Experience seamless online personal loans with LoanTap’s team that uses cutting edge technology to deliver fastest loans online.
EMI Free Loan:
A tailor made personal loan that helps lower monthly instalment up to 40%. One pays only interest on the total loan amount on a monthly basis.
The principal amount remains unchanged until bullet payment is made. Once partial bullet principal payment is realized to loan account, the total outstanding loan balance reduces and fresh interest calculations are affected based on new outstanding amount.
It is an unsecured loan and doesn’t require collateral as security except under special circumstances. LoanTap disburses loans from its in-house RBI registered NBFC.
High Loan Amount & Long Tenure:
LoanTap offers EMI Free Loan between Rs 1 Lakh to Rs 10 Lakh. However, the final loan amount is decided basis one’s eligibility and credit checks.
The loan tenure is from 6 months to 5 Years. Our loans are long term with a minimum repayment period of 6 months, post which foreclosure can be done without any additional charges
Interest Rates & Other Features:
Avail EMI Free Loan at as low an interest rate as 1.5% per month, which translates to 18% APR.
Example - For a loan of Rs.1,00,000 & tenure of 60 months, interest applicable is 18% per annum, one is accountable to pay 'only interest' of Rs.1500 for first five months, and the bullet amount of Rs.10,000 + interest would be payable the sixth month. The bullet payment of Rs.10,000 will reduce the principal outstanding thus, interest will be calculated on Rs.90,000 from the following month, further reducing the interest outgo towards the loan
Our loan’s other features -
- Fast disbursal
- Low monthly instalment
- No foreclosure and prepayment charges