MoneyTap, now known as the Freo Credit App, offers a flexible personal credit line for salaried individuals who need quick access to funds. The available credit limit ranges from ₹3,000 to ₹5,00,000.
Interest rates start from 12% p.a. or 1.25% per month, with repayment tenure ranging from 3 to 36 months. One of the main features of MoneyTap is that you pay interest only on the amount you withdraw, not on the full approved credit limit.
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MoneyTap Personal Loan Details
You can apply for a MoneyTap Personal Loan online through a digital application process.
Here are the main loan details:
| Feature / Detail | Specification |
| Personal Loan Interest Rate | Starting at 12% per annum (1.25% per month) |
| Loan Amount | ₹3,000 to ₹5,00,000 |
| Tenure | 3 to 36 months |
| Minimum Monthly Income | ₹30,000 per month (Salaried only) |
MoneyTap Personal Loan Interest Rates
MoneyTap Personal Loan interest rates depend on factors such as your credit profile, loan amount, and repayment tenure.
| Parameter | Rate / Detail |
| Annual Interest Rate (APR) | 12% to 36% per annum |
| Monthly Interest Rate | 1.25% to 3% per month |
MoneyTap Personal Loan Fees & Charges
Before applying for a MoneyTap Personal Loan, check the processing fee, setup fee, foreclosure charges, and late payment charges.
| Fee Type | Amount / Percentage |
| Processing Fees | 0% to 7% (typically 2% to 3.5% for loans ≥ ₹25,000) |
| One-Time Setup Fee | ₹199 to ₹999 (+ GST) |
| Tenure Options | 3 to 36 months |
| Loan Amount Range | ₹3,000 to ₹5,00,000 |
| Foreclosure Fee | NIL |
| Late Payment Fee | 15% on the amount due |
MoneyTap Personal Loan Eligibility Criteria
You need to meet the basic eligibility requirements before applying for a MoneyTap Personal Loan.
| Eligibility Criteria | Requirement |
| Age | 23 years of age and above |
| Credit Score | 600 and above |
| Income Level | Minimum ₹30,000 per month |
| Employment Type | Salaried employees |
Documents Required for MoneyTap Personal Loan
Keep the following documents and details ready when applying for a MoneyTap Loan:
- Proof of Identity: PAN Card, Aadhaar Card, Driving License, Voter ID, or Passport.
- Proof of Address: Aadhaar Card, Driving License, Voter ID, Passport, Utility Bills, or Bank Statements.
- Other Requirements: Passport-size photograph or selfie, company name, email address, and internet banking account details.
- Verification: E-sign the application using the OTP sent to your registered mobile number.
*Applicable only to Indian residents.
Apply for a Personal loan now!
Calculate EMI For MoneyTap Personal Loan
You can use a Personal Loan EMI Calculator to estimate your monthly repayment before taking a MoneyTap Personal Loan.
Enter the following details:
- Loan amount
- Interest rate
- Repayment tenure
The calculator will show your estimated monthly EMI and help you plan your MoneyTap Loan repayment.
Compare MoneyTap Personal Loans Over Other NBFCs
The table below compares MoneyTap Personal Loan interest rates with other NBFCs and digital lenders:
| NBFCs | INTEREST RATE (p.a.) |
| MoneyTap | 12% onwards |
| Paysense | 16.8% onwards |
| HDB Financial services | 11% onwards |
| CASHe | 20% onwards |
| Home Credit | 24% |
| Money View | 14% onwards |
Note: The interest rates mentioned above are subject to change at the lender’s discretion.
Apply for a Personal loan now!
Features & Benefits of MoneyTap Personal Loan
Here are some of the main features of a MoneyTap Personal Loan:
- Credit Limit up to ₹5 Lakh: Eligible borrowers can get a credit line of up to ₹5,00,000.
- Interest Only on Amount Used: You pay interest only on the amount withdrawn from the approved credit limit.
- 100% Digital Process: The application can be completed online without visiting a branch.
- Flexible Repayment Tenure: Choose repayment tenure ranging from 3 to 36 months.
- Reusable Credit Line: As you repay your EMI, the available credit limit is restored automatically.
Types of MoneyTap Personal Loans
Moneytap Personal loans offers various types of loan options to suit your wide range needs and requirements for various purposes. Here are the types of personal loan provided by Moneytap where their flexibility can be used to a great extent.
Personal Loan for Marriage: Don’t worry about the pressure of wedding expenses and be prepared for it financially with a personal loan for marriage loan by MoneyTap. It aims at providing financial support for urgent wedding expenses.
Personal Loan for Travel: With MoneyTap, avail a travel loan for upto 5 Lakhs that too within instant approval. It provides personal loans for travel specifically intended for individuals seeking to finance their vacations.
Personal Loan for Medical Emergencies: When your insurance isn’t able to cover for your medical expenses, that’s the time you should opt for a medical personal loan from MoneyTap. It provides funds for unplanned medical expenses.
Personal Loans for Education: It offers credit facility to assist individuals in managing the expenses associated with their own education or funding the education of their children.
Personal Loans for Buying Used Cars/Vehicles: Now, you have the flexibility to use the funds from MoneyTap’s personal loan for buying a used car or vehicle.
Personal Loans for Buying Two Wheelers: With MoneyTap, you can avail loans upto 5 Lakhs for buying two-wheelers.
Personal Loans for Buying Laptops: Availing a personal loan for buying a laptop provided by MoneyTap will help get your hands on the latest laptop.
Personal Loans for Buying Mobiles: Upgrade to the latest mobile technology effortlessly with MoneyTap’s personal loans tailored for purchasing mobile phones.
Personal Loans for Home Renovation: Now Discover the flexibility and convenience of financing your home renovation project with MoneyTap to bring your vision of creating a perfect living space to life.
Personal Loan for Consumer Durables: MoneyTap offers Consumer Durable Loans to individuals who want to purchase a wide range of consumer products, and essential home appliances.
Personal Loan for Debt Consolidation: MoneyTap provides loans to applicants who wish to merge their multiple loan or credit card obligations into a single personal loan.
Personal Loan for Buying Used 2-wheelers: MoneyTap offers personal loans for individuals looking to purchase used/pre-owned 2-wheelers for up to Rs 5 lakh as line of credit.
How Do You Apply for MoneyTap Personal Loans with Buddy Loan?
Steps To Apply For a Personal Loan with Buddy Loan
- Step 1: Visit buddyloan.com or Download & install the Buddy Loan app (Android or iOS).
- Step 2: Open the Personal Loan Application Page. Provide the mobile number and enter the received OTP.
- Step 3: Specify the desired loan amount & personal email. Next, choose the Personal Loan option
- Step 4: Choose the employment type (Salaried, Self-Employed, or Student) and the salary mode (bank or cash).
- Step 5: Enter your work details (Including company name, years of service and Designation)
- Step 6: Enter your personal details (Including Full Name, PAN, address DOB & Gender)
- Step 7: Provide your communication address, and income details and Click the ‘Submit’ button.
Ready to take the next step? Apply for a Personal loan now!
MoneyTap Loan Repayment
MoneyTap simplifies the borrowing process with effortless ease and convenience. Now it’s time to simplify your loan repayment process as well. Depending on the partner bank that granted you credit, it offers flexible repayment options and tenure, accommodating your needs, including early salary loan repayments and online early salary payment.
MoneyTap Personal Loan Customer Care Number
You can contact MoneyTap or Freo for questions related to your loan application, credit line, disbursal, or repayments.
| Support Channel | Details |
| Customer Care Email | hello@moneytap.com |
| Contact / Helpline Phone | +91 80 4097 4095 |
| Operating Entity | MWYN TECH PRIVATE LIMITED / MYCASH FINTECH PTE. LTD. |
| Official Website | https://freo.money/ |
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