MoneyView is a digital lending platform that provides personal loans and credit products. Its main focus is to provide easy loans to people, especially to those who face problems in taking loans through traditional banks and financial institutions. To take a loan from MoneyView, you have to follow some important steps. Here I am giving you complete information:
1. Eligibility Criteria
- Age: Your age should be between 21 to 57 years.
- Income: You should have a stable income source, whether you are salaried or self-employed.
- Credit Score: Your credit score (CIBIL Score) should be good. But, MoneyView can approve a loan even with a low credit score in some cases.
- Bank Account: You must have a valid bank account where the loan can be disbursed.
2. Loan Amount
- MoneyView can provide you a loan ranging from ₹10,000 to ₹5 lakh.
- The loan amount depends on your eligibility, income, and credit score.
3. Loan Tenure
- Loan tenure can be from 3 months to 5 years, depending on the loan amount and repayment ability.
4. Interest Rates
- Interest rates typically range between 1.33% to 2.5% per month. This depends on your profile.
- You have to pay interest in the form of monthly EMI.
5. Documents Required
- Identity Proof: Aadhar Card, Pan Card, Voter ID, etc.
- Address Proof: Utility bills, Passport, Aadhar, etc.
- Income Proof: Salary slips (for salaried individuals), ITR (for self-employed individuals), bank statements, etc.
- Bank Details: You have to submit your bank account details where the loan will be disbursed.
6. Loan Application Process
- Download App: First of all, you have to download MoneyView app on your phone. (Android / iOs)
- Sign Up: Sign up on the app and fill in your details, like name, contact number, income, etc.
- Eligibility Check: After verifying your data, MoneyView will calculate your loan eligibility.
- Loan Application: If you are eligible, you can choose your loan amount and tenure. You also have to upload the required documents.
- Approval: If your loan is approved, MoneyView will give you an approval notification.
- Loan Disbursement: After approval, the loan amount will be credited to your given bank account.
7. EMI Payment
- You can pay your monthly EMI through MoneyView app.
- You get reminders when EMI is due, so that you can make timely payment.
8. Repayment Options
- For loan repayment, you have to pay monthly fixed EMIs.
- If you fail to pay your EMI, you have to bear late fees and penalty charges.
9. Advantages
- Fast Processing: Loan approval and disbursement is very fast. You can get loan within few hours.
- Minimal Documentation: Compared to traditional loan institutions, document submission is simple and quick here.
- Flexible Loan Terms: You can customize the loan amount and tenure as per your convenience.
- Instant Loan Approval: You get quick loan approval if your details are verified.
10. Disadvantages
- High Interest Rates: MoneyView’s interest rates can be a bit high, especially if your credit score is not good.
- Eligibility: If your credit score is low, loan approval can be tough.
MoneyView’s loan process is simple and digital, so you can apply for a loan from your home.
Note
While applying for a loan, your name and date of birth on your Aadhar card and PAN card should be correct and your name in the bank account should also be the same. There should not be even a slight spelling mistake. Otherwise, there can be a problem in loan approval.
Download MoneyView App
Android User Click Here
iOs User Click Here