matter whether it is for purchasing a big ticket, covering medical expenses, or for organizing a wedding; a personal loan comes to your aid in managing the requirements in case of emergency. However, when it comes to availing of a personal loan, consider applying one from Money view since they are highly secured, reliable, and rated as number one loans across the nation.
Now let us discuss some of the salient features and advantages of Money view personal loan.
Loan Eligibility For Personal Loan:
It would take only 2 minutes to check your loan eligibility status. But, you are supposed to furnish relevant documents thereby overcoming the hurdles of executing difficult computations and you can also use Zakat Calculator for determining the loan amount based on your monthly income.
Loan Amount:
It is up to you to decide how much loan amount you require. Money view grants personal loan between Rs.10,000 and Rs. 5,00,000.
Variable Repayment For Personal Loan :
The money view enables the applicants to decide their repayment tenure. The repayment tenure of Money view personal loans starting from 6 months to 60 months.
Quick and Hassle-free Disbursal:
Once the loan application process is complete, the desired loan amount will be credited to your bank account in 24 hours. This helps save a considerable amount of time rather than carrying out outgoing calls and sending emails to monitor the disbursement status.
A Minimum Rate of Interest:
Money view offers a budget-friendly rate of interest staring @ 1.33% per month by taking into consideration the financial constraints of an individual.
Digital Process:
The entire documentation and repayment process is executed in a digital format. There is no need to visit the office and submit supporting documents.
Internal Credit Scoring:
Money view follows an advanced internal credit scoring technique that rates the creditworthiness of an applicant based on data points secured by them. This would help them obtain a personal loan on a minimum credit score. But an individual should secure a CIBIL score of 650 or above.
Some of the Benefits of Money View Personal Loan are Discussed Below:
Instant Approval:
Unlike home loan processing, approval of Money view personal loan is quick as it would consume only minimum time. Therefore, it is an ideal option to meet your urgent requirements. Another major highlight regarding the above-mentioned loan is that lenders would grant a personal loan if you have obtained a Min Cibil score of 650 or Experian score of 750.
Absence of Collateral Security:
As personal loans are unsecured, there is no need to attach assets as collateral security to procure a personal loan from the Money view. But you need to keep in mind that lenders might charge a hefty rate of interest since it is vulnerable to potential risks. The purpose behind charging a higher rate of interest is to safeguard the money once a loan is granted to you. The rate of interest starting at 16% per annum.
Flexibility in Terms of Usage:
It does not matter whether you are planning to purchase a smartphone, a world tour, or a home renovation, a personal loan would assist you in converting your dreams into reality. The concerned lender will not question for what purpose you are applying for a loan. Therefore, this flexibility would make sure that it is a better financing option for the borrowers for varied purposes.
Read More: 5 Golden Tips to Increase Your Personal Loan Eligibility
The Best option for Credit Card Repayments:
An individual possessing multiple credit cards will be well aware of the hefty interest rate charged by the banks. In such cases, the rate of interest would range between 24% and 30% per annum. As a result, it is better to opt for a personal loan thereby enabling you to deal with multiple loans at a time.
Numerous Platforms to Obtain Personal Loans:
Unlike conventional banking systems, there are plenty of online portals such as Money view that offer personal loans at an attractive rate of interest.
Rate of interest and additional charges
| Fees and charges | Amount to be paid |
| Rate of interest | Starting from 1.33% per month |
| Loan processing charges | 2% – 8% of the desired loan amount |
| Part/Full payment of the loan | Part payments are not allowed. Availability of full pre-payment after completing three months of EMI’s. |
| Interest on overdue EMI’s | 2% per month on the overdue. EMI/Principal loan amount. |
| Cheque bounce | Rs.500 fined for each bounce |
| Cancellation of loan | Retaining processing fees. Additional charges are not levied in addition to the interest amount for the period between disbursement of loan and cancellation of the loan. |
Eligibility Criteria While Applying for a Personal Loan from Money View
| Monthly Income | Place of Residence | CIBIL score | |
| Salaried professionals | Rs. 20,000 | Any | 1-299 |
| Rs. 20,000 | Mumbai/Thane or NCR region (Delhi, Faridabad, Ghaziabad) | 650 or above | |
| Rs.15,000 | Metro cities apart from Mumbai and NCR | 675 and above | |
| Rs.13,500 | Any | 650/ Experian score of 750 and above | |
| Self employed individuals | Rs.25,000 | Any | CIBIL score of 650/Experian score of 750 and above |
- Applicants should be aged between 21 years and 57 years.
- Monthly income should be credited to the bank account.
Things to be taken into consideration while opting for a personal loan
- Make sure that the repayment is flexible.
- Pay close attention to tenure, rate of interest along with terms and conditions
- You should compare the interest rate between prominent financing companies and Infinite Banking websites.
Conclusion:
So the above-mentioned would prove beneficial for you while applying for an instant loan from money view. It implies instant cash to meet your requirements.
