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MoneyWide Personal Loan

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Product Rating

4.4 /5

Total - 487 ratings

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284
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Location

PAN India

Approval and Disbursement

Same Day

Interest Rates

Interest rate 17% - 29.99%

Security

No Collateral Required

Loan Amount

Rs. 10,000 - 3,00,000

Tenure

6M/ 12M/ 18M/ 24M/ 30M/ 36M

Max FOIR

50-65% grid based

Required Salary

Minimum monthly salary should be Rs. 25,000/-

Processing Fees

3% to 3.5% of loan amount

Required Document

None - The entire process is Online and Paperless

You've seen it time and time again. Someone in your family or a friend has asked you for a personal loan and you end up repeating yourself. The conversations are generic, there's always friction and if it isn't one thing, it's the other. That's why we're here to change the way you loan money, with a single application process that's centered around your smartphone. 


MoneyWide is a no-frills digital lending platform. They have focused on lowering the number of pages that a borrower has to go through while taking a personal loan digitally and making it simpler, transparent, and hassle-free.  MoneyWide is backed by an in-house NBFC MyLoanCare Ventures Private Limited. We are a digital lender working to make the process of getting a personal loan easier and more efficient. Their team is made up of experts from the banking and technology sectors, with a combined 50 years of experience.

Before you run to apply for a personal loan at Money Wide, here are some things you need to know about our process:

Location

PAN India

Approval and Disbursement

Same Day

Interest Rates

Interest rate 17% - 29.99%

Security

No Collateral Required

Loan Amount

Rs. 10,000 - 3,00,000

Tenure

6M/ 12M/ 18M/ 24M/ 30M/ 36M

Max FOIR

50-65% grid based

Required Salary

Minimum monthly salary should be Rs. 25,000/-

Processing Fees

3% to 3.5% of loan amount

Required Document

None - The entire process is Online and Paperless

Eligibility Criteria

There are some key aspects and filters of the customer which are a necessity for us before sanctioning our personal loan. We understand the needs of each customer and try to portray the same by customizing our Loan terms and conditions with an objective to match his or her requirement.

Age

23 to 55 Years

Net Monthly Income

Rs. 25,000 and above

Current Work Experience

2 months and above

Total Work Experience

Minimum 2 years

Credit Score

650 or above

Other Requirements

Customer must have valid PAN, Net banking facility and Aadhar Card linked to mobile number

Salary Acceptance

The salary must be received through Bank Transfer (NEFT/ECS/CMS/IMPS).

Note: Only salaried employees including employees of Pvt. Ltd., Gov., proprietorship/ partnership/ LLP firms; those not registered/ opted out from EPFO are eligible.

Noteworthy Features

➔ Instant Loan Approval: AIP within 30 seconds and final approval within 3 minutes

Quick Disbursal: Same day disbursement in bank account

Easy Documentation: No physical residence or office verification; No salary slip/income document required

Full Flexibility: On click or in-app instant prepayment and foreclosure facility after 1st EMI.

Zero Paper: No physical or scanned documents. 100% e-KYC, e-sign, e-NACH

Zero CIBIL Consideration: Offering loan to 0/-1 Cibil Case

Let us take an example, How EMI is being calculated

For instance, if "Shubham" applies for a Personal loan of INR 3 Lacs and get the loan sanctioned at the rate of 15 % with a tenure range of 2 years or 24 Months , in such a case his EMI would be INR 14,546 and complete repayment amount till the end of 2 years tenure would be INR 3,49,104 (i.e 14,546 EMI * 24 months), wherein the total interest amount is INR 49,104 along with principal repayment of INR 3,00,000. Few additional charges like those of minimal one-time processing fee ranging from 2% to 3% of loan amount, pre-payment instant prepayment and foreclosure facility after 1st EMI. T& C apply.

Month Principal Outstanding Interest Total Payment Payment towards Principal Loan Paid Till Date Balance Principal
1 3,00,000.00 3,750.00 10,400.00 ₹ 6,650.00 ₹ 6,650.00 ₹ 2,93,350.00
2 2,93,350.00 3,667.00 10,400.00 ₹6,733.00 ₹13,383.00 ₹ 2,86,617.00
3 2,86,617.00 3,583.00 10,400.00 ₹ 6,817.00 ₹ 20,200.00 ₹ 2,79,800.00
4 2,79,800.00 3,498.00 10,400.00 ₹ 6,902.00 ₹ 27,102.00 ₹ 2,72,898.00
5 2,72,898.00 3,411.00 10,400.00 ₹ 6,989.00 ₹ 34,091.00 ₹ 2,65,909.00
6 2,65,909.00 3,324.00 10,400.00 ₹ 7,076.00 ₹ 41,167.00 ₹ 2,58,833.00
7 2,58,833.00 3,235.00 10,400.00 ₹ 7,165.00 ₹ 48,332.00 ₹ 2,51,668.00
8 2,51,668.00 3,146.00 10,400.00 ₹ 7,254.00 ₹ 55,586.00 ₹2,44,414.00
9 2,44,414.00 3,055.00 10,400.00 ₹7,345.00 ₹ 62,931.00 ₹ 2,37,069.00
10 2,37,069.00 2,963.00 10,400.00 ₹ 7,437.00 ₹ 70,368.00 ₹ 2,29,632.00
11 2,29,632.00 2,870.00 10,400.00 ₹ 7,530.00 ₹ 77,898.00 ₹ 2,22,102.00
12 2,22,102.00 2,776.00 10,400.00 ₹ 7,624.00 ₹85,522.00 ₹ 2,14,478.00
13 2,14,478.00 2,681.00 10,400.00 ₹7,719.00 ₹93,241.00 ₹ 2,06,759.00
14 2,06,759.00 2,584.00 10,400.00 ₹7,816.00 ₹ 1,01,057.00 ₹ 1,98,943.00
15 1,98,943.00 2,487.00 10,400.00 ₹ 7,913.00 ₹ 1,08,970.00 ₹ 1,91,030.00
16 1,91,030.00 2,388.00 10,400.00 ₹ 8,012.00 ₹ 1,16,982.00 ₹ 1,83,018.00
17 1,83,018.00 2,288.00 10,400.00 ₹ 8,112.00 ₹ 1,25,094.00 ₹ 1,74,906.00
18 1,74,906.00 2,186.00 10,400.00 ₹ 8,214.00 ₹ 1,33,308.00 ₹ 1,66,692.00
19 1,66,692.00 2,084.00 10,400.00 ₹ 8,316.00 ₹ 1,41,624.00 ₹ 1,58,376.00
20 1,58,376.00 1,980.00 10,400.00 ₹ 8,420.00 ₹1,50,044.00 ₹ 1,49,956.00
21 1,49,956.00 1,874.00 10,400.00 ₹ 8,526.00 ₹ 1,58,570.00 ₹1,41,430.00
22 1,41,430.00 1,768.00 10,400.00 ₹ 8,632.00 ₹ 1,67,202.00 ₹ 1,32,798.00
23 1,32,798.00 1,660.00 10,400.00 ₹ 8,740.00 ₹ 1,75,942.00 ₹ 1,24,058.00
24 1,24,058.00 1,551.00 10,400.00 ₹8,849.00 ₹ 1,84,791.00 ₹ 1,15,209.00
25 1,15,209.00 1,440.00 10,400.00 ₹ 8,960.00 ₹ 1,93,751.00 ₹1,06,249.00
26 1,06,249.00 1,328.00 10,400.00 ₹9,072.00 ₹ 2,02,823.00 ₹ 97,177.00
27 97,177.00 1,215.00 10,400.00 ₹ 9,185.00 ₹ 2,12,008.00 ₹ 87,992.00
28 87,992.00 1,100.00 10,400.00 ₹ 9,300.00 ₹ 2,21,308.00 ₹78,692.00
29 78,692.00 984.00 10,400.00 ₹ 9,416.00 ₹ 2,30,724.00 ₹ 69,276.00
30 69,276.00 866.00 10,400.00 ₹ 9,534.00 ₹2,40,258.00 ₹59,742.00
31 59,742.00 747.00 10,400.00 ₹ 9,653.00 ₹ 2,49,911.00 ₹ 50,089.00
32 50,089.00 626.00 10,400.00 ₹ 9,774.00 ₹ 2,59,685.00 ₹ 40,315.00
33 40,315.00 504.00 10,400.00 ₹ 9,896.00 ₹ 2,69,581.00 ₹ 30,419.00
34 30,419.00 380.00 10,400.00 ₹ 10,020.00 ₹ 2,79,601.00 ₹ 20,399.00
35 20,399.00 255.00 10,400.00 ₹ 10,145.00 ₹ 2,89,746.00 ₹ 10,254.00
36 10,254.00 146.00 10,400.00 ₹ 10,254.00 ₹ 3,00,000.00 -

FREQUENTLY ASKED QUESTIONS

Have a question? We've got answers!

MoneyWide's personal loan benefit is that you have the freedom to request an amount of your choice. Our lenders can give you a quick loan approval as well as an instant decision, so you don't need to wait for long hours just to get your personal loan approved. The other great thing about us is that we assist our clients with the most convenient and hassle-free application process, which includes no paperwork and Instant Loan Only. Our friendly lenders offer you low-interest rates on your personal loan.

No, Unfortunately, MoneyWide does not allow you to transfer an outstanding balance from another bank account to your MoneyWide account.

The lowest personal loan rates from MoneyWide start at 16.50% p.a., but that rate depends on the amount you want to borrow and how long you want to take to pay it back.

Yes, MoneyWide charges a fee of 3% of the part payment after 1st EMI on personal loans.

Yes, you can foreclose your loan at Money Wide, whereas you will be asked to pay a certain amount of charge for it.

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