Top Features and Benefits of Personal Loan

Flexible Loan Amount

Choose any loan amount starting Rs. 5,000 upto Rs. 5 lakhs.

24 Hour Disbursal

Your loan will be credited within a day after your loan application has been approved

Collateral Free Loans

You don’t have to arrange for any guarantor or pledge any asset while applying for personal loans from Money View

Affordable Interest Rates

Avail loans at affordable rates starting at just 1.33% per month

Hassle Free Process

The entire process from application to disbursal is quick and hassle-free

Flexible Repayment Term

Borrowers can enjoy flexible repayment tenures of up to 60 months

Loans on Low Credit Score

Getting a loan with a minimum CIBIL score of 600 or Experian score of 650 is a must.

Quick Eligibility Check

Your eligibility check from Money View website or download the app takes only 2 minutes saving energy and time.

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.

How is Personal Loan Eligibility Calculated?

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. 

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

Do you fulfill the above criteria? Check your custom loan offer in 2 minutes by clicking here!

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 -

  • Credit Score

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.

  • Type of Employment

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.

  • Income Level

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.

  • Age

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.

  • Area of Residence

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.

How to Apply for An Instant Personal Loan

Check Eligibility

Find out the maximum loan amount you’re eligible for online in 2 minutes

Select Loan Tenure

Choose a custom loan amount and the repayment period that suits your financial needs

Upload Documents

Provide your personal details and upload the necessary documents, all on the app or website

Amount Disbursed

Get the loan amount disbursed to your account in 2 hours of approval

Conclusion

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!

Personal Loan Eligibility - Related FAQs

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.

INTERLINKS