Top Features and Benefits of Personal Loan
Flexible Loan Amount
You can opt for a loan amount between Rs.5,000 and Rs. 10 lakhs depending on your income and credit score
Instant Loan Disbursal
Once your loan application is approved and you have submitted the loan agreement, the loan amount will be credited to your account within 24 hours in most cases
Guarantor/Collateral-free
You don’t have to arrange for any guarantor or pledge any asset while applying for personal loans from Moneyview
Affordable Interest Rates
Not only do the interest rates start at an attractive 1.33% per month, these loans can be used for multiple reasons without major restrictions, making it perfect for MSMEs or businesses
Are you looking for collateral free loans for MSME or a general business loan without collateral? Then you have come to the right place.
Moneyview Collateral Free Loans for Business
You can use personal loans from Moneyview as collateral free business loans. They are unsecured and thus don’t require you to pledge collateral.
You can get loans up to Rs.10 Lakh and can use it to fund your business. So if you are looking for a business loan without collateral then you can definitely count on Moneyview. Continue reading to know more about it in detail.
Eligibility Criteria for Moneyview Collateral Free Business Loan
You have to fulfill the following criteria to avail of a loan for business without security -
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Should be between 21 and 57 years old
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Should have a monthly in-hand income of Rs.13,500 or more if you are salaried
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Should have a monthly in-hand income of Rs.15,000 or more if you are self-employed
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Income must be credited directly to the applicants’ bank account
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Should have a minimum CIBIL or Experian score of 650
Documentation for Moneyview Business Loan Without Collateral
The documentation required for procuring collateral free loans for MSME from Moneyview is very simple. All you will have to do is -
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Confirm or enter your PAN number
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Ensure that your mobile number is linked to your Aadhaar card for KYC verification
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Provide a clear selfie taken in a well-lit area
Please note that the documentation requirements will vary based on your profile. You may be required to upload proof of address, bank statement, and other supporting documents.
In case you are required to upload proof of address, any one of the following documents will suffice -
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Aadhaar Card
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Valid Indian Passport
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Valid Voter ID
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Valid Driver’s License
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Utility Bills (Electricity, Water, Gas) dated within the last 60 days
In case you are required to upload proof of income, you must furnish your bank statement for the last three months. This statement must also show your salary credits.
Fees and Charges of Moneyview Collateral Free Business Loans
Given below are the fees and charges for business loans from Moneyview -
| Interest Rate | Starting from 1.33% per month |
|---|---|
|
Loan Processing Charges |
Starting from 2% of the approved loan amount |
|
Penal charges on Overdue EMI |
24% per annum plus applicable taxes, if any |
|
NACH Bounce |
Rs.500/- each time |
|
Loan Cancellation |
If you wish to exit the loan after it has been sanctioned, you can do so within 3 days of loan disbursement. The principal amount and other applicable charges, however, will have to be paid. |
For more details, you can also use our business loan EMI calculator to find out how much EMI you will have to pay.
How to Avail Moneyview Business Loan Without Collateral
Check Eligibility
Visit the Moneyview website or download the loan app and provide all the details required. We will then let you know your eligibility in just 2 minutes.
Select Loan Tenure
Select the loan amount and repayment term of your choice based on your eligibility
Upload Documents
Upload the required documents online effortlessly
Amount Disbursed
After your documents are verified and the loan agreement is submitted, the loan amount will be credited to your bank account within 24 hours in most cases
Conclusion
Availing collateral free loans for MSMEs or a business loan without security is extremely easy, thanks to Moneyview. You can now go ahead and grow your business without worrying about the funds.
Visit the Moneyview website or download the loan app and apply today.
Loan for Business without Security - FAQs
While most banks and lenders require applicants to have a CIBIL score of 750 and above, Moneyview uses a unique algorithm to understand a borrower’s creditworthiness. Therefore even those with relatively low credit scores can avail personal loans from Moneyview. However, a minimum CIBIL score and Experian score of 650 and above is necessary.
There are a number of loans offered by the Indian government for businesses and start-ups such as the Pradhan Mantri Mudra Yojana and CGTMSE. You can read more about these loans here.
Personal credit score plays a huge role in getting approval on a business loan, especially when the business is upcoming and small. To be able to avail loans from Moneyview, all you require is a CIBIL score and Experian Score of 650, as we use our alternative model of credit assessment to ascertain your creditworthiness.
Moneyview loans that could be used for businesses do not need any collateral of any sort. So it becomes very easy for you to avail of a loan for your business without worrying about arranging for collateral.
Our loans are extremely quick and efficient. Our eligibility check takes just 2 mins and your loan is disbursed to your account in a matter of 2 business hours after the approval of your loan.
Yes, as long as you meet the eligibility criteria and your loan gets approved by our system, you can avail of a loan for your start-up from Moneyview.
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