MoneyTap Personal Loan: How to get loan from MoneyTap app? Interest rates, features and method of application

Are you looking for a loan but don’t want to go through the hassle of paperwork? MoneyTap Personal Loan provides an alternative solution that enables people to get the money they need quickly and securely.

In this article, we will learn how MoneyTap Personal Loan works and how it can provide a better loan experience without the hassle of traditional banking.

MoneyTap Personal Loan Highlights

Rate of interestStarting from 1.08%
loan amountup to Rs 5 lakh
processing feeUpto 2% + GST
loan periodup to 3 years

MoneyTap Personal Loan

First of all we need to know what MoneyTap is? Friends, MoneyTap (MoneyTap) is an online lending platform that provides personal loans to individuals in India. MoneyTap offers you instant personal loans up to Rs 5 lakh with no collateral required.

You can use the loan amount for your various needs like getting married, going on a vacation, paying medical bills, buying gadgets, etc.

MoneyTap Personal Loan Interest Rates

MoneyTap Personal Loan interest rates typically start from 1.08% per month or 12.96%% per annum. These rates are very competitive rates compared to other lenders in the market. However, this interest rate may vary depending on your credit score, income, repayment history, existing loan etc.

MoneyTap Personal Loan EMI Calculator

MoneyTap Personal Loan EMI Calculator is a simple and convenient way to calculate your EMI. You just need to enter your loan amount, loan tenure and interest rate. The calculator will give you an estimate of your monthly payment amount (EMI). You can use this information to plan your finances and decide about your personal loan.

Features and Benefits of MoneyTap Personal Loan

MoneyTap Personal Loan has some of its own features and benefits, which are given below:

  • Instant Approval: The approval process for MoneyTap Personal Loan is very fast as it is an online app and completely digital.
  • Attractive Interest Rates:MoneyTap offers some of the most competitive interest rates on its personal loans, starting at just 1.08% per month.
  • More Loan Amount: With MoneyTap App, you can avail loan amount of minimum Rs 3,000 and maximum Rs 5 lakh. You can use this loan amount to meet your personal needs.
  • Flexible Payment Term: MoneyTap offers you payment tenures of 2 to 36 months. The loan EMI will depend on the loan tenure chosen by you.
  • Interest only on funds withdrawn:MoneyTap charges interest rates on the loan amount you withdraw and not on the total loan amount sanctioned by you.
  • No collateral required: You do not need to pledge any collateral to avail a MoneyTap Personal Loan.

Types of MoneyTap Personal Loan

MoneyTap offers different types of loans as per the needs of different individuals which are listed below:

  • Marriage: No one knows when and where your expenses may increase during marriage. In these situations MoneyTap provides you instant loan.
  • Home Renovation: During your home renovation, expenses may exceed your estimated budget. So in such a situation you can get an instant loan from MoneyTap.
  • Medical Emergencies: You may need extra cash in case of a medical emergency. so in such a situationmoneytap Helps in getting instant loan without any delay.
  • Mobile Loan: If you want to buy a new mobile phone, you can do so instantly with MoneyTap Mobile Loan.
  • Laptop Loan: Through MoneyTap Laptop Loan you can get financing for the laptop model you want to buy.
  • vehicle repair: If something breaks down with your vehicle and you do not have the funds available to get it repaired, you can manage the repair expenses of your vehicle through a MoneyTap loan.
  • Travel Loan: Sometimes, you may need some extra cash just to get around. You can use your Moneytap Credit Line to manage your expenses.

Note: MoneyTap The money taken by the App is not limited to the expenses listed here only. You can use it for any type of expenditure during emergencies.

Eligibility Criteria for MoneyTap Personal Loan

To apply for a loan through MoneyTap, customers must meet the following eligibility criteria:

  • age: The age of the applicant should be minimum 23 years and maximum 55 years.
  • Income: The monthly income of the person should be at least Rs 20,000.
  • employment: Salaried employees and self-employed individuals like business owners, lawyers, doctors, shop owners etc. can avail this loan.

Note: This loan facility is currently available only in select cities like Mumbai (Thane, Mumbai and Navi Mumbai), Delhi NCR (Gurgaon, Faridabad, Ghaziabad, New Delhi, Noida, Delhi, Greater Noida), Chennai, Hyderabad, Pune, Secunderabad.

Documents required for MoneyTap Personal Loan

While applying for MoneyTap loan, you need to provide some important documents which are given below:

  • PAN card number.
  • ID proof (any one : Passport, Voter ID Card, Driving License, Aadhar Card etc.
  • Address Proof (Any One): Ration Card, Electricity Bill, Passport, Driving License, Aadhar Card, Voter ID Card etc.
  • Income Ratio: Salary Slip, Form 16, Certified P&L Statement/Balance Sheet, etc.

How to apply for MoneyTap Personal Loan?

To apply for a personal loan from MoneyTap, you can follow the steps given below:

  • download app: first of all youGoogle PlayStore Install MoneyTap App from. After that open the app and provide some minor information about yourself. The app will then check your eligibility and tell you whether you can take a loan from MoneyTap or not. If you are eligible to take a loan from MoneyTap, the app will tell you a credit limit that you can avail.
  • Complete your KYC: Now you have to complete the KYC process. To do this, a MoneyTap agent on behalf of the partner bank will come to you to collect the necessary documents for processing.
  • receive money: Once your KYC is completed and your loan is approved, you will get your MoneyTap Card. This card not only acts as a credit card but you can also use it to withdraw money from your MoneyTap account.

How to Login on MoneyTap App Portal

You can follow the following steps after installing the MoneyTap app on your phone:

  • Phase 1: Open the app Click on “Sign in on MoneyTap” button.
  • Phase 2: Now log in to the app using your Google or Facebook (ID/Password).

MoneyTap Customer Care Number

You can send MoneyTap an email at hello@moneytap.com for all your queries and issues.

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