MoneyTap provides personal loans with interest rates starting from 1.08% per month (13% p.a.) for loan amounts up to Rs 5 lakh and repayment periods of up to 3 years. Borrowers of MoneyTap Personal Loans can access a credit line of up to Rs 5 lakh, which can be utilized for various expenses such as home renovation, education, travel, weddings, medical emergencies, and more. The lender boasts quick loan approval within 4 minutes through its mobile app, with minimal documentation required for the application process.
Up to ₹5L
1.08%
2 Months to 3 Years
Up to 13%
MoneyTap charges interest rates starting from 1.08% per month (13% p.a.) on their Personal Loans. If you take a loan from MoneyTap, you only pay interest on the amount you withdraw, not the entire loan amount. While MoneyTap hasn't detailed different interest rates based on credit scores, monthly income, or job, many lenders usually consider these factors when deciding on personal loan interest rates.
MoneyTap Personal Loan Highlights |
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|---|---|
| Interest Rate | 11.08% per month (13% p.a.) onwards |
| Loan Amount | Rs 3,000 to Rs 5 lakh |
| Loan Tenure | 2 months to 3 years |
| processing Fees |
|
| Minimum monthly income | Rs 30,000 |
Note: Interest rates as on 20 December 2024
| Table of Contents | ||
|---|---|---|
| Comparison of MoneyTap Personal Loan vs. Other Lenders | ||
| Fees and Other Charges | ||
| Types | ||
| Eligibility Criteria | ||
| Documents required | ||
| EMI Calculator | ||
| Banks/NBFCs | Interest Rates(p.a.) | |
|---|---|---|
| Axis Bank | 10.49% onwards | Apply Now |
| IndusInd Bank | 10.49% onwards | Apply Now |
| IDFC First Bank | 10.49% onwards | Apply Now |
| HDFC Bank | 10.50% onwards | Apply Now |
| ICICI Bank | 10.50% onwards | Apply Now |
| Kotak Mahindra Bank | 10.99% onwards | Apply Now |
| Tata Capital | 10.99% onwards | Apply Now |
| Bajaj Finserv | 11.00% onwards | Apply Now |
| Federal Bank | 11.49% onwards | Apply Now |
| DMI Finance | 12.00% - 40.00% | Apply Now |
| L&T Finance | 12.00% onwards | Apply Now |
| Kreditbee | 12.25% - 30.00% | Apply Now |
| MoneyTap | 12.96% onwards | Apply Now |
| Piramal Finance | 12.99% onwards | Apply Now |
| Aditya Birla | 13.00% onwards | Apply Now |
| MoneyView | 15.96% onwards | Apply Now |
| Cashe | 27.00% onwards | Apply Now |
Also read: Best Personal Loan Interest Rate
Here are the fees and other charges associated with taking personal loans from MoneyTap:
| Particulars | Rates | |
|---|---|---|
| Processing Fees |
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| Line setup fee (one-time) | Rs 499 + GST | |
Also read: Best Personal Loan in India
Purpose: The lender, MoneyTap, offers personal loans to individuals with a line of credit of up to Rs 5 lakh. This financial support is available to cover both planned medical expenses and unforeseen medical emergencies.
Interest Rate: 1.08% per month (13% p.a.) onwards
Loan Amount: Rs 3,000 to Rs 5 lakh
Tenure: 2 months to 3 years
Purpose: MoneyTap provides personal loans for marriage expenses, offering a credit line of up to Rs 5 lakh. This allows individuals to handle both planned and unexpected wedding-related expenses.
Interest Rate: 1.08% per month (13% p.a.) onwards
Loan Amount: Rs 3,000 to Rs 5 lakh
Tenure: 2 months to 3 years
Purpose: Applicants for personal loans can access a line of credit from MoneyTap, allowing them up to Rs 5 lakh. This financial flexibility helps them handle expenses related to their own education or the education of their children.
Interest Rate: 1.08% per month (13% p.a.) onwards
Loan Amount: Rs 3,000 to Rs 5 lakh
Tenure: 2 months to 3 years
Purpose: MoneyTap offers personal loans for travel expenses, providing a personal line of credit of up to Rs 5 lakh for applicants to fund their vacations.
Interest Rate: 1.08% per month (13% p.a.) onwards
Loan Amount: Rs 3,000 to Rs 5 lakh
Tenure: 2 months to 3 years
Purpose: MoneyTap provides personal loans to potential applicants for financing their purchase of used or pre-owned cars/vehicles. They can avail a credit line of up to Rs 5 lakh for this purpose.
Interest Rate: 1.08% per month (13% p.a.) onwards
Loan Amount: Rs 3,000 to Rs 5 lakh
Tenure: 2 months to 3 years
Purpose: With personal loans from MoneyTap, individuals can access a credit line of up to Rs 5 lakh to finance the purchase of two-wheelers.
Interest Rate: 1.08% per month (13% p.a.) onwards
Loan Amount: Rs 3,000 to Rs 5 lakh
Tenure: 2 months to 3 years
Purpose: Potential applicants have the option to avail MoneyTap Consumer Durable Loans to buy various consumer products, including home essentials such as washing machines, air conditioners, microwaves, refrigerators, kitchen appliances, home entertainment systems, printers, and more.
Interest Rate: 1.08% per month (13% p.a.) onwards
Loan Amount: Rs 3,000 to Rs 5 lakh
Tenure: 2 months to 3 years
Purpose: MoneyTap provides personal loans for debt consolidation, allowing prospective applicants to combine multiple loan and credit card obligations into a single personal loan. This helps in reducing overall interest costs and simplifies the process of managing repayments by consolidating multiple EMIs and due dates into one.
Interest Rate: 1.08% per month (13% p.a.) onwards
Loan Amount: Rs 3,000 to Rs 5 lakh
Tenure: 2 months to 3 years
Purpose: MoneyTap extends personal loans for individuals seeking to buy used or pre-owned 2-wheelers, providing a line of credit of up to Rs 5 lakh for this purpose.
Interest Rate: 1.08% per month (13% p.a.) onwards
Loan Amount: Rs 3,000 to Rs 5 lakh
Tenure: 2 months to 3 years
Purpose: MoneyTap provides personal loans for individuals looking to purchase a laptop or laptops, offering a credit line of up to Rs 5 lakh.
Interest Rate: 1.08% per month (13% p.a.) onwards
Loan Amount: Rs 3,000 to Rs 5 lakh
Tenure: 2 months to 3 years
Purpose: Prospective applicants interested in buying mobile phones can take advantage of personal loans from MoneyTap, which includes a personal line of credit of up to Rs 5 lakh.
Interest Rate: 1.08% per month (13% p.a.) onwards
Loan Amount: Rs 3,000 to Rs 5 lakh
Tenure: 2 months to 3 years
Purpose: Individuals seeking personal loans for renovating their residential property can benefit from MoneyTap's offerings. The loan proceeds can be used for various purposes, such as home renovation, paying rent or down-payment, internal and external repairs, and expanding their home, among others.
Interest Rate: 1.08% per month (13% p.a.) onwards
Loan Amount: Rs 3,000 to Rs 5 lakh
Tenure: 2 months to 3 years
Also read: Best Personal Loan Status
The eligibility criteria for individuals applying for personal loans from MoneyTap are:
Also read: Best Personal Loan Eligibility
To apply for personal loans from MoneyTap, prospective applicants need to submit the following documents:
Also Read: Best Personal Loan Documents Required
Also read: Best Personal Loan EMI Calculator
