|Money View Personal Loan Highlights|
|Interest Rate||1.33% per month onwards|
|Loan Amount||Up to Rs. 5 lakh|
|Loan Tenure||Up to 60 months|
|Processing Fee||Starts from 2% of the approved loan amount|
|Eligibility Age||21 – 57 years|
Money View is an online lender that offers personal loans up to Rs. 5 lakh to salaried as well as self-employed individuals through a completely digital and paperless process. Money View personal loans are offered with multiple repayment tenure options of 12, 24, 36, 48 and 60 months with interest rates starting as low as 1.33% per month. Read on to get detailed information of various key aspects of these unsecured personal loans including the eligibility criteria, documentation required, application process, fees/charges applicable as well as more.
Features of Money View Personal Loan
- Loan amount: You can avail a Money View Personal Loan ranging between Rs. 5,000 to Rs. 5 lakh anywhere in India. Unlike with banks, your physical location does not restrict your ability to avail a personal loan from Money View.
- Quick eligibility check: The eligibility check is very quick. You simply have to enter a few details on the official website or on the Money View app to know your loan eligibility within minutes.
- Paperless process: From loan application to the repayment of the loan, the entire process is carried out online from the comfort of your home or office.
- Flexible repayment tenure: You can repay your Money View personal loan within a suitable repayment tenure starting from 12 months and going up to 60 months.
- No or low CIBIL Score / Credit Score Individuals Eligible: Money View uses its own proprietary credit score model to determine eligibility of applicants. Thus applicants who have no/low CIBIL Score or credit score can also secure a personal loan from Money View.
Money View Personal Loan Interest Rates
Money View Personal Loan interest rate starts at 1.33% per month which equals approx. 16% per annum. However, the personal loan interest rates applicable to specific applicants will be based on the assessment of his/her spending patterns by Money View proprietary scoring algorithm. Typically monthly income, loan amount, tenure and the overall financial profile of the applicant determines the interest rate applicable to any specific applicant.
The eligibility criteria for availing a Money View personal loan is simple and as follows:
|Particulars of Applicant||Eligibility Criteria|
|Applicant Type||Salaried or Self-employed|
|Minimum Monthly Income||Salaried: Rs. 13,500*|
Self-employed: Rs. 25,000
|Minimum Age||21 Years|
|Maximum Age||57 Years|
|Income Criteria||Only direct bank credit is considered. Cash income is not considered when determining loan eligibility|
* May vary based on the applicant’s place of residence and Credit Score.
Documents Required for Loan Application
Money View requires minimum documentation to give you a hassle-free loan experience. The following documents are required to avail a personal loan from Money View:
|Identity Proof||Aadhaar Card /PAN Card|
|Current Address Proof||Passport, Ration Card, Election Card, Driving License, etc. ( Any one)|
If the address mentioned in the Aadhaar card is your current address, the above documents are not required.
|Income Proof ( For Salaried)||Bank statement of last three months showing salary credits and Salary Slips|
|Income Proof (For Businessmen or self-employed)||Last two years’ Income Tax Return Verification Form|
How to Apply for Money View Personal Loan with Paisabazaar?
To apply for Money View Personal Loan through Paisabazaar simply follow the steps given below:
- Visit Paisabazaar.com and fill out the online personal loan application form to receive offers.
- You will get offers from several lenders sorted as per the chances of approval using the Smart Match algorithm.
- Select a prospective lender such as Money View from the list or get in touch with Paisabazaar for assistance.
- Complete and submit your loan application online.
Personal Loan Verification Process
After you have submitted your personal loan application online on Paisabazaar, the verification process that follows generally involves the following steps:
- Paisabazaar will forward your loan application to the chosen lender after which you will receive a verification call from the lender’s representative usually within 48 hours.
- The prospective lender will either provide you an option to upload your income, KYC, etc. documents online or schedule a document pickup as per your convenience.
- After the successful completion of the lender’s verification and the approval of the loan, you will get another call to verify the loan offer and know your consent for disbursal.
- The loan amount will get disbursed to your account within 48 hours of your acceptance of the loan offer.
Note: Based on the lender’s internal requirements and other criteria the above mentioned turnaround time for personal loan verification/disbursal may vary,
Check Money View Personal Loan Application Status
Once you have applied for a personal loan with Money View, you can check the status of your loan application using any of the following means given below:
- If you have applied through the Money View Website:
- Visit the Money View website and click on ‘Sign In’.
- Login to your loan account using your registered mobile number and OTP.
- Head over to the ‘Dashboard’ section and scroll down to the ‘Application Status’ tab to check the status of your loan application.
- If you have applied through the Money View App:
- Login to the Money View/Money View Loans application.
- In case you have the Money View app, go to the ‘Loans’ section. Once you switch over, you will be automatically directed to the ‘Application Status’ screen where you can check the status of your personal loan application.
- If you have the Money View Loans application, you will be automatically taken to the ‘Application Status’ screen as soon as you open it.
Alternatively, you can also reach out to the Money View customer care via phone call or email to know the status of your loan application.
Fees and Other Charges
Some key fees and charges associated with Money View personal loan are given below:
|Processing Fees||● Starts from 2% of the approved loan amount|
● You don’t have to pay processing fees separately. It gets deducted at the time of disbursal and the balance amount is credited to your account.
|Late Payment Fees||Rs. 500 (cheque bounce charges) + Rs.10 per day (late payment fee)|
|Part Prepayment Charges||As per the Money View** personal loan agreement|
*Foreclosure is permitted only after you have made at least 3 EMI payments and if your EMI repayment period is longer than 6 months.
** Part payment of monthly EMIs is not permitted. According to the terms of the loan, you are required to pay the full EMI on the due date. However, if you wish to pay a part of the entire loan amount, you can contact the customer care.
How to Login on Money View Portal
You can login to Money View’s internet banking portal by following the steps given below:
- Visit the Money View website and click on ‘Sign In’.
2. Login using your registered mobile number and OTP. Once logged in you can access the various online services available on the Money View platform including loan outstanding, previous payment details, next EMI due date/amount and more.
Money View Personal Loan Statement
You can get your Money View personal loan statement both online and offline:
- You can view/download the loan statement by logging into your account on the Money View mobile app or website.
- You can also request for the personal loan statement by contacting the Money View customer care via phone call or email.
The table below gives a sample of monthly EMI payouts (calculated using Paisabazaar’s personal loan EMI calculator) for different Money View Personal Loan principal amounts, interest rates and loan tenures:
|Loan Amount (Rs.) and Interest Rate|
Monthly EMI Payout (Rs.)
|1-year loan tenure||2-year loan tenure||3-year loan tenure||4-year loan tenure||5-year loan tenure|
|50,000 @ 16% p.a.||4,537||2,448||1,758||1,417||1,216|
|2 lakh @ 17% p.a.||18,241||9,888||7,131||5,771||4,971|
|5 lakh @ 20% p.a.||46,317||25,448||18,582||15,215||13,247|