MoneyTap Loan

Money Tap has certainly upped the ante in the micro-finance space. Their mobile loans have a streamlined approval process and are wired to your account within a day. Whether you’re looking to finance a new car, remodel your kitchen, or just make a well-deserved family getaway, MoneyTap has a loan that’s perfect for you. They’re available in more than 40 cities across the country. As one of the few digital banks in India, MoneyTap is on the cutting edge of mobile technology.

For the budget conscious, a low-interest rate loan may be the only way to go. While not all lenders offer the same rate of interest, Money Tap has found a happy medium that allows them to offer affordable finance options to borrowers. A few key factors are important in deciding what loan is right for you. Fortunately, Money Tap has a team of loan specialists who are committed to making your experience a breeze. This includes a dedicated customer service team to help you along the way. To get started, simply visit their website and request a loan. Alternatively, you can also visit their office in Mumbai, Delhi, Kolkata, Pune, or Bangalore. With a few quick clicks, you’ll be on your way to an enjoyable and hassle-free loan experience.

Repayment tenure

Money Tap Loan is a convenient way to borrow cash and repay it over a period of time. The loan interest rate is fixed, and the loan tenure is set as per the customer’s needs. Using the app, borrowers can choose to pay it in two months, three years or even a lifetime.

It is a good idea to take a look at your monthly expenses and income, before selecting a loan repayment period. This will help you estimate the amount you have to repay for EMIs. You can also get a good idea of the interest rates.

Money Tap offers small to medium loans at affordable rates. However, the exact interest will depend on a variety of factors, including defaults, cheque bounces, and the credit profile of the applicant.

When applying for a Money Tap personal loan, a borrower must provide identification proof such as their PAN card, and address proof. Applicants must also have an average monthly income of at least Rs. 20,000. In addition, the borrower must have a registered bank account.

After submitting the application form, a representative from MoneyTap will contact you to verify your eligibility. Once you are approved, you will receive an OTP with a download link to the MoneyTap application.

As soon as you have the MoneyTap application installed, you can apply for a loan. Your details will be verified in real time and you will be contacted by a MoneyTap loan executive to further process your application.

MoneyTap has a wide network of 40 cities in India. There are different kinds of loans available, such as short-term credits, long-term online loans, and credit lines.

Choosing a personal loan with a longer repayment period is beneficial if you are not able to afford the higher EMIs. On the other hand, choosing a shorter tenure is better if you can afford the higher EMIs.

Money Tap is a popular app-based lender in India. Founded by Bala Parthasarthy and Armaan Parthasarthy, the company has a strong commitment to financial literacy in India. Whether you are looking for a loan for a wedding or for home improvement, MoneyTap has something for you.

Interest rate

The interest rate of Moneytap loan in India depends on the amount borrowed, client’s credit rating, and the tenure selected to repay the money. In some cases, the interest is as low as 1%. However, the interest rate will be higher in some cases.

Moneytap is an app-based personal loan provider that is designed for the middle class. It offers flexible loan tenures and paperless personal loans to its customers. Compared to the usual Indian banks, it is easier to get approved and it provides better services.

This lender was founded in 2014 with the intention of addressing the credit sourcing issues of the middle class. They raised funds from Bala Parthasarathy’s Prime Venture Partners and Sequoia Capital India. Since their second round of funding, they’ve added new investors such as Nimble Wireless and HackerEarth.

Moneytap was launched with the aim of delivering the same benefits that credit cards offer, such as a low interest rate, flexible EMI options and a long-term line of credit. Unlike credit cards, though, Moneytap does not require any collateral for its line of credit.

Besides offering a long-term line of credit, Moneytap also charges a 2% processing fee on all withdrawn funds. Moreover, the company charges a late payment penalty of up to 15% on the amount due.

As of now, Moneytap is available only in select cities in India. These include Delhi NCR, Mumbai, and Greater Noida. Customers are eligible for a personal loan of up to 5 lakh. But only those who are aged 23 and above are allowed to apply for a Moneytap loan.

Users can download the Moneytap app and borrow up to five lakh rupees. It is a good option for those who need to meet emergency expenses or make a purchase.

Unlike most of the Indian banks, Moneytap’s interest rate is very competitive. Depending on the credit score and the tenure of the loan, the interest rates can range from 1.5 to 2.5 percent a month.

Whether you’re planning a holiday, a wedding, or an education loan, Moneytap can help you with your finances. All you need is a smartphone and the Moneytap app.

Eligibility

If you want to apply for a personal loan, you can do it easily using the Moneytap application. This online loan provider has introduced several loan options for its customers. It has also launched a travel loan that can help you plan your grand vacation.

To apply for a Moneytap loan, you need to meet certain eligibility requirements. Applicants must have a monthly income of at least Rs. 20,000 and should not be 55 years old. They are also required to have a valid bank account. Depending on your credit history and repayment history, the interest rate will vary.

Moreover, to qualify for the loan, you must be a resident of India. You can also get a loan if you are working as a self-employed professional or own a business. However, you must have been in business for at least three years.

Before applying for the loan, you must create a Moneytap account. Once you have done this, you can go to the official website of the company. From there, you can download the app. Using the app, you can know your credit limit and how much you can borrow. The maximum limit available is up to five lakhs.

For applying for a personal loan through the Moneytap application, you must have a valid Pan Card. You can even provide a valid Driving License. In addition, you must be a citizen of India.

Moneytap has set up a partnership with leading banks in the country. This is why you will get the loan at a very low interest rate. At the same time, you will have a very flexible tenure to repay the loan. Depending on your credit profile and repayment history, the interest rate can range between 13% and 18%.

If you need money for any emergency, you can take a moneytap loan. Whether you need to pay off medical expenses, book a flight, or pay for a marriage function, you can do so with ease. As a bonus, you can also enjoy 100% cash back on all purchases.