moneyview Personal Loan interest rates start from just 1.33% p.m. Also, this personal loan comes with a flexible tenure that ranges up to 60 months. Multiple factors such as your credit score, income, and so forth, affect the interest rate offered by moneyview. You can also check other associated costs of the loan and how to check the total cost of the loan before applying to make an informed decision.
Let’s understand the interest rates and other details of a moneyview Personal Loan:
Parameters |
Details |
Interest Rate |
Starting from 1.33% per month or 15.96% p.a. |
Processing Fees |
Starting from 2% of the approved loan amount |
*Disclaimer: The mentioned values are subject to change at the lender’s discretion.
Here are the additional fees related to a moneyview Personal Loan that you should be aware of:
Parameters |
Details |
Cheque bounce penalty |
₹500 for every bounce |
Penal charges on overdue EMI |
24% p.a. + applicable taxes |
NACH bounce penalty |
₹500/- each time |
*Disclaimer: The mentioned values are subject to change at the lender’s discretion.
Your moneyview Personal Loan interest rate is usually affected by the factors listed here:
Credit score
Salary and other income
Employment history
Loan tenure
Debt-to-Income (DTI) ratio
Type of employment
Global economic conditions
The traditional method to check the personal loan EMI is to use the following formula:
EMI = P x R x (1+R) ^N / [(1+R) ^N-1]
Where,
P = The borrowed loan amount
N = The repayment period
R = The interest rate
EMI = The instalment
Let’s consider an example. Assume you got a moneyview Personal Loan of ₹10,000 at an interest rate of 15.96% p.a. The repayment period for the loan is 12 months. By using the aforementioned formula, you can find the EMI amount which is ₹907.12.
Ensure to check the difference in EMIs based on changes in interest rates and tenure for better understanding. For this task, using a personal loan EMI calculator can be quite useful. It provides the required calculations within seconds making it easy to check multiple loan offers and compare them.
Frequently Asked Questions
Who is eligible for a personal loan from moneyview?
To be eligible for a moneyview Personal Loan you must fulfil these basic criteria:
You should be self-employed or salaried
Your age must be between 21 and 57 years
You should have a minimum monthly income of ₹13,500
Your salary must be credited to your bank account
You should have a bank balance of at least ₹10,000
Furthermore, you need to provide some documents when applying for the loan. These include:
PAN card or Aadhaar card
Address proof
Bank statement or any other income proof
What is the minimum salary required to apply for a moneyview Personal Loan?
To be eligible for this loan, you should have a minimum monthly salary of ₹13,500.
Does moneyview offer personal loans at fixed or floating interest rates?
moneyview offers fixed and floating interest rates on their personal loans. This is subject to your eligibility and the lender’s policies. Reach out to the lender to learn more about the rate offered.
What is the processing fee charged on a moneyview Personal Loan?
A processing fee starting from 2% of the approved loan amount is charged on a moneyview Personal Loan.
What is the interest rate for moneyview Personal Loan on a per-annum basis?
moneyview Personal Loan interest rates start from 15.96% p.a. or 1.33% p.m.
