If you are someone typing out ‘personal loan salary less than 20000’ and trying hard to avail a loan with low income, you have come to the right place.

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

Steps to Avail Personal Loans with Salary Less than Rs. 20,000

If you wish to avail a loan from Money View if your salary is less than Rs. 20,000, follow the steps given below -

Check Your Eligibility

Visit the Money View website or download the app. Provide all the details required and we will let you know your eligibility in just 2 minutes

Select Your Plan

Depending on your eligibility, you will have to select the loan amount and repayment term of your choice

Provide required documents

Easily upload all of the necessary documents online for verification - 100% paperless and hassle-free

Instant Loan Disbursal

After your documents are verified and loan agreement is submitted, the loan amount will be credited to your bank account within 24 hours

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 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.

Reasons to Choose Money View for Your Personal Loan

The features and benefits that come with Money View are manifold as given below -

Instant Eligibility Check

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

Flexible Loan Amount

Choose any loan amount starting 5,000 up to Rs. 5 lakhs months

Flexible Repayment Term

Borrowers can enjoy flexible repayment tenures of up to 60 months

Minimal Documentation

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

Loans with Low Credit Score

Getting a loan with a minimum CIBIL score of 600 or Experian score of 650 is a must.

100% Paperless

The entire process from application to disbursal is quick and hassle-free

24 Hour Disbursement

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

In Conclusion

You can now avail a personal loan with Rs. 20,000 salary easily at competitive rates. Our transparent eligibility criteria, hassle-free application process, and minimal documentation requirements will help you avail a personal loan easily. Avail an instant loan at competitive rates by visiting the Money View website or download the app today!

Personal Loan Salary Less than 20000 Related FAQs

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.

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.

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

  1. If you’ve applied on our website
    1. Go to the login section on the website by clicking here: /apply-loan/signup
    2. Login into your loan account with your registered email ID
    3. Go to the ‘Dashboard’ section of your loan account
    4. Scroll down to the ‘Application Status’ tab to know the status of your loan application
  2. If you’ve applied on the Money View app
    1. Open the Money View app
    2. Register yourself with a valid email ID if you haven’t done it yet
    3. Head over to the ‘Loans’ section
    4. You will then be automatically redirected to the ‘Application Status’ screen where you can check your application details
    5. If you have the Money View Loans app, you’ll be directed to the ‘Application Status’ screen automatically as soon as you open it

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

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.