Best Personal Loan App in India - Get money up to ₹5,00,000 & pay interest on the exact amount you withdraw from your MoneyTap balance
Get a personal loan online with zero collateral. Interest rates starting from as low as 13% per annum* for 3 to 36 months. We offer you the benefits of an easy personal loan and credit card combined.
For salaried employees only! Minimum salary = ₹30,000 per month.
If you need money, view MoneyTap as your first choice for loans.
For ₹1,00,000 borrowed for 1 year, with interest rate @13% per annum*, a user would pay:
-> Processing fee (@ 2%) = ₹2,000 + GST = ₹2,360
-> (Line setup fee of ₹499+GST = ₹588/- to be paid before starting the credit line)
-> Interest = ₹7,181
-> EMI = ₹8,932
Total amount to be repaid after a year = ₹1,10,129/-
*Interest Rate varies based on your risk profile
The maximum Annual Interest Rate can go up to 36% (However, only a fraction of our customers get an interest rate higher than 30% per annum)
We are India’s first credit line based personal loan app in partnership with leading banks and NBFCs. We work ONLY with regulated financial institutions in India, governed by RBI & we have our own NBFC license as well. So we're well regulated and legally compliant.
How is MoneyTap different from any other traditional personal loan app in India?
The best feature of MoneyTap Loan app is that you pay the interest only for the amount that you borrow.
Example: Ajay applies for a MoneyTap Loan (credit line) in January, gets an approved credit line of ₹5,00,000 but doesn’t borrow any money 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.
What features make MoneyTap convenient?
● 100% paperless process, no bank visits
● You can use any amount from your available credit line
● Make UPI transactions directly from your Credit Line
● Aadhaar number
● Identity proof (Driving license/Voter id/Passport/Aadhaar/PAN)
● Address proof (Driving license/Voter id/Passport/Aadhaar/Utility bills/bank statements)
● Original passport photo/selfie
● You can get a personal loan online on Aadhaar card. E-sign your application with registered mobile OTP for fast-track application
How does MoneyTap work?
Get a personal loan in 4 simple steps:
● Apply on the app and get approved in 4 minutes, create your profile, fill basic information such as age, city, PAN, & income to check eligibility
● Instantly find out your pre-approved amount
● Complete KYC verification
● Transfer money to the bank account from the approved amount
Available in 50+ cities.
MoneyTap Personal Loan Application Uses
● Phone pe loan - use it as an urgent personal loan.
● Personal loans can be used for education, medical, marriage / wedding loan, home renovation loans, mobile / laptop loan, used car/ two-wheeler loan, travel loans, debt consolidation loan, etc.
● The experience of an early salary for emergency cash.
Bonus: MoneyTap RBL credit card
● 100% cash withdrawal from your credit card online
● 50-days interest-free period
Security & Protection of Privacy
Data security & privacy is a top priority at MoneyTap. Our backend APIs comply with mandated security standards & robust protocols which have been tested and certified by our partner bank’s IT team.
Download the MoneyTap loan app now.
- Repayment made easy
- Bug fixes and improvements
Ratings and Reviews
I have been using Mtap for years. Here are pros and cons
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.
-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 task
- 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.
Don’t use this app- you will loose your cibil
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.
Very poor response
people first I need to tell you one thing guys don’t download this app ever it’s just fake and making this app download once you got rejected or put on hold it means your cibil score will be down and none of the bank will provide the loans and offers so. Pls pls small request
This is Pramod here I Registered the MoneyTap because of a add which is on Instagram when I download and start registration all were smooth after the salary colum thing we filled up it’s showing that Application is put on hold what is this does mean !! people are fool ?? Downloading this app and making unseen creations and all what is the problem if an app it’s in the market what is that app ? Whether the app will helpfull or not ? Does any problem to public people ?all this matters not simply getting downloaded and making fun out of people so pls give my details and everything pls stop this nonsense
Developer Response ,
we need your registered details to assist you further on your query. Please contact us at email@example.com with your registered details, so that we can check the status of your application and get back to you with an update. Thank you!
Data Used to Track You
The following data may be used to track you across apps and websites owned by other companies:
Data Linked to You
The following data may be collected and linked to your identity:
- Financial Info
- Contact Info
- User Content
Data Not Linked to You
The following data may be collected but it is not linked to your identity:
- Financial Info
- Usage Data
Privacy practices may vary based on, for example, the features you use or your age. Learn More
- MWYN TECH PRIVATE LIMITED
- 140.3 MB
- Requires iOS 10.0 or later.
- iPod touch
- Requires iOS 10.0 or later.
- Requires macOS 11.0 or later and a Mac with the Apple M1 chip.
- Age Rating
- © MWYN Tech Private Limited
Up to six family members will be able to use this app with Family Sharing enabled.