With an increased focus on digitalization and cashless transactions in recent years, there has been tremendous growth in the FinTech sector in India. This is particularly noticeable in the personal loans segment, with financial companies offering innovative products and services for the modern consumer.
People all over the world rely on smartphones and tablets for just about everything these days. The same holds true for people in major Indian cities, which is why app-based consumer loan products such as MoneyTap are becoming so popular.
Rather than running around to submit documents and fill out endless paperwork for a personal loan, financial apps like MoneyTap make the borrowing process quick, easy and painless. This is especially helpful for people who need funds in a hurry, so they can pay for unforeseen expenses or emergencies without any hassles.
MoneyTap is more than just a personal loan, though. It’s a revolving line of credit that gets topped up each time you make a payment, so you will have an emergency backup for life. Interest is only charged on the money you use, and you get a credit card linked to the loan for 24/7 payments and purchases.
Learn more about our app-based credit line here. Also check out this handy infographic, which features interesting statistics about the growth of the Indian FinTech industry, and the reasons behind the increasing popularity of digital lending platforms.