Sep 20 • 2 mins read
MoneyTap Now Brings its Credit Line For Self Employed!
Who doesn’t admire a self-starter? Entrepreneurs who start small with a vision to grow are an inspiring lot. We at MoneyTap know what it takes to build something from scratch and how a little help could go a long way in clearing obstacles.
For all of you hard-working folks who are self-employed, MoneyTap is happy to bring our personal credit line for self-employed individuals. Whether you are a homemaker running an apparel business or a chef looking to expand your catering business, we welcome you to try MoneyTap.
What is MoneyTap?
MoneyTap offers a personal line of credit of unto Rs. 5 lakhs in just a few taps through a phone based app. Within minutes of installing the app, you get a pre-approval for a credit line. You get this without making a call or visiting any office. This line of credit is available to you at all times and can help you tide over minor financial exigencies without any hassle. You pay interest only for the amount you actually use and not for the entire approved limit. Read more about our features here.
MoneyTap For All
In line with our primary objective of bringing credit to all, we have lowered our minimum salary requirement from Rs. 25,000 to Rs. 20,000 per month since December 2016. We have also relaxed our requirement of the rental lease agreement and are now open to those sharing a rental agreement with their mates. Continuing on the same track, we are now open to applications from those running their own businesses. Self-employed individuals, who were initially unable to proceed with our registration can now do so. The registration is paperless and can be done completely on the MoneyTap app.
Documents Needed for Self Employed Applicants
If you are an independent business owner a.k.a self-employed, all you need to get approved for a credit line from MoneyTap is primarily:
- Scanned copy of your id proof or you Aadhaar number
- Scanned copy of your address proof
For more details on these and other documents required during registration, you may read all about it here.
By Jan 2017, within a few months of our launch, MoneyTap app’s installation crossed the 1 lakh mark. With our recent changes towards enabling more of you to be eligible for MoneyTap’s credit line we hope to help everyone realize their dreams without finding themselves in an unpleasant situation of asking for financial help. Your personal genie, MoneyTap will always be
there, just a tap away.