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|
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, buy a mobile phone, and pay electric bills & more.
More than 10 million people use this app. You can apply for a loan from MoneyTap.
MoneyTap Instant Loan Features & Benefits
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 offering instant personal loans with minimum documents.
Easy Repayment: you can choose log tenure for your loan repayment. MoneyTap provides 2-36 months loan repayment tenure.
Low-Interest Rate: some banks take a 20-30% interest rate for a personal loan. But, MoneyTap taking 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% that 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 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.
Recommended Read: Get Instant 5 Lakh Loan
How much Loan amount gets from MoneyTap
MoneyTap offering Rs. 3000 to 5 lakh loan amount. It’s based on your salary, credit history. If you have a good cibil score, proper required documents, you will get a higher amount loan from MoneyTap.
Which Type Loan MoneyTap Offer
- Marriage Loan
- Travel Loan
- Medical Loan
- Education Loan
- Used Car Loan
- Two-Wheelar Loan
- Laptop Loan
- Mobile Loan
- Home Renovation Loan
- Consumer Durable Loan
- Debt Consolidation Loan
- Used Two-Wheelar 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.
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