Did you know that urgent loans for bad credit is a possibility now? If you have a low credit score but require a personal loan, we at money view provides loans to even those with credit scores as low as a CIBIL score 600 or Experian score of 650.
Thanks to Money View’s unique credit rating model, even if you have a relatively low credit score, you can get a loan. So, if you want an urgent loan with bad credit in India, you know where to apply.
Loans with Low Credit Score
Those with relatively lower credit scores can avail personal loans easily on minimum CIBIL score of 600 or Experian score of 650
Instant Eligibility Check
Complete your eligibility check from Money View website or download the app within just 2 minutes
Flexible Loan Amount
Depending on your eligibility you can choose any loan amount of upto Rs. 5 lakhs
Flexible Repayment Term
Applicants can enjoy flexible repayment tenures of up to 60 months
100% Paperless
The entire process from application to disbursal is quick and hassle-free
Minimal Documentation
All you need to submit are three documents - ID proof, address proof, and income proof
24 Hour Disbursement
Your loan will be credited within a day after your loan application has been approved
If you wish to avail a loan from a reputed private finance company such as Money View, you will have to 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
Choose the loan amount and repayment term of your choice based on your eligibility
Provide required documents
Upload the required documents online easily and effortlessly
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
If you have a low credit score, you can still avail a personal loan from Money View if you fulfill the eligibility criteria given below -
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 |
Given below is a city-wise breakdown of the income and credit score requirement -
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 |
Money view’s personal loans for bad credit 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 | 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 |
|
Individuals may end up with a bad credit score due to a number of reasons and moving from a bad credit score to a good credit score takes some time.
However, the need for credit could come up at any time. If you have a low credit score then do not worry, with Money View personal loans you can still get a loan for bad credit. Thanks to our unique credit rating model, we require applicants to only have a CIBIL score of 600 or more or Experian score of 650 or more.
Technically speaking, a bad credit loan refers to loans that are provided to those that have low credit scores. In order to easily avail loans, one must have a credit score of 750 or more. But this may not be possible for everybody. Therefore, certain loan providers such as Money View provide loans to even those with credit scores as low as a CIBIL score 600 or Experian score of 650. So, if you’re looking at loans for bad credit, you know where to apply.
One could end up with a bad credit score due to a lot of reasons which can vary from one person to another. However, the most common reasons due to which individuals might land up with bad credit are -
Secured loans are those that are provided against collateral such as home loans, auto loans, gold loans, etc. Unsecured loans are those that do not require collateral such as personal loans. Money View personal loans for bad credit are unsecured loans and do not require any collateral or security.
If you have a low credit score and but have some form of collateral, you can avail the following loans -
When bad credit loans are availed against collateral, the amount of the loan will always be tied to the value of the asset allowed as collateral. However, with low credit scores, even with collateral, your interest rate will be on the higher side.
Loans for bad credit are loans that are provided to individuals with low credit scores. As the lenders take on more risk when lending to less creditworthy individuals, they tend to compensate for it by altering certain terms and conditions of the loan as given below -
Yes, you can. Thanks to Money View’s alternate credit rating model, as long as your CIBIL score is above 600, you can get a personal loan from us.