Personal Loans for Salaries Less Than Rs. 20,000

Now Personal Loans for Low-Income Individuals Are No Longer a Hassle

Have you hesitated to approach a bank for a personal loan because you’re drawing an income below Rs.20,000 per month? The primary reason for this is the number of formalities and questions you have to answer to prove your credibility and certify that you’re capable of repayment of the loan. You can’t really blame the bank because they’re following their own procedures, but at the same time, you get frustrated because you’re pressed for time.

Fortunately, this is where MoneyView steps in. As a private financial lender, we offer personal loans if your salary is less than Rs. 20,000. We believe anyone and everyone is entitled to a personal loan despite their low incomes. Our app provides a hassle-free, digitized, and completely paperless method of applying for a personal loan for individuals with income below Rs. 20,000.

Why Take a Personal Loan?

MoneyView is your one-stop solution to any immediate financial crisis. With our flexible repayment plans, low-interest rates, easy application procedure, and collateral-free loan options, we’re the preferred choice for individuals who want to apply for personal loans if their salary is below Rs. 20,000. Apart from a few mandatory documents to check your eligibility, you’ll find the application procedure smooth.

Reasons to Choose MoneyView for Your Personal Loan

The features and benefits that come with MoneyView are manifold. We’ll give you several convenient EMI plans that fit into your budget if you’re taking a personal loan on a salary below Rs. 20,000.

Features:

Benefits:

What to Do If You’re a CIBIL Defaulter?

Banks always do a CIBIL check before approving a loan. It’s important to maintain a CIBIL of 750 and above while approaching a bank for a loan. Your score can get affected if you’ve defaulted on your previous loans (housing loan, car loan, education loan, etc.), or on credit card payments, or if you’ve repeatedly applied for loans or credit cards.

If your CIBIL score is below 750 and you need a personal loan urgently, don’t hesitate to turn to us. We require a minimum score of 650 before approving a personal loan for individuals with salaries below Rs. 20,000.

What Is an Experian Score?

Like CIBIL, Experian is another Credit Bureau that assigns credit scores to individuals based on their past and present credit behavior. The methodology followed in assigning scores differs between credit bureaus, hence the credit scores are not uniform across credit bureaus.

Like the CIBIL score, the lower your Experian number, the lesser the possibility of obtaining a personal loan. A score of 850 is considered good enough for lenders to disburse a personal loan.

MoneyView’s minimum Experian expectation is 750. So if you’re drawing an income below Rs. 20,000 and need to take out a personal loan, we can make sure you get one.

Documents Required for Personal Loan Application for Income Below Rs. 20,000

Any 1 of the following as ID Proof:

Any 1 of the following as Address Proof:

Any 1 of the following as Income Proof for Salaried Employees:

Please note that since your salary is below Rs. 20,000, it must be credited to your bank account. We don’t accept cheques or cash amounts as proof of salary.

Steps to Apply for a Personal Loan Through MoneyView

What You Can Do on the MoneyView App

Contact Us

If you have questions about the personal loan application procedure, call us at 080-4569-2002 or write to us at loans@moneyview.in or download the MoneyView app right away.