Online Loan App, Best Personal Loan App in India

Q: 1. What Are The Factors That Affect Personal Loan Interest Rates?

Ans: Given below are the factors that impact Moneyview's interest rates -Credit Score Your credit score is a numerical representation of your creditworthiness. The higher the credit score, the lower is the risk of defaulting for the lender therefore interest rates are on the lower side. If your credit score is lower than 700, your chances of getting a low-interest rate will be less. However, there are a number of steps that can be taken to increase your credit scoreRepayment History Having a flawless repayment history will help you get personal loans at low-interest rates as this shows the lender that you are capable of repaying your debts on timeEmployment Type Having a steady secured job will reduce the risk of defaulting on loans as salary is credited regularly and therefore those with secure jobs can generally avail of personal loans at lower rates of interestIncome Having a good income every month is essential but if you have taken multiple loans that need to be paid from that income, then the risk of default is high, therefore the interest rate charged in this case will be on the higher side

Top Features and Benefits of Personal Loan

Flexible Loan Amount

Everyone’s requirements will vary therefore applicants can borrow any amount between Rs, 5,000 to Rs. 10 lakhs based on their eligibility.

Quick Eligibility Check

Imagine checking for your eligibility within just 2 minutes! This is possible if you are applying for a personal loan from Moneyview.

Collateral Free Loans

To apply for a personal loan through Moneyview, you don’t have to pledge any asset or arrange for a guarantor

Affordable Interest Rates

We understand how important interest rates are as they determine the EMI amount to be paid. At Moneyview, the interest rate starts at just 1.33% per month

Completely Paperless

Right from application to loan disbursement, the entire process of availing a loan from Moneyview is completely paperless and digital.

Flexible Repayment Term

Applicants can enjoy flexible repayment tenures of up to 5 years or 60 months

Loans on Low Credit Score

The minimum score required is a CIBIL score or Experian score of 650.

24 Hour Disbursal

The loan amount is disbursed to your account in 24 HOURS of approval.

Perks of Taking A Loan On Moneyview Loan App

Moneyview has its own set of advantages that make it unique when compared to other loan apps. We have over 10 million happy users and here’s why:

You can apply for a loan instantly in under 2 minutes.
You can choose a loan tenure of up to 5 years. This will help you get a lesser EMI and you’ll be able to make payments on time.
You can get for loans starting at Rs. 10,000 and going up to Rs. 5,00,000.
Once your application is approved, the loan is disbursed within 2 hours.
The entire process is done digitally with zero paperwork.
Our eligibility criteria and documentation requirements are minimal

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 650 /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 650 /Experian Score of 650 and above
Rs 15,000	Metro City other than Mumbai and NCR	CIBIL Score of 650 /Experian Score of 650 and above
Self-Employed Individuals	Rs 15,000	Any	CIBIL Score of 650 /Experian Score of 650 and above

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 650 /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 650 /Experian Score of 650 and above

Rs 15,000

Metro City other than Mumbai and NCR

CIBIL Score of 650 /Experian Score of 650 and above

Self-Employed Individuals

Rs 15,000

Any

CIBIL Score of 650 /Experian Score of 650 and above

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) Aadhaar Card Valid Indian Passport Valid Voter ID Valid Driver’s License	Any 1 of the following - Aadhaar Card Valid Indian Passport Valid Voter ID Valid Driver’s License Utility Bills (Electricity, Water, Gas) dated within the last 60 days	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

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)

Aadhaar Card
Valid Indian Passport
Valid Voter ID
Valid Driver’s License

Any 1 of the following -

Aadhaar Card
Valid Indian Passport
Valid Voter ID
Valid Driver’s License
Utility Bills (Electricity, Water, Gas) dated within the last 60 days

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 & Charges	Amount Chargeable
Interest Rate	Starting from 1.33% per month
Loan Processing Charges	Varies from 2% to 8% of the approved loan amount. The processing fee is deducted upfront from the approved loan
Interest on Overdue EMIs	2% per month on the overdue EMI/Principal loan amount
Cheque Bounce	Rs.500/- each time
Loan Cancellation	No additional/hidden charges levied Processing fees will also be retained

Fees & Charges

Amount Chargeable

Interest Rate

Starting from 1.33% per month

Loan Processing Charges

Varies from 2% to 8% of the approved loan amount. The processing fee is deducted upfront from the approved loan

Interest on Overdue EMIs

2% per month on the overdue EMI/Principal loan amount

Cheque Bounce

Rs.500/- each time

Loan Cancellation

No additional/hidden charges levied
Processing fees will also be retained

Frequently Asked Questions (FAQs)

1. What Are The Factors That Affect Personal Loan Interest Rates?

Ans: Given below are the factors that impact Moneyview's interest rates -

Credit Score

Your credit score is a numerical representation of your creditworthiness. The higher the credit score, the lower is the risk of defaulting for the lender therefore interest rates are on the lower side. If your credit score is lower than 700, your chances of getting a low-interest rate will be less. However, there are a number of steps that can be taken to increase your credit score

Repayment History

Having a flawless repayment history will help you get personal loans at low-interest rates as this shows the lender that you are capable of repaying your debts on time

Employment Type

Having a steady secured job will reduce the risk of defaulting on loans as salary is credited regularly and therefore those with secure jobs can generally avail of personal loans at lower rates of interest

Income

Having a good income every month is essential but if you have taken multiple loans that need to be paid from that income, then the risk of default is high, therefore the interest rate charged in this case will be on the higher side

2. What Can I Use Moneyview Personal Loans For?

Some of the reasons for which you can avail a personal loan from Moneyview are -

To buy household gadgets like fridge, washing machine, etc
To pay down-payment for another loan
To clear credit card dues
For house renovation expenses
Pay fee for college/school education
To pay for a vacation
To pay for the repair/breakdown of your vehicle
To meet wedding expenses
To meet expenses towards relocation

3. How Can I Track My Moneyview Application Status?

Once you have submitted an application, you can track your application status on our app or website by following the steps below -

If you’ve applied on our website

Go to the login section on the website by clicking here: /apply-loan/login
Login into your loan account with your registered email ID
Go to the ‘Dashboard’ section of your loan account
Scroll down to the ‘Application Status’ tab to know the status of your loan application

If you’ve applied on the Moneyview app

Open the Moneyview app
Register yourself with a valid email ID if you haven’t done it yet
Head over to the ‘Loans’ section
You will then be automatically redirected to the ‘Application Status’ screen where you can check your application details
If you have the Moneyview Loans app, you’ll be directed to the ‘Application Status’ screen automatically as soon as you open it

Moneyview Online Loan App

India's Best Personal Loan App offering Rs. 5K to Rs. 10 Lakh

Top Features and Benefits of Personal Loan

Introducing Moneyview Loans - The Best Online Loan App in India

Perks of Taking A Loan On Moneyview Loan App

Eligibility Criteria for Personal Loan from Moneyview Online Loan App

Documents Required for Personal Loan from Moneyview Online Loan App

Fees and Charges for Personal Loan from Moneyview Online Loan App

Loan EMI Calculators

Calculate Your EMI

Conclusion

Frequently Asked Questions (FAQs)

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