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MoneyWide India offers personal loans starting at 17% p.a. for loan amounts up to Rs 3 lakh and terms up to 3 years. It also provides loans to selected MoneyWide customers.
|Personal Lone Banks||Interest Rate||Processing Fee||Rating||Lone Amount/ Tenure|
|17% -32%||Up to 3.75%||4.5||Up to ₹3LTenure(Up to 3 Years)|
You gain access to the following features and advantages when you obtain a loan from MoneyWide:
MoneyWide is a fintech platform owned and operated by MyLoanCare Ventures Private Limited that was introduced in 2022. Incorporated in 2014, MyLoanCare is an NBFC registered with the RBI. MyLoanCare began as a neutral bank platform with a strong reputation for offering digital financial services to a sizable customer base. It offered well-known digital discounts on mortgages, auto loans, personal loans, and other financial products from more than 30 Indian banks and NBFCs.
The NBFC reached the landmark of serving 3 million registered customers, adding another triumph feather to its sash. With a 4.5 out of 5 customer rating, it became one of the biggest online financial markets.
It is now prepared to begin its new journey as MoneyWide, providing distinctive, practical, yet transparent loan options. It was ranked as the fourth-largest lending marketplace from 2014 to 2019. It changed from a financial banking company with PB Fintech investments in 2020 to a non-banking financial company in 2021. It is highly known for providing personal loans at attractive rates starting from 17% onwards. Individuals with no financial history and credit rating can also secure MoneyWide personal loans.
To get a MoneyWide personal loan with utmost ease, adhere to the following eligibility criteria:
Eligibility Criteria for Quick Personal Loan category
Eligibility Criteria for MW First Personal Loan
MoneyWide caters to a versatile customer base with different types of personal loans to meet urgent fund requirements. It includes personal loans, instant personal loans and MW First program. The aim is to provide a personal loan with minimal documents within the same day. The MoneyWide personal loan interest rates range from 17% to 29% per the borrower's creditworthiness. The interest rates for MQ First Program start from 29% as they fall in the high-risk category.
The following factors affect the MoneyWide personal loan interest rates:
While applying for a MoneyWide personal loan, be prepared to pay the following fees and charges:
|Interest Rate||17% to 32%|
|Processing Charges||3.75% of the approved loan amount|
|Partial Prepayment Charges||4% of the prepayment amount (at maximum)|
|Foreclosure Charges||4% of the principal loan amount remaining|
You must provide specific documents to get approval for a MoneyWide personal loan with utmost ease. Preparing the required set of documents beforehand fastens the entire MoneyWide loan process.
|Identity Proof Documents||
|Residence Proof Documents||
|Documents associated with Age Proof||
If you are a salaried individual, you will also need salary slips, bank account statements, and Form 16.
For self-employed applicants, lenders will ask for business income proof, business continuity proof, and proof of ownership.
In MoneyWide, the borrower gets the option to repay the borrowed amount within 36 months as per their convenience as well as repayment capabilities. But you can determine the monthly EMI you will have to pay against the borrowed amount through the EMI calculation formula.Additionally, you can count on Urban Money's EMI calculator to determine the monthly repayment amount.
To perform the computation manually, deploy the following formula:
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
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