Top Features and Benefits of Personal Loan
Flexible Loan Amount
Choose any loan amount of upto Rs. 10 lakhs
Quick Eligibility Check
Your eligibility check from Moneyview website or download the app takes only 2 minutes saving energy and time.
Collateral Free Loans
To apply for a personal loan through Moneyview, 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
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 Moneyview 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 or 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 /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 /Experian Score of 650 and above | |
| Rs 15000 | Metro City other than Mumbai and NCR | CIBIL Score /Experian Score of 650 and above | |
| Self-Employed Individuals | Rs 15000 | Any | CIBIL Score/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 Moneyview.
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)
|
Any 1 of the following -
|
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
Moneyview 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 |
| Penal charges on Overdue EMI | 24% per annum plus applicable taxes, if any |
| NACH Bounce | Rs.500/- each time |
| Loan Cancellation |
|
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
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 Moneyview website or download the app today!
Frequently Asked Questions (FAQs)
You can avail personal loans of up to Rs. 10,00,000 from Moneyview. 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 650 or above.
Once you have submitted an application, you can track your application status on our app or website by following the steps
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.
INTERLINKS
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