MoneyTap is now Freo Credit 4+
Personal Loans & Credit Card
MWYN Tech Pvt Ltd
Designed for iPhone
-
- Free
iPhone Screenshots
Description
MoneyTap is now Freo. Download the new app
Best Personal Loan App in India - Get approved for a flexible loan up to ₹5,00,000 & pay interest only on the amount you borrow with MoneyTap.
Get a personal loan online with zero collateral. Interest rates start 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.
Fees
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
-> (Setup fee of ₹499+GST = ₹588/- to be paid upfront)
-> 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 leading 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 the MoneyTap Loan app is that you pay the interest only for the amount that you borrow.
Example: Ajay applies for a MoneyTap Loan in January, and gets an approved credit limit 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 can avail another loan from the app by opting for a top-up loan right from the app.
What features make MoneyTap convenient?
● 100% paperless process, no bank visits
● You can use any amount from your available credit limit
Documents required
● 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 Freo app now.
What’s New
Version 5.0.0
Bugfixes 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.
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 task
Cons
- 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.
Fraud company
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.
Developer Response ,
Hi, we apologize for the inconvenience. We are unable to locate your information in our system. Please provide us with your registered email address using this link: (https://bit.ly/Qfwof8moneytap). We would be happy to assist you.
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.
App Privacy
The developer, MWYN Tech Pvt Ltd, indicated that the app’s privacy practices may include handling of data as described below. For more information, see the developer’s privacy policy.
Data Used to Track You
The following data may be used to track you across apps and websites owned by other companies:
- Identifiers
Data Linked to You
The following data may be collected and linked to your identity:
- Financial Info
- Location
- Contact Info
- User Content
- Identifiers
Data Not Linked to You
The following data may be collected but it is not linked to your identity:
- Financial Info
- Usage Data
- Diagnostics
Privacy practices may vary based on, for example, the features you use or your age. Learn More
Information
- Provider
- MWYN TECH PRIVATE LIMITED
- Size
- 187.6 MB
- Category
- Finance
- Compatibility
-
- iPhone
- Requires iOS 12.0 or later.
- iPod touch
- Requires iOS 12.0 or later.
- Mac
- Requires macOS 11.0 or later and a Mac with Apple M1 chip or later.
- Apple Vision
- Requires visionOS 1.0 or later.
- Languages
-
English
- Age Rating
- 4+
- Copyright
- © MWYN Tech Private Limited
- Price
- Free