LoanTap Instant Personal Loan App : LoanTap caters to the financial needs of working professionals with its instant personal loan app, ensuring a hassle-free experience with minimal paperwork and no collateral requirements.
LoanTap Instant Personal Loan App
Loan Features:
- Loan Amount: Range from ₹50,000 to ₹10,00,000.
- Eligibility: Requires a minimum monthly salary of ₹30,000.
- Application Process: Streamlined for quick approvals and disbursals.
- Loan Types: Offers various options including Personal Loan, EMI Free Loan, Rental Deposit Loan, etc.
- Advantages: Customized loans, secure data handling, instant approval and disbursal, user-friendly interface, transparent process, flexible repayment, and minimal documentation.
Personal Loan Details:
- Interest Rates: Start from 16% to 24%, with a maximum APR of 29%.
- Loan Tenure: Minimum 12 months to maximum 60 months.
Example:
- Loan Amount: ₹1,00,000
- Tenure: 36 months
- Interest Rate: @18%* (reducing basis)
- EMI: ₹3,615
- Total Interest Payable: ₹30,140
- Processing Fee (@ 2%): ₹2,360
- Disbursed Amount: ₹97,640
- Total Amount Payable: ₹1,30,140
- Total Cost of the Loan: ₹32,500 (Interest + Processing Fees)
Eligibility and Documentation:
- Eligibility: Minimum monthly income of ₹30,000, age 21 years and above, Indian resident/citizen.
- Documents: PAN card, salary slips (last 3 months), salary account bank statement (3/6 months), address proof.
How to Apply:
- Download LoanTap from the Play Store or App Store.
- Choose the desired loan type.
- Submit required documents and complete KYC.
- Upon approval, funds will be disbursed to your bank account.
Operating Cities:
LoanTap operates in cities such as Ahmedabad, Bangalore, Chandigarh, Delhi/NCR, Mumbai, Pune, and more.