Sushant downloaded MoneyTap a few months ago, when some of the guys from the company approached him. He and his colleagues did it just to see how big a credit limit they’d be eligible for, and Sushant was pleasantly surprised to see he was eligible for Rs.3 lakhs. A few days later, after all the KYC process was done, Sushant had a credit limit of Rs.3 lakhs available on his app that he could access anytime he needed.
But he forgot about it as life swept him forward. His wife delivered a second baby, his elder son wanted to join an expensive cricket camp and life moved on.
One fine day, he received a circular from his son’s school mentioning that his annual school fees were due, which needed to be paid by the end of the week. Stressed by the thought, while browsing through various apps on the phone, he rediscovered MoneyTap.
Used LimitRs 0
Interest OnRs 0
JanuaryUsed amount: Rs 0
The next day, Sushant transferred Rs.1,45,000 instantaneously to his bank account and paid the school fees before the due date. Sushant had the option to choose his own repayment tenure and decided to repay the amount over a period of 12 months, right from the app.
AprilUsed amount: Rs.1,45,000
The next month, Sushant bought an iPad for his son spending Rs.42,000 via the MoneyTap card. This time he did not worry, as he knew he had MoneyTap to help him.
MayUsed amount: Rs.42,000