Best Personal Loan App in India - Get money from â¹3,000 to â¹5,00,000 and pay interest on the exact amount you withdraw from your MoneyTap balanceGet an instant personal loan online with zero collateral. Interest rates starting from as low as 13% pa* for 3 to 36 months. We offer you the benefits of an easy personal loan and credit card combined.â
For salaried employees only! Minimum salary = â¹30,000 per month.FeesFor â¹1,00,000 borrowed for 1 year, with interest rate @13% per annum*, a user would pay:-> Processing fee (@ 2%) = â¹2,000 + GST = â¹2,360-> (Line setup fee of â¹499+GST = â¹588/- to be paid before starting the credit line)-> Interest = â¹7,181-> EMI = â¹8,932Total amount to be repaid after a year = â¹1,10,129/-*Interest Rate varies based on your risk profileThe maximum Annual Interest Rate can go up to 36% (However, only a fraction of our customers get an interest rate higher than 30% pa)We are Indiaâs 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 â¹5,00,000 but doesnât borrow any money for the next 5 months.In May, he withdrew â¹50,000 from his credit limit to pay for a house deposit. Now, the interest will only be charged on â¹50,000. Siddharth still has access to â¹4,50,000 whenever he has another emergency without paying any interest on it until he withdraws any amount.What features make MoneyTap convenient?â 100% paperless process, no bank visitsâ You can use any amount from your available credit lineâ Make UPI transactions directly from your Credit LineEligibilityâ Minimum salary: in-hand salary of â¹30,000/monthâ Minimum age: 23 years or above and below 55 yrs Documents requiredâ Aadhaar numberâ Identity proof (Driving license/Voter id/Passport/Aadhaar/PAN)â Address proof (Driving license/Voter id/Passport/Aadhaar/Utility bills/bank statements)â Original passport photo/selfieâ You can get an instant personal loan online on Aadhaar card. E-sign your application with registered mobile OTP for fast-track applicationHow does MoneyTap work?Get an instant loan in 4 simple steps:â Apply on the app and get approved in 4 minutes, create your profile, fill basic information such as age, city, PAN, & income to check eligibilityâ Instantly find out your pre-approved amountâ Complete KYC verificationâ Transfer money to the bank account from the approved amountAvailable in 40+ cities. Check the list hereMoneyTap Personal Loan Usesâ 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 loanâ Borrow money to pay your rental deposit, monthly bills, or lend it to friends as emergency cashâ Consider it an early salary loan Bonus: MoneyTap RBL credit cardâ 100% cash withdrawal from your credit card onlineâ 50-days interest-free periodSecurity & Protection of PrivacyData 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 bankâs IT team.Whatâs New?Credit on UPI (cUPI) is a feature that allows customers to use their MoneyTap Credit Line to pay for online & offline transactions seamlessly via UPI. Customers can create a UPI handle on the MoneyTap app and link it to their MoneyTap account to transact directly from their approved credit line.This feature uses SMS services to verify accounts for financial transactions through OTP.Download MoneyTap now!