MoneyView Personal Loan is a digital lending platform that offers instant personal loans to eligible individuals. With a simple and easy-to-use application process, MoneyView personal loan aims to provide financial assistance to those in need without the hassle of traditional lending methods.
Moneyview’s loan process is entirely online, allowing you to apply for a loan and get approved from the comfort of your own home. MoneyView also offers flexible repayment terms and competitive interest rates, making it an attractive option for individuals seeking financial support.
Here are the highlights of MoneyView Personal Loan:
Feature | Details |
---|---|
Loan Amount | ₹5,000 to ₹5,00,000 |
Loan Tenure | 3 months to 5 years |
Interest Rate | Starting from 1.33% per month |
Processing Fee | 2% to 8% of the loan amount |
Eligibility Criteria | Age: 21 to 57 years |
Documentation | PAN Card, Aadhaar Card, Address Proof, Bank Statement, Salary Slips |
Disbursement Time | Within 24 hours of approval |
Repayment Methods | Auto-debit, Post-dated cheques, UPI |
Part-Payment Facility | Available after paying the first EMI |
Foreclosure Charges | 0-5% of the outstanding principal amount |
Note: The above details are subject to change and may vary based on the lender’s policies and your eligibility. Please check with the lender for the latest and accurate information.
The interest rate for MoneyView Personal Loan starts from 1.33% per month, but the final rate may vary based on several factors such as your credit score, income, loan amount, tenure, and the lender’s policies. MoneyView uses a risk-based pricing model to determine the interest rate for each borrower, where applicants with a higher credit score and income are likely to get a lower interest rate.
It is advisable to compare the interest rates and other fees charged by different lenders before applying for a personal loan to get the best deal that suits your needs and repayment capacity. Additionally, maintaining a good credit score, a stable income, and a low debt-to-income ratio can help you negotiate a better interest rate and loan terms with the lender.
MoneyView Personal Loan offers several features and benefits that make it a popular choice among borrowers. Here are some of the key features and benefits of MoneyView Personal Loan:
Overall, MoneyView Personal Loan offers a hassle-free and convenient borrowing experience, which makes it an ideal choice for those who need financial assistance for various purposes such as medical emergencies, home renovations, travel, education, and debt consolidation.
Here are the eligibility criteria for MoneyView Personal Loan for salaried and self-employed individuals:
Eligibility Criteria | Salaried Individuals | Self-Employed Individuals |
---|---|---|
Age | Between 21 and 57 years | Between 21 and 57 years |
Monthly Income | Minimum of ₹13,500, ₹20,000 ( residents of Delhi and Mumbai), ₹15,000(Metro City other than Mumbai and NCR) | Minimum monthly income of ₹15,000 |
Credit Score | 650 or above | 650 or above |
Employment Type | Employed with a private or public company | Self-employed professionals or business owners |
Work Experience | Minimum of 6 months in the current job | Minimum of 2 years in the current business/profession |
Business Vintage | Not Applicable | Minimum of 2 years |
Citizenship | Indian | Indian |
Documents Required | PAN Card, Aadhaar Card, Address Proof, Bank Statement, Salary Slips | PAN Card, Aadhaar Card, Address Proof, Bank Statement, Income Tax Returns |
Note: The above eligibility criteria are subject to change and may vary based on the lender’s policies and your profile. Please check with the lender for the latest and accurate information.
To apply for a MoneyView Personal Loan, you need to submit the following documents:
Note that the documents required may vary based on the lender’s policies and your profile. Additionally, the lender may ask for additional documents for verification purposes. Therefore, it is advisable to check with the lender for the latest and accurate information regarding the required documents.
Principal amount
Loan EMI
Total Intrest Payble
Total Payment (Principal + Interest)
Here’s an example of EMI calculation for a MoneyView Personal Loan of ₹1,00,000 with a tenure of 12 months at an interest rate of 16% p.a.
Loan amount: ₹1,00,000
Interest rate: 16% p.a.
Tenure: 12 months
EMI: ₹9,093
Total Interest Payable: ₹9,116
Total Amount Payable: ₹1,09,116
Amortization Schedule:
Month | Opening Balance | EMI | Principal | Interest | Closing Balance |
---|---|---|---|---|---|
1 | ₹1,00,000 | ₹9,093 | ₹8,397 | ₹696 | ₹91,603 |
2 | ₹91,603 | ₹9,093 | ₹8,577 | ₹516 | ₹83,026 |
3 | ₹83,026 | ₹9,093 | ₹8,761 | ₹332 | ₹74,265 |
4 | ₹74,265 | ₹9,093 | ₹8,949 | ₹144 | ₹65,316 |
5 | ₹65,316 | ₹9,093 | ₹9,141 | ₹-48 | ₹56,175 |
6 | ₹56,175 | ₹9,093 | ₹9,338 | ₹-245 | ₹46,837 |
7 | ₹46,837 | ₹9,093 | ₹9,539 | ₹-446 | ₹37,298 |
8 | ₹37,298 | ₹9,093 | ₹9,745 | ₹-652 | ₹27,553 |
9 | ₹27,553 | ₹9,093 | ₹9,956 | ₹-863 | ₹17,597 |
10 | ₹17,597 | ₹9,093 | ₹10,172 | ₹-1,079 | ₹7,425 |
11 | ₹7,425 | ₹9,093 | ₹10,394 | ₹-1,301 | ₹0 |
12 | ₹0 | ₹9,093 | ₹0 | ₹0 | ₹0 |
Note: The EMI calculation is for illustration purposes only, and the actual EMI may vary based on the lender’s policies and your profile. Also, the amortization schedule may differ based on the loan amount, tenure, and interest rate. Therefore, it is advisable to check with the lender for the latest and accurate information regarding the EMI and amortization schedule.
Here’s a comparison of MoneyView Personal Loan with other Banks/NBFCs in India, based on certain parameters:
Parameters | MoneyView Personal Loan | HDFC Bank Personal Loan | ICICI Bank Personal Loan | Bajaj Finserv Personal Loan |
---|---|---|---|---|
Interest Rate | Starting from 16% p.a. | Starting from 10.50% p.a. | Starting from 10.50% p.a. | Starting from 12.99% p.a. |
Loan Amount | Up to ₹5,00,000 | Up to ₹40,00,000 | Up to ₹20,00,000 | Up to ₹25,00,000 |
Tenure | 3 to 36 months | 12 to 60 months | 12 to 60 months | 12 to 60 months |
Processing Fee | 2% to 8% | Up to 2.50% of the loan amount | Up to 2.25% of the loan amount | Up to 4.13% of the loan amount |
Prepayment Charges | NIL | 2% to 4% of the outstanding principal | 5% of the principal outstanding | NIL |
Late Payment Charges | 2% per month | 2% per month | 24% per annum | 2% per month |
Minimum Income | ₹13,500 per month | ₹15,000 per month | ₹25,000 per month | ₹25,000 per month |
Age Criteria | 21 to 57 years | 21 to 60 years | 23 to 58 years | 25 to 58 years |
If you have any queries or concerns related to your MoneyView Personal Loan, you can reach out to their customer care through the following channels:
Note that the above contact details are subject to change and may vary based on the lender’s policies. Therefore, it is advisable to check with the lender for the latest and accurate information regarding their customer care.
Here are some of the key terms and conditions of a MoneyView Personal Loan:
Note that the above terms and conditions are subject to change based on the lender’s policies and may vary based on your profile and other factors. Therefore, it is advisable to check with the lender for the latest and accurate information regarding their terms and conditions.
Here are some of the advantages of a MoneyView Personal Loan:
Note that the above advantages may vary based on your profile and other factors. Therefore, it is advisable to check with the lender for the latest and accurate information regarding their Personal Loan offering.
Here are some of the drawbacks of a MoneyView Personal Loan:
Note that the above drawbacks may vary based on your profile and other factors. Therefore, it is advisable to check with the lender for the latest and accurate information regarding their Personal Loan offering.
Moneyview is a legitimate fintech company that provides personal loans and other financial products to customers in India. The company is registered with the Reserve Bank of India (RBI) as a non-banking financial company (NBFC) and operates under the regulations and guidelines set by the RBI.
Moneyview has also received funding from reputed investors such as Tiger Global, Ribbit Capital, and Sequoia India, which further validates its legitimacy.
In conclusion, Moneyview is a real and legitimate company that provides personal loans and other financial products to customers in India. However, it is always advisable to do your due diligence and research before applying for a loan or any financial product to ensure that you are dealing with a reputable lender.
Yes, the MoneyView Personal Loan app is safe to use. The company uses advanced encryption technology to secure its platform and protect users’ personal and financial information. Additionally, MoneyView has implemented various security measures such as two-factor authentication and secure login to ensure the safety and privacy of its customers.
Moreover, MoneyView is a registered NBFC with the Reserve Bank of India (RBI) and operates under the regulations and guidelines set by the RBI. The company also follows strict data protection laws and regulations to protect users’ privacy and data.
However, as with any financial app or service, it is essential to exercise caution and follow basic security practices such as keeping your login credentials secure, updating your password regularly, and avoiding using public Wi-Fi or unsecured networks while accessing the app.
In conclusion, the MoneyView Personal Loan app is safe to use, but it is always advisable to take necessary precautions and ensure that you are downloading the app from a trusted source.
Company (NBFC) under the registration number B-14.01212. The RBI regulates and supervises the functioning of NBFCs in India to ensure the safety and soundness of the financial system.
As an RBI-registered NBFC, MoneyView is required to comply with various guidelines and regulations set by the RBI to safeguard the interests of its customers and ensure the financial stability of the organization. This includes maintaining adequate capital and liquidity ratios, complying with KYC and AML guidelines, and ensuring fair practices in lending and collection.
Therefore, if you are considering applying for a personal loan with MoneyView, you can be assured that the company is legitimate and regulated by the RBI. However, it is always advisable to research and compare multiple lenders before making a decision to ensure that you are getting the best deal.