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Personal Loans from Private Finance

While loans are commonly availed from banks and NBFCs, opting for personal loans from private finance companies like Moneyview is highly beneficial as these loans come with a number of advantages.

Loan Eligibility Criteria from Moneyview Private Financiers

If you are looking for a personal loan from top private finance companies such as Moneyview, you will need to fulfill the eligibility criteria given below -

  • Applicants must be between 21 years and 57 years
  • Applicants must receive an income of Rs. 25,000 or more
  • Income must be credited directly to the applicants’ bank account
  • Credit score must be a minimum CIBIL score of 650

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Documents Required for Personal Loan from Private Financiers

At Moneyview, we understand the importance of a hassle-free and minimal documentation process. 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)
  • Aadhaar Card
  • Valid Indian Passport
  • Valid Voter ID
  • Valid Driver’s License
 Any 1 of the following -
  • Aadhaar Card
  • Valid Indian Passport
  • Valid Voter ID
  • Valid Driver’s License
  • Utility Bills (Electricity, Water, Gas) dated within the last 60 days

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

Fees and Charges for Personal Loans from Private Finance Companies

Every loan applicant wants to avail a loan that is most affordable. Moneyview’s personal loans come with competitive interest rates and have no hidden charges whatsoever. Our fees and charges are -

Fees & Charges Amount Chargeable
Interest Rate Starting from 14% per annum
Loan Processing Charges Between 2% to 8% of the approved loan amount
Penal charges on Overdue EMI 24% per annum plus applicable taxes, if any
NACH Bounce Rs.500/- each time
Loan Cancellation
  • No additional/hidden charges levied
  • The interest amount for the period between loan disbursement and loan cancellation will be payable.
  • Processing fees will also be retained

Note -

  • Once your documents are verified, you will receive a NACH form which needs to be printed, signed, scanned, and sent back to us.
  • This step will enable the auto-debit facility from your bank account and allow you to pay your EMIs on time automatically without 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.

Private Finance Loan - Related FAQs

Private finance companies are those that are not a part of the regulated banking or financial sector but provide personal and other types of loans. These lenders are still a part of the organized sector and provide loans in tie-ups with other NBFCs or banks.

In spite of planning your finances well, the need for some extra cash or funds can come up at any day. At that time, convenience and the speed of service are what matters, which private finance companies can provide.

Some of the reasons for which you can avail a personal loan from private finance such as Moneyview are:

  • To pay for a medical emergency
  • Pay fee for college/school education
  • To pay down-payment for another loan
  • To clear credit card dues
  • To buy an expensive gadget
  • To pay for a vacation
  • To pay for the repair/breakdown of your vehicle
  • To meet wedding expenses
  • For house renovation expenses
  • To buy household gadgets like fridge, washing machine, etc
  • To meet expenses towards relocation
Yes, you can foreclose your personal loan from Moneyview as long as you have paid a minimum number of EMIs based on your repayment term
Currently we only provide loans to those individuals who get their salary directly credited to their bank account from their employer. We will not be able to give loans to applicants who get their salaries in cash.

Yes, self-employed applicants can get a personal loan from Moneyview 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 or Experian score of 650
  • Applicant must be between 21 years to 57 years old

The starting interest rate depends on factors such as credit history, financial obligations, specific lender's criteria and Terms and conditions. Moneyview is a digital lending platform; all loans are evaluated and disbursed by our lending partners, who are registered as Non-Banking Financial Companies or Banks with the Reserve Bank of India.

This article is for informational purposes only and does not constitute financial or legal advice. Always consult with your financial advisor for specific guidance.

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