MoneyTap - Credit Line & Loan

4.1
358K reviews
10M+
Downloads
Content rating
Everyone
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About this app

MoneyTap is a Credit Line and Instant Personal Loan App in India. Get Instant approval for a credit line of up to ₹5,00,000 & pay interest only on the amount you withdraw from your balance.
Our Interest rates starting from as low as 12%. Interest payable on the exact loan amount used from your approved credit line.

→ Salaried employees only. Minimum salary = ₹30,000 per month

We aim to provide better services than Indian banks and the flexibility of getting a line of credit that can be used as an early salary.

What features make MoneyTap the best instant personal loan app in India?

● Borrow any amount or sum of money (starting at ₹3,000) from your approved Credit Line (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, paperless experience
● Select your own flexible EMIs & pay later

How is MoneyTap online instant personal loan app different from any other bank loan in India?

MoneyTap credit line charges interest only for the amount you borrow.

For example: Ajay applies for a MoneyTap Instant Personal Loan (credit line) in January, gets an approved credit line of ₹5,00,000 but doesn’t borrow any money from the approved line for the next 5 months. In May, he withdrew ₹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.

Loan Terms & Fees

Get Rs. 3,000 to Rs. 5 lakhs
Interest rates from 12% to 36% per annum
APR from 10% to 70%
EMI tenures from 3 to 36 months
Low processing fees from 0% to 7%
Low one-time line setup fee from Rs. 199 to Rs. 999

For ₹1,00,000 personal loan borrowed for 1 year, with interest rate @13% per annum*, a user would pay:

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

Total amount to pay = ₹1,10,725/-
*Interest Rate varies based on your risk profile.
Only a fraction of our customers get an interest rate higher than 30% per annum.

Documents required

● 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
● You can get a personal loan online on your Aadhaar card. E-sign your application with registered mobile OTP for fast-tracked application

How does MoneyTap work?

Get an instant personal loan in 3 simple steps:

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

Available in 85+ cities.

MoneyTap Personal Loan Application Uses

● Phone pe loan - use it as an urgent online personal loan or as an early salary for emergency
● Wedding loan for marriage expenses
● Loan for home renovation and repair
● Mobile phone loan
● Loan for laptop
● Loan for new, used or second-hand car
● Credit loan for bike or scooter
● Education loan for students

Bonus: MoneyTap RBL credit card

● 100% cash withdrawal from your credit card online
● 50-days interest-free period*

Our Lending Partners:

→ SMFG India Credit Co. Ltd. (Formerly Fullerton India Credit Company Limited)
https://bit.ly/46KNzh9
→ Incred Capital Financial Services Pvt Ltd
https://bit.ly/3eTT0op
→ Kisetsu Saison Finance (India) Private Limited
https://bit.ly/3RUWndD
→ Cholamandalam Investment and Finance Company
https://bit.ly/Cholamandalam
→ Transactree Technologies Pvt Ltd
https://bit.ly/3UkU5WJ
→ Tapstart Capital Pvt Ltd.
https://bit.ly/3qOUeEc
→RBL Bank Ltd.
https://bit.ly/3DRE98L

Contact: hello@moneytap.com
Updated on
Nov 15, 2023

Data safety

Safety starts with understanding how developers collect and share your data. Data privacy and security practices may vary based on your use, region, and age. The developer provided this information and may update it over time.
This app may share these data types with third parties
Personal info, Financial info and 3 others
This app may collect these data types
Location, Personal info and 5 others
Data is encrypted in transit
You can request that data be deleted

Ratings and reviews

4.1
357K reviews
Shreya Ekbote
November 30, 2023
If I could give no star I would. The app js full of bugs. You will never the ready amount to be credited. The whole app is a manual process. And even if you manage to get the amount to be credited, it will still take 48-72 hours for the amount to be credited. The minimum amount to be credited is atleast 2k. I am highly disappointed. Please consider reading about them before keeping hopes from them.
2 people found this review helpful
Freo - Smarter, Better, Bigger Banking
November 30, 2023
Hi Shreya. We regret any inconvenience you may have experienced as we were unable to find your information in our system. To assist you more effectively, we kindly ask you to complete the following feedback form (https://bit.ly/3JTmoneytap). We'll be more than happy to help you out.
aditya rai
November 19, 2023
My loan amount is in processing since Nov 10, you guys don't respond to emails...there is no customer service number. I will never recommend this app to anyone. Anyone reading my review, please go for FIBE. And Moneytap, I want you guys to cancel my loan which is showing processing since 12 days. I don't want any transactions with Moneytap whatsoever.
12 people found this review helpful
Freo - Smarter, Better, Bigger Banking
November 20, 2023
Hi Aditya. We regret any inconvenience you may have experienced as we were unable to find your information in our system. To assist you more effectively, we kindly ask you to complete the following feedback form (https://bit.ly/3JTmoneytap). We'll be more than happy to help you out.
Pankaj Bajpai
November 30, 2023
What an audacity to write that the problem is resolved, without actually resolving it. Better close your app completely if you can't provide services. Again the same disaster. Really disappointing app with no customer problem resolution. How many times do a customer need to fill the feedback form. Simply pathetic. How many days or weeks or months is needed to check credit line? It's been a month and you are still reviewing available limit to get transferred to account.
1 person found this review helpful
Freo - Smarter, Better, Bigger Banking
November 30, 2023
Apologies, Pankaj. We understand the inconvenience you're experiencing. Kindly send us an email at hello@moneytap.com along with a screen recording of the issue. Upon receiving your email, we'll promptly escalate the matter to our credit partner and diligently work towards resolving the issue.

What's new

- Hotfix