COVID Loan

The second wave of the pandemic has impacted the country gravely with millions getting affected. Individuals looking for financial help in the form of COVID loans need not look any further as Money View has your back.

How to Apply for a COVID Loan from Money View

In case you need emergency financial assistance, you can avail a COVID 19 loan from Money View by following the simple steps given below -

Check your eligibility

Visit the Money View website or download the loan app. This entire process takes only 2 minutes!

Select your loan plan

Choose the loan amount and repayment term of your choice based on your eligibility

Provide required documents

Easily upload all the required documents effortlessly

Instant 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

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

COVID 19 Loan for Bad Credit Score

Not everyone can have a high CIBIL or Experian score. Although one should always strive to have a high credit score as it can help you avail loans at lower rates of interest, you can still get personal loans with bad credit scores from certain loan providers such as Money View.

At Money View, we use an in-house unique credit rating system that analyses an individual’s creditworthiness on multiple factors and is not just dependent on the applicant’s credit score. However, we require applicants to have a minimum CIBIL score of 600 and above or Experian score of 650 and above.

Eligibility Criteria for COVID Loan from Money View

In order to avail a personal loan from Money View for emergency financial assistance, you will need to fulfill the following eligibility 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

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

Documents Required for COVID Loan from Money View

You will only need to provide the following 3 documents to become the beneficiary of the COVID 19 loan scheme from Money View -

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

What Can I Use Money View COVID Loans for?

Money View personal loans are versatile and because they are disbursed within 24 hours of approval of loan application, you can avail one in times of emergencies. You can use these loans to pay your bills, fund your education/marriage, pay off credit card dues or other EMIs, purchase household items, etc.

As long as you meet our required eligibility criteria, you can avail the loan amount and repayment term of your choice. Additionally, there is no need to provide collateral or security either.

In Conclusion

In terms of emergencies such as the ongoing pandemic, having access to financial assistance is necessary. Personal loans from online loan providers such as Money View offer a number of benefits such as 24 hour disbursal, minimal documentation, and a hassle-free application process. If you wish to avail a COVID loan, i.e., personal loans for COVID related emergencies, visit the Money View website or download the loan app and apply now.

COVID 19 Loan - Related FAQs

There are a number of benefits to choosing a personal loan for COVID emergencies from Money View. These include -

  1. 24 hour Disbursal

    Once your loan application is approved, your loan amount will be credited to your bank account within 24 hours

  2. Quick Eligibility Check

    You can find out the amount you’re eligible to borrow within just 2 minutes, saving precious time and energy

  3. End-to-End Paperless Process

    We offer an end-to-end paperless process which means from approval to disbursal, everything is done online making the entire process hassle-free

  4. In-House Credit Scoring Model

    We have developed an alternative credit scoring model which ensures that individuals with low credit scores also can get personal loans easily. We take into account many data points to assess the creditworthiness of our applicants

  5. No Collateral

    You do not have to provide collateral or any form of security to avail a loan from Money View

The fees and charges for a personal loan from Money View are -

Fees and Charges Amount Chargeable
Interest Rate Starting from 1.33% per month
Loan Processing Charges Between 2% to 8% of the approved loan amount
Interest on Overdue EMIs 2% per month on the overdue EMI/Principal loan amount
Cheque Bounce Rs.500/- each time
Loan Cancellation
  • No additional charges levied
  • Processing fees will also be retained.

Yes, as long as the eligibility criteria is fulfilled, self-employed applicants can avail personal loans from Money View.

Once you have submitted an application, you can track your application status on our app or website by following the steps below -

  1. If you’ve applied on our website
    • Go to the login section on the website by clicking here: /apply-loan/signup
    • Login into your loan account with your registered email ID
    • Go to the ‘Dashboard’ section of your loan account
    • Scroll down to the ‘Application Status’ tab to know the status of your loan application
  2. If you’ve applied on the Money View app
    • Open the Money View app
    • Register yourself with a valid email ID if you haven’t done it yet
    • Head over to the ‘Loans’ section
    • You will then be automatically redirected to the ‘Application Status’ screen where you can check your application details
    • If you have the Money View Loans app, you’ll be directed to the ‘Application Status’ screen automatically as soon as you open it

Yes, you can. At Money View, we use a unique in-house credit rating model to assess your creditworthiness. While credit score is definitely important, we look at other factors as well. As long as your CIBIL score is above 600, you can avail personal loans from Money View.