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.
● 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)
→ Incred Capital Financial Services Pvt Ltd
→ Kisetsu Saison Finance (India) Private Limited
→ Cholamandalam Investment and Finance Company
→ Transactree Technologies Pvt Ltd
→ Tapstart Capital Pvt Ltd.
→RBL Bank Ltd.