VIVA Money is a personal loan app providing users with an instant personal line of credit of up to ₹2 lakhs. The platform allows individuals to access financial support quickly and easily, without the need for traditional paperwork. With interest-free credit periods of up to 51 days and flexible repayment options, VIVA Money is designed to provide a simple and user-friendly experience for borrowers looking for short-term financial solutions in India.
VIVA Money is a personal loan platform offering quick, secure, and flexible credit lines of up to ₹2,00,000, with 0% interest for the first 51 days, instant approval, and fully digital processes for applications, KYC, and repayments. Viva Money loans are available in Maharashtra, Gujarat & Karnataka.
Highlights of VIVA Money Personal Loan
Here’s a table that highlights the key features of VIVA Money:
| Highlight | Details |
|---|---|
| Credit Limit | Up to ₹2,00,000 |
| Interest-Free Period | 0% interest for up to 51 days |
| Repayment Options | EMI options ranging from 5 to 20 months |
| Approval Time | Get instant approval in less than 15 minutes |
| Application Process | 100% digital, with no paperwork involved |
| Direct Bank Transfer | Funds are transferred directly to your bank account |
| Processing Fee | ₹500 or up to 3% of the approved credit limit |
*note that the loan approval time, interest rate & other loan terms can vary as per the lender’s discretion. Contact the lender for further details.
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VIVA Money Interest Rate & Charges
Here’s a summary of the interest rates and charges for VIVA Money:
| Charges | Details |
|---|---|
| Interest Rate | 0% if repaid within the grace period (up to 51 days). 3% to 3.3% per EMI if repaid after the grace period. |
| Processing Fee | ₹500 or up to 3% of the approved credit limit. |
| Repayment Term (EMI) | 5 months: No extra charge 10 months: ₹999 charge 20 months: ₹1,499 charge |
| Early Repayment Fee | 4% on the early repayment amount. Minimum repayment ₹10,000 |
Note: The interest rate is subject to change as per the creditworthiness of the applicant.
Features & Benefits of VIVA Money
VIVA Money offers a range of features and benefits designed to make borrowing simple, flexible, and convenient. Below is a detailed look at the key features that make VIVA Money a popular choice for personal loans:
- Single Credit Line, Countless Loans: Users apply for a credit line once and can access it multiple times without needing to reapply. This flexibility allows for repeated use of the approved credit limit.
- One-Time Processing Fee: VIVA Money charges a one-time processing fee for the approved credit line, meaning users don’t have to pay additional fees when they utilize the credit in the future.
- No Collateral or Guarantors: The platform does not require any collateral or guarantors for credit approval, making it easy for individuals to secure a loan.
- Attractive Interest Rates: VIVA Money offers competitive interest rates, ensuring that users can borrow without excessive financial strain.
- Multiple Repayment Options: Borrowers can choose from various repayment terms, ranging from 5 to 20 months, making it easier to tailor repayments based on individual financial situations.
- Instant Fund Transfer: Once approved, funds are transferred instantly to the user’s bank account, with the entire process taking less than 15 minutes.
VIVA Money Personal Loan Eligibility
To qualify for a personal line of credit from VIVA Money, applicants need to meet the following criteria:
- Age Requirement: Applicants must be Indian citizens between the ages of 21 and 64 years.
- Income Requirement:
- Individual monthly income must be at least ₹15,000.
- Alternatively, household income must total ₹25,000 or more per month.
- Employment Status: Applicants must have a verified source of income, whether as a full-time, part-time, or self-employed professional.
VIVA Money Personal Loan EMI Calculator
VIVA Money provides a convenient Personal Loan EMI Calculator that helps borrowers estimate their monthly installment payments based on the loan amount and repayment tenure they choose. This tool is designed to help users plan their finances by giving them an instant view of their expected EMI obligations.
Your Amortization Schedule (Yearly/Monthly)
Steps to Use VIVA Money EMI Calculator
- Choose Your Credit Limit: Adjust the slider or manually input the loan amount you wish to borrow (between ₹5,000 and ₹2,00,000).
- Select Loan Term: Choose your desired repayment period. Options include: 5 months, 10 months and 20 months
- Review Your EMI: Once you have selected the loan amount and tenure, the calculator will automatically display your estimated monthly installment (EMI).
- Apply: If satisfied with the EMI calculation, click on the “Apply” button to proceed with your loan application.
This calculator makes it easier for users to decide on a loan amount and repayment period that fits within their budget. It assumes full withdrawal of the credit limit in one go.
Documents Required for VIVA Money Personal Loan
To apply for a personal loan or line of credit through VIVA Money, the documentation process is minimal and fully digital, ensuring a quick and secure process. Here are the documents you’ll need:
- Identity Proof: PAN Card is required for identity verification.
- Address Proof: Use your Aadhaar Card number to verify your address.
Photograph: A selfie or a recent digital photograph for personal identification.
Steps to Apply for VIVA Money Personal Loan
Applying for a credit line with VIVA Money is a simple, fully digital process. Here are the steps to apply:
- Download the VIVA Money App: Available on both Google Play Store and Apple App Store. Once downloaded, sign up using your mobile number.
- Apply for Credit Line: Select the desired credit limit by using the slider, which ranges from ₹5,000 to ₹2,00,000. You can choose to spend any portion of this limit every month. Click Apply after confirming the credit limit.
- KYC Verification and Digital Contract Signing: Complete your KYC by taking a selfie and submitting your PAN and Aadhaar details. You can also opt for a quick video call to verify your details. The entire process is paperless, and once done, you can digitally sign the loan agreement.
- Start Withdrawing: Once approved, you can withdraw the required amount. Select the loan amount and repayment term (5, 10, or 20 months). The funds are transferred directly to your bank account.
- Easy Repayments: You have the option to repay the money within the grace period to avoid interest. Alternatively, you can repay in EMIs (5, 10, or 20 months). The grace period ensures flexibility in managing your repayments.
VIVA Money Contact Details
You can reach VIVA Money’s team through the following contact channels:
- General Support Email: For any inquiries, you can send an email to chat@VIVAmoney.in.
- Media Relations: If you have media-related queries, contact their media team at hello@VIVAmoney.in.
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