If you are looking for a personal loan in Madurai then you have come to the right place. Continue reading to know more.
While there are many lenders available in the market today not all provide the benefits that Money View offers. Minimal documentation, hassle-free application process, and instant disbursement all make Money View the best choice for a personal loan.
Follow the steps given below to get an instant personal loan from Money View -
Check your eligibility
Visit the Money View website or download the app. Add the details required and find your eligibility!
Choose your loan plan
Select the loan amount and repayment term of your choice based on the options given
Provide necessary documents
Upload the required documents online. We only need three.
Avail loan instantly
After your documents are verified and loan agreement is submitted, the loan amount will be credited to your bank account within 24 hours
Note -
Once your documents are verified, you will receive a NACH form which needs to be printed, signed, scanned, and sent back to us
This step will enable the auto-debit facility from your bank account and allow you to pay your EMIs on time automatically without any manual intervention.
On receiving your NACH form, you will need to review the loan agreement on the app. Please submit the application after reviewing all the terms and conditions thoroughly
In order to avail an instant personal loan from Money View, you will have to fulfill our eligibility criteria given below -
Applicants must be between 21 years and 57 years
Applicants must receive an income of Rs. 13,500 or more*
Income must be credited directly to the applicants’ bank account
Credit score must be a minimum CIBIL score of 600 or minimum Experian score of 650
Given below is a city-wise breakdown of the income and credit score requirement -
|
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 |
In order to get a personal loan in Madurai from Money View, you need only 3 key documents, as listed below -
|
Identity Proof |
Address Proof |
Income Proof |
|
PAN Card - This is the primary ID proof required. However, if it is rejected due to image quality issues or other reasons, any 1 of the officially valid documents given below will suffice
|
Any 1 of the following -
|
Salaried Applicants - Last 3 months’ bank statements of your salary account in PDF format showing salary credits OR Self-Employed Applicants - Last 3 months’ bank statements in PDF format if you are self-employed |
Money View’s personal loans come with competitive interest rates and have no hidden charges whatsoever. Our fees and charges are as follows -
|
Fees and Charges |
Amount Chargeable |
|
Interest Rate |
Starting from 1.33% per month |
|
Loan Processing Charges |
Between 2% to 8% of the approved loan amount |
|
Interest on Overdue EMIs |
2% per month on the overdue EMI/Principal loan amount |
|
Cheque Bounce |
Rs.500/- each time |
|
Loan Cancellation |
|
Availing a personal loan in Madurai does not have to be complicated. With Money View you can avail a versatile personal loan that can be used for multiple purposes very easily.
Not only are the documentation requirements minimal, the application process is quick and hassle-free. Log on the Money View website or download the app and apply now!
Given below are the factors that impact Money View’s interest rates -
Credit Score
The higher the credit score, the lower is the risk of defaulting for the lender therefore interest rates are on the lower side.
Repayment History
Having a flawless repayment history will help you get personal loans at low-interest rates as this shows the lender that you are capable of repaying your debts on time
Employment Type
Having a steady secured job will reduce the risk of defaulting on loans as salary is credited regularly and therefore those with secure jobs can generally avail of personal loans at lower rates of interest
Income
Having a good income every month is essential but if you have taken multiple loans that need to be paid from that income, then the risk of default is high, therefore the interest rate charged in this case will be on the higher side
Some of the reasons for which you can avail a personal loan from Money View are -
To buy household gadgets like fridge, washing machine, etc
To pay down-payment for another loan
To clear credit card dues
For house renovation expenses
Pay fee for college/school education
To pay for a vacation
To pay for the repair/breakdown of your vehicle
To meet wedding expenses
To meet expenses towards relocation
At Money View, we use an in-house credit rating model to assess our applicant’s credit worthiness. As long as your CIBIL score is over 600, you can avail personal loans from us.
Yes, you can foreclose your personal loan after a certain number of EMIs have been paid, as illustrated below -
Fees and Charges | Amount Chargeable | ||||||||
Foreclosure Charges | Nil but foreclosure can be done only after a minimum number of EMIs have been paid as illustrated below-
| ||||||||
Part- Prepayment Charges | Part-prepayment is not allowed |
