MoneyTap Instant Loan: Get up to @ 5 Lakh Loan

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
Approval Process	Online
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

1. Pan Card
2. ID Proof: Driving License/ Valid Passport/ Voter ID/ Aadhaar Card.
3. Address Proof: Driving License/ Valid Passport/ Aadhaar Card.
4. Selfe Picture: The picture will be taken from the MoneyTap app.
5. Company name, Salary slip & Email address for a salaried employee.
6. 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

How to apply for MoneyTap Instant Loan? 

Apply for a MoneyTap personal loan with step by step process:

Step 1 Download & Install the MoneyTap app from the play store. If you are an IOS user, you can follow this link.

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

FAQs of MoneyTap Instant Loan