Personal Loan MoneyView: Hey there! Are you in need of some quick cash? Maybe you’ve got a medical emergency, want to fund your dream vacation, or need to renovate your home? Whatever your reason, a personal loan can be a lifesaver when you need funds fast.
And if you’re considering MoneyView as your lender, you’ve come to the right place! In this article, I’ll walk you through everything you need to know about getting a personal loan from MoneyView – from eligibility to application and beyond.
What is MoneyView and Why Consider Their Personal Loans?
MoneyView is a digital lending platform that offers unsecured personal loans ranging from ₹5,000 to ₹10,00,000. What makes them stand out is their quick loan processing and completely digital application process. Applying for a personal loan MoneyView is a straightforward process that can be completed entirely online, without the need to visit any physical branch.
The platform has gained popularity because of its user-friendly interface and quick disbursement, often within 24 hours of approval. Whether you need money for a wedding, medical emergency, home renovation, or education, money view loans are designed to cater to various financial needs with flexible repayment options.
One of the best things about MoneyView is that they offer loan tenures ranging from 3 months to 60 months (5 years), giving you the flexibility to choose a repayment plan that suits your financial situation. Plus, their digital-first approach means less paperwork and faster processing compared to traditional banks.
Eligibility Criteria for MoneyView Loan Application
Before you get excited about applying, let’s check if you meet the basic requirements. To qualify for a MoneyView loan, you need to meet certain eligibility criteria, including age, income, and credit score requirements.
Here’s what you need to qualify:
- Age Requirement: You must be between 21 and 57 years old. This is pretty standard across most lenders in India.
- Income Criteria:
- If you’re salaried, you need a minimum monthly income of ₹13,500
- If you’re self-employed, you need a minimum monthly income of ₹15,000
- Credit Score: You’ll need a minimum CIBIL score of 650. This is important because it shows your creditworthiness to the lender.
The Moneyview personal loan eligibility criteria are designed to ensure that borrowers can repay the loan. If you’re not sure about your eligibility, don’t worry! Before applying, you can perform a MoneyView loan eligibility check that takes just 2 minutes to complete. This soft check won’t affect your credit score but will give you a good idea of whether you qualify.
It’s worth noting that the higher your salary, the higher the loan amount you might be eligible for. For instance, if your monthly salary is ₹20,000, you could potentially get a loan of up to ₹5.40 lakhs. With a salary of ₹50,000, this could go up to ₹13.50 lakhs!
Complete List of MoneyView Loan Documents Required for Application
Now that you know if you’re eligible, let’s talk about the paperwork. Don’t worry – it’s not as bad as traditional banks! Here are the MoneyView loan documents required for your application:
Primary Documents:
- PAN Card (mandatory for all applicants)
- Identity Proof (any one of the following):
- Aadhaar Card
- Valid Indian Passport
- Valid Voter ID
- Valid Driver’s License
Income Verification Documents:
- For Salaried Individuals: Last 3 months’ bank statements or salary slips
- For Self-employed Individuals: Last 3 months’ bank statements or 2 years’ Income Tax Returns (ITR)
Having all these documents ready before you start the application can save you a lot of time. Make sure they’re clear, legible, and up-to-date. The good news is that MoneyView allows you to upload these documents digitally through their app or website, making the process much more convenient.
Understanding MoneyView Personal Loan Interest Rate and Charges
Let’s talk money – specifically, how much this loan is going to cost you. The Moneyview personal loan interest rate starts from 1.16% per month, which is competitive compared to many other digital lenders. This translates to approximately 14% per annum, though the exact rate offered to you will depend on factors like your credit score, income, and loan amount.
Besides the interest rate, there are a few other charges you should be aware of:
- Processing Fee: Starting from 2% of the approved loan amount
- Penal Charges: 24% per annum on overdue EMIs (so try not to miss those payments!)
To understand how this translates to actual numbers, let’s look at an example. If you take a loan of ₹10,00,000 at 16% interest rate for 60 months (5 years), your:
- Monthly EMI would be approximately ₹21,494
- Total interest payable would be around ₹47,182
- Total repayment amount would be ₹10,47,182
The MoneyView personal loan EMI calculator helps you estimate your monthly payments based on the loan amount, interest rate, and tenure. It’s a handy tool available on their website and app that can help you plan your finances better. Play around with different loan amounts and tenures to find a combination that gives you an EMI you’re comfortable with.
Applying Through the Personal Loan Money View App: Step-by-Step Guide
Now for the exciting part – actually applying for the loan! The personal loan money view app makes it convenient to apply, track, and manage your loan from your smartphone. Here’s a step-by-step guide to the application process:
Step 1: Initial Registration
- Download the MoneyView app from the Google Play Store or visit their website
- Provide basic details like your name, income, and age
- Submit your PAN number and mobile number
- The app will perform a quick eligibility check (usually within 2 minutes)
Step 2: Loan Selection and KYC
- If you’re eligible, you’ll be shown the loan amount you qualify for
- Choose your preferred loan amount and tenure
- Complete the digital KYC process
- Upload the required documents we discussed earlier
Step 3: Final Steps
- Enable EMI auto-debit from your bank account
- Review and accept the loan agreement
- Once approved, the loan amount will be disbursed to your bank account
The MoneyView loan approval time is typically very quick, with many applications being processed within minutes. After approval, moneyview personal loan disbursement usually happens within 24 hours directly to your bank account. That’s pretty fast compared to traditional banks that might take several days or even weeks!
Tips to Improve Your Chances of Approval
Want to maximize your chances of getting approved? Here are some practical tips:
- Check and improve your credit score before applying. A score above 750 is considered excellent and can help you get better interest rates.
- Ensure all your documents are in order and legible. Preparing all the moneyview loan documents required beforehand can speed up your application process significantly.
- Be honest about your income and existing loans. Misrepresentation can lead to rejection.
- Apply for a loan amount that’s reasonable based on your income. Asking for too much might reduce your chances of approval.
- Have a stable employment history. Frequent job changes might make lenders wary.
- Clear existing debts if possible before applying for a new loan.
- Use the eligibility checker before formally applying to avoid unnecessary hard inquiries on your credit report.
What MoneyView Personal Loan Reviews Tell Us About the Service
Reading MoneyView personal loan reviews can give you insights into other borrowers’ experiences with the service. Based on customer feedback, here are some pros and cons to consider:
Positives:
- Quick processing and disbursement
- Minimal documentation compared to traditional banks
- Real-time application tracking
- Competitive interest rates
- User-friendly app interface
Areas of Concern:
- Some users have reported customer service issues
- There have been reports of challenges with early EMI payments
- Customer service responsiveness has been a concern for some users
It’s worth noting that MoneyView has a TrustScore of 2.1/5, with 82% of reviews rated 1-star. However, this is not uncommon for financial services, as customers are more likely to leave reviews when they have negative experiences rather than positive ones.
Types of Money View Loans Available for Different Needs
While we’ve been focusing on personal loans, it’s worth mentioning that money view loans come in different forms to suit various needs:
- Short-term Personal Loans: For immediate needs with tenures as short as 3 months
- Long-term Personal Loans: For larger expenses with tenures up to 5 years
- Instant Cash Loans: For emergency requirements with quick disbursement
Each type has its own set of features and benefits, so choose the one that best suits your specific needs.
How to Contact Money View Customer Care Number for Support
If you face any issues during the application process, you can contact the Money View customer care number for immediate assistance. Their customer support team can help with:
- Application status inquiries
- Documentation requirements
- Repayment issues
- General queries about their loan products
Having their contact information handy can be useful if you encounter any hurdles during the application process or after loan disbursement.
Final Thoughts: Is a MoneyView Personal Loan Right for You?
So, should you go ahead with a MoneyView personal loan? Well, it depends on your specific needs and circumstances. If you’re looking for a quick, paperless loan process with flexible repayment options, MoneyView could be a good choice. Their digital-first approach makes the application process convenient, and their quick disbursement can be a lifesaver in emergencies.
However, like any financial decision, it’s important to:
- Compare interest rates and terms with other lenders
- Read the loan agreement carefully before accepting
- Ensure you can comfortably manage the EMIs
- Have a clear repayment plan
Remember, a personal loan is a financial commitment that will impact your budget for the duration of the loan tenure. Make sure you’re borrowing for the right reasons and have a solid plan to repay it.
I hope this guide has given you a clear understanding of how to get a personal loan from MoneyView. If you decide to proceed, good luck with your application! And remember, borrow responsibly and only what you need.
Also Read: How to Get a Business Loan from HDFC Bank?