This article is based on LoanTap – Quick, Flexible Personal Loan App & LoanTap – Offer instant personal loan with EMI.
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LoanTap – Offer instant personal loan with EMI |
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| 1 | Interest Rate – 14% to 18% annually |
| 2 | Loan Amount – Rs 50,000 to Rs 10 Lakhs. |
| 3 | Processing Fee – 2% + GST |
| 4 | Tenure – 6 months to 60 months. |
LoanTap – Quick, Flexible Personal Loan App Review
Table of Contents
LoanTap provides personal loans to its customers through an online platform and the loan amount is disbursed through an internal NBFC (non-banking financing company). Although this financing plan does not require the collaborator to provide any collateral or third-party guarantee, the client may be requested to provide it in special circumstances.
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How much Personal Loan can I get from LoanTap App?
LoanTap Provide to their user’s Personal loans from Rs 50,000 up to Rs 10 Lacs. You can use this money for Medical Emergency, Wedding, Education, and many other things. By the way, the final exact number depends on the credit score of the Applicant.
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How much time does it take for Personal loan approval by LoanTap App?
Once you submit your Basic details like Address Proof, Photo, Aadhar Number, LoanTap takes only 24 to 36 hours to process your loan application to disburse your loan.
LoanTap App – Eligibility Criteria for Personal Loan
Here are the short eligibility criteria for the people who want to take Personal Loan from LoanTap app or Loan Tap offer.
- The age of the Applicants must be a minimum of 21 years old.
- The applicant must be an Indian Citizen.
- If you are salaried or self-employed or Business owner, must have a minimum income of INR 30000.
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LoanTap App – Interest rate for Personal Loan
The interest rates for LoanTap loans range from 14% to 18% annually. In addition, you can also check out their Personal Loan EMI calculator on their official site.
LoanTap App – Documents required for Personal Loan
These are the required documents you need for Personal Loan in LoanTap app.
- PAN Card
- Address proof (Aadhar Card / Voter ID Card/ Driving License / Passport )
- Last 3 months’ payslips
- Latest 6 month’s salary account bank statement
- e-NACH mandate form
Who can take Personal Loan from LoanTap App?
Every eligible person can take a Personal Loan from the LoanTap app. Basically, if your age is minimum 21-year-old and minimum monthly income 30000, you can get this.
How to get a Personal loan from LoanTap App?
After installing the LoanTap app from the Google Play Store, people can easily get it from the app, if they are eligible to get it. If eligible, simply register yourself and upload the required documents and complete the further process. Once it is done and approved, the Loan amount will be credited to your bank within 24 to 36 hours.
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How to apply for a Personal loan in LoanTap App?
Here is the step-by-step process of applying for a Loan Application in the LoanTap app.
| 1 | Fill out the online application form with the required details. |
| 2 | Upload a digital copy of the required documents |
| 3 | Schedule a visit from a company representative at a convenient time. |
| 4 | Download documents according to the checklist provided by the provider. |
| 5 | Sign and hand over the required documents to the officer. |
| 6 | Documents will be verified by the issuer before approval. |
Once the loan is approved, the funds will be disbursed to the active bank account of the borrower.
LoanTap App – Feature and Benefit
- Loan Amount: The maximum amount of a personal loan that a customer can get is from Rs 50,000 to Rs 10 lakh.
- Repayment Term: The repayment period of this type of loan is from 6 months to 60 months.
- Online Application Process: When a person opts for a personal loan from Lontap, he can apply through the online platform provided by the company.
- Custom-made loan solution: After applying for a LoanTap personalization, applicants will receive personalized quotes according to their specific credit needs, individual repayment capacity, and unique circumstances.
Content Source: Google Play Store LoanTap App