MoneyTap offers instant loans across India. You can get up to a 5 lakh loan from MoneyTap. You need minimum documents to apply for the loan.
It’s taking 24 hours to get the loan. And all process is fully online-based. You can apply from home.
Let’s check about MoneyTap Instant Loan.
MoneyTap Instant Loan Quick Recap
|Interest rate||13-18% per annum|
|Loan Amount||From 3000 to 5 lakh|
|Loan Tenure||A minimum of 2 months and a maximum of 36 months are required.|
|Eligibility Age||23 years to 55 years|
|Source of Income||Salaried Person or Self Employed|
|Monthly Income||Rs. 20,000 per month|
|Processing Fees||2% of Loan Amount|
Also Read: RBL MoneyTap Credit Card
What is MoneyTap?
MoneyTap is an app-based loan. You can get from 3000 to 5 lakh loans from MoneyTap. Get an instant personal loan from MoneyTap for various needs like medical expenses, buying a mobile phone, and pay electric bills & more.
More than 10 million people use this app. You can apply for a loan from MoneyTap.
Benefits of MoneyTap Instant Loan
Easy Approval: you will get the loan approval within a minute. MoneyTap is a fully online-based platform. Just upload your documents and get the loan to your bank account.
Minimum Documents Required: If you go to a bank and apply for a personal loan, you have to submit different types of documents. But MoneyTap offers instant personal loans with minimum documents.
Easy Repayment: you can choose log tenure for your loan repayment. MoneyTap provides 2-36 months of loan repayment tenure.
Low-Interest Rate: some banks take a 20-30% interest rate for a personal loan. But, MoneyTap takes 1.08% per month. This is a low-interest rate.
MoneyTap Interest Rates, Fees, and Charges
|Interest rate||13% to 18% per annum|
|Processing fee||3,000 – 199 + GST 5, 000 – 399+ GST 10,000 – 499 + GST 25,000 and above – 2% of borrowed amount + GST|
|Minimum Loan Tenure||2 month|
|Maximum Loan Tenure||36 month|
|Late payment fee||15% can be between Rs.350 to 1000.|
MoneyTap Personal Loan Eligibility Criteria
- You must be self-employed or a salaried employee.
- Your minimum age should be 23 & the maximum age should be 55 years.
- Income should be a minimum of Rs. 20,000/month.
- A salaried individual should have a minimum of 6 months of experience in the same position and a total of 2 years of work experience.
- A self-employed individual should have been in business for at least 3 years and have 3 years of work experience.
- You should live in one of the following cities:
Documents Required for MoneyTap Personal Loan
- Pan Card
- ID Proof: Driving License/ Valid Passport/ Voter ID/ Aadhaar Card.
- Address Proof: Driving License/ Valid Passport/ Aadhaar Card.
- Selfe Picture: The picture will be taken from the MoneyTap app.
- Company name, Salary slip & Email address for a salaried employee.
- Trade License, IT file for Self Employed.
Also Read: Top 7 loan app in India
How much Loan amount gets from MoneyTap
MoneyTap offers Rs. 3000 to 5 lakh loan amount. It’s based on your salary and credit history. If you have a good cibil score, and proper required documents, you will get a higher amount of loan from MoneyTap.
Which Type Loan MoneyTap Offer
- Marriage Loan
- Travel Loan
- Medical Loan
- Education Loan
- Used Car Loan
- Two-Wheeler Loan
- Laptop Loan
- Mobile Loan
- Home Renovation Loan
- Consumer Durable Loan
- Debt Consolidation Loan
- Used Two-Wheeler Loan
How to apply for MoneyTap Instant Loan?
Apply for a MoneyTap personal loan with step by step process:
Step 2 Open the MoneyTap app & Sign in through your Gmail or Facebook account. Also, you need to verify through mobile no.
Step 3 Allow location permission. After that, you need to fill up basic details.
Step 4 Fill in your Name, Address, Date of Birth & basic details.
Step 5 After that you need to fill up your Employment details. Select your employee time Full time, part-time, or contract. Enter your Job Type like Self employed, Student, Homemaker, or Retailed.
Step 6 Fill in your Employment details correctly and click on submit button.
Step 7 Give your account Details that are used for your business or salary.
Step 8 Now, click on Final Eligibility Check & give work details.
Step 9 Fill in current addresses, job duration & work experience.
Step 10 After submitting all the details, MoneyTap will verify through a phone call. And after that, you will be eligible to get the loan.
Also Read: Jaldi Paisa Personal Loan
MoneyTap Customer Care
MoneyTap does not provide any customer care no. But if you have any queries, you can mail them directly.
Email ID: [email protected]moneytap.com