MoneyTap Personal Loan: Eligibility Criteria & Interest Rates
MoneyTap personal loan eligibility: minimum salary, CIBIL score, interest rates (10.5%–16%), processing fees, and documentation checklist. Check your approval odds free.
📅 Updated: 2026-06-25✍️ Arera AI Financial Research Team⏱ 3 min read
MoneyTap personal loans offer flexible financing up to ₹40 Lakhs for eligible salaried and self-employed borrowers. With competitive interest rates starting from 10.5% p.a., it is one of the preferred lenders for personal financing in India.
MoneyTap personal loan eligibility requirements:
Minimum Monthly Income: ₹25,000 (₹35,000 for metro cities like Mumbai and Delhi).
CIBIL Score: 720+ preferred; below 680 is typically rejected by automated systems.
Employment Stability: Minimum 2 years total work experience, with 6 months at current employer.
Age: 21 to 60 years at loan maturity.
FOIR: Total existing EMIs should not exceed 50% of monthly net income.
MoneyTap personal loan interest rates and charges:
Interest Rate: Starts at 10.5% p.a.; goes up to 16% based on CIBIL score and employer tier.
Processing Fee: 1% to 2.5% of the loan amount (non-refundable).
Prepayment Charges: 2–4% of outstanding principal (allowed after 12 EMIs).
Late Payment Penalty: 2% per month on overdue amount.
Documents required for MoneyTap personal loan:
KYC: PAN card, Aadhaar card, recent passport-size photograph.
Income Proof: Latest 3 salary slips, Form 16, or ITR for self-employed.
Bank Statement: Last 6 months of the primary salary account.
Employment Proof: Latest company ID card or employment letter.
Parameter
MoneyTap Requirement
Industry Average
Min Monthly Salary
₹25,000
₹20,000 – ₹30,000
Min CIBIL Score
720+
680+
Interest Rate Range
10.5% – 16%
10.5% – 18%
Loan Amount Range
₹50,000 – ₹40L
₹50,000 – ₹40L
Loan Tenure
12 – 60 months
12 – 60 months
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What is the minimum salary for a MoneyTap personal loan?
MoneyTap requires a minimum net monthly income of ₹25,000 for non-metro applicants and ₹35,000 for applicants in Tier-1 cities like Mumbai, Delhi, or Bangalore.
What interest rate does MoneyTap charge?
MoneyTap personal loan rates start at 10.5% p.a. and can go up to 16% depending on your CIBIL score (higher score = lower rate), employer tier (MNC vs. non-listed company), and loan tenure.
How long does MoneyTap take to approve a personal loan?
For pre-approved customers, approval is instant (same day). For new applicants with complete documentation, it takes 2–5 working days.
Does MoneyTap check CIBIL score for personal loans?
Yes. MoneyTap performs a hard CIBIL inquiry on every application. Scores below 680 are typically rejected by their automated underwriting system.