moneyview loans FAQs

The eligibility criteria to apply for a moneyview Personal Loans is transparent . Our basic eligibility criteria is

A salaried or self-employed individual
Monthly in-hand income of ₹13,500 or more
Income should be received in a bank
Min CIBIL score of 600 or Experian score of 650
Should be aged between 21 years and 57 years

The minimum amount that you can borrow on moneyview loans is Rs.5,000. The maximum loan amount is calculated by our algorithm and can go up to Rs.5,00,000.

Yes, moneyview provides loans to self employed applicants as long as they fulfill the following eligibility criteria

• Monthly in-hand income of ₹15,000 or more

• Income must be credited to a bank account

• Minimum CIBIL score of 600 or Experian score of 650

• Should be aged between 21 years and 57 years

No, you don't need any collateral/security for this loan.

At this point in time, we only give loans to those individuals who get their salary via bank transfer – directly from their employer. We will not be able to give loans to those individuals who get their salaries in cash.

No, you can’t change your loan amount on the app after you’ve submitted your application. If you’ve made any errors during the application process, please email us at care@moneyview.in, Do keep in mind that you can’t change the loan amount or the terms after you’ve reviewed and submitted the Loan Agreement.

Yes, you could apply. Our verification team may approach you for verification of Salary slip at a later date.

No, we only support banks that are recognized by the moneyview as it ensures the authenticity of the bank account.

Our system generates the maximum amount you are eligible for based on various parameters like your credit score, income, other loans, etc. You will not be able to borrow a higher amount than this amount for this time. But, if you show consistent repayment record, we could offer you a Top-Up loan after sometime or you could be eligible for a higher amount next time.

No, we don’t provide the option of applying for a new loan if a user already has an existing one. We may enable the option of a Top-up loan after 6 months for an user with a good repayment record.

A top-up loan is an additional loan which you can club with your existing moneyview loan account.

We provide personal loans ranging from Rs 5,000 - Rs 5 lac with a tenure from 3-60 months and monthly interest varying from 1.33% - 2.5%. Annual Interest rates vary from 16% - 36%. The processing fee varies from 2% to 5% of the loan amount.

Benefits:

• Check your eligibility for an instant loan in 2 minutes
• Loan amount is disbursed to your account in just 24 HOURS of approval
• From documentation to repayment, the entire process is done digitally

For any data deletion request, please reach out to our customer care support. Email at - payments@moneyview.in

You can get an instant loan on moneyview without any paperwork by following these steps:

1.Complete and submit your loan application on the app/on our website by giving your personal and employment details, bank statements and submitting your KYC documents.

2.Once you’ve submitted your loan application, we’ll go through your documents and assess your creditworthiness along with other important details on your application.

3.Post the verification process, we’ll send you a NACH form, which you’re required to print, sign on, scan, and send back to us. This NACH form is to enable the auto-debit facility for your bank account so you can pay your EMIs on time automatically.

4.On receiving your NACH form, we’ll send you a loan agreement on the app. You’ll need to review and submit the agreement. Post this, your loan amount will be credited into your bank account in a few hours.

Here’s the list of documents you will need to apply for a loan on our app:

For Salaried Applicants

• Identity Proof – Aadhaar/PAN Card
• Current Address Proof – If Aadhaar Card doesn’t feature your current address
• Bank Statement (Salary A/C) – Last 3 months’ statement with salary credits

For Self Employed Applicants

• Identity Proof – Aadhaar/PAN Card
• Current Address Proof – If Aadhaar Card doesn’t feature your current address
• Income Tax Return Verification Form for the last 2 years

Please make sure that the documents listed above are valid at the time of submission of your loan application.

Also, if you are able to clear the oKYC process during your application flow, the document requirement will be minimal.

The entire loan application process for getting a moneyview loan is digital. So you will have to submit all the required documents online either on our app or on the web application, depending on where your are applying from.

As we follow a completely digital process, we will not be in a position to accept your documents on email. We have made our application process simple enough for everyone to follow. If you are still getting errors while uploading your documents, you can send us a screenshot of the problem to care@moneyview.in

We try our best to process your loan within 24 hrs after the submission of your loan agreement. Steps such as filling out the application, approval of your NACH mandate, and eligibility check happens before the loan agreement stage and are not a part of this 24-hours period. To increase chances of faster disbursal, we would advise you to submit correct documents during your application process.

As a part of the loan application process, you would be submitting a NACH mandate, this will allow us to auto debit your EMIs. This is also a hassle free process as you need not remember EMI dates and do manual transfer each time.

If the auto-debit feature for your loan account is not enabled or activated for some reason, you can still pay your monthly EMIs through the ‘Pay Now’ option on our app. You can either use your debit card or your netbanking account to make your payments with this option.

To ensure timely repayment of all loan EMIs, you will have to enable an auto-debit facility from your bank account through NACH mandate. You will have to download, print and sign the NACH mandate and email it to us. After this we review your loan agreement which has your identity and address proof attached to it. If your Aadhaar Card is one of these attachments, the first 8 digits will be masked. You will then receive an OTP on your registered number, which you’ll need to enter to be able to submit the loan agreement. Your loan will be disbursed only after completion of this step.

No, you can cancel the loan only before you’ve submitted the Loan Agreement form. After you submit this Loan Agreement, you will not be able to cancel the loan.

No, moneyview only facilitates the process of lending and repayment of the loans. Yes, your loan request data will be shared with the lender. This is done to facilitate the process of you getting the loan from the lender.

Please ensure that you are filling in your current address in English, and you are not using any special keyboard or characters to enter your address. Please give your complete address with house number and street name (if applicable). Please make sure that your address matches the address specified on your documents.

We have made sure that the loan request process on our app is smooth and bug-free. But, if your app crashes at any point in time, you will be able to restart from the same step.

Here’s the list of documents you will need to apply for a loan on our app:

For Salaried Applicants

• Identity Proof – Aadhaar/PAN Card
• Current Address Proof – If Aadhaar Card doesn’t feature your current address
• Bank Statement (Salary A/C) – Last 3 months’ statement with salary credits

For Self Employed Applicants

• Identity Proof – Aadhaar/PAN Card
• Current Address Proof – If Aadhaar Card doesn’t feature your current address
• Income Tax Return Verification Form for the last 2 years

Please make sure that the documents listed above are valid at the time of submission of your loan application.

Also, if you are able to clear the oKYC process during your application flow, the document requirement will be minimal.

Our internal team sends out emails to you only if there’s an issue with one or more of the documents you’ve uploaded. Please go through the email you’ve received for more details on what documents we require from you again. Be sure to follow the upload instructions clearly to avoid this situation again.To ensure quick processing, we request you to upload the required documents on our app.

To begin with, you’ll need to register yourself for the internet banking facility with your bank. Once you have a valid ID and a password, log in to your account and look for the option to download a pdf version of your account statement. If you’re unsure as to how you can do this, here’s a comprehensive guide to help you along.

If you do not have the hard copy of your PAN with you right now, you could make a video with your Original Aadhaar Card and upload the same. But a video with the soft copy is not permitted.

We would not be able to process your application without any one of the approved current address proof. Please try to arrange an address proof which is listed by us to ensure faster loan processing.

Many times the bank statement sent or downloaded is not in the right format. To ensure your loan is processed at the earliest, please download bank statement in PDF from your bank website or the one received in your registered email id and upload it on our app.

As a policy we require minimum 3 months of bank statement for salaried applicants. Our system does not allow upload of more than 1 bank statement.

No, as we follow a completely digital process, we will not be able to accept any documents by email. Please upload them online for faster processing of your loan. If you are facing problems in uploading the docs, you could send us the screenshot at care@moneyview.in

The rate of interest starts from 16% p.a and is based on the assessment of your details like credit score, income, other loans, obligations or the selected lender etc.

Yes, we charge a small fee to process your loan. It starts from 2% of your loan amount and is decided by our system based on various factors. The applicable processing fee will be deducted from the loan amount while the remaining funds will be transferred to your account.

On your screen, you should be able to see a column called "Monthly EMI". That is the amount you will be paying each month. The Loan term column tells you the duration of the loan, and you will have to pay your "Monthly EMI" every month for that duration.

The Interest column is for your information only, and specifies the entire interest you are paying on that loan amount in the entire duration. It is not related to the amount you will be paying.

Your EMI which is also known as Equated Monthly Installment consists of a portion of principal repayment as well as interest payment on the loan. The EMI amount on your loan depends on the principal amount, the loan tenure and the rate of interest

Yes, We follow the reducing balance method for interest calculation. We have added a small example here to make it more clear for you.

Suppose you avail a loan for Rs 50000 for a term of 6 months at an interest rate of 16%. Your repayment schedule will look like the example below. You would see that your outstanding loan amount is reducing with payment of each EMI, which is why this method is called the reducing balance method for interest calculation.

The loan will be repaid in EMIs which will be automatically deducted from your bank account. This is done only after you’ve authorized us to deduct the proposed EMI amount that’s specified during the loan request process in the app.

We allow loan tenures anywhere between 6 months to 60months. You can choose the tenure that is most suitable to your needs.

Yes. If the auto-debit facility is not activated for your linked account, you can pay the loan EMI manually through the ‘Pay Now’ button on our app.

We would advise you to make your monthly EMIs on time for your entire repayment tenure. However, if you end up missing any EMI payment and the auto-debit request gets declined, you’ll firstly have to bear with additional charges from your bank. This fee can vary from one bank to another. On the other hand, we give you a grace period of 2 days to make this payment. If you’re still unable to pay the EMI on time, you will have to pay cheque bounce charges and a separate late payment fee – Rs.500 (cheque bounce charges) + a Late payment fee of 2% additional interest per month on overdue EMI amount is charged for the delay. This fee will add up until you make the payment for that month.

The loan amount gets automatically debited on the 5th of every month. If you don’t have the required funds in your account, we allow a grace period of up to 3 days during which you can request for a Loan EMI transfer through the app to avoid any late charges. Beyond this time period, a late payment fee will be charged.

You could foreclose/pay-off the loan amount anytime without penalty based on your loan's tenure.

If your loan's tenure is upto 6 months - No Foreclosure allowed

If your loan's tenure is from 7-18 months - Foreclosure allowed after making 6 EMI payments

If your loan's tenure is >18 month tenure - Foreclosure allowed only after making 12 EMI payments

For any support, you can also reach out to us at care@moneyview.in ."

Part payment of EMIs is not allowed. As per the terms of the loan, you are required to pay the full EMI on the due date.

Your credit score is a number that represents your creditworthiness. It is based on previous loans that you might have taken, your credit card usage patterns, as well as your promptness in paying back any loans/credit card bills on time.

During the process of applying for a loan via moneyview, you will need to allow us to pull your credit report to assess your overall creditworthiness. This report will be kept private. It will not affect your credit score.

At this point of time, we only give out loans to people with a credit score of 675 or higher.

The minimum credit score that we look for is a CIBIL score of 600 or an Experian Score of 650.

Yes, there will be a credit report enquiry made whenever you borrow from moneyview. This enquiry will only be made after you submit the loan application.

Your credit score gets affected only if you’re not able to pay back the loan EMIs on time or if you miss payments altogether. With consistent repayments, your credit score will only improve.

No, your credit score will not be affected if your loan application is rejected. But if you have had several loan enquiries with multiple lenders, it can affect your credit score.

NACH stands for National Automated Clearing House (NACH). It is a centralised system that’s similar to ECS. It was launched with the aim of merging multiple ECS systems running across the country and to introduce higher efficiency. It has replaced ECS for auto-debit transactions in India and has been operational since May 2016. You can read more about NACH here(https://bit.ly/37cdQYQ). We require your signed NACH mandate to auto-debit EMI payments from your account.

The last step of the loan request process includes you sending us a Loan Agreement form with the authorization of deducting a proposed EMI amount for a certain duration (depending on the loan plan). This Loan Agreement form will contain a NACH mandate, which will enable us to auto-debit the EMI amount directly from your bank account.

If the Auto-Debit feature for your loan account is not enabled or activated for some reason, you can still pay your monthly EMIs through the ‘Pay Now’ option on our app. Here, you can either use your Debit Card, NetBanking account, or UPI ID to make payments.

If the ‘Pay Now’ option is visible on your app, you can go ahead and make a payment – advance or overdue instalments. If you’re paying an instalment in advance, we will not be initiating the auto-debit feature for the following month.

Once you upload the NACH mandate form, we send a request to your bank to enable the auto-debit feature. Your bank will then verify your signature and other important details before enabling the auto-debit feature.If you continue to notice that this feature is still disabled after a couple of days, please get in touch with us at care@moneyview.in

We usually get the monthly auto-debit report by the 7th or the 8th day of that month. Our internal team usually updates the platform once this report is checked and verified. So, there’s nothing for you to worry about as long as you’ve made the payment.

The amount in the NACH form is equal to your loan amount but your EMI remains the same as what you’ve chosen on the app. This is done for your convenience by reducing multiple NACH authorizations when taking an additional loan. For instance, each time you borrow more money through a top-up loan or credit line, we’ll have to get a new NACH mandate to accommodate the change in the EMI amount.To avoid such a cumbersome process, we have simplified things by taking a single NACH mandate authorization, which is equal to your initial loan amount.

The cancellation of NACH mandate is an easy process. You can use the given link to raise a request for canceling the NACH mandate registered with moneyview. You'll be required to authenticate using your PAN number to proceed. Click here!

You could foreclose/pay-off the loan amount anytime without penalty based on your loan's tenure.

If your loan's tenure is upto 6 months - No Foreclosure allowed

If your loan's tenure is from 7-18 months - Foreclosure allowed after making 6 EMI payments

If your loan's tenure is >18 month tenure - Foreclosure allowed only after making 12 EMI payments

For any support, you can also reach out to us at care@moneyview.in.

There can be 2 reasons why you’re unable to see the “Foreclose Loan” section on our app: You’ve still not paid the mandatory number of EMIs to be eligible.

Loan foreclosures are only allowed after the 8th of every month.

If you have any other questions regarding loan foreclosures, please contact us at:

Phone: 080 6939 0476

Email: payments@moneyview.in

We have made sure that the loan request process on our platforms is smooth and bug-free. If you are using our website for your loan application, we recommend that you save your application frequently. And if your app crashes at any point in time, you will be able to start from the same step where the app crashed previously. Still if you face any difficulty, please get in touch with us at care@moneyview.in along with the details of the issue.

If you can’t see the Loans tab on your moneyview app, please make sure to update the app to the latest version.

moneyview’s security systems are designed to be in line with those of the best banks in the country. Rest assured knowing that all your data is safe and secure as we use 256-bit data encryption for data management.

KYC is a mandatory requirement in accordance with RBI regulations. We ask for minimal documents for your KYC process. All your personal and financial information are encrypted using SSL protocol. So all your information is completely safe with us.

eKYC or oKYC service is regulated by the UIDAI and has stringent security measures in place. All your KYC data is encrypted and digitally-signed to ensure authenticity at every step.

We never store any password related information that you share with us. It is in encrypted format and will be used only to read your bank statements.

If you change your phone or your SIM, you can download the moneyview app again and restart from where you left.

Top up loan is a feature by which you can get an extra loan amount on top of your existing loan. It is currently an invitation-only feature, and only users with good payment history are pre-qualified for it

You only need Aadhaar card for it. We will also pull your CIBIL score to assess if you can get a Top Up loan.

When you take a top-up loan, we generate a new loan account for you. This new loan account has the due amount of the existing loan along with the top up loan amount.

Your existing EMI Auto-Debit will stop, and a new Auto-Debit mandate is generated with a new EMI amount.

Pre-EMI amount is an upfront EMI amount that is deducted from your loan amount till the actual EMI Auto-Debit happens. It is done to make sure a monthly EMI is debited after you take a loan from us.

Yes, you have to keep paying your existing EMIs till your new top-up loan amount is transferred to your account.

Yes, you have to keep paying your existing EMIs till your new top-up loan amount is transferred to your account.

You can cancel your Top-Up process anytime before submitting your new Loan agreement by dropping us a mail at care@moneyview.in

With a top-up loan, a new loan account is generated which contains your previous unpaid amount with the new top-up amount. This new loan account is created with a new lending partner; hence a new agreement is generated. This new agreement needs to be authorized by you to get the top up amount.

As a top-up loan is a primarily a new loan, standard processing fees apply to it as well.

moneyview's Line of Credit is a flexible form of personal financing that’s given to you based on your overall credit rating. It allows you to spend up to an approved credit limit and repay it later at your convenience.

You can use this credit line to make online purchases, scan any QR code & make payments, or transfer the money directly to your bank account. Based on your spending, a monthly statement will be generated & sent to you on the 26th of each month.

You have the option to pay all your dues in full or in flexible monthly EMIs. If you pay your total dues by the 3rd of the next month, there will be no interest or fees!

Alternatively, your total dues will be automatically converted into an EMI repayment plan that you can see on the app. Please note that any applicable interest charges or fees will be according to your loan agreement.

Billing cycle and Bill generation

Billing Cycle extends from 26th of month 1 to 25th of month 2. At the end of the Billing Cycle, all the transactions you’ve made during the Billing Cycle with additional transaction fees will be your “Billed Amount”. Your SmartStatement will include the minimum due amount, the full due amount & the billing date.

Statement Bill - Convert the Billed Amount into an affordable monthly payment plan

You will have time from 26th of the billed month to the 5th of the next month to pay the minimum due for the generated bill. You can choose to pay the full amount in one go as well.

Below is an example for better illustration,

Billing Cycle: 26th March to 25th April

Transactions on the Credit Line:

• 1- April Rs. 2000
• 4- April Rs. 3500
• 20- April Rs. 4500

Bill Generation Date: April 26th

Billed Amount: Rs. 10000 (Sum of all transactions during the Billing Cycle)

Time period to pay the minimum due : 26th April to 5th May

On paying minimum due, an EMI conversion fee will be applied on the account and billed in the upcoming statement date.

If the overall due or bill statement is cleared by the 3rd of the month, there will be no EMI conversion fee and the principal will be settled at once.

Minimum due will be calculated automatically based on your eligible tenure

First Repayment Date: 5th of April.

One-time charge for activation

There are no charges for activating your MV Line of Credit. You can pay your bill in two ways:

1. Pay in one go (full statement bill) next month by 3rd of next month - NO EXTRA COST
2. Pay Minimum Due - Interest will be applicable based on your profile + a one time EMI conversion fee will be levied on the bill amount.

For example if you purchase an item worth Rs.5000 and another for Rs.750, the total bill amount would be Rs. 5750 on a particular statement date of a month. So,

1. Pay in one go next month by the 3rd - Rs. 5750/-
2. Pay Minimum due - An EMI repayment plan is generated in the longest available tenure automatically. There will also be an additional EMI conversion fee.

Since moneyview doesn't get a real time update when a customer cancels their order with the merchant, we wait for the cancellation confirmation from merchants. Usually, merchants send confirmation within 7 business days, but it may vary for different merchants.

Please note that moneyview will credit the refund amount to users’ accounts as soon as we get a confirmation.

However, in case the account is in a delinquent state, the refund money will be first adjusted to the delinquent amount and then the remaining amount will be processed directly to the user's account.

When a transaction is canceled/failed, moneyview doesn’t get a real time update of failure. We receive confirmation from the Bank/Merchant. Usually, merchants send confirmation within 7 days, but it may vary for different merchants.
This refund would be credited in 7-10 business days (Saturday, Sunday and the Govt. holidays will not be considered ) after the refund is initiated from the respective merchant.

The amount will be directly credited to the user’s bank account. In case you don’t get a refund in this duration, please share the details listed below at care@moneyview.in

1. Transaction ID
2. Amount
3. Transaction failure proof (Mandatory if the transaction failed in case of online merchants)

Please note that the moneyview Line of Credit cannot be used for ATM withdrawals or any wallet recharges (Paytm/PhonePe,etc) Other than this, you should be able to use it for any online or offline transactions. If a specific transaction has failed, please share the details listed below so we can help you better

1. Merchant (where you tried to using the credit line)
2. Transaction Amount
3. Date of transaction

In case of transaction failure, any amount debited from your account is usually refunded instantly. In case you have not received the refund, please write to us at care@moneyview.in

Once you are approved, you will be provided a specific Credit Limit – a measure of funds at your disposal. You can use it to make any online/offline purchases.

In simpler terms, Credit Limit is the maximum amount you can borrow from moneyview

Once you have signed up, you need to apply for a Line of credit using the moneyview app. Based on the details shared in the application, you will be approved for the credit line.

You can get a credit limit of up to ₹1,00,000 if you are a salaried professional

While a higher credit limit gives you more purchasing power, it can also increase your overall debt if you are not spending responsibly. Lenders usually follow several criteria to determine your ideal credit limit. When you apply for more credit, matching these criteria decides the extent of your approved limit.

Below are some of the reasons why your request for a higher credit limit can be put on a waitlist:

1. You don't have a repayment history on moneyview in spite of having an active credit account.
2. You have delayed repayment at your current lender platform or at other lenders in the past 12 months.
3. You have opened too many credit accounts in the past 8-12 months.
4. You have applied at too many lending platforms in the past 3 months.
5. Your outstanding debt is more compared to your monthly income.
6. Your credit utilization is high at the current lender platform or at other lenders.
7. Your account was not active for the past 3 months.
8. Recent delinquencies reported to credit bureaus.
9. You don’t have enough income for a credit limit increase.

We understand that you wish to continue to use our services. Unfortunately, your profile can be put on hold due to delay(s) in your repayments. We wish we could help you with this but we are bound by financial policies and guidelines.

We will certainly check your profile's eligibility for activation and if the profile is reconsidered, you will be notified but we cannot promise a positive action at all times.

Currently, we don’t allow users to choose the tenure. Rather, we automatically generate the best tenure available according to the profile.

A server/network related issue can cause your bank transfer order to be in pending status. In such scenarios, we request you to wait for 30-60 minutes before you place another order. Within this time, your order will either get confirmed or cancelled.

If the order is confirmed, then the money will be credited to your bank account. In case it fails, your order will get cancelled and the amount will be restored in your credit limit. You will also get an SMS as confirmation.

At moneyview, we make sure that all the transactions are safe and secure. To ensure this, we ask for an OTP confirmation from you during bank transfer. Besides providing the required level of security, it also makes sure that you have made the transaction consciously.

You will be able to use your MV Platinum card at all online/offline merchants who accept payments via Credit/Debit Cards with the exception of certain merchants such as prepaid wallets. You also cannot use this card to withdraw cash at ATMs.

Please note that moneyview holds discretion over the list of merchants where the card would work or not & this list may vary with time.

To register any card related complaints or share feedback, please contact SBM Bank on their Toll Free number-18001033817 or send an email to customercare@sbmbank.co.in