Looking for the best personal loan in the market? Money View personal loans come with a whole host of benefits. All you need to do is fulfill our eligibility criteria.
Personal loan eligibility is calculated based on the borrower’s credit score, income, and age among other factors.
In order to get an instant personal loan from Money View, the following eligibility criteria will have to be fulfilled -
You must be Salaried or Self Employed (own business)
Your monthly in-hand income should be Rs 13,500/- or more. To know more, click here.
Your salary must be directly credited to your bank account
You must either have a minimum CIBIL score of 600 or a minimum Experian score of 650. Low Credit Score? You may still get a loan based on our own credit-assessment model.
Applicants must be between the ages of 21 years to 57 years
The income and credit score requirements will vary based on the applicant’s city of residence as illustrated in the table given below -
| 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 are some of the factors that impacts your personal loan eligibility -
Your credit score is a numerical measure of your credit worthiness. If you have a high credit score (>700) then you are considered to be less risky in terms of defaulting on your repayments and can therefore avail a higher amount of loan at lower interest rates.
Lower the risk associated with repayment, lower is the interest rate imposed. This is why salaried applicants generally get loans at lower interest rates as this type of employment poses less risk compared to self-employment.
Higher the income, higher is the repayment ability as long as there aren’t multiple loans active at the same time, i.e., as long as your debt-to-income ratio is low. At Money View, we require applicants to have a minimum monthly in-hand income of Rs. 13,500 for those who are salaried and Rs. 15,000 or more for those who are self-employed.
Another factor that determines eligibility is your age. Usually those currently in the earning bracket can avail loans easily while those closer to retirement will not be able to and even if they do, it will be at higher interest rates. At Money View, you must be between 21 to 57 years old in order to avail personal loans.
Those in Tier - I cities usually have a higher income and credit score requirement as compared to those living in Tier -II and Tier -III cities as the income as well as expenses may be higher making the repayment a little more riskier.
If you are a salaried employee and wish to avail a personal loan, you will need to fulfill the following eligibility criteria -
Have a monthly income of Rs. 13,500 or more
Your income must be credited directly to your bank account
If these criteria are fulfilled, here is a tip for you to check your eligibility and ensure easy loan repayments.
In addition to your income, the amount you avail as a loan, interest imposed, and the repayment term can help you plan your repayment schedule.
The Money View Personal Loan EMI Calculator can help you find out exactly how much you owe and knowing this will help you plan out your expenses if you are eligible for the loan amount of your choice.
If you are a salaried employee and wish to avail a personal loan, you will need to fulfill the following eligibility criteria -
Have a monthly income of Rs. 15,000 or more
Your income must be credited directly to your bank account
If these criteria are fulfilled, here is a tip for you to get the best out of your personal loan.
If you know the loan amount that you wish to get, the repayment term, and interest rate, you can easily find out your EMI using the Money View Personal Loan Calculator. Doing so can help you plan out your budget as well as ensure that you are able to repay the loan on time.
Your personal loan eligibility is calculated based on various factors such as your income, credit score, age, etc. When all the conditions are optimally satisfied, you will be able to avail a loan easily and at competitive interest rates. What’s more?
At Money View, we use a unique credit rating model which means that even if your credit score is on the lower side, you can get a personal loan easily.
To get an instant loan within 24 hours, visit the Money View website and download the app and apply today!
Ans: In order to be eligible to get a personal loan from Money View, you must meet the following criteria -
You must be salaried or self-employed
Your monthly in-hand income must be Rs. 13,500 and above for salaried applicants and Rs. 15,000 and above for self-employed applicants
Your income must be credited directly to your bank account
You must either have a minimum CIBIL score of 600 or a minimum Experian score of 650
You must be between the ages of 21 years and 57 years
If you fulfill the above personal loan eligibility criteria, you can apply for a loan from Money View and finish our eligibility check which only takes two minutes. Based on this, we will create a custom loan offer tailored to meet your needs and requirements.
Ans: Yes, you can. You can get an instant personal loan as long as your salary is Rs. 13,500 per month if you are salaried and Rs. 15,000 per month if you are self-employed. However, to be eligible, your salary must be credited to a bank account directly.
Ans: Money View personal loan eligibility check takes just 2 minutes to complete. You can check your personal loan eligibility by either visiting the Money View website or by downloading our app.
Ans: Yes, you can. At Money View, we believe that access to financial services is a basic right for all. If you are a salaried employee and you earn Rs. 13,500 per month or if you are self-employed and you earn Rs. 15,000 per month, you can still apply for a personal loan from Money View.
Ans: The maximum amount you can borrow from Money View is Rs. 5 lakhs. However, we provide a custom offer for each applicant based on their eligibility criteria therefore this amount may vary.
Ans: In order to get a personal loan from Money View, you need to fulfill the following criteria -
If you are a salaried employee, you will need to earn a minimum of Rs. 13,500 per month
If you are self-employed, you will need to earn a minimum of Rs. 15,000 per month
Your salary must be credited to your bank account directly.
Ans: Your salary is one of the most important eligibility criteria that lenders consider while disbursing loans. At Money View, you need to have the following minimum salary to be eligible for our personal loan -
If you are a salaried employee, you will need to have a minimum monthly income of Rs. 13,500
If you are self-employed, you will need to earn a minimum monthly income of Rs. 15,000
Your salary must be credited to your bank account directly.
Ans: No, you do not have to. The entire loan application process is completely free of cost. All you have to do is fulfill the following eligibility criteria before applying for our personal loan -
You must be Salaried or Self Employed (own business)
Your monthly in-hand income should be Rs 13,500/- or more. To know more, click here.
Your salary must be directly credited to your bank account
You must either have a minimum CIBIL score of 600 or a minimum Experian score of 650. Low Credit Score? You may still get a loan based on our own credit-assessment model.
Applicants must be between the ages of 21 years to 57 years
If you do fulfill the above criteria, then visit the Money View website and download the app and apply. We will take care of the rest!
Ans: Your income is one of the most important factors that determine your personal loan eligibility. Higher the income, greater is your ability to repay the loan. However, if you have multiple loans running at the same time then your repayment ability will be affected.
This is why before you get a loan, it is important to ensure that you are in a comfortable position to repay.
At Money View, we require applicants to have a minimum monthly income of Rs. 13,500 that is credited directly to their bank account.
Ans: When you apply for a loan, your lender will consider your existing debts. If you have a high debt-to-income ratio, i.e. you are repaying multiple loans through your existing income, then your perceived creditworthiness will be low. It indicates that you may not be able to repay a new loan easily if you are already repaying multiple loans and this will impact your eligibility criteria and your ability to avail loans easily.
Therefore, always try to keep your debt-to-income ratio low.
Ans: At Money View, we use a unique credit rating model that considers criteria including but not limited to your credit score. Therefore, even if your credit score is on the lower side, you can still get a personal loan from Money View.
The minimum credit score requirement is a CIBIL score of 600 and above or an Experian score of 650 and above.
Ans: You need to be between 21 years to 57 years in order to get a personal loan from Money View.
Ans: Since we use our own credit rating model at Money View, you need to have a minimum CIBIL score of 600 or a minimum Experian score of 650 to get a personal loan from us.
