Get a Personal Loan Salary Less than 20000

Top Features and Benefits of Personal Loan

Flexible Loan Amount

Choose any loan amount of upto Rs. 5 lakhs

Quick Eligibility Check

Your eligibility check from Money View website or download the app takes only 2 minutes saving energy and time.

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

Avail loans at affordable rates starting at just 1.33% per month

Completely Paperless

Submit three documents - ID proof, address proof, and income proof - and you’re done!

Flexible Repayment Term

Applicants can enjoy flexible repayment tenures of up to 5 years

Loans on Low Credit Score

Get a loan If you have a minimum CIBIL score of 600 or Experian score of 650.

24 Hour Disbursal

Your loan will be credited within a day after your loan application has been approved

Eligibility Criteria for Money View Personal Loans

Our eligibility criteria is transparent and easy to understand as given below -

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 20000	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 15000	Metro City other than Mumbai and NCR	CIBIL Score of 600 /Experian Score of 650 and above
Self-Employed Individuals	Rs 15000	Any	CIBIL Score of 600 /Experian Score of 650 and above

If you fulfill the eligibility criteria given above, even if your salary is less than Rs. 20,000 you can still get a personal loan from Money View.

Documents Required for Applicants with Salary Less Than Rs. 20,000

Given below are our minimal documentary requirements for personal loan with salary less than Rs. 20,000 -

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

Personal Loan Interest Rates and Other Charges

Money View provides instant loans for those with a salary less than Rs. 20,000 at competitive rates. Take a look at the table below to know more -

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/hidden charges levied The interest amount for the period between loan disbursement and loan cancellation will be payable. Processing fees will also be retained

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/hidden charges levied
The interest amount for the period between loan disbursement and loan cancellation will be payable.
Processing fees will also be retained

How to Apply for Personal Loan for Below Rs. 20,000 Salary

Check Eligibility

Find out the maximum loan amount you’re eligible for online in 2 minutes

Select Loan Tenure

Choose a custom loan amount and the repayment period that suits your financial needs

Upload Documents

Provide your personal details and upload the necessary documents, all on the app or website

Amount Disbursed

Get the loan amount disbursed to your account in 2 hours of approval

Frequently Asked Questions (FAQs)

1. How much loan can I get on Rs. 20,000 salary?

Ans: You can avail personal loans of up to Rs. 5,00,000 from Money View. However, the exact amount will depend on your eligibility criteria.

2. Can I get a personal loan if my CIBIL score is low?

Ans: Generally it is important to maintain a CIBIL score of 750 or above while approaching a bank for a loan. Your score can get affected if you’ve defaulted on your previous loans or on credit card payments, or if you’ve repeatedly applied for loans or credit cards.

However, if your CIBIL score is below 750 and you need a personal loan urgently, don’t hesitate to turn to us. Thanks to our in-house credit rating model, we provide loans to those with a CIBIL score of 600 or above.

3. How can I track my personal loan 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/signup
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 Money View app

Open the Money View 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 Money View Loans app, you’ll be directed to the ‘Application Status’ screen automatically as soon as you open it

4. What can I use my Money View personal loan for?

Ans: Our personal loans are extremely versatile. You can use for a number of purposes such as -

To fund a wedding
For Home-repairs
Medical expenses
For vacation
For a loan down payment
Education purposes
To buy the latest gadget
To fund a business venture
To pay off credit card bills or build credit score

5. Will I get a loan if I get my salary in cash?

Ans: Currently we only provide loans to those individuals who get their salary directly credited to their bank account from their employer. We will not be able to give loans to applicants who get their salaries in cash.

Personal Loan for Below Rs. 20,000 Salary

Top Features and Benefits of Personal Loan

Eligibility Criteria for Money View Personal Loans

Documents Required for Applicants with Salary Less Than Rs. 20,000

Personal Loan Interest Rates and Other Charges

How to Apply for Personal Loan for Below Rs. 20,000 Salary

Loan EMI Calculators

Calculate Your EMI

Conclusion

Frequently Asked Questions (FAQs)

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