Ludhiana is the most populous and largest city in the state of Punjab. Ludhiana is well-known for its textile industry and is known as the Manchester of India. The city is home to many industries and manufacturing units.
The city is well-known for products like cycles, sewing machines, woolen clothes, automobile spare parts, etc. It has been ranked as one of the easiest cities in India for business according to the World Bank.
If you live in Ludhiana and require immediate financial assistance, you can easily obtain a personal loan from Moneyview.
Moneyview, one of the country's leading digital lending apps, offers versatile personal loans of up to Rs. 5 lakh with flexible repayment options of up to 60 months.
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Charges |
Amount |
|
Interest Rate |
Starting from 10% per annum |
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Loan Processing Charges |
Between 2% to 8% of the approved loan amount |
|
Loan Cancellation |
No additional charges levied Processing fees will also be retained. |
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Interest on Overdue EMIs |
2% per month on the overdue EMI/Principal loan amount |
|
Part/Full Payment of the Loan (Loan Foreclosure) |
Part payments are not allowed. Foreclosure is permitted after a minimum of three EMIs. |
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Cheque Bounce |
Rs.500 will be deducted each time |
To be eligible for an instant personal loan in Ludhiana from moneyview, you must meet the following criteria:
Applicants must be between the ages of 21 and 57.
Applicants must earn at least Rs. 13,500 per month.
Income must be deposited directly into the bank accounts of the applicants.
A CIBIL score of 600 or an Experian score of 650 is required.
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Income and Credit Score Eligibility Criteria |
|||
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Salaried Individuals |
Minimum In-Hand Income (in Rupees) |
Area of Residence |
CIBIL Credit Score Requirement |
|
13,500 |
Any |
CIBIL Score of 600 /Experian Score of 650 and above |
|
|
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 |
|
|
15,000 |
Metropolis other than Mumbai and NCR |
CIBIL Score of 600 /Experian Score of 650 and above |
|
|
Self-Employed Individuals |
15,000 |
Any |
CIBIL Score of 600 /Experian Score of 650 and above |
Our documentation requirements are minimal. We will only require the following -
Your PAN number
Your mobile number will have to be linked to your Aadhaar card for KYC verification
You will also have to enable the auto-debit facility from your bank account. This is a quick process where you can use a debit card, net banking, or NACH form.
The auto-debit facility will help you pay your EMIs automatically every month without the need for manual intervention.
Follow the steps below while applying for a Personal Loan in Ludhiana through Moneyview -
Check Your Eligibility
Visit the Moneyview website or download the app and provide the necessary information. We will let you know your eligibility in 2 minutes.
Select the Loan Plan
Choose the loan amount and repayment term based on the options offered.
Upload Necessary Documents
You can easily upload the necessary documents online.
Quick Loan Disbursement
After your documents are verified and loan agreement is submitted, the loan amount will be credited to your bank account within 24 hours
Emergencies and financial needs can occur at any time, and if your income is insufficient, a personal loan can be extremely beneficial. An instant loan is beneficial as it can be availed within 24 hours of loan approval. To apply, simply go to the moneyview website or download the app.
At this point in time, our lending partners only give loans to those individuals who get their salary via bank transfer – directly from their employer. We will not be able to offer loans to those individuals who get their salaries in cash.
As we follow a completely digital process, we will not be in a position to accept your documents by email. We have made our application process simple enough for everyone to follow. If you are still getting errors while uploading your documents, you can send a screenshot of the problem to loans@moneyview.in
To begin with, you’ll need to register yourself for the internet banking facility with your bank. Once you have a valid ID and a password, log in to your account and look for the option to download a pdf version of your account statement.
Our lending partners allow loan tenures anywhere between 6 months to 60 months. You can choose the tenure that is most suitable to your needs based on the options provided.
Yes, there will be a credit report inquiry made whenever you borrow from Moneyview. This will only be made after you submit the loan application.
NACH stands for National Automated Clearing House (NACH). It is a centralised system that’s similar to ECS. It was launched with the aim of merging multiple ECS systems running across the country and to introduce higher efficiency. It has replaced ECS for auto-debit transactions in India and has been operational since May 2016.
Line of Credit is a flexible form of personal financing that’s given to you based on your overall credit rating. It allows you to spend up to an approved credit limit and repay it later at your convenience.
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