Features and Benefits of Rs. 5 Lakh Personal Loan
Flexible Loan Amount
Based on the eligibility factors you can choose a loan amount of upto Rs. 10 lakhs.
Disbursal in Minutes
Once approved, your loan amount will be credited to your account within minutes.
Collateral Free Loans
You don’t have to arrange for any guarantor or pledge any asset while applying for personal loans from Money View
Affordable Interest Rates
We understand how important interest rates are as they determine the EMI amount to be paid. At Money View, the interest rate starts at just 10% per annum
A personal loan can be of immense help during financial emergencies. While there are a number of lenders in the market today, getting a personal loan without a hassle-free application process or minimal documentation is quite rare, but thankfully not impossible!
A personal loan can be of immense help during financial emergencies. While there are several lenders in the market today, getting a personal loan without a hassle-free application process or minimal documentation is quite rare, but thankfully not impossible!
Moneyview - The Best Option for Personal Loans
Moneyview has slowly risen to prominence as one of the most trusted loan apps in India. With instant disbursal, minimal documentation, and a unique credit rating model, it offers customized loans to suit the requirements of its customers. From Rs. 5,000 to Rs. 10 Lakh, you can get any amount in just a few clicks and minutes.
Read more to understand how you can get an instant personal loan of Rs. 5 Lakh.
Eligibility Criteria for Rs. 5 Lakh Personal Loan
To get an instant personal loan from moneyview, you must meet the criteria for eligibility outlined below -
-
Applicant must be salaried or self-employed
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They must receive a monthly in-hand income of ₹13,500 or more
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This income should be received in a bank
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A minimum CIBIL score and Experian score of 650 is necessary
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Borrowers must be aged between 21 years and 57 years
Documents Required for Rs. 5 Lakh Personal Loan
Our documentation requirements are minimal. All you will have to do is -
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Confirm/enter your PAN number
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Ensure that your mobile number is linked to your Aadhaar card for KYC verification
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Provide a clear selfie taken in a well-lit area
Please note that the documentation requirements will vary based on your profile. We may require proof of address, bank statement, and other supporting documents.
In case we require proof of address, any one of the following documents will suffice -
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Aadhaar Card
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Valid Indian Passport
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Valid Voter ID
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Valid Driver’s License
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Utility Bills (Electricity, Water, Gas) dated within the last 60 days
If we require income proof, you must furnish your bank statement for the last three months. This statement must also show your salary credits.
Fees and Charges for Rs. 5 Lakhs Personal Loan
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 10% per annum |
|
Loan Processing Charges |
Between 2% to 8% of the approved loan amount |
|
Penal charges on Overdue EMI |
24% per annum |
|
NACH Bounce |
Rs.500/- each time |
|
Loan Cancellation |
|
Rs. 5 Lakhs Personal Loan EMI for Tenure of 1-5 Years
Taking a loan of Rs. 5 lakh is possible with Moneyview. Knowing the EMI you will have to pay will help you when it comes to planning your finances for each month.
The Moneyview personal loan EMI calculator makes it incredibly easy for you to find out your EMI within seconds. All you need to do is provide the necessary details.
For example, if you took a personal loan of Rs. 5,00,000 at 16.5% interest rate per annum, here is what your EMI could look like for different repayment terms -
| Loan Amount | Interest Rate (p.a.) | Tenure (in months) | EMI in Rs. |
|---|---|---|---|
|
Rs. 5 Lakhs |
16.5% |
12 |
45884 |
|
24 |
24601 |
||
|
36 |
17708 |
||
|
48 |
14299 |
||
|
60 |
12292 |
*Note: Interest rates may vary from one user to another based on credit score, income, age, etc.
Check Other Personal Loan Options Based on Your Budget
Steps to Get Rs. 5 Lakh Personal Loan
Check Eligibility
Visit the moneyview website or download the app, provide all the necessary details, and we will let you know your eligibility in just 2 minutes
Choose Your Loan Plan
Based on the options given, you will have to select the loan amount and repayment term of your choice
Provide Documents
Easily upload all of the necessary documents online for verification
24-hour Loan Disbursal
After your documents are verified and the loan agreement is submitted, the loan amount will be credited to your bank account within 24 hours
Conclusion
A Rs. 5 Lakh loan in India can now be easily availed from online lending apps. However, the Moneyview app is customized to help you fulfill your monetary requirements and has a simple application process that can be done from anywhere.
Moneyview loans are versatile and can be used for multiple purposes very easily. Not only are the documentation requirements minimal, the application process is quick and hassle-free. Log on to the Moneyview website or download the App and apply now!
5 Lakh Personal Loan - Related FAQs
No, you can’t change your loan amount or terms on the app after you’ve reviewed and submitted your application.
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