The yesteryear kings of the South such as the Pandyans, Nayaks, and Cholas left a great legacy behind. Madurai is one such city. Also known as the temple city, Madurai is famous for its temples which are architectural marvels.

This historically and culturally significant city is a must-visit. And moneyview can help sort out your vacation plans.

You don’t have to put any collateral or wait days for approval. moneyview loans are instant, hassle-free, and involve minimal paperwork. Read on to understand how to apply for a loan.

Moneyview - The Best Option for Personal Loan in Madurai

While there are many lenders available in the market today not all provide the benefits that moneyview offers. Minimal documentation, a hassle-free application process, and instant disbursement all make moneyview the best choice for a personal loan.

Eligibility Criteria for a Personal Loan in Madurai

In order to avail an instant personal loan from Money View, you will have to fulfill our eligibility criteria given below -

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

  • Aadhaar Card

  • Valid Indian Passport

  • Valid Voter ID

  • Valid Driver’s License

Any 1 of the following - 

  • Aadhaar Card

  • Valid Indian Passport

  • Valid Voter ID

  • Valid Driver’s License

  • Utility Bills (Electricity, Water, Gas) dated within the last 60 days

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

  • No additional charges levied

  • The interest amount for the period between loan disbursement and loan cancellation will be payable.

  • Processing fees will also be retained.

How to Get a Moneyview Personal Loan in Madurai

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Check Eligibility

Visit the moneyview website or download the app. Add the details required and find your eligibility!

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Select Loan Tenure

Select the loan amount and repayment term of your choice based on the options given

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Upload Documents

Upload the required documents online. We only need three

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Amount Disbursed

After your documents are verified and loan agreement is submitted, the loan amount will be credited to your bank account within 24 hours

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Conclusion

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!

Personal Loan in Madurai - Related FAQs

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-

Tenure

Foreclosure

Up to 6 months

Not allowed

7 - 18 months

Allowed after 6 EMI payments

Over 18 months

Allowed after 12 EMI payments

 

Part- Prepayment Charges

Part-prepayment is not allowed

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