MoneyTap is the first app to provide instant online credit in India. In association with multiple banks and NBFCs (Non-Banking Financial Companies), it offers unsecured, short-term credits to its customers directly on their phone or desktop, without a complicated documentation process. MoneyTap has a widespread presence in 40+ cities and provides small-medium cash loans at affordable interest rates and flexible EMIs.

MoneyTap Interest Rates

Interest rate applicable on MoneyTap loans typically ranges from 13% to 18% per annum. However, the exact interest for your loan amount will depend on your repayment history, defaults and cheque bounces, etc. You need to pay interest only on the withdrawn amount rather than the entire approved limit.

Interest rate

13 to 24.03% p.a.

Processing fee

2% + GST

One-time line setup fee (This fee is inclusive of the KYC processing and initial home visit)

₹ 499 + GST

Late payment charge

15% of the due amount

Foreclosure charges


Loan amount

Rs. 3000 to 5 lakh]


Read More: Check All Banks & Nbfcs Interest Rate 2021

MoneyTap Documents required

Loan application process at MoneyTap is short and simple. Here is a checklist of the documents you may need to furnish to apply for a loan through MoneyTap:

  • PAN card number
  • Your company name and e-mail address
  • Professional selfie (Taken on MoneyTap app)
  • Bank statement and account detail
  • Identity proof: Any one of – driving license, passport, Aadhaar card
  • Address proof: Any one of – driving license, passport, voter ID card, Aadhaar card

MoneyTap features and benefits

Applying for a personal loan through MoneyTap has a wide range of benefits:

  • Customized loan amount: With MoneyTap, you can borrow loan amounts ranging from as low as Rs. 3,000 up to Rs. 5 lakh in the form of a wedding loan, travel loan, medical loan, education loan, two-wheeler loan, laptop loan, mobile loan, home renovation loan, consumer durable loan and debt consolidation loan.  
  • Flexible withdrawal: MoneyTap offers flexibility in the way the loan amount is withdrawn. You have the freedom to withdraw the entire approved limit or only the amount you require. 
  • Rechargeable credit: After paying off the borrowed amount, you qualify for a top-up loan and get the flexibility to withdraw loan multiple times.  
  • Interest applicable only on withdrawn amount: Interest rate is applicable only on the loan amount used; there will be no interest rate on the unused loan. 
  • Flexible repayment tenure: MoneyTap personal loans are offered for 2 to 36 months, and you can repay the loan over a repayment tenure of your choice. 

How to apply for a personal loan on the MoneyTap app?

Take the following simple steps to apply for a loan on the MoneyTap app.

Step 1: Download the MoneyTap app from the Google Play Store. Provide the basic details about yourself to know your eligibility for a loan in real-time.

Step 2: Once you apply for a loan on MoneyTap, it will send a loan executive to collect your KYC documents for final approval. 

Step 3: You can access the credit line anytime, anywhere, once it gets the final approval. There is no restriction on the end-use of the borrowed amount.

You can repay the loan over a repayment tenure ranging from 2 months to 36 months as per your convenience. 

apply instant personal loan

Types of MoneyTap loan

MoneyTap offers different types of personal loans easily accessible to customers from anywhere at anytime. Here are the types of MoneyTap Loan:

MoneyTap App

In association with multiple banks and other financial institutions, MoneyTap is the first credit line based instant loan app. You can get an instant loan anytime, anywhere with zero collateral. It is the best app where you have to pay interest only on the withdrawn loan amount. Apply for a loan on the app and get approval in 4 minutes. On MoneyTap, you can get an instant loan starting from Rs. 3,000 to Rs. 5 lakh with interest rates starting from as low as 13% to 24.3% p.a.  

How MoneyTap personal loan is better than others

  • Interest rate is applicable only on the borrowed amount, no interest on unused amount.
  • No cost EMI for 3 months for shopping on
  • Once the loan is disbursed, you can use any amount of credit you want from your available line of credit.
  • Instant loan with 100% paperless process without visiting the lender. 
  • Flexible EMI tenure ranging from 2-36 months. 
  • Collateral-free personal loan app

Money tap customer care number

If you have any query regarding MoneyTap instant loan, you can contact to MoneyTap customer care at


Q1Can I get a personal loan without a bank account?
While applying for a loan on MoneTap app, you need to provide your account details. You can’t get a personal loan without a bank account.
Q2What is the minimum loan amount I can get from MoneyTap?
With MoneyTap, you can get a loan amount as little as Rs. 3,000. However, if you get a higher amount, interest will be charged only on used amount.
Q3What is the difference between flat and reducing interest rates?
Flat interest rate is calculated on the entire loan amount over the life of a loan instead of the outstanding principal. Whereas, a reducing interest rate is calculated on the outstanding amount after every repayment.
Q4What are the eligibility criteria to get a credit facility on MoneyTap?
Any salaried professional aged between 23 years and 55 years whose monthly in-hand salary is Rs. 20,000, or self-employed professionals like a doctor, lawyer, chartered account, etc. whose minimum income is Rs. 20,000 per month can access credit facility on MoneyTap.
Q5How do I pay back the loan on MoneyTap?
Based on the loan amount, your EMI is decided. You may choose to pay the EMI through cheques or online modes. Auto-debit facility is also available on MoneyTap.
Q6Can I get a credit facility through MoneyTap?
The company considers various factors such as your income, credit score and your profile to offer you a line of credit. Based on these factors, the lender decides to increase or decrease your credit line.