If you’re in need of an instant loan to meet your financial needs, MoneyView loan is always an option to consider. Moneyview lending platform offers quick loans to both salaried and self-employed individuals with seamless application process.
Just like other online lending platforms, Moneyview has its terms and conditions that regulates their lending services. Hence, it is important to understand their terms before opting for their loan.
In this post, we are going to explore the lending terms of Moneyview platform like their loanable amount, loan term, eligibility criteria, legitimate nature of the platform and other relevant aspects of this article. Keep scrolling through the article to get the detailed information you desire.
1. Requirement for MoneyView Loan
To qualify for a loan at MoneyView, applicants are expected to meet the following eligibility criteria. They are:
- The applicant must be either self-employed or salaried.
- Must be between the age range of 21 – 57 years old.
- The intending applicant must have the minimum CIBIL Score of 600 or Experian of 650.
- Your active bank account should be used for receiving your monthly income.
2. MoneyView Loanable Amount
Borrowers can take up to ₹10,00,000 from MoneyView lending platform once they meet the requirements. To increase your chance of accessing the loan, it is best to have a good credit score in addition to meeting other requirements.
However, the loan amount that borrowers can take from Moneyview ranges from ₹5,000 – ₹10,00,000.
3. MoneyView Loan Term
The loan tenure of Moneyview loan is very flexible, it is primarily designed such that borrowers can easily pay off their loan with ease.
The MoneyView repayment plan ranges from 3 – 60 months.
4. MoneyView Loan Interest Rate
The interest rate of MoneyView varies depending on the loan amount chosen and the repayment plan opted for.
The Annual Percentage Rate of MoneyView loan ranges from 16% to 39%.
Additionally, you will also be charged a processing fee that ranges from 2% – 8% of the loan amount.
MoneyView Loan Representative Example
Let’s assume you take a loan with the breakdown below:
Loan amount: ₹50,000
Loan tenure: 12 months.
Interest rate(APR): 24%
Processing fee: ₹1,750 + ₹315 GST (No additional fee).
Monthly EMI: ₹4,728
The disbursed amount: ₹47,935
Total interest rate: ₹6,736
Therefore, the total repayment amount will be ₹56,736.
5. MoneyView Loan Application Process
Applying for MoneyView loan is straightforward, follow the steps below to apply:
- Download & install the MoneyView Loan App from the official app store.
- Register with the required details to get started.
- Go through the eligibility criteria.
- Select the loan amount and repayment plan that is suitable for you.
- Complete your KYC verification, and then verify your income.
- Wait for your loan application review.
- Finally, if approved the loan amount will be disbursed to your chosen bank account in a matter of a few hours.
6. Is MoneyView Fake or Real?
MoneyView appears to be a legitimate lending platform because their services are regulated by Nonbank financial companies (NBFCs). Apart from that, they also partner with the Reserve Bank of India(RBI). Additionally, their policies are fully regulated hence they strictly adhere to the DLAI code of conduct.
However, since lending institutions are liable to change overtime, we strongly recommend that you conduct independent due diligence about the services of MoneyView lending platform before patronizing them to know if it is okay by you or not.
MoneyView Customer Care
For assistance, you can reach out to MoneyView lending platform on email@example.com.
7.MoneyView Loan Review
Our check on different review platforms, Trustpilot & Google Play Store reviewed that users of MoneyView platform have diverse views concerning the lending services offered by Moneyview.
On Trustpilot, Moneyview loan is rated 3.4 stars out of 5 while on Google play store, the loan app is rated 4.7 stars out of 5. Some of the reviews from users are sampled below;
From Trustpilot, Aarush has this to say: ‘’I can’t believe I finally got my money back. It took about 3 months but finally I got all my money back. I just want to thank the details on my title. I was so skeptical that it seemed too good to be true because I was sure I lost my money. However, after our conversation I understood that they really can help me’’.
Another user from Google play store, Saurabh Singh: ‘’Worst experience. I enabled auto debit. In the 1st emi auto debit was successful and everything was fine. At time of second emi auto debit didn’t work and app stop working I tried from 3 mobile phones and laptop,also check by changing location ,so I can login into app to pay emi on time. But every time money view disappointed me. Even it can’t show pay option link shared by money view. I suggest not to take loan from moneyview. Interest rates are also high with height processing fees and poor service’’.