So, How does Rental Deposit Loan work?
Renting a new apartment means hassle. Right from searching to shifting in new accommodation. Expenses can be overwhelming. With an Overdraft facility repayment plan, moving cities and changing homes has become easy as Rental Deposit loan helps solve financial worry for the security deposit of rented properties.
Why take Rental Deposit Loan from LoanTap?
Instant approval & disbursal
Easy online process for loan sanction and fast disbursal within 24-36 hours
Flexible Repayment Option
Flexibility to switch to EMI free loan, enhancement and accelerated repayment option after 6 months of disbursal
Higher Loan Amount
Option to choose from amount ranging from INR 50,000 to INR 10,00,000 basis your requirement
Longer Loan Tenure
Flexibility to choose longer loan tenure from 6 months to 60 months making EMIs more affordable
We collect only what is basic minimum for all our custom personal loan products
No hidden charges, No pre-payment charges and secured processes
Basic Eligibility Criteria for availing Rental Deposit 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 Rental Deposit Loans with LoanTap
- PAN Card
- Salary Slips (Last 3 months)
- Salary Account Bank Statement (3/6 months)
- Address Proof
Personal Loan Product Suite
Flexible Repayment options
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.
0 Usage, 0 Interest. You are required to pay only interest on the amount withdrawn from the sanctioned credit limit while the Principal amount can be repaid and withdrawn within the sanctioned tenure multiple times. Ideal when: The amount of expenses involved in an event are variable.