Are you looking for an urgent small loan to finance an unexpected commitment? We’ve got you covered. Read on to know more.
Sometimes, you may need just a small amount of loan to finance your requirements. Most traditional lenders may not even offer a smaller loan amount and even if they do, the process to avail it will be tiresome and complicated. Instead, a feasible option would be to avail small personal loans from Money View, one of the leading lenders in the country.
Essentially personal loans of smaller quantum are popularly known as small loans and at Money View you can avail any amount between Rs. 5, 000 to Rs. 5 lakh.
Here’s why Money View is your best bet to get small loans online -
No Security Needed
To apply for a personal loan through Money View, you don’t have to pledge any asset or arrange for a guarantor
Minimal Documentation
We require just three documents - ID proof, Address proof, and income proof
Quick Eligibility Check
You can easily check your eligibility for a personal loan within 2 minutes on our app or on the website
100% Online
Money View offers an entirely digital loan application process with no paperwork involved at all
Flexibility to Choose Loan Amount and Repayment Term
You can choose any amount from Rs.5,000 to Rs.5,00,000 depending on your credit score. To repay the loan, you can choose a period of up to 5 years.
Instant Disbursement
Once your loan application gets approved, your loan amount is disbursed within 24 business hours.
Convenience
Apart from the digital process where you upload the documents and review the loan agreement using your smartphone, the experience is also simplified through the EMI auto-debit facility.
Reasonable Rate of Interest
Personal loans applied through Money View are extended with interest rates starting at just 1.33% per month.
Anywhere in India
Digital application implies that you can apply for a personal loan from anywhere in the country and get it approved within hours.
Now that you know the benefits of applying for small instant loans online through Money View, here is our eligibility criteria -
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 20,000 |
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 15,000 |
Metro City other than Mumbai and NCR |
CIBIL Score of 600 /Experian Score of 650 and above |
|
|
Self-Employed Individuals |
Rs. 15,000 |
Any |
CIBIL Score of 600 /Experian Score of 650 and above |
We constantly work to ensure our customers’ comfort which is why our documentation requirements are minimal 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 |
Our fees and charges are affordable and transparent as given below -
|
Fees and 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 |
If you have fulfilled our eligibility criteria and have the required documents, you can start applying by following the steps below -
Visit the Money View website or download the app, provide all the necessary details, and we will let you know your eligibility in just 2 minutes
Based on the options given, you will have to select the loan amount and repayment term of your choice
Easily upload all of the necessary documents online for verification
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 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
Getting small personal loans does not have to be complicated. You do not have to worry about physically applying for a loan or submitting multiple documents as lenders such as Money View offer simplified and hassle-free application processes. All you need to do is visit the Money View website or download the app to apply today.
Ans: No, you will not be able to get instant small loans without documentation. We will require proof of identity, address, and income in order to accept and process your loan application.
Ans: Yes, you can get a small loan online through Money View even if you’re self-employed. Please fulfill the following eligibility requirements to apply -
Minimum income of Rs. 15,000 per month
Income must be credited directly to your bank account
You must be between 21 years and 57 years old
Minimum CIBIL score of 600 or minimum Experian score of 650
Ans: At Money View, we use a unique in-house model to assess our applicants’ creditworthiness. Therefore, as long as your CIBIL score is above 600 or your Experian score is above 650, you can still avail small loans online from Money View.
