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Rental Deposit Loan:
LoanTap is first to launch Rental Deposit Loan facility. It is interest servicing only product for security deposit purpose. Principal payment directly goes to landlord and is returned to LoanTap upon termination of lease agreement.
Tenant, the borrower, has to pay only the monthly interest amount for the tenure of lease. The borrower can now invest the money in lucrative options, instead of locking it down as security deposit.
High Security deposit & Tenure as per lease agreement:
LoanTap offers Rental Deposit Loan between Rs 1 Lakh to Rs 5 Lakh. However, the final loan amount is decided basis one’s eligibility and credit checks.
The loan tenure is from 11 months to 33 months.
Interest Rates & Other Features:
Avail EMI Free Loan at as low an interest rate as 1.5% per month, which translates to 18% APR. Our loan’s other features:
- Fast disbursal
- Low instalment
- Keeps savings intact
- Helps you choose a house you desire