LoanTap offers personal loans to its customers through an online platform, and the loan amount is disbursed through an in-house non-banking financing company (NBFC). While this financing plan doesn’t mandate the borrower to provide any collateral or third-party guarantor, a customer might be requested to offer the same under special circumstances.
In order to be eligible for a personal loan from LoanTap, the customer must fulfil the eligibility criteria mentioned in the list below:
The personal loans by LoanTap can availed along with an interest rate that can range from 15% to 24% p.a. The applicable rate of interest for a customer is determined by the company after considering several factors such as income, loan amount, age, credit score, work experience, repayment tenure, etc. Under this financing plan, borrowers might also be charged a small one-time processing fee depending on the loan amount that has been borrowed.
When a person applies for a LoanTap Personal Loan, he or she will receive a personalised quote from the company that will mention the maximum loan eligibility, interest rate, processing fee, maximum loan tenure available, etc. However, the individual can get an estimate regarding his or her loan beforehand using the loan calculator offered by the company. This will not only allow him or her to manage his/her finances better, but will also help him/her decide whether this scheme is the right fit according to his/her specific requirements.
Follow the steps mentioned below to learn how to get a free estimate of your LoanTap Personal Loan:
Step 1: Go to the official website of the company.
Step 2: Click on ‘Personal Loans’ under the ‘Loans’ section present on the navigational tab.
Step 3: Locate the ‘Check My Rate’ button available on the page and click on it.
Step 4: You will be redirected to a page containing the loan calculator.
Step 5: Next, you will have to fill the form on the page with the correct details.
Step 6: Click on ‘Show My Rate’ to generate an estimate.
This calculator will help customers get information regarding their loan eligibility such as maximum loan amount, interest rate offered, processing fees, EMI amount, prepayment charges, and maximum repayment tenure. After the personalised estimate is generated, you can even adjust the loan amount and tenure as per your needs by selecting from the dropdown options available on the top of the estimated loan details. Once this is done, you can apply for this loan by clicking on the ‘Yes, I Would Like to Avail of the Loan’ button present below the details of the loan estimate.
The personal loan application process of LoanTap primarily consists of the following major steps:
Step 1: Filling out the online application form with the required details.
Step 2: Submitting the duly filled loan application form along with digital copies of the necessary documents.
Step 3: Scheduling a visit from a company representative at a convenient time.
Step 4: Downloading the documents as per the checklist offered by the lender.
Step 5: Signing and handing over the required documents to the official.
Step 6: The documents will be verified by the lender before the loan approval.
Step 7: Once the loan is approved, the funds will be disbursed to the active bank account of the borrower.
|Business Name||Loan Tap|
|Phone Number||+91 - 788 804 0000|
|Toll Free Number||NA|
|Official Mail IDfirstname.lastname@example.org|
|Head Office||Corporate Office Hermes Waves, Office No. 103, Central Avenue Road, Kalyaninagar, Pune, Maharashtra – 411006 Registered Office 306, Sangeeta Ramchand (Kartik), CHSL New Link Road, 5 Kartik Complex, Opposite Laxmi Ind. Estate, Andheri (W), Mumbai, Maharashtra – 400053, India|
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.