Personal loans are a safe and convenient way of meeting any sudden and urgent cash requirement that’s difficult for you to arrange otherwise. While there are multiple personal loan lenders in the country, you have to meet their eligibility criteria to avail of a loan. One of the major criteria specified by every lender is the minimum monthly income which is mandatory to fulfill in order to get a loan application approved.
While most lenders usually specify a high monthly income as one of the loan criteria, individuals whose monthly salary is less than Rs.15,000 can apply for personal loans through Money View. So if you are a salaried person with a monthly income less than Rs.15,000, it’s possible for you to get a loan through Money View if you meet all the criteria.
Check out the eligibility criteria for salaried individuals to avail a personal loan from Money View.
| Loan Criteria | Salaried Individuals |
|---|---|
| Minimum monthly income (in-hand) |
|
| Age of the applicant | 21 years - 57 years |
| Credit Score of the applicant |
|
** Your income should be credited into your bank account every month.
The most significant benefits of applying for personal loans through Money View are listed below:
You can instantly check your eligibility and apply for a personal loan in just 2 minutes through the Money View app, website, or channel partners.
You can opt for a loan amount between Rs.10,000 and Rs.5,00,000 depending on your income and credit score.
On applying for a personal loan through Money View, you would be charged a low interest rate that starts at 1.33% per month.
You would be surprised to know that once you submit the necessary documents along with the information asked for, the loan amount gets credited into your bank account within 2 hours after the same is approved.
You don’t have to arrange for any guarantor or pledge any asset while applying for personal loans through Money View.
Repay your debt through monthly installments and save yourself from the burden of paying the entire sum in one go. Also, the auto-debit feature helps you pay the EMIs on time and protects you from late-payment penalties.
Because there’s no paperwork involved in the Money View loan application process, it’s hassle-free and quick. Also, you can apply for loans on Money View from any part of the country.
For your convenience, Money View gives you the option to choose a loan repayment period of up to 5 years.
Our interest rates and other charges on our instant personal loans are extremely pocket-friendly and competitive.
| Type of Charge | Amount |
|---|---|
| Interest Rates on Loans | Starts at 1.33% per month |
| Charges for Loan Processing | 2% to 8% of your approved loan amount |
| Penalty on Overdue EMIs | 2% per month on the overdue amount |
| Loan Foreclosure Charges |
|
You would need to submit a minimum number of documents online to avail of a personal loan from Money View.
| Proof Category | Documents |
|---|---|
| ID Proof |
Any one of these:
|
| Address Proof |
Any one of these:
|
| Income Proof (salaried people) | Last 3 months’ bank statement (salary account) in PDF format |
| Income Proof (for self-employed) | Last 3 months’ bank statement (PDF format) or last 2 years’ ITR |
By following the steps listed below, you can effortlessly apply for a personal loan on Money View.
By entering the basic details listed on the Money View website, you would know the loan amount that you are eligible for.
The Money View app/website lets you choose your loan amount as well as the repayment period as per your convenience.
Use the Money View app to upload the relevant documents and fill out the form that Money View shares with you.
Once Money View verifies your application and documents, it would share a NACH form seeking your consent for the auto-debit of the loan EMIs. You just have to take a print out of the same, sign on it, and then upload the scanned copy on the Money View app.
Once you upload the NACH form, you would receive a loan agreement form. You only need to review the form and submit it on the Money View app. You would be receiving the loan amount in your bank account within hours of submitting the agreement.
