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 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
Same day loans are those loans that are disbursed within 24 hours. This is quite a new concept in the Indian markets and while the exact type of loan may not be offered, certain online lenders such as we at Money View provide loans in 24 hours of application approval.
Certain banks have also introduced this concept, however, they are mostly restricted to their existing customers and come in as pre-approved offers.
Eligibility Criteria for 24-Hour Loans from Money View
If you meet the eligibility criteria given below, you can easily avail same-day loans from Money View -
- 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 20,000 | 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 15,000 | Metro City other than Mumbai and NCR | CIBIL Score/Experian Score of 650 and above | |
| Self-Employed Individuals | Rs 15,000 | Any | CIBIL Score/Experian Score of 650 and above |
Documents Required for 24-Hour Loans from Money View
At Money View, we require minimal documentation as given below -
| 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 |
Fees and Charges from Money View
Every loan applicant wants to avail a loan that is most affordable. Money View’s same-day loans come with competitive interest rates and have no hidden charges whatsoever. Our fees and charges are -
| Fees & Charges | Amount Chargeable |
|---|---|
| Interest Rate | Starting from 1.33% per month |
| Loan Processing Charges | Varies from 2% to 8% of the approved loan amount. The processing fee is deducted upfront from the approved loan |
| Penal charges on Overdue EMI | 24% per annum plus applicable taxes, if any |
| NACH Bounce | Rs.500/- each time |
| Loan Cancellation |
|
Note -
- After your documents are verified, you will receive a NACH form which needs to be printed, signed, scanned, and sent back to Money View
- This step will enable the auto-debit facility from your bank account and allow you to pay your EMIs on time automatically without the need for 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
How to Apply for Same Day Loans
Check Eligibility
Provide the required details and find out if you’re eligible for a loan in just 2 minutes.
Select Loan Tenure
Choose the loan amount and repayment term of your choice based on the options provided.
Upload Documents
You’ll have to upload all the relevant documents after which they will be verified
Amount Disbursed
Post verification and submission of loan agreement, the loan amount will be credited to your account within 24 hours
Conclusion
Same-day loans are a boon to those looking for emergency financial assistance. However as this concept is quite new, not all lenders offer 24-hour loans. Money View loans on the other hand provides borrowers with loans within 24 hours of application approval making this one of the best choices for individuals who need instant personal loans.
Same Day Loan - Related FAQs
A good credit score is an irreplaceable requirement for getting any kind of credit these days. However, there may be many individuals who do not have a high credit score but need loans urgently. While getting a same-day loan from a traditional source with a bad credit score is quite difficult, online loans may be a better option.
At Money View, thanks to our unique credit rating system, even those with relatively low credit scores can avail 24 hour loans. Borrowers need to have a minimum CIBIL score or a Experian score of 650.
Yes, we do lend to self-employed applicants. However, you must fulfill the eligibility criteria given below -
- Your monthly in-hand income must be above Rs.15,000 per month
- Income must be credited to a bank account
- You must be between 21 to 57 years old
- You must have a CIBIL score or an Experian score of 650 and above
INTERLINKS
- Factors to Know Before Applying for a Loan
- Personal Loan Rules and Regulations in India
- Loan Recovery Process
- Personal Loan Settlement Process
- Apply Loans for CIBIL Defaulters
- Legal Action for Loan Defaulters
- What Happens When the Borrower Fails to Repay the Loan?
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- RBI Rules for Loan Guarantor
- Personal Loans for Unemployed
- Government Business Loan Schemes
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- Loan Moratoriums Details
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