit score, income, other loans, obligations or the selected lender etc.

Yes, we charge a small fee to process your loan. It starts from 2% of your loan amount and is decided by our system based on various factors. The applicable processing fee will be deducted from the loan amount while the remaining funds will be transferred to your account.

On your screen, you should be able to see a column called "Monthly EMI". That is the amount you will be paying each month. The Loan term column tells you the duration of the loan, and you will have to pay your "Monthly EMI" every month for that duration.

The Interest column is for your information only, and specifies the entire interest you are paying on that loan amount in the entire duration. It is not related to the amount you will be paying.

Your EMI which is also known as Equated Monthly Installment consists of a portion of principal repayment as well as interest payment on the loan. The EMI amount on your loan depends on the principal amount, the loan tenure and the rate of interest

Yes, We follow the reducing balance method for interest calculation. We have added a small example here to make it more clear for you.

Suppose you avail a loan for Rs 50000 for a term of 6 months at an interest rate of 16%. Your repayment schedule will look like the example below. You would see that your outstanding loan amount is reducing with payment of each EMI, which is why this method is called the reducing balance method for interest calculation.

Month 1 Month 2 Month 3 Month 4 Month 5 Month 6
Principal Repaid 8060 8167 8276 8387 8498 8612
Interest Paid 667 559 450 340 228 115
EMI amount 8727 8727 8727 8727 8727 8727
Outstanding Principal 41940 33773 25497 17110 8612 0