MoneyTap - Credit Line & Loan 4.5.0

MoneyTap is a Credit Line and Instant Personal Loan App in India. With MoneyTap, you can get instant approval for a credit line of up to ₹5,00,000 and only pay interest on the amount you withdraw from your balance.

MoneyTap offers competitive interest rates starting from as low as 12%. You will only be charged interest on the exact loan amount used from your approved credit line.

MoneyTap is available to salaried employees with a minimum salary of ₹30,000 per month. It aims to provide better services than Indian banks and offers the flexibility of a line of credit that can be used as an early salary.

Some of the key features that make MoneyTap the best instant personal loan app in India include:

• Borrow any amount starting at ₹3,000 from your approved Credit Line, which can go up to ₹5 Lakh
• Pay interest only on the amount you use
• Instant personal loan without any risk
• Make UPI transactions from your credit line
• Fully digital and paperless experience
• Select your own flexible EMIs and pay later

MoneyTap's online instant personal loan app is different from traditional bank loans in India because it charges interest only for the amount you borrow. This means that you have access to the remaining credit limit without paying any interest until you withdraw any further amounts.

Here's an example to illustrate how this works: Ajay applies for a MoneyTap Instant Personal Loan (credit line) in January and gets an approved credit line of ₹5,00,000. However, he doesn't use any money from the approved line for the next 5 months. In May, he withdraws ₹50,000 from his credit limit to pay for a house deposit. Now, the interest will only be charged on ₹50,000. Ajay still has access to ₹4,50,000 whenever he has another emergency without paying any interest on it until he withdraws any amount.

MoneyTap offers personal loans ranging from ₹10,000 to ₹5 lakhs. It has interest rates starting from 12% to 36% (APR) and EMI tenures that range from 3 to 36 months. The processing fees range from 2% to 3.75%, and there is a one-time line setup fee ranging from ₹199 to ₹999.

For example, if you borrow a ₹1,00,000 personal loan for 1 year at an interest rate of 13% per annum*, you would need to pay the following:

• Processing fee (at 2%): ₹2,000 + GST = ₹2,360
• Line setup fee: ₹999 + GST = ₹1181 (to be paid before starting the credit line)
• Interest: ₹7,181
• EMI: ₹8,932

The total amount to pay would be ₹1,10,725.*Please note that the interest rate varies based on your risk profile. Only a fraction of our customers get an interest rate higher than 30% per annum.

To apply for a MoneyTap loan, you will need the following documents:

• Aadhaar number
• Identity proof (Driving licence/Voter ID/Passport/Aadhaar/PAN)
• Address proof (Driving licence/Voter ID/Passport/Aadhaar/Utility bills/bank statements)
• Passport-sized photo/Selfie
• For fast-tracked application, you can get a personal loan online using your Aadhaar card. E-sign your application with a registered mobile OTP.

The MoneyTap application process is simple and can be completed in 3 steps:

1. Log on to the MoneyTap credit line app and enter information such as your age, city, PAN, and income to check your eligibility.
2. Complete KYC verification and submit documents online.
3. Transfer the approved amount to your bank account.

MoneyTap is available in 85+ cities and can be used for various purposes such as an urgent online personal loan, early salary for emergencies, wedding expenses, home renovation and repair, mobile phone or laptop purchase, car or bike loan, education loan for students, and more.

In addition to its personal loan services, MoneyTap also offers the MoneyTap RBL credit card. With this card, you can enjoy 100% cash withdrawal online and a 50-day interest-free period*

MoneyTap works with several lending partners, including:

• SMFG India Credit Co. Ltd. (Formerly Fullerton India Credit Company Limited) - SMFG India Credit Co. Ltd.
• Incred Capital Financial Services Pvt Ltd - Incred Capital Financial Services Pvt Ltd
• Kisetsu Saison Finance (India) Private Limited - Kisetsu Saison Finance (India) Private Limited
• Cholamandalam Investment and Finance Company - Cholamandalam Investment and Finance Company
• Transactree Technologies Pvt Ltd - Transactree Technologies Pvt Ltd
• Tapstart Capital Pvt Ltd. - Tapstart Capital Pvt Ltd.
• RBL Bank Ltd. - RBL Bank Ltd

If you have any further questions or inquiries, you can contact MoneyTap at [email protected].