Friends, today how can we take loan from MoneyTap? We are going to discuss it in detail and in this article you will get all your questions regarding MoneyTap. So let’s start, how to take loan from MoneyTap?
What is moneytap?
There are several personal loan apps in India and one of them is MoneyTap. It is a mobile and web-based platform digitally designed to provide instant personal loans with minimal documentation. You can get credit approved on this app within minutes.
Along with instant credit, the application also provides 24*7 customer care services 365 days a year and offers various products, such as cash loans, salary advances, and instant loans, making it a popular option for instant personal loan borrowers. Is. An easy solution to loans for everyone, getting credit through the app has the following advantages:
- Instant approval within minutes.
- Pre-qualified personal loan offer
- Supplementary MoneyTap-RBL Credit Card.
- Interest charged on the amount utilized.
Moneytap review
MoneyTap is an app-based line of credit that allows you to borrow and pay off your debts flexibly.
MoneyTap is offered for personal loans ranging from Rs.3000 to Rs.5 lakh. MoneyTap Personal Loan is easy to apply for online and can be used for various personal needs like getting married, going on a holiday, paying medical bills, buying gadgets, etc.
MoneyTap Loan App Features
| Criteria | Details |
|---|---|
| Interest Rate | 1.08% per month or 36% per annum |
| Loan Amount | Rs. 3,000 to Rs. 5,00,000 |
| Loan Tenure | Minimum 2 months, Maximum 36 months |
| Applicant Age | 23 years to 55 years |
| Minimum Monthly Income | Rs. 30,000 for both salaried & self-employed |
Types of MoneyTap Personal Loan
How to apply loan from MoneyTap? After answering this question, you should know what are the types of MoneyTap Loan? Loan types of MoneyTap in Hindi
MoneyTap offers a variety of personal loans easily accessible to customers from anywhere at any time. Here are the types of MoneyTap Loans:
Wedding Loan: A wedding loan from MoneyTap can be used to cover important wedding expenses such as jewellery, venue, guest accommodation, wedding invitations etc., allowing you to manage any financial constraints with ease .
Medical Loan: In the event of a medical emergency, you will need money to cover several medical treatments, medicines, hospitalization and other expenses. With MoneyTap Medical Loan, you can pay all these medical bills with minimum financial stress.
MoneyTap Travel Loan: If you are planning a big holiday, the MoneyTap Travel Loan will help you arrange plane tickets, hotels and other expenses instantly.
MoneyTap’s Home Remodeling Loan: Allows you to update your home by purchasing new furniture, lighting and other accessories.
MoneyTap Mobile Loan: If there’s a new phone in the market that you really want, you can buy it right away with MoneyTap Mobile Loan instead of waiting for days to save money.
MoneyTap Laptop Loan: Get instant financing for the latest laptop model you want to buy from the convenience of your home or office with MoneyTap Laptop Loan.
Consumer credit for long-term use: Is this the television you want to buy? Or how about a home theater? Or a speaker even? With MoneyTap Consumer Durable Loan, you can quickly buy the appliance of your choice.
Debt Consolidation Loan: With this loan from MoneyTap, you can combine multiple loans and debts with different payment dates into a single EMI, making the payment easier.
Marriage Loan, Medical Loan, Travel Loan, Home Renovation Loan, Mobile Loan, Laptop Loan, Consumer Durable Loan and Debt Consolidation Loan.
Eligibility Criteria for MoneyTap Loan
The following are the key eligibility criteria if you opt for MoneyTap Credit Line Personal Loan:
- You should either be a salaried employee or a self-employed professional (lawyer, doctor or businessman).
- Your minimum monthly income is at least Rs. Should be Rs. 30,000.
- You must be at least 23 years of age and your maximum age must not be more than 55 years.
- Salaried individuals must have been in their current job for at least 6 months (at the time of application submission) and must have at least 2 years of overall work experience. Self-employed individuals must be in business for at least 3 years and have overall work experience of at least 3 years.
Documents Required For MoneyTap
Here are some important documents you need to provide when applying for a MoneyTap Personal Loan:
- Application form with passport size photograph and duly filled in.
- PAN Card Number
- Address Proof: Passport, Driving License, Aadhaar Card, Voter ID Card
- ID proof: Passport, Voter ID card, Driving license, Aadhar card
- Income proof: Payslip, Form 16, certified P&L statement/balance sheet, etc.
- Any other documentation required by the lender.
How does MoneyTap app work?
The process of availing credit is quick as the process is completely online with no physical work required. To get the loan you need to follow the following steps:
- Create your account: First of all click on the link given below-
- https://www.moneytap.com
- To avail the loan you will need to create an account with MoneyTap. Once you download the MoneyTap app, you will be required to provide some permissions and basic information.
- Check your eligibility: Based on the basic information provided by you, the MoneyTap app will show your eligibility for a personal loan with the eligible interest rate and tenure.
- Fill in your details: To avail from MoneyTap, after successfully checking the loan eligibility criteria, you will be required to fill in your existing ongoing loan, business and employment details.
- Providing Bank Details: You will be required to submit your bank account statement for disbursement of loan in your account.
- Receive Loan: The loan amount will be directly transferred to your bank account.
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MoneyTap Loan App FAQS
Can I get a personal loan from MoneyTap if I do not have a bank account?
No, if you do not have a bank account then you cannot take a personal loan from MoneyTap.
How do I repay the MoneyTap Personal Loan?
You can repay the MoneyTap loan via check or through the app or directly through the bank where it is automatically deducted with eNACH.
How can I keep track of my personal loan transactions?
You can monitor your transactions through the MoneyTap app.
What if I miss the EMI payment?
Your credit score will go down and a late payment fee equal to 15% of the outstanding amount will be applicable.
Is it possible to apply for MoneyTap personal loan without PAN card?
No, PAN card is a mandatory requirement for processing the loan application.
How do I contact MoneyTap?
If you have any concerns about the app services, you can call the MoneyTap Personal Loan customer care number. You can also write on their official email id.
How do I cancel a MoneyTap loan?
You cannot cancel the loan after availing a personal loan from MoneyTap mobile application.
Is MoneyTap under RBI?
Yes, MoneyTap app is registered with RBI to offer instant personal loans.
What happens if I don’t pay off my MoneyTap loan?
If you fail to repay your loan, you will be sent a notice asking you to repay your loan. However, failure to do so will cause the lender to write off your account and also impact your credit score.
Does MoneyTap impact credit scores?
If you take a personal loan through the MoneyTap app, you do not need any credit history; However, if you fail to repay your EMIs on time it will damage your credit score.
Is MoneyTap a secure site?
The data shared by the app is transferred to the lenders with the borrowers’ consent over a secure connection. Therefore, it is a safe and reliable app to apply and get an instant personal loan.
Does MoneyTap check CIBIL score?
Yes, every loan or loan application that any personal loan provider makes checks the credit score. This is one of the important requirements to get a personal loan from any lender.