Personal loans in Mumbai are now extremely easy to avail while being affordable thanks to Money View. Read on to find out how to apply for these loans.
Personal Loans in Mumbai
Affordable. Minimal documentation. Hassle-free application. Flexible repayment. All of this and more in one personal loan. Presenting Money View personal loans which come with a range of benefits that are beneficial to all our customers. Let us find out the eligibility criteria and how to apply for one.
Eligibility Criteria for Money View Personal Loans in Mumbai
Fulfill the eligibility criteria given below to avail Money View online personal loans in Mumbai -
- Applicants must have a minimum In-hand income of Rs. 15,000 per month
- Income must be directly credited to the applicants’ bank account
- A minimum CIBIL score of 600 or more or Experian score 650 or more
- Applicants must be between the ages of 21 years and 57 years
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 |
Documents Required for Money View Personal Loans in Mumbai
We believe in minimal documentation which is why we only need 3 documents from you -
| 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 |
Fees and Charges for a Personal Loan in Mumbai
We understand how important affordable loans are. Take a look at our advantageous fees and charges below -
| Fees & 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 |
|
Features and Benefits of Personal Loans in Kerala
Wide Range of Loan Amount
Money View offers personal loans of up to Rs 5 lakhs. So you can avail any amount that meets your requirements.
Low Pocket-Friendly Interest Rates
The interest rate on our personal loan is low enough to not burn your pocket. This ensures that you can avail a loan without worrying about large EMIs. The interest rate for Money View online loans in Kerala starts from 1.33% p.m.
Instant Loan Disbursal
You will be surprised to learn that our eligibility check takes only 2 minutes and our personal loan is disbursed to your bank account within 24 business hours after the approval.
100% Online Process
You can apply for a personal loan comfortably from home, from your workplace, or while travelling without wasting any time or effort. This is also a boon considering the current pandemic situation.
Available Even For Applicants with Low-Credit Scores
Banks and other traditional financial institutions look for a minimum credit score of 750 to provide a personal loan. But, Money View provides personal loans to anyone with a CIBIL score of 600 or Experian score of 650 and above. We have our own in-house credit model that helps us assess the creditworthiness of our customers.
How to Apply for a Money View Personal Loan in Mumbai
Check your eligibility
Visit the Money View website or download the app, provide all the necessary details, and we will let you know your eligibility in just 2 minutes
Choose your loan plan
Based on the options given, you will have to select the loan amount and repayment term of your choice
Provide documents
Easily upload all of the necessary documents online for verification
24 hour loan disbursal
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 the need for 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
Why Should you Opt for Money View Personal Loans in Mumbai
There are a number of lenders in the market but what sets Money View apart? Take a look below -
Flexible Loan Amount
Money View offers personal loans starting of 5,000 up to Rs. 5 lakhs
Flexible Repayment Tenure
Choose a flexible repayment term starting of 3 months up to 60 months
Low Interest Rates
We understand how important affordable personal loans are. Therefore, Money View interest rates start at 1.33% p.m.
24 Hour Loan Disbursal
Our personal loan is disbursed to your bank account within 24 business hours after the approval.
Hassle-free Online Process
You can apply for a personal loan from Money View at any time from anywhere. No more travelling to a bank and waiting for days
Instant Eligibility Check
Before applying for the loan, applicants can visit the Money View website or download the app to check their eligibility which will only take 2 minutes
Available Even For Applicants with Low-Credit Scores
Money View provides personal loans to anyone with a CIBIL score of 600 or Experian score of 650 and above. We have our own in-house credit model that helps us assess the creditworthiness of our customers
In Conclusion
Online personal loans in Mumbai are now easy to avail thanks to Money View. The hassle-free, user-friendly process is one of the reasons for Money View’s popularity. This loan is available across India and can be availed from the comfort of your homes. Visit the Money View website or download the app to apply today.
Personal Loan in Mumbai - Related FAQs
While most banks and lenders require applicants to have a CIBIL score of 750 and above, Money View uses a unique algorithm to understand a borrower’s creditworthiness. Therefore even those with relatively low credit scores can avail personal loans from Money View. However, a minimum CIBIL score of 600 and above or a minimum Experian score of 650 and above is necessary.
Once you have submitted an application, you can track your application status on our app or website by following the steps below -
- If you’ve applied on our website
- Go to the login section on the website by clicking here: /apply-loan/signup
- Login into your loan account with your registered email ID
- Go to the ‘Dashboard’ section of your loan account
- Scroll down to the ‘Application Status’ tab to know the status of your loan application
- If you’ve applied on the Money View app
Open the Money View app
- Register yourself with a valid email ID if you haven’t done it yet
- Head over to the ‘Loans’ section
- You will then be automatically redirected to the ‘Application Status’ screen where you can check your application details
- If you have the Money View Loans app, you’ll be directed to the ‘Application Status’ screen automatically as soon as you open it
Money View personal loans are extremely versatile. You can use them for the following purposes, for example -
- Emergency Expenses
- Debt Consolidation
- To Repay Credit Card Dues
- Business Ventures
- Home Remodeling
- Dream Vacations
- Fund Education
- Buy a Gadget
- Down Payment of other Loans
- Servicing or Modifying your vehicle
Yes, you can foreclose your Money View loan but only after paying a minimum of 6 EMIs -
| Fees & 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 |
No, you cannot part-prepay your personal loan amount.
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