How to Get 12-Month Instant Loans

12-month instant loans have grown in popularity among Indian borrowers in recent times. Besides the benefits and flexibility they offer, these loans are also unsecured, meaning the borrower is not required to submit any collateral to avail the loan.

In this article, we will look at the meaning of 12-month cash loans, the eligibility criteria, and where you can avail them with ease.

What is A 12-month Loan?

12-month instant loans, also known as 1-year loans, 12-month cash loans, or 12-month installment loans are personal loans that come with a maximum repayment tenure of 12 months i.e. 1 year. 

These short-term loans are provided to individuals as long as they have a steady source of income. This loan's biggest advantage and the factor contributing to its popularity is that even those with relatively low credit scores can avail them.

Features of 12 Month Instant Loans

12-month loans are relatively unique because of their features. Take a look at some of the salient ones below:

• As the name suggests, these loans come with a repayment term of 12 months. Generally, loan repayment tenures can range between months to years but since the term here is shorter, the rate of interest imposed is high

• These short-term loans are disbursed to individuals with a steady source of income, both salaried and self-employed

• Most 1-year loans can be availed online and the application process is simple and hassle-free

• While most loans are disbursed to individuals who have a very high credit score, 12-month instant loans are also available for borrowers with average or low credit scores depending on the lender’s terms and conditions

Benefits of 12-Month Instant Loans

12-month instant loans come with several incomparable benefits as listed below:

• Unlike most other loans, 12-month instant loans or 1-year loans do not require collateral making them highly sought after

• Depending on the lender, even those with relatively low credit scores can apply for and receive these loans

• Imagine receiving a loan within just a day of applying for it. The disbursal process for 1-year loans is extremely quick

• As they are similar to personal loans, 12-month instant loans can be used for a multitude of purposes such as paying bills, emergency expenses, or even for a vacation without having to justify the same with additional documents

moneyview 12-Month Instant Loans

One of the most renowned personal loan providers in the country, moneyview, offers instant loans that are disbursed to your account within 24 hours of application approval. Additionally, the repayment terms are flexible and can run up to 5 years or 60 months.

moneyview employs a unique in-house credit rating model that allows those with low credit scores to avail loans easily. As long as your credit score, CIBIL or Experian, is 650 & above, you can apply for an instant loan from moneyview. 1-year loans for bad credit are now a reality thanks to moneyview.

Additionally, the application process is extremely simple and our documentation requirements are minimal.

All you need to do is fulfill the eligibility criteria, submit the documents required, and that’s it! The loan amount will be credited to your account.

Eligibility Criteria For moneyview 12-Month Instant Loans 

To get a 12-month personal loan from moneyview, you must first be eligible to apply. Once you fulfill the eligibility criteria, the process becomes easier and quicker. The eligibility requirements for moneyview 12-month instant loans are 

• The borrower must be aged between 21 years and 57 years

• Applicant must be either salaried or self-employed

• He/she must receive monthly in-hand income of ₹13,500 or more

• Their income should be received directly in a bank

• Additionally, the applicant must have a minimum CIBIL score or Experian score of 650

Documents Required For moneyview 12-Month Instant Loans

At moneyview, we understand the importance of minimal documentation. We require only these key documents from you, as given below -

• Your PAN number

• A mobile number is linked to your Aadhaar card for KYC verification

• A clear selfie taken in a well-lit area

The documentation requirements will change depending on your profile as a borrower. moneyview may ask for proof of address, bank statement, and other supporting documents.

Fees And Charges For moneyview 12-Month Instant Loans

Every loan applicant wants to avail the most affordable loan. Our fees are -

Conclusion

1-year loans for bad credit are perfect for those looking to avail a relatively smaller loan to pay off certain expenses. As these loans are disbursed quickly and can be availed online, they can be extremely useful if utilized well. 

The EMI to be paid is also directly debited from the individual’s monthly salary making this not just an easy-to-avail loan but also one that is hassle-free to repay.

Money View provides loans of up to Rs. 10 lakhs through an application process that is entirely paperless while adhering to all safety and security norms. 

The best part is that Money View processes applications through a unique algorithm that is not entirely dependent on credit scores, ensuring that even those with lower credit scores can avail a loan easily and effortlessly. To apply for an instant loan, visit the Money View website or download the app today.