The requirement for an additional fund might pop up without notice and it will be a daunting task to arrange money within a short span. In such cases, consider applying for a personal loan especially if you are a self-employed individual. This process could be executed by downloading the Money view loan app to meet the financial requirements.
The entire loan amount is disbursed to your bank account within two hours of approval. It is indeed one of the major highlights concerning Money view personal loan apps and they are of great help in emergencies. Cash app loan feature allows some users to borrow up to $200 for emergencies. Eligibility depends on things like your state of residence and your credit history.
Features and Potential Benefits of Money View Personal Loan for a Self-Employed
Money View is currently one of the authentic and trustworthy portals that grant personal loans to self-employed individuals. It consists of attractive features and several benefits as well.
- Immediate Eligibility Check: —- An applicant could save a considerable amount of time by checking their eligibility status for a personal loan within two minutes. It implies that he/she need not visit the bank directly to procure a loan and thereby avoid the related hassles.
- Absence of Paper Works: With the Money view, an applicant will be able to eliminate the complications related to paper works.
- Choose a Loan Amount and Repayment Tenure: Based on your monthly income and credit score, you do have the option to pick a loan amount of Rs. 10, 000 and Rs.5,00,000. Even the applicant has the liberty to select flexible repayment tenure up to five years to repay the whole loan amount.
- Comfort and Convenience: The digital platform of Money view makes it extremely simple to execute the loan application procedures. It is completely safe and secure right from application to submission of documents through electronic gadgets like laptops or smartphones.
- Automated Repayment: The repayment of EMI’s is carried out online via the auto-debit feature. It is quite similar to that of the digital application process. It indicates the fact that the applicant is not required to set up a default monthly installment reminder. There are also options to pay EMI through the ‘Pay now option’ via the money view loans app.
- Absence of Collateral Security and Guarantor: There is no need for pledging any assets or collateral security while applying for a personal loan through Money view. If you are considered eligible for the loan and have submitted relevant documents, the whole loan is credited to your bank account within just a few hours.
- Attractive Rate of Interest: By taking into consideration the issues regarding higher rates of interest on the borrower, Money view is granting personal loans with a lower rate of interest i.e. 1.33% per month
- Highly Reliable and Secure: —- Money view app is digitally secured and each transaction carried out online is safe. The internal team of Money view renders exceptional customer services to their esteemed customers 24/7. They would respond to each query posted by a customer.
What are the Eligibility Requirements for Self-employed Individuals?
|Monthly income||Rs. 25, 000|
|Age||Between 21 years and 57 years|
|Credit score||650 or more (for CIBIL)
750 or more (for Experian)
|Proof of income||Submission of previous two years Income Tax Return (ITR)|
Method to Obtain Personal Loans for a Self-Employed Individual with a Minimum Credit Score
In normal cases, most financial institutions and banks demand individuals to obtain a good credit score to get approved for a personal loan. However, the minimum credit score to be procured by an applicant is about 750.
It is not necessary that each individual maintain a good credit score since it relies on numerous factors such as payment history, existing liabilities, and credit utilization ratio. This is one of the major reasons why Money view takes into consideration loan applications from those people who have a low credit score of 650 or more than that.
What are the steps involved to apply for a personal loan for self-employed individuals through Money view?
- Checking the Eligibility Status: You are required to check the maximum amount that you are eligible for by disclosing relevant details demanded by the official website of Money view.
- Download the Money View Personal App: Soon after getting familiar with the eligibility requirements for the loan, an applicant is supposed to download the Money view personal app from Google Play Store and log in to their account.
- Choose a Loan Plan: —- The applicants would come across an option to pick a suitable loan amount along with flexible repayment tenure.
- Uploading the Supporting Documents: The next step involves obtaining the list of documents to be uploaded through the official website of Money view. You are required to fill up each detail contained in the form and make sure that there are no flaws during uploading the documents.
- NACH form Submissions: Once the documents and forms are submitted, Money view would go through it and share a NACH form with the applicant. They are required to take a printout of this particular form and sign it before uploading its scanned copy on the app.
- Agreement of Loan: As soon as you have uploaded the copy of the NACH form, you will be delivered a loan agreement which is to be reviewed and submitted on the app. Once it is completed, the entire loan amount will be credited to your bank account within just a few hours.
Supporting Documents to Be Submitted While Applying for a Personal Loan for Self-employed Individuals
- Aadhar card with previous three month’s bank statements in PDF format
- PAN card and Ration card along with previous two years income tax returns.
- Applicants are supposed to attach a valid driving license or a valid Indian passport.
Money views personal loan apps come to the aid of self-employed individuals while applying for a personal loan. They are providing personal loans at an attractive rate of interest and an option to choose repayment tenure according to the customer’s discretion.