I have been using MoneyTap since very long now, my experience however has been good here and I faced no problems with transactions or rejection or even cibil score, nevertheless there are challenges which Rbl and MoneyTap should consider. There are few pointers for the rest to know what they are getting into.Pro-App looks good with simple User Interface-Easy way to request money to your bank (not just credit) instant cash.-monthly statements on your email-check your statement on app in billing section-provides loans as well-check your ongoing emi easily-repayment is not a taskCons- App is great but now and then it wants to re-register with fb or google account-App takes time to get the data, takes about 5 days or more to reflect payments (TAT can be reduced)-interest rates are whooping high-definitely need a relationship manager-Rbl bank branch won’t help you out they will ask you to work it out on App (No accountability by RBL Noida branch rejected address update)-No option for Address Update (you won’t know where your customer are, this will cause lot of problem when the card needs to re issue) Needs work but definitely not fraudulent for me.

This just got ridiculous. I applied for MoneyTap thru an ad. And I got approved a limit of 48k. And over a period of a month they came and collected documents and signature and so on. And I am already an RBL credit card customer. And MoneyTap is supposed to be a credit line. Which is separate. But then they said they are going to give a credit card for the credit line which I had no idea why. After approval my credit line got reduced to 35k, since my other RBL credit card limit it 35k! And I got a credit card from MoneyTap saying I can spend 3500 on it because my original RBL credit card has only 3500 limit!! But I didn’t bother since I didn’t need a second credit card. Today the app opened up for me to use credit line and there thr credit line says I have only 3500 available to use and not the 35k credit line. Why? Because my original RBL card has only 3.5k available! Which effectively means, MoneyTap sent me employees to verify and all that nonsense to actually give me an add on card which I would have gotten by sending RBL just an sms request!!!! I literally have been given an add on card and a credit line that is as useless as the add on card! And this company used three employees to give me what RBL would have given it to me thru a simple sms!! Is this what MoneyTap business model is based on? Hi, we are MoneyTap and we are experts in giving you add on cards and non-usable credit lines! Apply with us and have pretty looking add on cards?!?! Absolute waste of time! I don’t need your 3.5k because I can actually withdraw that from my credit card! I hope MoneyTap bosses look at this review and just understand how stupid this whole situation is!!

MoneyTap application will show the EMI amount excluding of interest charges,Processing fees and GST while taking loan from this app .You will be shocked to see the huge difference in EMI amount when your first bill get generated. So please be careful while taking loan from this app and you need to have RBL bank credit card to take loan from this app and you should be ended up in paying annual card charges and lot of hidden charges pp will show the EMI amount excluding of interest charges,Processing fees and GST while taking loan from this app .You will be shocked to see the huge difference in EMI amount when your bill got generated. So please be careful while taking loan from this app and you need to have RBL bank credit card to take loan from this app and you should be ended up in paying annual card charges and lot of hidden charges. so requesting everyone to check all the charges before you take loan from this app. We are taking loan from this application, but RBL bank will send the monthly statement and if we call the customer care to check why the hidden charges was not shown while taking the loan and they are asking me to check this from Money tap and till now my query was not resolved.. Please be aware of this kind of fraud.

Guys very frankly speaking download this app only if you want to loose your cibil. I used this app and taken loan of 100k but after few months I started to loose my cibil and I came to know that when I applied for home loan and they told that you have many payment failed with MoneyTap we can’t offer you home loan even I was continuously paying my EMI’s to MoneyTap on time every months.When I came to know this immediately I tried to contact customer care for foreclosure of it but never got response by email from them and when I called on office landline they also couldn’t provide me the solutions as well, luckily I got contact details of top managements and explained my problem to them after that finally I got foreclose letter by email and paid everything what they asked and did close this loan.Trust me guys having less credit is better than this app. I also see others comments with kind of same problem, again use this app only if you want to loose your cibil.