EMI Free Loan - Flexible EMI - Flexible Payments
Reduce your monthly loan re-payment by 40% as compared to Personal Loan
Get a flexible personal loan with an interest only and bullet payment option. Check your rate online with no impact to your CIBIL score.
So, how does EMI Free Loan work?
It is a new kind of personal loan wherein you pay only interest on total loan amount on monthly basis. The principal amount remains unchanged until you make a bullet payment. Once partial bullet principal payment is realized in your loan account, the total outstanding loan balance reduces and fresh interest calculations are effected based on new outstanding amount.
The flexibility of EMI is in your hands and that makes EMI Free Loan, most wanted personal loan from our portfolio.
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Why LoanTap's EMI Free Loan ?
Instant approval and disbursal
Easy online process and fast disbursal of EMI Free Loan within 24-36 hours
We collect basic minimum documents for all our custom loan products
Flexible principal payment leading to better management of monthly cash outflow as compared to fixed EMI based personal loan
No hidden charges, No pre-payment charges. Minimum documentation & secured processes
Eligibility Criteria for EMI Free Loan
Salaried Professional with monthly income more than Rs 30,000
Individual working with a limited/private limited company or in a government job
Check My Instalment
Check your reduced tentative monthly outflow as compared to personal loan by representative loan of Rs 1 Lakh
|Monthly Instalment / Minimum Payment|
|Time to Disburse|
|Bank Loan||LoanTap||Credit Card|
|Rs. 2327||Rs. 1500||Rs. 5000|
|5-7 days||Next Business Day (24-36 hours)||Instant|
|36-48 Months||60 Months||30 days|
|4% after Lock-in||Zero after 6 Months||Nil|
|Check My Rate|
|Monthly Instalment / Minimum Payment||Rs. 1500|
|Time to Disburse||Next Business Day (36 hours)|
|Foreclosure Charges||Zero after 6 Months|
|Check My Rate|
|Bank Loan||Credit Card|
|Rs. 2327||Rs. 5000|
|36-48 Months||30 days|
|4% after Lock-in||Nil|
How we make loans happen in 24-36 hours
Apply online, upload basic documents or mail us
Record your time for representative visit
Download documents as per checklist, sign and handover to our representative.
Verification, sanction and disbursal
We check documents, verify them and activate instant disbursal online