LoanTap has an in-house RBI registered NBFC which provide tailormade loans to the millennials. With a simple online process, a borrower can apply from a range of collateral free personal loans.
Features and Benefits of LoanTap personal loan
- Decent loan amount: As compared to various online portals, LoanTap offers a higher loan amount. So, when you apply for LoanTap personal loan, you need not worry about your requirement, as it already offers you a higher sum.
- Online loan estimation: By using the online tool available at the LoanTap site, one can know about eligibility, applicable interest rate, processing fee and other charges before applying the loan. The best part of this process is that this only takes a few minutes.
- Multiple repayment methods: To provide its customer a flexible solution, the lender offers multiple repayment options. Borrower can easily switch between the various repayment options.
- Quick processing: Since the process is online, a borrower can expect loan approval in a quick time with LoanTap. Once the loan gets approved, the lender ensures that the borrower gets funds into the account at earliest. The whole process takes only a few hours.
- Flexible repayment tenure: The repayment tenure ranges between 6 months and 60 months. So, it depends on the user to choose an optimum tenure according to his needs.
- Simple application method: Since it’s an online platform to secure a personal loan, the borrower needs not worry about the application process. With user-friendly interface, the loan application process becomes simpler.
- Collateral free loan: As LoanTap offers collateral free personal loan, you need not worry about arranging any kind of security to avail the loan.
- Customized personal loans: Apart from personal loans, LoanTap offers customized personal loans for its users. These loans are:
- EMI free loan: This loan reduces your monthly repayment by 40% by making a bullet payment as interest.
- Personal over draft: Use a credit line and pay interest for the amount you use. Provides you instant cash on the pre-approved loan.
- Wedding loan: After getting a wedding loan from LoanTap you only need to pay interest for the first 5 months, then a fixed EMI for the entire tenure.
- Holiday loan: Get a holiday loan and only pay interest for the first 3 months, then a fixed EMI for the entire repayment tenure.
- Credit card takeover: Take a credit card take over loan and settle your existing debt.
- Advance salary loan: These loans are given on your salary. You can get a loan up to 2.5 times on your net salary. They give such loans on a shorter tenure up to 12 months.
- Being human E-cycle loan: You can take a loan to purchase an Being Human ecycle. These loans get approved in 2 hours.
- Rental deposit loan: These loans can be taken to pay the security of a rented house. The best part of this loan is, you need to pay only the interest on the loan amount.
- Premium bike loan: Get pre-approved loans for premium bike and get loan up to 100% of the on-road price of the bike.
Eligibility Criteria to apply for Loan tap personal loan
- The minimum age to apply for the LoanTap personal loan is 23 years.
- The maximum age to avail the LoanTap personal loan is 58 years.
- The applicant must be an Indian citizen.
- The applicant should be an employee working with a reputed organisation.
- The minimum salary to apply for LoanTap personal loan is Rs 30,000.
- The individual should have a working experience of at least 2 years.
LoanTap Personal Loan Interest Rates and Other Charges
15% - 24%
2% + applicable taxes on the loan
6 months to 60 months
Rs 50,000 to Rs 10,00,000
Pre closure charges
Nil post 6 months, before 6 months at minimal rates
LoanTap Personal Loan EMI Calculator
It offers a free tool to calculate your monthly EMIs, Interest, and total amount without applying for a loan. This tool is simple and free available at www. loantap.in under the ‘check my instalment tab’. The following are the most common features of the LoanTap personal loan EMI calculator.
- Know future EMIs
- Know interest, you will pay on your loan
- Total amount you will pay during the repayment phase
How to apply for Loan on LoanTap personal loan
Step 1: Fill the online application form by entering your basic details
Step 2: Submit your filled application with the digital copies of the necessary documents.
Step 3: Schedule the visit with the company’s representative at your convenience.
Step 4: Check the list of documents suggested by the lender.
Step 5: Sign the documents and hand it over to the official.
Step 6: The lender verifies the documents before the loan approval.
Step 7: As the loan gets approved, the money gets transferred into the account.
Documents needed to apply for LoanTap personal loans
- PAN card
- Address proof
- Last 3 month’s payslips
- Last 6 month’s bank account statement
- e-Nach mandate form
Loan Tap Customer Care Number
In case of any enquiry, you can connect to LoanTap by using the following mediums:
- Email ID– info@LoanTap.in
- Website- www.loantap.in
- Head Office- Corporate Office Hermes Waves, Office No. 103, Central Avenue Road, Kalyaninagar, Pune, Maharashtra–411006 Registered Office 306, Sangeeta Ramchand (Kartik), CHSL New Link Road, 5 Kartik Complex, Opposite Laxmi Ind. Estate, Andheri (W), Mumbai, Maharashtra–400053, India.