Top Features and Benefits of Personal Loan

Flexible Loan Amount

Since every applicant's requirements are different, they can borrow anywhere between Rs. 5,000 and Rs. 5 lakhs.

Quick Eligibility Check

Did you know that you can check your eligibility in just 2 minutes! Yes, you read it right! It’s only possible if you are applying for a personal loan from Money View.

Collateral Free Loans

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

Affordable Interest Rates

We understand the significance of interest rates in determining the EMI to be paid. Money View's monthly interest rate starts at just 1.33 percent.

Completely Paperless

From loan application to loan disbursement, Money View offers a completely paperless and digital loan application process.

Flexible Repayment Term

Along with the flexible loan amount, flexible repayment terms of 5 years or 60 months are also available to applicants

Loans on Low Credit Score

The minimum score required to avail a loan from MoneyView is a CIBIL score of 600 or Experian score of 650.

24 Hour Disbursal

The loan amount is deposited into your bank account within 24 HOURS of approval.

Personal loans are unsecured loans offered by financial institutions based on various factors, such as a borrower's employment history, repayment ability, income level, profession, and credit history. 

One of the reasons for the growing popularity of Personal Loan is that it is an unsecured loan that does not require collateral and has a quick processing time. You can get a Personal Loan from any bank or non-banking financial institution of your choice.

Can Self-Employed Individuals Avail A Personal Loan Without ITR?

Yes. Applicants can easily obtain personal loans without any ITR. However, only certain lenders, such as MoneyView, provide loans to self-employed applicants without the ITR. At Money View, we value customer satisfaction and place a high emphasis on minimal documentation and a hassle-free application process.

To avail a personal loan from Money View, one will have to fulfill the eligibility criteria given below -

  • To qualify for the loan, applicants must have a monthly in-hand income of Rs. 15,000
  • All income must be credited directly into the bank account of the applicants
  • A minimum CIBIL score of 600 or Experian score of 650 is required
  • Applicants must be 21 to 57 years of age

Given below are the documents required to avail a Money View personal loan -

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 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
  • No additional charges levied
  • Processing fees will also be retained

Note -

  • Once your documents are verified, you will receive a NACH form which needs to be printed, signed, scanned, and sent back to us
  • This step will enable the auto-debit facility from your bank account and allow you to pay your EMIs on time automatically without the need for any manual intervention
  • On receiving your NACH form, you will need to review the loan agreement on the app. Please submit the application after reviewing all the terms and conditions thoroughly

How to Apply for An Instant Personal Loan for Self-Employed

Check Eligibility

You will receive your eligibility in 2 minutes after submitting the required details

Select Loan Tenure

Depending on your preferences, you can choose a loan amount and repayment term

Upload Documents

Make sure all the necessary documents are uploaded online so that they can be verified

Amount Disbursed

In 24 hours after submitting your loan agreement, you will receive the loan amount in your account

Conclusion

Self-employed individuals can now easily apply for and avail a personal loan without having to provide an ITR. Money View, one of India’s leading money lenders, does not ask for an ITR. All you have to do is submit your income proof, fulfill the necessary eligibility criteria and you can have your loan in just 24 hours of your approval. Visit the Money View website or download the app  now to apply and avail the loan today.

Personal Loan for Self Employed without ITR - Related FAQs

Ans: No, without income proof you cannot avail personal loans. You will need to provide bank statements as proof of your income.

Ans: To successfully apply for a loan from any financial institution, your credit score is one of the most critical factors. However, at Money View, we use a unique credit rating system that takes into account not just your credit score but other criteria as well. Therefore, a CIBIL score of 600 and above or an Experian score of 650 and above is good enough for you to apply for an instant personal loan on Money View.

Ans: Interest rates on personal loans vary based on various factors, some of which are given below -

  • Income: The higher you earn, the lower you pay as interest. When you have a high income, the bank’s lending risk plummets as it believes that you wouldn’t have much difficulty in repaying the loan amount. However, if you have multiple loans running at the same time then your interest rates will be higher.
  • Past Loan Repayment: Loan lenders scrutinize your previous loan repayment behavior and gauge your creditworthiness once they receive your loan application. If you hold a credible record of loan repayment, you would enjoy low-interest rates.
  • Nature of Your Business: If your business is risky and prone to a lot of market changes, lenders would be extremely careful while assessing your application and may charge you a high-interest rate.
  • Your Business Reputation: If you have been in your industry for quite some time and have earned a good reputation for your firm, lenders would consider it as stable and would charge a low-interest rate on your loans. In the same vein, new business owners would have to pay relatively higher rates of interest.

Ans: Self-employed individuals who earn a minimum of Rs. 15,000 per month can avail personal loans from Money View

Ans: Money View offers instant and online loans without requiring collateral, security, or guarantors.

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