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One of the easiest loans to avail, personal loans are a popular choice of credit of many individuals across cities and age groups.MoneyView personal loans come across as the best paperless personal loan in India as they are fast, hassle-free and secure.
MoneyView personal loans come loaded with features and benefits to make the process of availing a personal loan completely secure and stress-free.
Our eligibility check takes just 2 minutes to let you know your loan eligibility. This requires submission of just a few details and saves you the hassle of doing complicated calculations to calculate how much loan you can get on your salary or income.
You decide how much you want to borrow. You can get personal loans for any amount between Rs. 10,000 and Rs. 5,00,000. We just let you know your eligibility, the freedom to choose your loan amount is completely yours.
MoneyView lets you be in charge of your finances. So you can decide your repayment tenure. The repayment of our personal loans can go up to 60 months.
The loan amount is disbursed to your account in 24 HOURS of approval. This saves you the hassles of making repeated calls or sending emails to check about the disbursement status.
Benefit from pocket-friendly interest rates starting from 1.33% per month as we understand the effect of high-interest rates on your household budget.
From documentation to repayment, the entire process is done digitally. You can easily forget about submitting photocopies of your documents and making multiple trips to the bank to do so.
We have developed advanced internal credit scoring models that rate your creditworthiness based on many other data points. So, you can get personal loans even on a low credit score. However, you should have a minimum CIBIL score of 650 or an Experian Score of 750.
Interest rates and processing fees associated with personal loans also matter as it increases the outgo on the loan. We understand your concern, hence MoneyView loan is pocket-friendly and fits into your budget, which makes our personal loans one of the best offered in the market.
Read on to know more about our competitive interest rates and other charges!
| Fees & Charges | Amount to be Paid |
|---|---|
| Interest Rate | Starting from 1.33% per month |
| Loan Processing Charges | Starting from 2.5% and going up to 6% of the approved loan amount |
| Part/Full Payment of the Loan (Loan Foreclosure) |
|
| Interest on Overdue EMIs | 2% per month on the overdue EMI/Principal loan amount |
| Cheque Bounce | Rs.500/- for every bounce |
| Loan Cancellation |
|
We ensure we follow broad eligibility criteria to ensure that as many people as possible can get a personal loan online easily. Our personal loan criteria for both salaried and self-employed individuals are clearly enumerated below for your reference.
Be sure you clearly read through the criteria to avoid rejections after applying for our personal loan.
| Income and Credit Score Eligibility Criteria | ||||
|---|---|---|---|---|
| Minimum In-Hand Income | Area of Residence | CIBIL Credit Score Requirement | ||
| Salaried Individuals | Rs 20000 | Any | 1-299 or New to Credit | |
| Rs 20000 | Mumbai/Thane or the NCR region (Delhi, Noida, Gurgaon, Ghaziabad, Faridabad, etc.) | CIBIL Score of 650 /Experian Score of 750 and above | ||
| Rs 15000 | Metro City other than Mumbai and NCR | 675 or above | ||
| Rs 13500 | Any | CIBIL Score of 650 /Experian Score of 750 and above | ||
| Self Employed Individuals | Rs 25000 | Any | CIBIL Score of 650 /Experian Score of 750 and above | |
Loans from banks and other financiers generally demand extensive documentation when applying for any loan. On the other hand, you can experience a completely paperless loan application process when applying for MoneyView Instant Personal Loan.
Our documentation process is simple and we require just three documents uploaded on our App or Website as a part of your loan application process.
Anyone of the government-issued identity proof which clearly shows your Date of Birth in dd/mm/yyyy is allowed. It could be anyone from your Voter Id, Aadhaar Card, Valid Driver’s License or Passport or your PAN Card
Anyone of these original, valid documents showing your current address pin code can be submitted as proof of your address. They could be Aadhaar Card, Ration Card, Utility Bills like Telephone, Electricity, etc, Voter ID Card or Bank Statement/Passbook. We accept utility bills and bank statements generated within the last 60 days only.
For Salaried Individuals: Last 3 months’ bank statements in PDF format showing salary credits or your last 3 months' salary slips with important details, including your employer's name is legible.
For Self-Employed Individuals: Last 3 months’ bank statements in PDF format or your last 2 years' Income Tax Returns with important details, including tax paid details being legible.
Application for a loan from MoneyView can be done quite easily. All it takes is 4 simple steps from application to disbursal. We have designed this process to ensure that your requirement for a personal loan is met at the earliest and without any undue delays.
Our four-step process is:
Many individuals spend a lot of time calculating the maximum amount of loan that they can avail based on their salary /income. With our eligibility check process, 2 minutes is all you would need to spend to know your loan eligibility.
We allow you total freedom to choose a loan amount and the repayment term for your loan. You can choose a loan amount between Rs 10000 to Rs 500000 and a repayment term of up to 60 months.
You will then provide your personal details and upload the necessary documents, all on the app or website.
Once all your documents are approved, you will get the loan amount disbursed to your account in 24 hours.
Personal Loans from Private Finance like MoneyView come with many advantages over applying for a personal loan with traditional sources like a bank or financial institutions. Some of the important advantages for an individual applying for our Online Personal Loans are:
Our 2 mins eligibility check gets you started off and informs you of your loan eligibility in no time. This lets you plan your finances and loan requirements without wasting any time.
When you are in need of a personal loan, you wouldn’t want to take the trouble of submitting tonnes of documents and making multiple trips to the banks. We offer an end-to-end paperless process which means from approval to disbursal the entire process is done online.
We have developed an alternative credit scoring model which ensures that individuals with low credit scores also can get personal loans easily. We take into account many other data points to assess the creditworthiness of our applicants. So we lend to individuals with a minimum CIBIL Score of 650 or an Experian Score of 750.
Our personal loans are not tied down to any branch or a city. These easy personal loans could be availed anywhere across India from the comfort of your homes or offices.
Instant Personal Loan comes with a lot many advantages as it could be used for many reasons. It is highly flexible as it allows you to choose the amount and tenure based on your requirements. Some of the purposes for which you can use MoneyView Instant Personal loans are:
Emergencies come unannounced and can be a drain on your finances. To tide over these emergencies, you could always use a little help in the form of our instant personal loan.
Our paperless instant personal loan comes with a low-interest rate starting at 1.33%. So this comes across as a cost-effective method of paying off all your high-interest loans.
A good credit history means a good credit score. Get a personal loan from MoneyView which is pocket-friendly and easy to avail and pay it all back on time to build a solid credit score. It was never easier!
Credit-card outstanding that remain unpaid at the end of the billing period are charged a high rate of interest (30-40% p.a). Use our personal loans to pay off those dues and reduce your financial burden.
Dream about starting your own venture but short on funds? You need not worry about it anymore. Instant personal loans from MoneyView can help you start your own business without worrying about the initial investment.
Do you need a loan for a home -makeover? You could finance your new-look home improvement project that oozes style with our easy and quick personal loans.
Leave your stress and worries behind. Head out for a much-needed holiday to an exotic location and fund it with a paperless personal loan from MoneyView.
Study as much as you want to without worrying about course fees, be it higher education or school fees.
Are you eyeing the latest gadget in the market? Why break your investment for that.? Use an instant personal loan to fund your purchase.
Big-ticket loans like home loans or vehicle loans require a downpayment of 10-25%. Instant personal loans from MoneyView can work to make up the shortfall or pay the entire amount of down payment.
The entire process of applying for your personal loan from MoneyView is pretty easy and user-friendly. However, we have put in place an easy way to track your application status , if you ever require to do so.
Once you have submitted an application, you can track your application status on our app or website following the steps as mentioned below.
A) If you’ve applied on our website
B) If you’ve applied on MoneyView app
We would like to see that as many people can avail of personal loans from us, however, it might be possible that your application is rejected. Some of the reasons for which your loan application is rejected could be:
To be eligible for our loans, we require a minimum in-hand income of Rs 13,500* for the salaried and Rs 25000 for the self-employed. However, there are some other conditions attached to the income. Make sure you meet all of them.
Your income is a direct reflection of your ability to repay the loan. So, if your income isn’t up to the mark with respect to your loan amount, your application will be rejected.
Your instant loan application can get rejected if you have too many lines of credit that are currently open and a major portion of your salary is spent on repaying other EMIs and there’s no room for more credit. This can include other loans like car loans, home loans, and credit cards. It can even include your monthly commitments like rental and living expenses among others.
Your 3-digit credit score, or more popularly known as CIBIL score, is a reflection of your creditworthiness and is based on your past and present credit behavior. We approve personal loans for a minimum CIBIL score of 650 or an Experian Score of 750. If your score isn’t good enough, you won’t get a loan or get a loan at unfavorable terms like a very high rate of interest or a shorter than applied for tenure.
Some of the main factors that affect your score include your repayment history, promptness in payments, usage of your credit limit, duration of open credit lines, and number of credit lines among others.
Very often you must have heard the adage, try till you succeed. However, when applying for a loan, the more you apply to different lenders for the same loan, the lesser are your chances of getting the approval. Also, each of your applications is considered as an inquiry by the credit bureau which will reduce your credit score.
When you fill out your loan application, it’s highly important that you are doubly sure that every piece of information being filled out is correct. Any kind of misinformation or mistake can lead to rejection more often than not. So, be sure of all the details that you provide that match the documents submitted by you.
Your employment status and type can have a major bearing on your income and your ability to repay your personal loan. In such a scenario, if your employment history is unstable – too many breaks or constant changes – lenders won’t trust you to have a consistent source of income, which in turn can affect your loan repayments. This can lead to your application getting rejected too.
Correct documents are very essential for loan approval as it forms the basis on which any loan if approved. This remains the same even when you apply for a loan from a private finance source like MoneyView. The documents we require are minimal, but we require the correct and current documents. For Ex: If you provide us details of an expired passport as proof of identity or an old bank statement as proof of income, your loan application will be rejected.