Online Personal loan

A personal loan is a flexible financial instrument that gives you a lump sum amount to cover a range of requirements.

Explore the countless opportunities with the LoanTap Personal Loan. Our personal loan meets a variety of needs, from funding a dream wedding to planning an exotic vacation to covering unforeseen emergencies.

Experience the smooth digital application process where you can obtain a personal loan of up to ₹10,00,000. Enjoy competitive interest rates and the freedom to select repayment terms up to 60 months.

With an instant personal loan, the possibilities are limitless. Apply today and step into a future where your financial aspirations become reality.

How does LoanTap Personal Loan work?

To get a personal loan, submit your application along with all required documents. LoanTap will review the application. Upon approval, the loan amount will be transferred to your bank account within 24-36 hours. You will have to repay the loan in fixed monthly installments with interest over a period of 6 months to 60 months.

Key Features of Personal Loans

Unrestricted Use

Personal loans provide unrestricted use of the funds for any purpose. Borrowers can use the loan amount for anything they want—for example, paying for a dream vacation, paying off medical bills, or consolidating debt.

Swift Disbursal

An online personal loan provides quick fund disbursement with a simplified application process and minimal paperwork. It can be the best option during a crisis and for pressing financial needs.

No Collateral Needed

WSince personal loans are unsecured, collateral is not required. This makes them available to a wider group of people who might not have substantial assets to offer as collateral.hen you take out a personal loan, the lender doesn’t require you to put up any collateral. That means you don’t have to collateralize your car, house or other assets to secure the loan. This can be helpful if you don’t have any equity in your home or other valuable property to use as collateral.

Flexible Tenure

The ability to choose a repayment period that works for one’s budget is a benefit that borrowers can enjoy. This feature allows customized planning and enables easy and manageable debt repayment.

Fixed Interest Rates

With a set rate of interest, LoanTap instant personal loans allow customers to have a predictable monthly payment schedule. Throughout the loan term, this steadiness aids in improved budgeting and financial planning.

Steps to Apply for LoanTap Personal Loan Online

LoanTap provides hassle-free instant personal loans with minimal documentation. Here is the process to apply for Personal Loan


Online Application

Visit our official website or app and fill in the application form. Submit all the required information like some basic details, income details, employment status, and contact details. Along with that, upload all the required documents.


e-KYC and Verification

Now, you’ll be asked to provide your date of birth and PAN card number. Make sure to check the complete terms and conditions before finally submitting the application. After the application form and documents are submitted, we will verify the information.


Fund Transfer

After the verification of the information, you will have to sign the-agreement. After that, we will disburse the personal loan amount to your bank account within 24-36 hours.

Reasons to Choose Online Personal Loan from LoanTap

A personal loan is a great solution for those who are looking for urgent funds. Below are some of the reasons to choose personal loans from LoanTap.

Instant Approval And Disbursal

Instant Approval And Disbursal

Simple online application process and quick 24-36 hour approval and disbursement
Flexible Repayment Option

Flexible Repayment Option

Customize your repayment plan by selecting either EMI free loan or an accelerated repayment option
Higher Loan Amount

Higher Loan Amount

Choose a loan amount according to your requirements, from INR 50,000 to INR 10,000,000
Longer Loan Tenure

Longer Loan Tenure

Enjoy the flexibility of selecting a longer loan term, ranging from 6 months to 60 months, for affordable EMIs
Minimum documents

Minimum documents

We keep it simple with only essential paperwork required for all our custom personal loan products
Transparent Process

Transparent Process

No hidden charges, no prepayment penalties* and secured processes
Basic Eligibility Criteria For Instant Personal Loan
  • Individuals with a minimum income of ₹30,000
  • Indian citizens and residents who are at least 23 years old
  • Individuals must have filed the latest ITR
Basic Documents Required for Online Personal Loan
  • PAN Card
  • Aadhaar Card/Driving License/Passport
  • Bank Statement of the last 6 months

What Our
Customers Say

We continuously strive to provide a
Seamless experience to our customers…

The service provided by Loan Tap is great, everything is seamless and very convenient. Its one of the very best experiences, I’ve had with any loan provider.

You are doing an awesome work as team. Faster service with immediate response is quite amazing. Will recommend to everyone in need, faster documents processing …….Keep up the good work

This is truly awesome service. Associates are very friendly and providing efficient service on time. After documents pickup, within 24 hours net amount was disbursed and that’s what I call efforts reducing service. Thank you LoanTap Team.

Awesome and superfast Service.I have never come across so polite, professional and fast service providers for Loan. I have taken a personal loan and was disbursed within 3-4 hours in my bank account. This was just a superb feeling. Thank you so much LoanTap for a wonderful experience.

Excellent service from all team members. All are supportive. Its different from others NBFCs. Now and in future, LoanTap is my first choice for financial needs.

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EMI Calculator

Plan your instalments better.

Calculate your EMI
Breakup of Total payment

Personal Loan Details

Below are the fees and charges for LoanTap personal loans.

Type of fee
Applicable charges
Rate of interest
Flexi fee
Processing fee
2% + GST
Bounce charges
Rs. 550
Pre-payment charges
4% + GST if foreclosed within 180 days from the date of disbursement post-cooling-off period
Penal interest
36% p.a.
Stamp duty
0.1% of loan amount
Mandate rejection charges
Depends on participating bank
Annual maintenance charges
Broken period interest / Pre EMI-interest
Dynamic value – Depends on loan amount, date of disbursement and first EMI date

Personal Loan Product Suite

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


Personal Loan


EMI Free Loan


Personal Overdraft


Advance Salary


House Owner Loan


Rental Deposit Loan


Holiday Loan


Wedding Loan


Medical Loan


Debt Consolidation Loan


Two wheeler loan


Electric Two wheeler loan


Premium Bike Loan

Flexible Repayment options

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

Term Loan

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

Ans. A Personal Loan is an unsecured loan that provides a lump sum amount for personal use. It is repaid in fixed monthly installments over a specified period. No collateral is required, and interest rates are determined based on factors such as credit history, income, etc.

Ans. The loan amount depends on factors like your income, credit score, and debt-to-income ratio, LoanTap offers personal loans from ₹50,000 to ₹10 Lakh.

Ans. Types of personal loans offered by LoanTap include medical loan, holiday loan, wedding loans, rental deposit loans, personal overdrafts, home renovation loan etc.

Ans. Interest rates on personal loans vary by lender and individual credit profile. Rates usually start at 12% and are influenced by factors like credit score, credit history, job stability, income etc.

Ans. You can use an EMI calculator to calculate EMI amount for instant personal loan, where you enter the loan amount, interest rate, and tenure. Check out the LoanTap personal loan calculator to calculate your monthly EMIs. Alternatively, the formula: EMI = [P x r x (1+r)^n] / [(1+r)^n-1] can help you calculate it manually.

Ans. Personal Loans offer flexibility in end use. Borrowers can utilize the funds for a multitude of purposes, like debt consolidation, home improvements, education expenses, medical bills, or even planning a vacation. There are typically no restrictions on how the funds are spent.

Ans. Collateral, such as a house or car, is needed to get a secured loan. On the other hand, a personal loan, which is an unsecured loan, is easier to obtain because it doesn’t need collateral. However, in this case, the interest rate may be higher as approval is determined by the borrower’s creditworthiness and other factors.

Ans. A CIBIL score of 700 or more is typically regarded as good for personal loan approval with favorable terms, though requirements across lenders may differ.

Ans. To apply for an instant loan online, choose a trustworthy lender, fill out the application, scan and upload the necessary documents, and go through a short verification process for prompt approval.

Ans. Under the Income Tax Act, personal loans are not eligible for any special tax incentives like home loans are. Personal loan interest usually cannot be written off as tax deductible. However, depending on how you utilize personal loans, you can avail the tax benefits on your loan.

Ans. Compare interest rates, processing fees, and loan terms to select the best personal loan available in India. Assess your credit score and eligibility. Make sure to consider hidden charges, repayment flexibility, and customer reviews. Select a reputable lender with transparent policies that align with your requirements.

Ans. Yes, obtaining a personal loan can have an effect on your credit report. While the initial loan application could cause a slight, temporary drop in your credit, timely repayment can eventually improve your score.

Ans. If your application for a personal loan is denied, it may be because you fail to meet the criteria or because your credit score is too low. However, avoid applying for multiple loans as it might harm your credit score. If one is rejected for a personal loan, they should wait for some time, preferably, 6 months before applying for another.

Ans. The approval process for personal loans varies among lenders. LoanTap generally approves personal loans within 24 hours. Traditional banks may take longer. Preparing the necessary documents and maintaining a good credit score can expedite the approval process.

Ans. The duration of a personal loan is usually one to five years. A longer tenure could mean higher total interest payments but lower EMIs.

Ans. Yes, LoanTap allows borrowers to prepay personal loans before the end of the tenure. However, it’s essential to check the terms and conditions, as some lenders may charge prepayment penalties. Repaying early can save on interest costs and improve your overall financial health.