Are you looking to pay off that unexpected credit card bill or purchase a brand new home appliance? Do you wish to treat yourself to a new phone or a vacation but are unable to find the finances for it? Regardless of the situation, the answer is the same – Personal Loans! A type of credit that allows individuals to finance a plethora of options, a personal loan is not restricted by purpose. Additionally, as these loans do not require collateral they are easier to avail. Personal loans need to be repaid within a set repayment term which is decided by the lender based on a number of factors. Additionally, along with the principal amount that is repaid, there is an interest charged as well. Personal loans can be availed from a number of financial institutions such as banks, private financiers, or Non-Banking Financial Companies (NBFCs).
Personal loans are disbursed based on criteria such as income, credit score, repayment capacity, etc. Due to the fact that these are unsecured loans i.e. do not require collateral, the interest rate on personal loans is on the higher side. These loans are quite easily available throughout the country and through MoneyView, you can easily avail a personal loan in Kochi.
MoneyView is one of the most sought after and trusted providers of loans in Kochi. Take a look at some of the features and benefits of personal loans from MoneyView:
Maintaining a high credit score is of the utmost importance as doing so will ensure that one can avail of a loan at lower rates of interest and a lot more easily as well. However, this is not an easy process and sometimes slip-ups do occur. This does not mean that individuals cannot avail of personal loans at all. While building one’s credit score is highly recommended, personal loans can still be availed with a lower credit score as well. MoneyView uses its own credit model that has been designed by experts and makes use of a unique algorithm and therefore creditworthiness of an individual is decided differently. However, individuals must have a minimum CIBIL score of 650 or a minimum Experian Score of 750 which is much lower than what most banks charge.
Interest rates and all other charges have been decided to keep in mind the comfort and financial growth of customers. Additionally, there are no hidden charges as well. Take a look at the fees and charges that have been put forth by MoneyView.
| Fees & Charges | Amount |
|---|---|
| Interest Rate | Starts at 1.33% per month |
| Loan Processing Charges | Starts at 2% and up to 8% of the approved loan amount |
| Loan Foreclosure |
|
| Interest on Overdue EMIs | 2% per month on the overdue EMI/Principal loan amount |
| Interest on EMIs that are overdue | 2% per month on the EMI loan amount that is overdue |
| Cheque Bounce | Rs 500 for every cheque bounce |
| Loan Cancellation |
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The biggest advantage of personal loans is the fact that it can be used for a variety of needs, especially emergencies. Keeping this in mind, the eligibility criteria for MoneyView personal loans are uncomplicated. The table below provides the income and credit score eligibility criteria.
| Minimum Income (In-hand) | Minimum Credit Score Needed | |
|---|---|---|
| Salaried Individuals | Rs.13, 500 |
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Additionally, applicants must be between the ages of 21 and 75 years and their income must be credited to their bank account.
MoneyView does not believe in extensive and complicated documentation processes. The documents required are as follows:
MoneyView is known for having one of the quickest and easiest application processes in the market today and consists of just 4 steps.
Tracking one’s application on MoneyView is very simple. The steps given below will have to be followed for the same. If customers have applied through the MoneyView website:
If customers have applied through the MoneyView app:
While there are multiple providers of personal loans in Kochi, MoneyView stands out because they provide loans easily without unnecessary hassles, hidden charges, and stress. Some of the benefits include:
