The pandemic has impacted the country gravely with millions getting affected and getting financial help when needed is important. If you are looking for a COVID personal loan, then Money View has your back.
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 Covid 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. Which is why, even if your credit score is on the lower end, you can still avail a COVID-19 loan from us.
However, we require applicants to have a minimum CIBIL score of 600 and above or Experian score of 650 and above.
In order to avail a personal loan from Money View for emergency financial assistance, you will need to fulfill the following eligibility criteria -
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|
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||Any 1 of the following -||Salaried Applicants - Last 3 months’ bank statements of your salary account in PDF format showing salary credits|
Self-Employed Applicants - Last 3 months’ bank statements in PDF format if you are self-employed
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.
Visit the Money View website or download the loan app. This entire process takes only 2 minutes!
Select Loan Tenure
Choose the loan amount and repayment term of your choice based on your eligibility
Easily upload all the required documents effortlessly
After your documents are verified and loan agreement is submitted, the loan amount will be credited to your bank account within 24 hours
In times of emergencies such as the ongoing pandemic, having access to financial assistance is necessary. Covid personal loans from 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.
Ans: There are a number of benefits to choosing a personal loan for COVID emergencies from Money View. These include -
A. 24 hour Disbursal
Once your loan application is approved, your loan amount will be credited to your bank account within 24 hours
B. Quick Eligibility Check
You can find out the amount you’re eligible to borrow within just 2 minutes, saving precious time and energy
C. 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
D. 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
E. No Collateral
You do not have to provide collateral or any form of security to avail a loan from Money View
Ans: 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|
Ans: Yes, as long as the eligibility criteria is fulfilled, self-employed applicants can avail personal loans from Money View.
Ans: Once you have submitted an application, you can track your application status on our app or website by following the steps below -
Ans: 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.
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