MoneyTap - Credit Line & Loan

360K reviews
Content rating
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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

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

With your consent we ask for 'SMS and Call log permissions' to facilitate approvals for your loan request in compliance with applicable laws. We DO NOT collect, read, or store any personal SMSs, maintaining your privacy & protection.

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.

Updated on
Mar 27, 2024

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 2 others
This app may collect these data types
Location, Personal info and 5 others
Data isn’t encrypted
You can request that data be deleted

Ratings and reviews

359K reviews
Achal kumar singh
April 12, 2024
I have always paid in time my loan but still in my credit line it shows the amount is there i can transfer but it has been 6 months since then I am unable to transfer the amount when you write to support team we get replies that we are looking into it and the same story goes for months after months no improvement I don't remember now how many times I have written to them but then since months nothing has changed.. Horrible aap do not recommend to any one.
Freo - Smarter, Better, Bigger Banking
April 15, 2024
Hi Achal. We apologize for the inconvenience, but your money transfer service has been temporarily disabled as a result of recent policy adjustments. Rest assured, we will promptly update you with any new developments as and when they arise.
Ganga Nair
March 14, 2024
Customer service is pathetic as they don't have any. Only medium is through emails, which they are not ready to read or reply. My husband has sent them ton of emails to resolution on the foreclosure. Even after locking period they don't give the option of foreclosure. If we seek for help..they send a auto-generated email stating that moneytab do not have customer support send email on same email address. Onboarding and disbursement goes very smoothly, later for help no one is available.
2 people found this review helpful
Freo - Smarter, Better, Bigger Banking
April 3, 2024
Hello Ganga, We regret any inconvenience you may have experienced. We're happy to let you know that your inquiry has been successfully resolved. If you have any further questions or concerns, please feel free to contact us anytime. Our team is here around the clock to assist you with any help you may require.
Marianne Thomas
February 26, 2024
Worst customer service ever from past 6-8 months sent more than 100+ emails stating that when I log into the app when I click check credit limit eventhough I'm existing customer it says invalid email. Now they will say sorry and send email to hello@moneytap which I have done with screenshots . No response at all
3 people found this review helpful
Freo - Smarter, Better, Bigger Banking
April 3, 2024
Hi Marianne, Your loan's credit partner is DMI. If you have any questions or need clarification about loans or any other matters concerning DMI, please don't hesitate to contact DMI customer care through the following channels: Voice Support: 08064-807-777 Email Support: Customer portal: