MoneyTap App or What is MoneyTap App and how does it works?
MoneyTap App or we say What is MoneyTap App and how does it work will discuss today in this article but before you should have to understand some important points about MoneyTap App.
MoneyTap is a smartphone and web-based platform that offers fast personal loans with little to no paperwork. It is entirely technologically driven. Customers can acquire credit approval in as little as a few minutes.
Along with Instant Loans, the app gives consumers round-the-clock customer assistance 365 days a year and a variety of goods such as payday loans, income advances, and instant loans, making it a popular choice among borrowers. MoneyTap is a simple-to-use loan for everyone.
MoneyTap is just an app-based line of credit that offers financial and repay your loan in a flexible manner. You can borrow between Rs. 3000 and Rs. 5 lakh with a MoneyTap Loan Facility.
MoneyTap Personal Loans are simple to apply for and can be used for a variety of personal reasons such as marriage, travelling, paying hospital bills, purchasing electronics, and so on.
The following are some of the benefits of taking out a loan through MoneyTap:
Approval in a matter of minutes.
A personal loan offer that has been pre-qualified.
You can get a MoneyTap-RBL credit card.
Only the amount used is charged interest.
What is MoneyTap App Personal Loan Features
MoneyTap is an online-only tool, thus the electronic online application assures that the loan is completed and disbursed quickly.
Flexibility in Withdrawals: At MoneyTap, customers can acquire approval for maximum to Rs.5 lakh in withdrawals. However, you have the option of withdrawing a smaller amount depending on your needs.
Pay interest on money you use: Because you’re using a line of credit, your interest costs will be equal to the amount you withdraw, not the whole amount you’ve been approved for. When compared to a traditional personal loan, this can save you a lot of money on interest.
MoneyTap also gives you the option of repaying the loan over a term of 2 to 36 months, in addition to withdrawing money.
Personal Loans from MoneyTap App
MoneyTap Wedding Loan: A MoneyTap Marriage Loan can also be used to cover big wedding expenses such as jewellery, the venue, guest accommodations, wedding invitations, and so on, allowing you to quickly overcome any financial obstacles.
Medical Loan: In the event of a medical emergency, you will want funds for a variety of medical treatments, medications, and hospitalisation, among other expenses. With a MoneyTap Medical Loan, you may pay all of these hospital costs with minimal financial strain.
MoneyTap Travel Loan: If you’re planning a big trip, MoneyTap Travel Loan can help you buy tickets, accommodation, and other expenses right away.
MoneyTap’s Home Renovation Loan: It allows you to update your home’s appearance by purchasing new furniture, lighting, and other accessories.
MoneyTap Mobile Loan: If you want to buy a phone from of the market, you may do so right away with a MoneyTap Mobile Loan instead of saving for several days.
MoneyTap Laptop Loan: Using MoneyTap Laptop Loan, anyone may acquire immediate financing for the new computer model you wish to buy, right from the comfort of your own home or office.
MoneyTap Consumer Durable Loan: Do you want to purchase a television or a home theatre system for your home? You can get a loan against whatever piece of equipment you choose with a MoneyTap Give Guarantee Loan.
MoneyTap Debt consolidation loan: With this type of loan from MoneyTap, you may combine several loans and loans with varying payments into a single EMI, reducing repayment burden.
What is the interest rate on a MoneyTap App Personal Loan?
The starting interest rate for a MoneyTap Personal Loan is 1.08 percent per month. MoneyTap’s actual interest rate may vary based on credit record, repayment capacity, salary, existing loans, and other factors.
The interest rate on a MoneyTap App personal loan starts at 13%.
A small amount for processing fee of 2% + GST is charged by MoneyTap Personal Loan.
The term of a personal loan might be anywhere from two to 36 months.
With MoneyTap, you can get a personal loan ranging from 30,000 to 5,000 dollars.
If you don’t pay back the loan, the app will charge you a 15% penalty on the outstanding balance.
What is MoneyTap App and how does it works?
MoneyTap’s credit application process is quick because it is entirely online and requires no physical work. The following actions must be done in order to obtain a loan from MoneyTap:
To receive credit, you must first register an account with MoneyTap. Once you’ve downloaded the app, you’ll be asked to grant certain permissions and enter some basic information, which the app will use to determine your eligibility.
Filling in the Details: Once you’ve checked the qualifying criteria, you’ll need to fill out all of the relevant information to get the credit.
Providing Bank Account Information: In order for credit to be disbursed to your account, you must provide your bank account information.
Getting a Loan: The credit amount will be deposited immediately to your bank accounts.
MoneyTap Personal Loan lends to a variety of people. If you choose a MoneyTap Personal Loan, the following are the main eligibility requirements:
Either a paid employee or a self-employed individual is required (lawyer, doctor or businessman).
At the very least, your monthly salary should be Rs. 20,000.
You should be at least 23 years of age and no older than 55 years old to apply.
Salaried applicants must have worked in their present position at least 6 months (at the time of application) and have a total work experience of two years.
Self-employed people should have been in company for at least three years and have at least 3 years work experience.
Also Read: What is Bitcoin? What is Cryptocurrency?
What papers do I need to apply for a MoneyTap App Personal Loan?
When applying for a MoneyTap Personal Loan, you’ll need to present the following documents:
Number on the PAN Card
Passport, driver’s license, Aadhar card, and voter ID card are examples of address proof.
Passport, voter ID card, driver’s license, and Aadhar card are all acceptable forms of identification.
Proof of income: paystubs, Form 16, certified P&L statement/balance sheet, and so on.
How do I access the MoneyTap App Portal?
MoneyTap is a loan platform that can only be accessible through an app. After you’ve downloaded, installed, and verified the app on your phone, you can complete the log-in process by following these steps:
Launch the app and go to the bottom of the screen to the “Sign in to MoneyTap” button.
Log in using your Google or Facebook credentials (username and password).
Using the MoneyTap app, you may apply for a credit line or a purchasing voucher/credit card after logging in
How Do I Use Money Tap’s EMI Calculator For A Personal Loan?
The Personal Loan EMI Calculator is a simple online tool that you may access at any time. It instantly calculates your payment, allows users to easily plan your loan and repayment schedule.
Go to the Personal Loan EMI Calculator page on Money Tap.
In the Loan Amount field, enter the amount of your loan.
In the Interest Rate field, enter the existing interest rate.
You can specify the loan duration in months or even years in Loan Tenure.
The result will appear at the bottom of the page.
Customer Service Numbers for MoneyTap
MoneyTap doesn’t have customer care phone numbers at this time. All of your questions/complaints can be addressed through the app’s online customer service or by emailing to [email protected].
MoneyTap has a variety of social media handles on Facebook, Twitter, and other platforms. For data security reasons, do not share personal information on these platforms.
Disclaimer: We have no ties to any lending institutions. We also don’t pretend to be able to obtain loans. Before applying for a loan, please consult the official website. Alternatively, you may contact customer service.