Getting a personal loan is very easy if you are a salaried employee. However, through Moneyview, you can get personal loans up to ₹10 Lakh at interest rates starting from 14% p.a.
Be it a medical emergency or you’re running short on funds for your dream vacation, a personal loan is a great choice. As there are no restrictions on the end usage of funds procured from a personal loan, you can use them as you please. As a salaried employee, you have a stable income, which further eases your process of getting a loan.
Let’s dig deeper into personal loans for weddings, travel, shopping, and fulfilling your dreams.
Flexible Loan Amount
Borrow any amount starting from ₹5,000 and going up to ₹10 Lakh
Collateral Free Loans
No collateral or guarantor needed
Quick Disbursal
The loan amount is disbursed to your account within 24 hours of approval
Affordable Interest Rates
Benefit from low-interest rates starting from 14% per annum
Finance Your Dreams with Personal Loans
Flexible Terms, No Hidden Fees, Easy Approvals
Eligibility criteria of our lending partners are -
|
CRITERIA |
DETAILS |
|---|---|
|
Age |
21-57 years |
|
Occupation |
Salaried or Self-employed |
|
Income |
Minimum ₹25,000 Credited directly to the bank account |
|
CIBIL Score |
Minimum 650 |
At Moneyview, our lending partners' documentation requirements are minimal. All you will have to submit is
Your PAN number
A mobile number that is linked to your Aadhaar card for KYC verification
A clear selfie taken in a well-lit area
The documentation requirements vary depending on your borrower profile. You might need to provide additional proof of address, bank statements, etc.
Use the NACH mandate to enable the auto-debit feature from your bank account. This will guarantee that all loan EMIs are paid back on time.
You must download, print, sign, and email the NACH mandate to us.
Our lending partners then examine your loan agreement.
The first eight digits of your Aadhaar Card will be hidden if it is one of these attachments.
After that, you will get an OTP on your registered number, which you must enter to submit the loan agreement.
Only after completing this step will your loan be disbursed.
Let us try to compare the experience of applying for a loan through banks and Moneyview.
|
Criteria |
Banks |
Moneyview’s Lending Partners |
|---|---|---|
|
CIBIL Score Required |
May need CIBIL above 700 or 750 |
Get loans at a CIBIL score of 650 |
|
Documentation |
Photocopies of documents required |
Minimum documents needed, and can be uploaded digitally |
|
Application Time |
Long process |
The application can be completed within 15 minutes |
|
Disbursal Time |
Might take up to 3-5 working days |
Within minutes to 24 hours |
As you can see, personal loans from Moneyview’s lending partners are easy to get and are disbursed within 24 hours. You can get the funds in your bank account without having to leave the comfort of your home.
Moneyview’s partner lenders provide instant personal loans for salaried employees at competitive interest rates. The fee structure is transparent without any hidden costs as shown below-
| Types of Loan Fees | Rates & Charges Applicable |
|---|---|
|
Interest Rate |
Starting from 14% per annum |
|
Processing Fee/Felicitation Charges |
Starting from 2% of the approved loan |
|
Part/Full Payment of the Loan (Loan Foreclosure) |
|
|
Penal Charges on Overdue EMI |
24% per annum plus applicable taxes, if any |
|
NACH Bounce |
Rs.500/- for every bounce |
In case of foreclosure, you can foreclose your instant personal loan only after a certain number of EMIs have been paid, as explained below -
| Charges | Amount Chargeable | |
|---|---|---|
|
Foreclosure Charges |
Nil, but foreclosure can be done only after a minimum number of EMIs have been paid, as illustrated below- |
|
|
Tenure |
Foreclosure |
|
|
Up to 6 months |
Not allowed |
|
|
7 - 18 months |
Allowed after 6 EMI payments |
|
|
Over 18 months |
Allowed after 12 EMI payments |
|
|
Part-prepayment Charges |
Part-prepayment is not allowed |
|
The step-by-step 100% online process of application is mentioned here -
1
Check Eligibility
You can check your eligibility on the Moneyview website or app in just 2 minutes!
2
Select Loan Tenure
Choose the loan amount and repayment period from the options provided to you as per your eligibility.
3
Upload Documents Online
Complete your e-KYC and the NACH mandate for auto-debit of EMIs. Everything will be completed online, right from your mobile phone, without any hassle.
4
Amount Disbursed
Sign the loan agreement and get the funds in your bank account in 24 hours
As a salaried employee, your income is stable. That also means that if there is a sudden emergency, you might have to rely on loans. Loans are not inherently bad and can help you build your credit score if managed properly.
Personal loans from Moneyview are versatile. They can be used for the following purposes -
Your wedding, your best friend’s, or your family member’s? Personal loans from Moneyview have you covered.
Buy tickets, book hotels, and enjoy that trip you have been planning for ages.
Craving for that new mobile phone? Or need a new laptop? Get it sorted with a personal loan.
Use funds for hospital bills, doctors’ fees, medicines, and tests.
You can also use a personal loan to take courses or pursue higher education. An education loan is best suited for this, but an instant personal loan may come in handy for urgent requirements.
Personal loans for salaried employees can be of various types and can be given to professionals as well. Let’s see who all are considered as salaried employees who can get personal loans from Moneyview’s lending partners -
Government or public sector employees can get higher loan amounts and preferential processing due to high job stability. This category includes central and state government employees.
Fast-track approvals for employees of reputed private firms and MNCs. This includes BPO employees, engineers, tech support staff, etc.
Personal loans for doctors, nurses, and administrative staff during emergencies. Paramedics and lab technicians are also considered in this category.
Quick disbursal for financial sector workers who need immediate liquidity. This includes bank, NBFC, and insurance employees.
Personal loans for teachers, professors, and coaching institute staff in times of need.
Journalists, designers, PR, and marketing professionals can also apply for personal loans.
Personal loans for pilots, crew, hotel staff, travel agency staff, and ground staff.
Personal loans for pilots, crew, hotel staff, travel agency staff, and ground staff.
Personal loan for general store staff, sales executives, and others in the FMCG industry.
Employees working in warehousing, shipping, delivery staff, etc., can also opt for personal loans.
This includes Krishi Vibhag staff, NABARD, agriculture, and cooperative bank workers.
Personal loans from Moneyview are completely digital and can be applied for directly through your mobile. This means that no matter which city in India you live in, Tier-I or Tier-II, you are eligible.
Personal loans through Moneyview are available across 19,000 locations - Bangalore, Mumbai, Kolkata, Chennai, Kerala, Pune, etc.
Here are some tips that can help salaried employees get their loan approved faster -
Improve and maintain your credit score above 650 or 700. A better credit score shows better creditworthiness.
Avoid applying for multiple loans at the same time. If one loan has not been approved, wait before you apply for another one.
Collect your salary slips or the bank statements that show regular salary credits.
Calculate your EMI beforehand and only choose a loan amount that you can repay easily.
Maintain a Credit Utilization Ratio of 30%. Low utilisation of credit shows that you are not overly dependent on credit.
Once you have got a loan, pay the EMIs on time every month. That shows good financial behaviour.
Availing of a personal loan for salaried employees is incredibly easy and convenient through Moneyview. With just a few simple steps, you can find out the loan amount you’re eligible for, fulfill our minimal documentation requirements, and avail of a loan at competitive rates.
So what are you waiting for? Visit our website or download our app to get a loan today!
Get Funds in Your Account in Minutes
You need to have a CIBIL score of 650 or more to avail of a personal loan through the Moneyview digital lending app.
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Disclaimer
The starting interest rate depends on factors such as credit history, financial obligations, specific lender's criteria and Terms and conditions. Moneyview is a digital lending platform; all loans are evaluated and disbursed by our lending partners, who are registered as Non-Banking Financial Companies or Banks with the Reserve Bank of India.
This article is for informational purposes only and does not constitute financial or legal advice. Always consult with your financial advisor for specific guidance.
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