So, How does Personal loan work?

We understand your emergency and therefore, have made Personal Loan available a few clicks away. Besides quick disbursal, we also ensure higher loan amounts with easy repayment options and desired flexibility. Check your eligibility for a Personal Loan online and instantly by getting started.

Why take Personal Loan from LoanTap?

Unplanned expenses, medical emergencies or any such situation can crop up unexpectedly. You may not have sufficient funds to meet this requirement. But keep your worry aside. LoanTap’s Personal loan is available online, instantly and through a transparent process as you like it.

Instant approval & disbursal

Instant approval & disbursal

Easy online process for loan sanction and fast disbursal within 24-36 hours
Flexible Repayment Option

Flexible Repayment Option

Flexibility to switch to EMI free loan, enhancement and accelerated repayment option after 6 months of disbursal
Higher Loan Amount

Higher Loan Amount

Option to choose from amount ranging from INR 50,000 to INR 10,00,000 basis your requirement
Longer Loan Tenure

Longer Loan Tenure

Flexibility to choose longer loan tenure from 6 months to 60 months making EMIs more affordable
Minimum documents

Minimum documents

We collect only what is basic minimum documents for all our custom personal loan products
Transparent Process

Transparent Process

No hidden charges, No pre-payment charges and secured processes
Basic Eligibility Criteria for availing Loans with LoanTap
  • Individuals with a minimum monthly income of INR 30,000
  • Indian citizens/residents who are 21 years and above
Basic Documents required for availing Loans with LoanTap
  • PAN Card
  • Salary Slips (Last 3 months)
  • Salary Account Bank Statement  (3/6 months)
  • Address Proof

Personal Loan Product Suite

No matter what your requirement, use LoanTap’s Personal loan to fulfill all your needs.

Flexible Repayment options

Final installment options for a loan will be decided based on your profile and inputs.

Term Loan

Repayment done via Fixed Equated Monthly Installments, where EMI=Principal + Interest.  Each Installment reduces both interest and Principal amount.  Ideal when: You know the precise Loan Amount needed and your income is consistent.
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Your Personal Loan, Your Way!

Avail our personal loans through your preferred platform and enjoy unmatched convenience at your fingertips…

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Frequently Asked Questions

Any individual with a monthly income more than Rs 30,000 can apply online and check eligibility at You will need to fill in a few basic information to know your basic eligibility instantly. Final loan amount is decided on the basis of your eligibility and credit checks.

We need below documents for processing your loan request- PAN, Address proof, 3 months’ pay slips, 6 month’s salary account bank statement. However, we might request for other documents if need arises during credit checks.

We offer personal loans from Rs 50,000 up to Rs 10 Lacs. Final loan amount is decided on the basis of your eligibility and credit checks.

Personal Loan is available in cities where LoanTap is operational. Currently we are providing our loans in Bangalore, Hyderabad, Chennai, Coimbatore, Mumbai, Pune, Ahmedabad, Vadodara, Raipur, Bhopal, Indore, Jaipur, Delhi-NCR, Ajmer, Lucknow, Mysore, Visakhapatnam, Kolkata, Howrah, Bhubaneshwar, Patna, Nagpur, Nashik, Rajkot, Surat and Chandigarh locations.

We have a very quick and efficient underwriting system which ensures that we deliver to you on time. It usually takes from 24 hours to 36 working hours; provided all documentation and credit checks are in place.

For Short Term Personal Loan, it is minimal. For example, for Personal Loan of Rs 1 Lakh and for 60 months tenure, difference between EMIs at 14% and 18% interest rate is approx. Rs 213 per month. Check our Personal Loan EMI Calculator for further clarity on the subject.

Processing fee for this loan is 2%+applicable taxes; on the gross loan amount sanctioned.

Yes, you can make higher payments towards your loan. No charges for higher payments or foreclosure are applicable post 6 months. Within 6 months you can make part payments or foreclosure-with minimal charges applicable.

Yes, you can pre-pay the loan facility post 6 months of disbursement. No foreclosure charges are applicable post 6 months of loan completion, however within 6 months you can prepay your loan with minimal charges.