How to Get 12-Month Instant Loans
12 month instant loans, also known as 1-year tenure 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. The biggest advantage of this loan and the factor that contributes 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 score depending on the lender’s terms and conditions
Benefits of 12 Month Instant Loans
12-month instant loans come with a number of 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
Money View 12 Month Instant Loans
One of the most renowned personal loan providers in the country, Money View offers instant loans that are disbursed to your account within 24 hours of application approval. Additionally, the repayments terms are flexible and can run upto 5 years or 60 months.
Additionally, we use a unique credit rating model at Money View ensuring that even those with low credit can avail a personal loan from us as long as their CIBIL score is above 600 or Experian score is above 650. 1 year loans for bad credit is now a reality thanks to Money View.
Additionally, the application process is extremely simple and our documentation requirements are minimal.
All you need to do is fulfil the eligibility criteria, submit the documents required, and that’s it! The loan amount will be credited to your account.
Eligibility Criteria for Money View 12 Month Instant Loans
Fulfill the eligibility criteria given below to avail Money View online personal loans:
-
Applicants must be between 21 years and 57 years
-
Applicants must receive a monthly 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 12 Month Instant Loans
We believe in minimal documentation which is why we only need 3 documents from you -
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 |
Fees and Charges for Money View 12 Month Instant Loans
Take a look at our advantageous fees and charges below -
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 |
|
How to Apply for Money View 12 Month Instant Loans
Now that you’ve found out your eligibility and the documents required, follow the steps below to apply -

Check your eligibility
Visit the Money View website or loan app. Provide the required details and we will let you know your eligibility in 2 minutes.

Choose your loan plan
Based on the options provided, select the loan amount and repayment term of your choice

Upload required documents
Upload all of the necessary documents online for verification

Loan transfer to your bank account
Post verification and submission of loan agreement, the loan amount will be credited to your account within 24 hours
Note -
- After your documents are verified, you will receive a NACH form which needs to be printed, signed, scanned, and sent back to Money View
- This step will enable the auto-debit facility from your bank account and allow you to pay your EMIs on time automatically without the need for 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
In 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. 5 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.
Personal Loan vs. Bike loan - Related FAQs
12-month loans come with a plethora of advantages such as no collateral or minimum credit score requirements, however, due to these benefits and shorter repayment tenure, the interest rate imposed is high.
Therefore these loans must only be availed as a last resort and only if all other options have been exhausted. Additionally, if a borrower defaults on 12-month loan payments, his/her credit score will be affected significantly.
No, applicants should ensure that the amount they borrow is on the lower side and most importantly an amount that can be easily repaid with their monthly income.
As 12 month instant loans do not require collateral, the rate of interest imposed is high. Therefore, in order to ensure that these loans are repaid on time with interest, borrowers must avail a smaller loan amount.