MoneyTap Loan App Kya hai | Documents | Customer Care | Eligibility

MoneyTap Loan App Kya hai | Documents | Customer Care | Eligibility

What is MoneyTap app ?

The MoneyTap app is India’s first and most trusted loan provider and web application. More than 10 million people have downloaded this app. You can easily apply for a quick personal loan or credit card online with the MoneyTap loan application without any hassle and get digital approval within minutes.

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Features of MoneyTap Personal Loan

Purpose of the loan: MoneyTap Personal Loan can be used for almost anything. It can be used to plan a trip, a wedding, debt consolidation, the cost of education for yourself or children, medical expenses, and so on. There is no limit to last usage.

Quantum: The minimum loan amount of Money Tap is Rs. 3,000 and depending on the income and ability to repay the borrower can increase to Rs. 5 Lakhs Personal Loan.

Interest: MoneyTap loan interest rates start from 1.08% per month or 13% per annum. Interest should only be paid on the amount spent.

Payment: Payment period can range from 2 months to 36 months and EMI will be adjusted according to the borrowing period.

Location: Currently, the location is located in selected cities such as Mumbai, Bangalore, Delhi, NCR, Anand, Ahmedabad, Chennai, Chandigarh, Coimbatore, Gandhinagar, Hyderabad, Indore, Jaipur, Kolhapur, Mohali, Panchkula, Pune, Rajkot, Secunderabad, Surat , Vizag, Vadodara, and Vijayawada.

Credit points: CIBIL points for the applicant must not be less than 700. The credit report should not contain words such as “corrected” or “deleted”. The total loan amount including Credit Card should be between 2 and 6. Credit history of at least 12 months must be available. Previous loan repayments should not have been more than 60 days past 2 years and 30 days ago in the same year.

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MoneyTap Loan Interest Rates

MoneyTap personal loan interest rates typically range from 13% to 24.03% p.a. The exact interest rate depends on the borrower’s credit result, based on his or her payment record, automatic payment and canceled payments.

MoneyTap Personal Loan 2.0 allows you to pay interest only on the amount spent and not at all authorized limits. Effective interest rates are disclosed to the borrower in advance for his or her EMI and are charged only after you have approved it.

Benefits of MoneyTap Personal Loan

  • One can get immediate approval of a MoneyTap Personal Loan and in the case of a regular Personal Loan, authorization is only granted in certain preferences.
  • With MoneyTap Personal Loan the credit limit is set and a person can borrow parts and pay interest only on the amount spent. However, in some Personal Loans the money comes in the amount of money into a person’s account and interest should be paid on all of this money.
  • The interest rate on MoneyTap Personal Loan is lower than regular Personal Loans because you only pay interest on the amount spent.
  • Once the loan has been approved the RBL Money Tap Card is issued on a MoneyTap Personal Loan which can be used as a standard credit card. You can even withdraw money with this card at no additional charge. Personal Loan does not have this benefit.
  • Payment schedule can be selected on the MoneyTap Personal Loan but in the case of a normal personal loan, one cannot choose a payment schedule.
  • With the Money Tap loan app, you can manage your credit, payments, and transfers with the app, which is not possible with regular loans.

MoneyTap Personal Loan Eligibility Criteria

The applicant must meet the following eligibility for MoneyTap Loan:

  • Leading people, government employees, business owners, and self-employed professionals such as lawyers, doctors, architects, shop owners, and Chartered Accountants are eligible for a loan.
  • The applicant must be earning a minimum monthly income of Rs. 20,000.
  • The applicant must be in the age group of 23 to 55 years.

MoneyTap Personal Loan Charges

Processing Fee: Depends on the amount deducted. The money is divided into brackets listed below:

  • Rs. 3,000: Rs. 199 + GST
  • Rs. 5,000: Rs. 399 + GST
  • Rs. 10,000: Rs. 499 + GST
  • Rs. 25,000 and up: 2% of borrowed amount + GST

Note: The processing fee is charged on the transfer fee, not at the authorized limit. The amount is added to the next borrower’s statement. Every time a borrower withdraws money from the MoneyTap app, a small processing fee + with active GST will be charged for the amount used. The amount is included in the borrower’s next month’s statement.

  • One-Time Setup Fee: Rs.499 + GST ​​(Charged to allow MoneyTap to limit the amount you can spend 24X7). This payment includes KYC processing and initial payment for home visits.
  • Late payment for loss / non-payment Personal Loan EMI scheduled: 15% of fixed EMI value (Minimum Rs. 350 to Rs. 1,000 Maximum).

Documents Required for MoneyTap Personal Loan

After downloading the MoneyTap app, the documents required for download to get a personal MoneyTap loan are:

  • Pan card
  • Aadhaar Card
  • Professional Selfie (taken from MoneyTap App).
  • Proof of ownership (anyone): Driver’s License / Passport / Voter ID / Aadhaar / PAN.
  • Proof of Address (anyone): Driver’s License / Passport / Voter ID / Aadhaar / Usage Loans /
  • Organized Bank Statements.

How do you calculate the MoneyTap Personal Loan EMI?

You can calculate your monthly EMI payments for Moneytab Personal Loan using MyMoneyMantra’s Personal Loan EMI Calculator with different key prices, interest rates, and payment period.

MoneyTap Personal Loan Verification Process

The MoneyTap Personal Loans verification process is described below:

  • Download the MoneyTap mobile app on Android or iOS.
  • After logging in to MoneyTap, fill in the required details and upload the documents.
  • MoneyTap loan specialists will verify your details such as your identity, address, and income.
    MoneyTap will then process the documents (PAN card, address proof, and identity document) submitted by you.
  • After confirming all the information, you will be given a loan and the amount of Instant Personal
  • Loan MoneyTap will be transferred to your bank account.

How to Check MoneyTap Application Status?

You can check your MoneyTap status for your loan application in any of the following ways.

With the MoneyTap Mobile App

  • Android users can download the MoneyTap app on mobile in the Google Play Store and iPhone users in the Apple Store.
  • After downloading the app and logging in to Money Tap, you can easily check the status of your personal loan program.

Through the MoneyTap Support Team

You can also email MoneyTap to hello@moneytap.com or call MoneyTap customer care number to inquire about your loan application status.

MoneyTap Personal Loan – Customer Care Number

You can contact MoneyTap by sending an email to hello@moneytap.com. and also Here are Number 1800 121 9050.

MoneyTap Personal Loan – Customer Care Number Delhi, Bangalore

Here are Number 1800 121 9050.

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