General

There are just 3 Steps to get the loan amount in your bank :

  1. Complete the loan request process by submitting an id verification document, an address proof, cancelled cheque leaf and some additional details.
  2. After submission, we assess your eligibility for the loan and based on that you receive a pre-filled Loan agreement.
  3. Verify the details of the Loan Agreement and email it to us to get the loan amount in your bank account within 2 business hours.

Anyone who downloads the Money View Loans app is eligible to take a loan.

  1. Money in bank within 2 business hours*
  2. Simple and paper-less process
  3. Easy payback option of 6-12 month EMIs

*Please note that our business hours are Monday to Friday, 10 am to 6pm.

Your loan request will get rejected only in these two cases :

  1. Extremely low credit score
  2. Issues with documents submitted for ID verification

Process

The loan processing flow is completely digital and is entirely done through the app. There are no physical forms or in person verification involved.

We will need the following documents for your loan request

For ID proof

  • PAN card

For Address proof (any one of the following)

  • Driving licence
  • Aadhar card
  • Passport
  • Voter ID

For bank account verification

  • Cancelled cheque leaf with signature
  • Bank statement

For income verificationi (any one of the following)

  • Salary slips for last 3 months
  • HR letter specifying income
  • Bank statement
  • Form 16/IT return for last 2 years

Please make sure that the above documents should be valid at the time of submission.

You can borrow a minimum of Rs. 25,000. The maximum loan amount is dynamically calculated by our algorithm and can go upto Rs. 2,00,000.

The rate of interest starts from 16% and will be based on the assessment of your spending patterns by our algorithm.

This loan is collateral free.

We will try our best to transfer the loan amount within 2 business hours post verification of all your documents.

Your co-operation in submitting valid documents in time helps us speed up the process.

Please note that our business hours are Monday to Friday, 10 am to 6pm.

No, you cannot change your loan amount after submitting your Loan Application. In case there is an error during the application submission send us an email at loans@moneyview.in

No change in loan amount can happen after you have submitted the Loan Agreement form.

We need your bank details to transfer the loan amount to your account and to deduct the Easy Monthly Installments (EMIs) for the loan.

We only charge a one-time processing fee which is dynamically calculated.

For eg., if you have opted for a Rs. 50,000 loan then the processing fee will be deducted from the 50,000 and the amount net of processing fee will be transferred to your account.

Rs.50,000

Rs. 1,000

=

Rs.49,000

Loan Amount

Processing charges

=

Final amount transferred to bank

We do not provide multiple loans at the same time but you can finish your repayments and start a fresh loan. In case you are still interested in multiple loans, get in touch with us at loans@moneyview.in

Repayment

The loan EMI will be automatically deducted from your bank account. This is done only after you have authorized us to deduct the proposed EMI amount mentioned during the loan request process in the app.

The last step of the loan request process includes you sending us a Loan Agreement form with the authorization of deducting a proposed EMI amount for a certain duration (depending on the loan plan). This loan agreement form will contain a NACH mandate which will enable us to auto-debit the EMI amount directly from your bank.

Yes. If the auto-debit is not activated for your linked account, you can transfer the EMI through NEFT/IMPS.

National Automated Clearing House (NACH) is a centralised system similar to ECS. It has been launched with an aim to merge multiple ECS systems running across the country and introduce higher efficiency. It has replaced ECS for auto-debit transactions in India since May 2016. You can read more about NACH here.

The loan amount will be automatically debited on 5th of every month. In case you do not have enough balance, we allow a grace period of 3 days during which you can request for a Loan EMI transfer through the app to avoid any late charges. Beyond that a late payment fee will be charged.

You will be able to do full repayment after making one EMI payment on time. Send us a request at loans@moneyview.in.

Registration

No, part payments are not allowed.

No, we only support banks recognized by the Money View app as it ensures the authenticity of the bank account.

Your CIBIL score is only affected in case you are not able to pay back the loan EMIs on time. With proper repayments, your CIBIL score actually improves.

Yes, you can cancel the loan only before you have submitted the Loan Agreement form. After submission of Loan Agreement, we do not allow cancellation.

No, Money View facilitates only the process of lending and repayment of the loans.

Yes, the loan request data will get shared with the lender only for the purpose of facilitating the loan.

Support

We have made sure the Loan request process is smooth and bug-free but still in the case of an app crash, you will be able to start from the same step where the crash happened.

The Loan feature has been rolled out only to select Money View users. Our proprietary algorithm automatically calculates eligibility based on your transaction history and shows you the feature.

Just send us a mail to loans@moneyview.in and we will remove you from our list and you won’t see the offers anymore.

You can request a call back by dropping us a mail at loans@moneyview.in, or call us at +91-9972377893 during business hours.