Collateral Free Loans, Loan without Collateral

Features and Benefits of Collateral Free Loans

Flexible Loan Amount

You can choose any amount from Rs.5,000 to Rs.5,00,000 depending on your credit score

Instant Disbursement

Once your loan application gets approved, your loan amount is disbursed within 24 business hours.

No Security Needed

To apply for a personal loan through Money View, you don’t have to pledge any asset or arrange for a guarantor

Reasonable Rate of Interest

Personal loans applied through Money View are extended with interest rates starting at just 1.33% per month.

Minimal Documentation

We require just three documents - ID proof, Address proof, and income proof

Flexible Repayment Term

To repay the loan, you can choose a flexible period of 3 months up to 5 years.

Loans on Low Credit Score

The minimum score required is a CIBIL score of 600 or Experian score of 650.

Quick Eligibility Check

You can easily check your eligibility for a personal loan within 2 minutes on Money View website or download the app.

Can I Get Collateral Free Loans?

Yes, you can.

Personal loans are a great example of collateral free loans.You do not have to provide any type of security for the same. Personal loans are extremely popular due to their versatility and can be used for a multitude of purposes.

Certain loans such as home loans or auto loans require the borrower to provide an asset that has financial value as surety which in this case would be the house or vehicle in question.

Collateral may also be required in the following situations -

When the lender is not convinced of the repayment capacity of the applicant

When the applicant has a low credit score

What is the Eligibility Criteria for a Collateral Free Loan from Money View?

Eligibility criteria for collateral free personal loans from Money View is very simple -

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

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

How to Apply for a Collateral Free Loan from Money View?

Check Eligibility

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

Select Loan Tenure

Choose your loan amount & repayment tenure

Upload Documents

Upload the required documents easily and effortlessly

Amount Disbursed

After your documents are verified and loan agreement is submitted, the loan amount will be credited to your bank account within 24 hours

Frequently Asked Questions (FAQs)

1. What are the documents required for a personal loan without security?

To avail a personal loan without security from Money View, we require the following documents -

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

2. What are the fees and charges for a non-collateral loan from Money View?

For a loan without collateral from Money View the following fees and charges will be applicable -

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	No additional/hidden charges levied Processing fees will also be retained

3. What can I use collateral free loans from Money View for?

Money View non-collateral loans are extremely versatile. You can use them for the following purposes -

To fund a wedding
For home-repairs
To fund a business venture
Education purposes
For vacation
To pay off credit card bills or build credit score
To buy the latest gadget
For a loan down payment

Collateral Free Loans

Avail collateral free loans at affordable rates

Features and Benefits of Collateral Free Loans

Can I Get Collateral Free Loans?

What is the Eligibility Criteria for a Collateral Free Loan from Money View?

How to Apply for a Collateral Free Loan from Money View?

Loan EMI Calculators

Calculate Your EMI

Conclusion

Frequently Asked Questions (FAQs)

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