### MoneyTap Personal Loan

MoneyTap allows you to borrow money and pay it back over time, allowing you greater financial freedom in your day-to-day life. Whatever your requirements, you may borrow between Rs. 3000 and Rs. 5 lakh using MoneyTap Personal Loans. If you need some extra cash, you can apply for a personal loan from MoneyTap and use it for anything from a wedding to a trip to medical bills.

#### MoneyTap Personal LoanFeatures

MoneyTap happened to be an online-based application, and the digital applications process ensures which loan processing and distribution are accomplished in the quickest feasible time frame.

Allowance for cash withdrawals promptly At MoneyTap, you may be approved for a loan of up to Rs. 5 lakh, but you can also take out a lesser quantity if you like or the whole loan amount if you need it.

It's a good idea to pay interest only on the money you really use. You will pay interest on the amount you withdraw, not the total amount you are authorized to withdraw since it is a credit line. It's possible that this will save you much money in interest expenses over a standard personal loan.

This is a tenure that may be changed. The loan may be repaid over a period ranging from 2 to 36 months, depending on your circumstances and the flexibility to take money out of the account.

#### Loan Interest Rate Compared with the Other Bank Loans

Banks | Interest Rates (per annum)
--- | ---
MoneyTap | 13% – 24.03%
SBI | 9.60% – 13.85%
PNB | 7.90% – 14.50%
ICICI Bank | 10.50% – 19%
Axis Bank | 10.25% p.a. onwards
Kotak Mahindra Bank | 10.25% onwards
IndusInd Bank | 11.00% onwards
IDFC First Bank | 10.49% – 23%
Bajaj Finserv | 13.00% onwards
Tata Capital | 10.99% onwards

#### Types of MoneyTap Personal Loan

##### Wedding loan

Purpose: Using a MoneyTap wedding loan to pay for big-ticket items like your ring or wedding venue, or even the wedding invitation or guest lodgings, will help you better deal with any unexpected financial challenges that may arise throughout the course of organizing your big day.

Loan Amount: There is a maximum loan amount of 5 lakh rupees

Tenure: It extends up to 3 years

Processing Fee: It is 1% of the loan amount

##### Medical loan

Purpose: Medical emergencies need cash reserves to pay the costs of numerous treatments, drugs, and hospitalization. With a MoneyTap Medical Loan, you'll be able to pay all of these medical expenditures without placing a burden on your finances.

Loan Amount: There is a maximum loan amount of 5 lakh rupees

Tenure: It extends up to 3 years

Processing Fee: It is 1% of the loan amount

##### Travel loan

Purpose: A MoneyTap travel loan may help you cover the costs of plane tickets, hotel rooms, and other essentials when you're planning a long trip.

Loan Amount: There is a maximum loan amount of 5 lakh rupees

Tenure: It extends up to 3 years

Processing Fee: It is 1% of the loan amount

##### Home renovation loan

Purpose: You may use MoneyTap's home renovation loan to buy lighting, new furniture, and other accessories to freshen up the look of your home

Loan Amount: There is a maximum loan amount of 5 lakh rupees

Tenure: It extends up to 3 years

Processing Fee: It is 1% of the loan amount

##### Mobile loan

Purpose: If you genuinely want to get a new mobile phone, you don't have to wait for days to save enough money. There is no need to wait for a long time to save enough money with a MoneyTap loan.

Loan Amount: There is a maximum loan amount of 5 lakh rupees

Tenure: It extends up to 3 years

Processing Fee: It is 1% of the loan amount

##### Laptop loan

Purpose: The latest laptop model maybe yours right away with a MoneyTap laptop loan, and you can do it from the convenience of your own home or office.

Loan Amount: There is a maximum loan amount of 5 lakh rupees

Tenure: It extends up to 3 years

Processing Fee: It is 1% of the loan amount

##### Debt consolidation loan

Purpose: By lowering the number of payments you have to make, combining several loans and debts with different due dates into a single EMI with MoneyTap may help ease the burden of debt repayment.

Loan Amount: There is a maximum loan amount of 5 lakh rupees

Tenure: It extends up to 3 years

Processing Fee: It is 1% of the loan amount

##### Consumer durable loan

Purpose: Are you looking to purchase a television? Perhaps a home theatre is in order? Or, do you aspire to be a public speaker yourself? Using a durable consumer loan from MoneyTap, you may get the item you want swiftly and effortlessly.

Loan Amount: There is a maximum loan amount of 5 lakh rupees

Tenure: It extends up to 3 years

Processing Fee: It is 1% of the loan amount

### Why Should You Opt for MoneyTap Personal Loan?

Most banks will do a comprehensive credit check before approving a two-wheeler loan. The absence of credit history might cause banks to reject your loan application if you have never taken out a loan or used a credit card before.

Even if you are a first-time credit borrower, MoneyTap may be able to manage your personal loan (NTC). This means that MoneyTap looks at all aspects of a borrower's financial situation, including their employment, income, and any other debts they may have.

The MoneyTap app may be used to apply for a personal loan online. In a short second, the approval is granted. Loan applications may be completed online, avoiding unnecessary bank trips and saving time.

To get easy personal loan approval, since the standards are so stringent, you have to meet several conditions that may be tough to meet. Either a guarantor or collateral is required to get a loan.

In terms of two-wheeler loans, interest rates might vary widely amongst lenders. How much of a down payment you'll have to put down will depend on several factors, including how much money you make and your credit history.

### How to repay the MoneyTap Personal Loan?

MoneyTap's personal loan for a two-wheeler allows you to pick the loan duration that best suits your repayment ability and financial situation. Generally speaking, the loan period is less than that of a two-wheeler loan. You may also opt to prepay the whole loan amount with no foreclosure fees if your financial situation allows it. For example, all of the flexibility provided by MoneyTap may not be available to borrowers of typical two-wheeler loans.

#### What makes Credit right platform to apply for an Individual Loan?

##### Most trustworthy lenders

In order to present you with the best loan alternatives from various lenders in one place, Credit has partnered with more than 30 banks, non-bank financial institutions, and fintech businesses.

##### Make comparisons

What's the best option? Using a few mouse clicks, you can research and compare personal loan offers from India's leading banks, non-banking financial institutions (NBFCs), all on one screen.

##### Personalised options available

With a high degree of acceptance assurance, we provide customised solutions Credit ranks personal loan offers based on your credit score and other qualifying factors to determine which ones are most relevant to you. Your loan application will be accepted if you use this information to help you choose the best deal.

##### Can gain benefit from Pre-approved loans

These loans are those that have already been authorised. Once you've joined the Credit community, you'll get personalised pre-approval offers for personal loans based on your credit score and history. There is minimal to no verification required for these loans and the processing expenses are inexpensive.

##### Right advice

Credit's team of experts will assist you in every stage of the procedure, coordinate with lending banks/NBFCs, and help you get the best personal loan for your needs.

When it comes to applying for a personal loan, credit.nsserver.in is a 100% digital-only company, which means that you can apply from the comfort of your own home with zero to little paperwork and an entirely digital experience.

##### End-to-end Assistance

After you complete your loan application, Credit representatives will visit your home or place of business at a mutually agreed-upon time and day to pick up any physical papers that is needed. Credit takes care of everything for you, so you don't have to go to a lending institution in person to submit your documentation. Comprehensive Help from Start to Finish Credit's team is always by your side, working with the lenders to make sure you have an excellent experience from beginning to finish, from searching for a loan choice to getting the sanctioned money in your bank account.

###### Personal Loan by Top Banks

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