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How to Improve Your Chances of Getting Approved on MoneyTap

Do you find yourself in money troubles in spite of earning well? Is an imminent expense giving you sleepless nights?

Living expenses have risen manifold in the past decade. While the average salaries have also risen, it has not been enough. A growing number of working professionals are finding themselves in the middle of a financial crunch every once in a while.  

MoneyTap offers an easily available credit minus the hassles of a personal loan or a credit card loan. We have a growing happy customer base who have benefited from our flexible line of credit. While most of them have been pre-approved instantly upon registration, a few were not so lucky.

We bring you our eligibility criteria followed by some tips that can improve your chances of getting approved on MoneyTap.


Salaried Individuals that fulfil the below criteria are eligible to apply:

    • Age: 23 years and above and less than 55 years
    • City of Residence: Bangalore, Mumbai (Mumbai, Navi Mumbai, Thane), Chennai, Hyderabad (& Secunderabad), Delhi NCR (Delhi, New Delhi, Noida, Greater Noida, Ghaziabad, Faridabad, Gurgaon) 
  • Salary: Minimum monthly salary of Rs. 25,000

Our partner banks, like all other banks, approve applications based on several factors and is not limited to any one particular reason.  We have listed some key factors that are applicable for any credit or loan request. There can be several other reasons which are specific to every bank.

Improve your Chances by:

    • Clearing your outstanding payment obligations; be it unsecured loans or high credit card bills.  It is important to maintain a healthy debt to income ratio.  Ideally, your debts should not exceed more than 40% of your income.
    • Maintaining a disciplined repayment history. Do not default on bill or loan repayments. Repaying on time is an important indicator of your financial discipline.
    • Maintaining job stability and not switching jobs very often. A stable job is a positive indicator.
    • Not applying for personal loans with several banks. If you need a loan, do your research and approach only the most suitable bank. Applying to several banks can show up on your credit report and may lower your credit score.
  • Showing a regular income. If your salary is not being credited regularly (which is possible in start-ups), follow up with your finance department and make sure this is done.

Most of the points listed above are long-term factors and cannot be corrected overnight.  If you anticipate an expense in future, start working on creating a good credit history in advance. It is always a good idea to wait and take corrective measures before applying for credit. The good news is that if you do get approved for MoneyTap, its flexible feature of borrowing and repaying small amounts can actually help you improve your credit history.  Read more on how MoneyTap can be helpful here.

For any enquiries related to the application process, write to us at To download the MoneyTap app on your phone, click here.

Shiv Nanda

Shiv Nanda is a financial analyst at MoneyTap who loves to write on various financial topics online. He also advises people on financial planning, investment choices and budgeting skills, and helps them make their financial lives better.

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