Personal Overdraft Loan:
A credit line OD is a revolving credit facility available to the borrower and interest is paid only on the amount withdrawn from the credit limit. Customer also has the option of multiple withdrawals and repayments as per his/ her requirement. Unlike competition, LoanTap does not have diminishing line of credit. Unlike credit cards, the interest charged is lower and convenience offered is at par with personal loan. LoanTap disburses loans from its in-house RBI registered NBFC.
High Loan Amount:
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.
Interest Rates & Other Features:
Avail Credit line OD or salary overdraft loan at as low an interest rate as 1.5% per month. Interest is calculated on daily reducing balance method, where the customer needs to pay interest only on the amount utilized/outstanding and as per the number of days of amount utilization. Our loan’s other features are:
- Simple access to your account
- Fast disbursal
- Low instalment
- Easy repayment
- No foreclosure charges after 6 months