Download the Instant Loan App & Apply Now!

Are you facing a financial crisis? Do you need instant cash? Your search ends here. We understand how complicated the process of taking a personal loan can be and have launched an instant loan app to make the loan available instantly. LoanTap offers all types of personal loans and financial solutions to customers. The individual will find it easy to use the mobile app to get an instant loan. In just a few steps, any person can avail of a loan to fulfil their financial needs.

LoanTap is a non-banking finance company (NBFC) that uses the latest technology to offer financial services digitally. The real challenge was designing financial products that meet the needs of all types of customers. So, we have flexible loan products that are accessible and suitable to meet various life stage requirements.

What is an Instant Loan?

An instant loan helps you to get the immediate funds in your hands. It can cover from temporary cash crunch to severe financial emergencies. There is no need to worry about arranging instant cash for unexpected expenses. Borrowers will have a seamless experience by acquiring and repaying a loan effortlessly.

It offers a convenient and quick process to get a loan with reasonable interest rates. Instant personal loans are generally short-term loans with easy repayment options. You can request a personal loan online through the mobile application. It is a far better solution for financial needs, such as medical emergencies, home renovation, child fees, weddings, etc.

Why Choose LoanTap Instant Loan App?

Instant Loan credits the amount into your account within 24 hours. You don’t have to wait more than a week to get the loan approval. LoanTap is a trusted platform to apply for a personal loan online when you need urgent cash. Why should you consider LoanTap as your lender?  Here is the list of reasons to clear all your doubts:

1.    Higher Loan Amount: Buying a gadget or holding a wedding party may require a large sum of money. So, borrowers will get a chance to choose the amount between INR 50,000 – INR 10,00,000. Remember that the amount may vary depending on your financial capacity and tenure.

2.    Quick Loan Disbursal: You have a sudden financial emergency. Your savings are not enough to cover it. A quick loan from LoanTap will provide you with a loan on the same day. However, a borrower must have a good credit history to get instant loan disbursal.

3.    Secure Payments: Borrowers are concerned about the security of their bank and personal information. LoanTap provides a secure connection while submitting the details online.

4.    Flexible Repayment Selection: You can select the EMI based on the amount you want and tenure to make all the payments. It reduces the stress of paying the loan amount in higher monthly installments.

5.    Paperless Loan Process: Instant loan app has eliminated the need to go to the banks and submit countless papers. Now, borrowers can upload the scanned required documents for availing of a personal loan.

6.    Easy to access: LoanTap has launched its mobile app to reach a wider audience. It means any individual can use the app and check out the information. You can easily compare each loan

7.    No Extra Charges: With a personal loan, it doesn’t require borrowers to pay any extra charges. If you close the loan within six months, you will be asked to pay prepayment and foreclosure charges. Otherwise, there will be no prepayment charges.

8.    Affordable interest rates: Instant loan is available at lower interest rates. You should have a steady income and a good credit score to get the low instant loan interest rates.

Benefits of using an instant loan app

No Restrictions on usage: There is complete flexibility on the usage of funds. You will not be required to give any explanations and you can use the funds for any legal purpose.

100% Online Process: The instant loan app provides all features using the latest technologies to make getting a loan a smooth experience.

Instant Loan EMI calculator: Skip the manual calculations. Use the EMI Calculator to determine your repayment amounts, interest charges, and more. An Instant loan EMI calculator is your reliable tool to calculate the EMI in just a few minutes and some simple steps.

Instant Approval: With the instant loan app, you will get the loan approval in just a few hours. This digital platform gives all financial services at your fingertips. All you need is the required documents to get the amount you want.

24 X 7 customer supports: It is the best thing about choosing an instant loan app. It offers 24 hours customer service for the entire week. Customers can directly contact and interact with LoanTap representation through the app. There is an option of live chat to assist when you need financial assistance.

Who can apply for the Instant Loan App?

Any individual can opt for personal loans with affordable interest rates. Whether a salaried professional or business owner, you can apply for funds when you have unplanned emergencies. But, qualify for the loan by passing the following eligibility criteria:

·   Applicant should be an Indian Citizen.

·   Age should be 21 or above.

·   An individual should have a net monthly income of INR 30,000/-.

·   Credit score should be 630 or more

Borrowers should meet all these conditions to get instant loan approval. Personal Loan is also for low salaried professional, but they should at least have a credit score. You are more likely to get instant loans at lower interest rates if you have a high monthly income. After qualifing the eligibility criteria, the next thing is to collect the documents.

Documents Required for Instant Personal Loans

If you need urgent money, accessing a personal loan is way easier. It offers a paperless loan process that requires a few documents to sanction the loan. Check the list of all the documentation before requesting for online loan:

·   PAN Card

·   Address Proof

·   Salary Slips for the latest three months.

·   The last six months’ bank statement.

Upload these documents while filling out an application. Verify the documents thoroughly before you upload them up. At least, you should go through all the details and check whether they are accurate.

Steps to Complete the Online Process for an Instant Loan

You can get any loan from your home or office hassle-free, all on your smart phone. Here is the step-by-step process to complete the online loan application from your mobile phone.

1. Install the LoanTap app from the Google Play Store and sign up using your email address.

2. Search for the instant loan option and click on apply now!

3. Choose your occupation and fill in the employment details.

4. Enter your email address and phone number for further contact.

5. Upload the documents mentioned above.

6. Wait till the KYC process is completed.

7. With verification, you get the message of the loan approval on your Email ID. The loan amount will be credited to your bank account.

You can use the loan amount for various purposes. There will be no limit on the number of transactions and how much money you spend. While following the process, enter the details carefully so it does not create any obstacle in the loan approval.

Interest Charges and Other Fees

·   Processing Fees: No need to give any charges before applying for the personal loan online. The loan process on the LoanTap is transparent. Only 2% of the amount will be debited while processing the loan.

·   Interest Charges: Instant loan is a cheaper financing option for salaried professionals and self-employed. It charges interest rates starting from 18% per annum. It is much lower than the interest on credit card outstandings. You can consider an instant loan to reduce the burden of paying higher interest rates.

·   Pre-payment Charges: You can pre-pay the loan after six months of the loan disbursement. No charges are applicable to the prepayments. However, if you want to prepay within six months, prepayment penalty will be charged on the principal outstanding.

·   Loan Foreclosure: You don’t want the loan anymore! Well, you can exit it. So, there is an option to foreclose the loan after six months of disbursement without any charges.

Reasons to Get Instant Loan through LoanTap App

Getting an instant loan provides you with financial access. There are many reasons for which you can apply for a personal loan. But, you should know for what purpose you need money. It will give you an idea of EMIs and allow you to plan expenses. You can take if you want:

1. Expand the business for more sales and reach new markets.

2. An expensive gadget or gift for you or your loved ones.

3. Fill the gap of financial obligations comes when you are going for higher education.

4. Buy an online course to upgrade your knowledge.

5. Pay the medical bills or take any medical treatments for fast recovery.

6. Consolidate other loan debts or credit card bills to improve credit score.

7. Pay the rental deposit for a new house or an apartment.

8. Renovate your home to give it a cozy and stylish look.

Loan Tap’s instant loan app is the trusted and secured solution for small and medium-sized businesses. It comes in handy when you are struggling with a financial crisis. With 24 x7 services, you can consider LoanTap as your financial partner in an emergency. Visit the Google play store and download the app now for instant disbursal.