Are you a person searching for an instant personal loan app online for any of your needs? Then, you must hear about moneytap, an online loan application in India that provides personal loans instantly. But many online applications are out there, that commit fraud so we need to be aware of that.
Review Matrix is a genuine platform where you can get detailed reviews about online websites and applications. Today, we are going to review Moneytap, an online loan application. Let’s see whether it’s genuine or if it’s committing any fraud.
MoneyTap App Details
Moneytap is an online loan application available on the Google Play Store with a 4-star rating and more than 1Cr downloads. It is a credit and instant personal loan app in India. It provides loans up to 5 lakhs. It provides loans only to salaried employees. Interest rates lie between 12% to 36% per annum. Its annual percentage rate varies from 10% to 70%. The total time to pay EMIs is 3 to 36 months. Processing fees here are up to 7% and one-time setup fees vary from Rs 199 to 999. It claims to maintain the privacy and safety of your details. So, you can take a loan based on your credit score.
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| Application | MoneyTap |
| Offered By | Freo- Smarter, Better, Bigger Banking |
| Loan Amount | 3,000 to 5lakh Rs |
| Interest Rates | 12 to 36% |
| APR | 10 to 70% |
| Processing Fee | Upto 7% |
| Paytime | 3 to 36 months |
Documents Required to Take Loan
- Aadhaar Number
- Identity Proof
- Address Proof
- Passport Size Photo/Selfie
Also Read – Slice Loan App Review
Pros & Cons Of MoneyTap App
Pros
- Provides instant personal loans on your basic details.
- You have to pay the interest only on the amount you use.
- Flexible EMI & pay later options.
Cons
- A lot of bad reviews on the Google Play Store.
- Some users face difficulty in running the app.
- Bad customer service because you can only contact them through mail.
Money Tap Is Real Or Fake
Moneytap is a genuine loan application that provides loans with flexible interest rates and flexible repayment time. But a lot of users have complained about its customer services and many of them face problems with running the application. So, it can be a nice personal loan application for salaried persons until you face any problems given above.
MoneyTap App Review
Money Tap
MoneyTap is an instant personal loan application running in India and is also available in more than 1200 cities. It is also available on the Google Play Store with a nice rating and provides personal loans only to salaried employees. It provides instant loans based on your profile and credit score. But a lot of users face problems with this application and many bad reviews are also available on Google Play Store. So, if you want to take a loan from this application please read all good and bad things about this. Also, if there is any user please write about your experience in the comment section.
Price Currency: INR
Operating System: Android
Application Category: Finance
3.321
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