What seemed like a distant possibility a few years ago is a reality now. RBL offers the MoneyTap credit card that comes with a unique feature called the MoneyTap Credit Line that gives the cardholders the flexibility to use credit as they like. They can use the MoneyTap App on their phone to transfer money to their bank account and use the RBL MoneyTap credit card to pay for their purchases.
How Does The RBL Moneytap Work?
Cardholders can use the RBL MoneyTap credit card in the following ways:
Cardholders can use this card as any other credit card and swipe it while paying for products and services online as well as at stores.
They can download the MoneyTap app on their phone and transfer money from the app to their bank account instantly.
Features and Benefits of RBL MoneyTap Credit Card
The RBL MoneyTap comes with a plethora of useful features and benefits some of which are listed below:
This card is equipped with the unique MoneyTap Credit Line facility that enables the cardholder to use credit as they like. They can use the MoneyTap app to transfer funds to their bank account and use the RBL MoneyTap credit card to make purchases.
Cardholders can avail a credit limit of a minimum of Rs.3,000 and a maximum of Rs.5 lakh.
Cardholders have to pay an interest only if they transfer money or use EMI conversion. The leftover amount is available to the cardholder at no extra cost.
Cardholders can avail a tenure of their choice that can vary from 2 to 36 months.
This card doesn't require any collateral or guarantors.
Cardholders can use this card to shop online or swipe it at a merchant store and can just tap to transfer money instantly to their bank account.
Cardholders can keep a track of the EMIs and credit limit using the app.
Whenever the cardholder pays back an EMI, the credit limit on their card is topped up by the same amount.
Fees and Charges of RBL MoneyTap Credit Card
Fees and Charges
Rs.499 plus GST
Rate of Interest
Varies from 1.25% to 1.5% per month
Up to Rs.5 lakh
Rewards of RBL MoneyTap Credit Card
Cardholders can make use of the attractive reward system that the RBL MoneyTap credit card entails. Listed below are the details on the same:
Cardholders can earn 1 reward point each time they spend Rs.100 on all their purchases including groceries, travel, dining, and even their electricity bill.
Cardholders can bag a welcome bonus of 2,000 reward points on procuring card.
They can earn 20 reward points on spending Rs.100 on groceries every Wednesday.
Under the accelerated reward point system, cardholders can earn 40 reward points on spending Rs.100 on pizzas on every Wednesday.
How to apply RBL MoneyTap Credit Card
The applicant needs to download the MoneyTap app from the Android Play Store or the Apple Store and follow the steps listed below:
They need to upload photographs of themselves, their PAN card, and their residential address as eKYC documents.
Next, they will need to fill in details about their current job, name of the company they work for and the category it belongs to between private and public sector.
Once they fill the above-mentioned details, they will need to review the details and then submit the application.
Next, the applicant will be sent a link on their registered Gmail ID for them to upload their bank statements.
Once they click on the link, they will be redirected to a secure web portal to upload their bank statements. Applicants can upload their bank statements using their laptop, desktop, smartphone, or tablet.
Next, they will be directed to a page where they will need to fill in details including their salary account number, the name of their bank, and the date range of their bank statements.
Eligibility of RBL MoneyTap Credit Card
Any salaried employee with a monthly income of more than Rs.20,000 can avail a loan using the RBL MoneyTap credit card.
Documentation required for RBL MoneyTap Credit Card
Applicants will need to upload the following documents to procure this service:
Copy of their PAN card.
Copy of proof of residence like electricity bill or phone bill.
Photograph of the applicant.
Latest statement of bank account.
FAQs of RBL MoneyTap Credit Card
Can I avail an add-on card with the RBL MoneyTap credit card?
No, there is no provision of an add-on card with the RBL MoneyTap credit card.
Are there any hidden charges involved in the procedure of availing credit?
No, there are no hidden charges involved in the process of availing credit through the RBL MoneyTap credit card or the credit line.
What are the other benefits of the MoneyTap app?
You can use the app to keep a track on your transaction history, payment due dates, and your upcoming EMIs.
Can I convert the expenditure made on the card into EMIs?
Yes, you can convert the expenditure made on the card into EMIs.
Can I download the MoneyTap app for free?
Yes, you can download the MoneyTap app for free from Google Play Store.
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.
I have ICICI bank credit card which was offered through Bank .I am using this credit card for the past 6 months and the credit limit was really good and it was sufficient as well .This was a free card and there are good reward points as well as cash back offers .I have got the credit card on time without any delay .
I am using RATNAKAR bank Bajaj credit card for more than a year which was applied through an other channel. It is an annual fee chargeable of 1000 rupees. The credit limit is given for 45 thousands which was sufficient. There is an EMI option but charges are high 23%. I use this card for shopping and get reward points.
I have HDFC Bank credit card which was applied through Bank directly .The credit limit was really good and it was sufficient as well and got all the details about the card process very clearly through the agent.This was a free card and got the card on time .Customer service is also good and getting good response if contact for any query .
I have State Bank Of India credit card which was applied through Bank directly and got it .I am satisfied with the credit limit and got all the details about the card process very clearly through the agent.This was a chargeable card and got the card on time .Customer service is also good and getting good response .
I am using ICICI Bank credit card which i am using for more than 2 years .I have taken this credit card through bank directly.This was a free card and got the details about the card process through the agent.I have got very good credit limit and this card is good to use .I am very much comfortable with the service so far .
I am using Axis Bank credit card which i am using for more than 2 years .I have taken this credit card through bank directly.This was a free card and got the details about the card process through the agent.I have got good credit limit and this card is good to use .I am satisfied with the service so far .
I am satisfied with Bankbazaar's service. Bankbazaar is helping me a lot to get credit card. I had come to know about Bankbazaar from Google. I have downloaded their mobile application. I am receiving update credit score and I can check loans and credit card offers.
I applied for HDFC BANK MONEYBACK CREDIT CARD. I submitted my documents online. They have closed my application as my credit score is very low. I tried 2-3 times for credit card. My salary account is with HDFC Bank still they are rejecting my application.
I have State Bank Of India credit card which was taken through Bank directly.I am using this credit card for the past 2 years ,This was a life time free card and satisfied with the credit limit as well.There are reward points but no cash back offers .The service was really good and i am very much comfortable to use this card .
I have HDFC Bank credit card which was taken through Bank directly.I am using this credit card for the past 4 years ,This was a free card and i have got a very good credit limit it was upto 1lakh .There are good cash back offers and reward points .I am using this card for mostly for online purchase and i am getting good offers as well.
Was this review helpful?
Reviewed on Sep 21, 2019
I am using Axis Bank credit card which was taken through Bank directly .I am using this credit card for the past 1 year .The credit limit was really good it was upto 40,000 and it was very much comfortable as well.This was a chargeable card and having good reward points as well as cash back offers.
I have been using Bankbazaar's mobile application for a long time. I am using it to my account details, loans and credit card offers. I am really satisfied with their services. I have come to know about Bankbazaar from a promotional message.
I have HDFC Bank credit card which was offered through Bank .I am using this credit card for the past 1.5 years.The credit limit was good and it was acceptable as well. There are really good reward points as well as cash back offers ,This was a free card and it is very easy to use and it was smooth as well .
I had applied a MONEYBACK CARD from HDFC Bank. I had arranged the documents to submit. I called them many times but their number was not reachable. I just spoke to them one on the phone once. One of their executives told me that they don't give loan to security guard.
I have been using Bankbazaar's service for the last 2-3 years. I have downloaded their mobile application to check credit card offer and loans. It's very useful. I had come to know about Bankbazaar when I received a promotional message to check credit score.
I had applied HDFC BANK MONEYBACK credit card. Their executive called and informed me that my application has been closed because my employer is not private limited. I submitted my documents online. Their customer service was good, they gave me proper information.
Last two years I am using SBI simply save card, its easy to access any where either in all the swiping machine. It has yearly fee around Rs.2500, they have airport lounge, travel discounts, they do have cash back at amazon, flipkart and other sites.
I have HDFC Bank credit card which was taken through Bank.I am using this credit card for the past 1 year .This was a free card and the agent gave all the information about the card process.I have got the credit card on time and the credit limit was good .I have not submitted any documents since it was a paperless approval .
My master privilege card has yearly fee of Rs.1500, Its a basic card for regular usage. Some time I get fuel surcharges around 2% but its not so beneficial , I am getting reward points based on my spend. For 100 rupees I get 4 points is equal to one rupee.
AXIS bank upgraded my credit card feature in my seven years of experience, earlier I had my zone card now I got classic signature card it has yearly fee of Rs. 5000, they give same value of Rs.5000 cash back for shopping purpose like big bazaar and they do have airport lounges, air miles.