Credit cards are extremely beneficial as long as their bills are paid on time. However, if you delay your payments, then debt can pile up which might get difficult to repay. In such cases, availing a loan for credit card payment will be beneficial.
Money View Personal Loans for Credit Card Repayments
It’s quite easy to get caught in the frenzy of using a credit card. However, the downside is the huge interest rate that accumulates when you skip payments or pay off just the minimum amount mentioned by the bank.
If you are having difficulties paying the outstanding amount, then you could avail a credit card repayment loan to help you clear the dues. Money View provides affordable loans with flexible repayment options making it the perfect option for credit card payment.
Benefits of Money View Loan for Credit Card Payment
Given below are some of the unique advantages offered by Money View -
Flexible Loan Amount
Money View offers personal loans of up to Rs. 5 lakhs
Flexible Repayment Terms
Choose a repayment term of upto 60 months
Low Interest Rates
We understand how important affordable personal loans are. Therefore, Money View interest rates start at 1.33% p.m.
No Need for Collateral/Security
A personal debt consolidation loan can be availed without having to provide any collateral or security
24 Hour Loan Disbursal
Our personal loan is disbursed to your bank account within 24 business hours after the approval
Hassle-free Online Process
Right from application to document submission to disbursal, you can avail loans for credit card payments from Money View at any time from anywhere
Available Even For Applicants with Low-Credit Scores
Money View provides personal loans to anyone with a CIBIL score of 600 or Experian score of 650 and above. We have our own in-house credit model that helps us assess the creditworthiness of our customers
Eligibility Criteria for Money View Loan for Credit Card Payment
Fulfill the eligibility criteria given below to avail loans from Money View -
- 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 Money View Loan for Credit Card Payment
Enjoy the benefits of minimal documentation. All we need are three documents from you -
| 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
OR Self-Employed Applicants - Last 3 months’ bank statements in PDF format if you are self-employed |
Fees and Charges for Money View Loan for Credit Card Payment
We understand how important affordable loans are. Take a look at our advantageous fees and charges below -
| 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 |
|
In Conclusion
It’s always a good idea to pay off your entire credit card bill every month instead of just the minimum amount. Clearing off the minimum amount month on month can have an adverse effect on your credit score because the interest rate accumulates, which results in lowering your ability to take out loans in the future. Luckily, Money View loans are here to save the day. Avail a personal loan to clear credit card outstanding bills today by visiting the Money View website or download the loan app today.
If you have any further questions, our team will be happy to assist you. Call us at 080-4569-2002.
Loan for Credit Card Payment - Related FAQs
A credit card takeover loan is essentially a loan that is availed at a lower interest rate to help clear off your credit card debt that is usually at a high rate of interest. Money View personal loans are the perfect solution for you if you need to clear your credit card debt.
While most banks and lenders require applicants to have a CIBIL score of 750 and above, Money View uses a unique algorithm to understand a borrower’s creditworthiness. Therefore even those with relatively low credit scores can avail personal loans from Money View. However, a minimum CIBIL score of 600 and above or a minimum Experian score of 650 and above is necessary.
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