How Do You Get An Immediate Personal Loan For Emergencies In India?

By Author: Saahil
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Emergencies like a serious medical condition of your closest relative, final minute's urgency to cover college or school fees, wedding expenses could pop up at any point in time in our day-to-day life. In such circumstances, it is crucial for an individual to obtain a loan from a reliable source like the Money View. Now we shall discuss some of the astonishing features and advantages of an emergency loan.

A loan is considered eligible as an emergency loan unless the below-mentioned conditions are met.

Instant disbursal: ----- The entire loan amount should be disbursed within a stipulated period of time.

Minimum documentation process: ---- An emergency loan must comply with the submission of minimal documentation.

Highly secured and authentic: ----- The source from which you are planning to avail the personal loan should be authentic and reliable. Apart from that, it must adhere to the procedures.

Budget-friendly: ---- The interest rate along with additional charges should be reasonable and must not be a financial burden on an applicant.

What are the reasons behind applying for ...
... an emergency loan through Money View?

As we had discussed earlier, a personal loan is deemed eligible unless it complies with the above-mentioned conditions. Listed below are the reasons why Money View loans qualify as one of the leading online emergency loans.

A diverse range of loan amounts: ---- There involves flexibility while borrowing the amount according to your financial needs. Money View enables an applicant to borrow a loan amount starting from Rs. 10,000 to Rs. 5,00,000.

Lengthy repayment tenure: ---- No pressure is exerted on an applicant to repay the loan amount within a stipulated period of time. You do have the option to choose repayment tenure up to 5 years. This might be helpful in adjusting your monthly expenses as per the financial requirements.

Instant disbursement: ---- The whole loan amount is credited to your bank account within two hours of approval. This would make sure that the current emergency is taken care of at the earliest.
Budget-friendly rate of interest: ---- The rate of interest charged by Money View is as low as 1.33% per month. It implies a lower EMI's on the loan amount.

Paperless documentation process: ---- In urgent circumstances, it is not practical to visit each place to gather and submit relevant documents pertaining to the loan. Money Views emergency loan demands just three documents and to be uploaded in a digital format. The process could be easily carried out either through desktop PCs or smartphones. The entire procedure starting from documentation to repayment is executed digitally.

Approval of loans for lower credit score: --- As you know an emergency does not permit you to wait until the credit score improves. Money View is well aware of the fact that applicants might end up with a poor credit score due to various reasons. By taking this into consideration, Money View had launched an alternate credit model which would make sure that emergency loans are provided to individuals with a low credit score.

No need for a guarantor: --- The emergency loans offered by Money View do not require a guarantor or collateral security. All you need to do is to comply with our eligibility requirements and get qualified for approval. The loan amount will be immediately credited to your bank account within just a few hours.
Steps involved applying for an emergency loan through Money View
Money View is indeed one of the great options to apply for an emergency loan especially in a country like India. It is primarily due to the seamless application and disbursal process. Here at Money View, they would take into consideration the financial constraints of an applicant to ease the application process.

The initial step involves checking your eligibility requirements within two minutes through the official website of Money View. However, applicants are supposed to furnish few details.
Based on your eligibility, he/she does have the liberty to pick a custom loan amount along with repayment tenure catering to your financial requirements

Disclose your details and upload the essential documents through apps or the official website to validate them.
The final step deals with the disbursal of the loan amount into your bank account within two hours of approval

What is the rate of interest and additional charges levied by Money View while applying for an emergency loan?

At Money View, they provide a competitive rate of interest and other charges to remove the financial burden of paying EMI's soon after availing a loan.

Rate of interest
1.33% per month
Processing charges
2.5% to 6.0% of the approved loan amount
Loan foreclosure charges
Charges are not levied for prepayment after payment of regular EMI's for a period of three months

Part-pre payments are not permitted
Interest on overdue EMI's
2% per month on the overdue
Cheque bounce charges
Rs. 500
Cancellation of loan
Extra charges are not levied in addition to the interest amount for the duration between loan cancellation and disbursement of the loan. Even processing fees are retained as well.

Which are the circumstances to apply for an instant emergency loan?
Emergencies cannot be defined since the circumstances vary from one person to another. Some of them are as follows:-

Covering medical expenses
Bear the college or school fees
Traveling expenses
Vehicle maintenance expenses
Wedding expenses
Relocating expenses
Emergencies arising out of natural disasters
Paying EMI's on various other loans

If you are planning to apply for an emergency loan, then it is better to comply with the credit score requirement by maintaining a CIBIL score of 600 and an Experian score of 650.

Conclusion:
Applicants who intend to borrow an instant personal loan from Money View should furnish relevant documents with appropriate information. Besides, they must share valid information including PAN card details, Aadhar card without any flaws. This would ensure a smooth approval process.

Writer by day and reader by night, Saahil is a financial aficionado whose passion lies in simplifying complicated monetary jargon, dispelling money myths and helping readers make more informed decisions regarding all things wealth.