Are you looking for a personal loan without any collateral or a personal loan without security? You’ve come to the right place.
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 -
There are a number of personal loan providers in the country today but the advantages offered by Money View are second to none. These include -
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
We require just three documents - ID proof, Address proof, and income proof
Money View offers an entirely digital loan application process with no paperwork involved at all
Flexible Loan Amount
You can choose any amount from Rs.5,000 to Rs.5,00,000 depending on your credit score
Flexible Repayment Term
To repay the loan, you can choose a flexible period of 3 months up to 5 years.
Once your loan application gets approved, your loan amount is disbursed within 24 business hours.
Reasonable Rate of Interest
Personal loans applied through Money View are extended with interest rates starting at just 1.33% per month.
Eligibility criteria for collateral free personal loans from Money View is very simple -
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|
Then select your loan plan
Choose the loan amount and repayment term of your choice based on your eligibility
Provide required documents
Upload the required documents easily and effortlessly
24 Hour loan disbursal
After your documents are verified and loan agreement is submitted, the loan amount will be credited to your bank account within 24 hours
Availing a personal loan without security is now extremely easy. Not only will you not have to provide collateral, you can also avail a personal loan at affordable rates with minimal documentation. All you need to do is visit the Money View website or download the loan app and apply today.
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)
Any 1 of the following -
Salaried Applicants - Last 3 months’ bank statements
of your salary account in PDF format showing salary
Self-Employed Applicants - Last 3 months’ bank statements in PDF format if you are self-employed
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|
Money View non-collateral loans are extremely versatile. You can use them for the following purposes -