✅ For salaried employees only! Minimum salary = ₹30,000 per month
|Updated||Jul 14, 2020 (4 weeks ago)|
|Developer||MoneyTap - Asia's 1st Credit Line App|
Best Personal Loan App in India - Get money from ₹3,000 to ₹5,00,000 and pay interest on the exact amount you withdraw from your MoneyTap balance
Get an instant personal loan online with zero collateral. Interest rates starting from as low as 13% per year for 3 to 36 months. We offer you the benefits of an easy personal loan and credit card combined.
✅For salaried employees only! Minimum salary = ₹30,000 per month.
For ₹1,00,000 borrowed for 1 year, with interest rate @ 13% per annum*, a user would pay:
-> Processing fee (@ 2%) = ₹2,000 + GST = ₹2,360
-> (Line setup fee of ₹499+GST = ₹588/- to be paid before starting the credit line)
-> Interest = ₹7,181
-> EMI = ₹8,932
Total amount to be repaid after a year = ₹1,10,129/-
*Interest Rate varies
We are India’s first credit line based instant loan app in partnership with leading banks and NBFCs.
How is MoneyTap different from any other traditional personal loan app in India?
The best feature of MoneyTap Loan is that you pay the interest only for the amount that you borrow.
Example: Siddharth applies for a MoneyTap Loan (credit line) in January, gets an approved credit line of ₹5,00,000 but doesn’t borrow any money for the next 5 months.
In the month of May, Siddharth withdrew ₹50,000 from his credit limit to pay for a house deposit. Now, the interest will only be charged on ₹50,000. He can then pay this amount back using the flexible EMI options between 3-36 months. Siddharth still has access to ₹4,50,000 whenever he has another emergency but won’t have to pay the interest on this amount unless he transfers it to his bank account.
What features make MoneyTap convenient?
✔ Our credit line gives you instant loans online in a 100% paperless process, no bank visits
✔ Once your credit line is disbursed by us, you can use any amount from your available credit line
MoneyTap, the most trusted Loan App
- Received 10 million+ installs on Google Play Store
- Awarded the ‘Best Innovative Lending Product/Service’ by IAMAI
- Included in INC42's 50 most innovative startups of 2018 list
● Minimum salary: in-hand salary of ₹30,000/month
● Minimum age: 23 years or above and below 55 yrs
● Aadhaar number
● Identity proof (Driving license/Voter id/Passport/Aadhaar/PAN)
● Address proof (Driving license/Voter id/Passport/Aadhaar/Utility bills/bank statements)
● Original passport photo/selfie
● You can get an instant personal loan online on Aadhaar card. E-sign your application with registered mobile OTP for fast-track application
How does MoneyTap work?
Get an instant loan in 4 simple steps:
● Apply on the app and get approved in 4 minutes, create your profile, fill basic information such as age, city, PAN, & income to check eligibility
● Instantly find out your pre-approved amount
● Complete KYC verification after finishing your online application
● Transfer money to the bank account from the approved amount
Available in 40+ cities. Check the list here
MoneyTap Personal Loan Uses
● Phone pe loan - use it as an urgent personal loan, education, medical, wedding, home renovation, mobile, used car, bike or two-wheeler loan, or travel loan
● Borrow money to pay your rental deposit, monthly bills, or lend it to friends as emergency cash
● Buy home appliances, furniture, and electronics by transferring money from one of the fastest instant cash loan online
● Consider it an early salary loan
Bonus: MoneyTap credit line credit card for RBL approved customers
● 100% cash withdrawal from your credit card online
● 50-days interest-free period
Security & Protection of Privacy
Data security & privacy is a top priority at MoneyTap. Our backend APIs comply with mandated security standards and robust protocols which have been tested and certified by our partner bank’s IT team.
Download MoneyTap app now!
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