Personal Loan for Salaried Employees
Personal emergencies don’t come with prior notice. To fulfill your daily needs, medical bills, and other important expenses, you’ll need some outside help once in a while. The Money View Loans App provides instant personal loans for salaried employees across India.
Who are Salaried Individuals?
Salaried employees are enrolled under a certain payroll of registered companies. Salaried employees earn a fixed pay and sometimes an incentive-based pay additional to the fixed pay. This amount is credited to a salaried account every month. This salary provides a sense of security for all lenders.
Money View Personal Loan: Features & Benefits for Salaried Employees
Here are some top benefits of obtaining a loan from the Money View Loans App:
- Instant Approval
It’s a pain to stand in queue for days and complete the required paperwork. We understand your concerns and want to make this process quick and hassle-free. With the Money View Loans App, you can be eligible for a loan in less than 2 minutes. If you are eligible, then the loan amount will be disbursed to your account in less than 2 hours. The best part is that the entire process is paperless and done on the app, digitally.
- Choose Your EMI Amount and Tenure
We let you decide your EMI amount and tenure as per your comfort. This way, you’ll be able to make your payments on time and avoid late-payment charges.
- No Collateral Required
On the Money View App, one can apply for a loan without providing an asset as collateral to get a personal loan.
Personal Loan Eligibility Criteria for Salaried Employees
Salaried employees need to have a minimum salary of Rs. 20,000 (if you are new to the credit system or haven’t taken a loan before). If your CIBIL score is greater than 675, then your minimum monthly salary must be Rs. 15,000 and you must be residing in a metro city (other than Mumbai/NCR). If your CIBIL score is between 300 and 675, then you must have a minimum salary of Rs. 25,000. For everyone else, the minimum salary requirement is Rs. 13,500.
You’ll need to submit the following documents:
- Identity Proof – Aadhaar/PAN Card
- CCurrent Address Proof – If your Aadhaar Card doesn’t have your current address on it, you’ll have to submit your rental agreement or current address proof.
- Bank Statement (Salary A/C) – Last 3 months’ statement that includes salary credits
Personal Loan Interest Rate and Other Charges for Salaried Employees
The Money View Loans App gives personal loans to salaried employees at a certain interest rate. The interest rate is calculated based on various factors. The interest rates in the Money View Loans App starts at 1.33% per month.
If you continue to make EMI payments on time, there’ll be no additional charges applied to you. However, if you delay or miss your EMI payments, you’ll be charged an additional fee at an interest of 2% per month on the overdue amount.
Money View charges a one-time processing fee on your loan plan. We deduct this processing fee directly from the loan amount during fund transfer.
Steps to Apply for a Personal Loan on The Money View Loans App
- Step 1: Check your eligibility
Enter the right details online on the app and you’ll know if you’re eligible for a loan in just 2 minutes.
- Step 2: Choose your loan plan
Select a loan plan based on your comfort. We let you decide your EMI amount and tenure to help you plan your payments on time.
- Step 3: Upload all the required documents
You’ll have to upload all the relevant documents and KYC verification details on the app.
- Step 4: Loan transfer to your bank account
Once you’ve completed the above steps, we will process your loan amount to your bank account in 2 hours.
Personal Loan For Salaried Person With Less Credit Score
With the MoneyView Loans App, it’s possible to obtain a loan even if a salaried employee has a low CIBIL score. Our in-house credit rating model lets you get a loan from us.
Things to keep in mind when going for a personal loan
- Please make sure that the EMI amount is well within your means.
- Understand the terms, tenure, and interest rates before applying for a loan.
- Make sure your documents are valid.