Are you looking for a Rs. 2 lakh personal loan? You have come to the right place. Money View, a top personal loan provider offers affordable loans starting from 5,000 up to 5 Lakhs.
Why Should you Avail Rs. 2 Lakh Personal Loan from us
While there are many loan providers in the market today, Money View stands out due to the following advantages offered -
24 Hour Disbursement
Your loan will be credited within a day after your loan application has been approved
Low Interest Rates
Our interest rates are affordable and start at just 1.33% per month
Flexible Loan Amount
Depending on your eligibility you can choose any loan amount of upto Rs. 5 lakhs
Flexible Repayment Term
Depending on your eligibility, choose repayment tenure of up to 60 months
Instant Eligibility Check
Before applying for the loan, applicants can visit the Money View website or download the app to check their eligibility which will only take 2 minutes
Loans for Low Credit Score Applicants
The minimum CIBIL score of 600 or Experian score of 650 is necessary
Completely Online
The entire process from application to disbursal is quick and hassle-free
No Collateral or Guarantor
There is no need for a guarantor or collateral for Money View personal loans
Eligibility Criteria for Rs. 2 Lakh Personal Loan
In order to get Rs. 2 lakh personal loan from Money View, you will need to fulfill the following criteria -
- Applicants must be between 21 years and 57 years
- Applicants must receive an 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
| 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 Rs. 2 lakh Personal Loan
Submitting documents need not be a complicated process. At Money View, we require only 3 key documents from you, as listed below -
| 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 if you are self-employed |
Steps to get Rs. 2 Lakh Personal Loan from Money View
Now that you know our eligibility and documentation requirements, follow these steps to get a loan -
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
Getting an Rs. 2 lakh personal loan has never been easier. Thanks to Money View’s easy application process, minimal documentation, and affordable interest rates, anyone who fulfills the required eligibility criteria can avail affordable personal loans.Visit the Money View website or download the app and apply today.
2 Lakh Personal Loan - Related FAQs
| Fees & Charges | Amount Chargeable |
|---|---|
| Interest Rate | Starting from 1.33% per month |
| Loan Processing Charges | Varies from 2% to 8% of the approved loan amount. The processing fee is deducted upfront from the approved loan |
| Interest on Overdue EMIs | 2% per month on the overdue EMI/Principal loan amount |
| Cheque Bounce | Rs.500/- each time |
| Loan Cancellation |
|
Yes, you can. Thanks to Money View’s unique credit rating model, applicants’ whose CIBIL score is above 600 or Experian score is above 650 can avail personal loans from us.
Money View personal loans are extremely versatile. Some of the common uses for them are -
- Pay fee for college/school education
- To buy an expensive gadget
- For wedding expenses
- To pay down-payment for another loan
- To clear credit card dues
- To buy household gadgets like fridge, washing machine, etc
- To pay for a vacation
- To pay for the repair/breakdown of your vehicle
- To meet expenses towards relocation
- For house renovation expenses
There are multiple factors that affect your personal loan interest rates. Some of the most important ones include -
- Credit Score
- Repayment History
- Employment Type
- Income
Your credit score is a numerical representation of your creditworthiness. If your credit score is lower than 700, your chances of getting a low interest rate will be less. However, there are a number of steps that can be taken to increase your credit score.
Having a good repayment history will help you get personal loans at low interest rates as this shows the lender that you are capable of repaying your debts on time and thereby reduces the risk for the lender
Having a steady secured job will reduce the risk of defaulting on loans as salary is credited regularly and therefore those with secure jobs can generally avail personal loans at lower rates of interest
Having a good income every month is essential but if you have taken multiple loans that need to be paid from that income, then the risk of defaulting is high, increasing the interest rate imposed
Yes, self-employed applicants can get a personal loan from Money View if they meet the following eligibility criteria -
- Monthly income of Rs. 15,000 or more
- Income must be credited directly to the applicant’s bank account
- Applicant must have a minimum CIBIL score of 600 or minimum Experian score of 650
- Applicant must be between 21 years to 57 years old
Loan Based on Salary Articles
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