Money View Personal Loan

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.

Eligibility Criteria

The eligibility criteria for availing a Money View personal loan is simple and as follows:

* 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:

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:

1. Visit Paisabazaar.com and fill out the online personal loan application form to receive offers.
2. You will get offers from several lenders sorted as per the chances of approval using the Smart Match algorithm.
3. Select a prospective lender such as Money View from the list or get in touch with Paisabazaar for assistance.
4. 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:

1. 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.
2. 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.
3. 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.
4. 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:

1. Visit the Money View website and click on ‘Sign In’.
2. Login to your loan account using your registered mobile number and OTP.
3. 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:

1. Login to the Money View/Money View Loans application.
2. 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.
3. 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:

*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:

1. 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.

EMI Calculation

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:

Money View Personal Loan Top Up

Money View offers borrowers the option to avail a top-up loan on their existing loan whereby they can get an extra loan amount to meet additional financial requirements. At present, this is an invitation-only feature and only individuals with clean payment history are pre-qualified for it. When you opt for a top-up loan, a new loan account is generated for you which will have details such as the due amount of the existing loan as well as the top up loan amount.

Comparison of Money View Personal Loan vs Other Lenders

Given below is a comparison of the key features of a personal loan offering from Money Tap with other top lenders in the India:

Money View Customer Care

You can use any of the following means given below to contact the Money View customer care:

• By Phone: You can call on the company’s customer care number 080-4569-2002
• Email: You can also contact the customer care via email. The email address for specific queries are given below:

Loan Payment Queries: payments@moneyview.in

Loan queries: loans@moneyview.in

General queries: feedback@moneyview.in

Benefits of Applying for Personal Loan on Paisabazaar

The following are a few key advantages of applying for a personal loan at Paisabazaar:

• The Paisabazaar website site can be accessed 24×7- anytime and anywhere.
• The completely digital platform eliminates the need for borrowers to physically visit the branch office or website of several prospective lenders.
• The Paisabazaar platform lets you compare key personal loan features such as interest rate, processing fees, etc. offered by various lenders on a single platform and thus, enables you to select the most convenient option for yourself.
• Paisabazaar also allows you to know the EMIs that you would be paying on a particular personal loan even before you apply for it. This enables you to plan your finances in a better way and choose a convenient loan amount and repayment tenure.
• With Paisabazaar.com you can apply for a personal loan for free- without paying any charges.

Important Aspects

Some key facts that you must keep in mind when applying for a personal loan with Money View are as follows:

• While Money View offers personal loans to even those with no or low credit score, it is always good practice to check your credit score before you apply for a personal loan. A low credit score may lead to the rejection of your loan application or a higher rate of interest on your personal loan.
• Before you really apply for a personal loan, compare different interest rates and charges online to get the best deal.
• Refrain from applying for a personal loan with various lenders simultaneously. It portrays you as a credit hungry high risk borrower and also increases the number of hard inquiries for your credit report which may negatively affect the chances of loan approval.
• Keep your requirement and repayment ability in mind when borrowing. Borrow only as much as you need instead of borrowing a higher amount simply because you are eligible to borrow more.
• Consider the complete cost of the loan. Interest is not the only cost that you need to pay. Other charges such as processing fees, late payment fee, foreclosure charges, etc. must also be considered before opting a particular personal loan offer.

FAQs

Q1. I am a self-employed person and my income varies every month. Can I get a personal loan from Money View?

Money view gives a personal loan to businessmen/self-employed individuals with a minimum monthly income of Rs. 25,000. Even if your income varies, if you satisfy the above criteria, you can submit your application along with your IT return and bank statement.

Q2. What are the possible reasons for rejection of Money View Personal Loan application?

Money view grants the loan based on the documents submitted. Given below are some possible reasons that may lead to rejection of your loan application:

• Credit Score less than 650
• Salary credit less than Rs. 13,500 per month
• Business income less than Rs.25,000 per month (for self-employed applicants)
• Incorrect / Invalid / Insufficient documents
• Very high existing EMI as a percentage of total income
• Disqualification as per Money View algorithm due to any other reason

Q3. I get my salary in cash from my employer. Can I avail a Money View Personal Loan?

Money View grants personal loans only if salary credit is through direct bank transfer. Those who get their salaries in cash cannot secure a personal loan from Money View.

Q4. What is the minimum and maximum loan amount available on a personal loan from Money View?

You can avail a personal loan ranging between Rs. 5,000 to Rs. 5 lakh from Money View to deal with various financial exigencies.

Q5. How long does Money View take to disburse its personal loans?

Money View aims to disburse the loan amount into your account within 24 hours of the approval of your personal loan.

Q6. Can I get a second personal loan from Money View?

You can get a second personal loan from Money View only after you repay your first personal loan in full. You cannot get the next loan until there is an outstanding amount in your existing loan account.

Q7. What will happen in case I don’t have enough funds in my account during Auto-Debit of Money View personal loan EMI?

Money View grants you three days’ grace period if you miss your EMI payment for any reason. Within the grace period, you can pay the EMI through electronic transfer facility available in Money View app. After the expiry of the grace period,  a late payment fee will be charged.

Q8. Can I foreclose my Money View personal loan?

Once you have made at least three EMI payments, you can foreclose your Money View personal loan account without paying any foreclosure charges. However, foreclosure is permitted only if your loan repayment period is longer than 6 months and already made at least 3 regular EMI payments.