Get an Instant ₹1 Lakh Personal Loan Online from MoneyTap

Whether you have planned purchases that cannot fit your budget or unexpected expenses like medical emergencies or car repairs, getting out of it can be tricky, especially when facing a financial crisis. If you need an instant loan of ₹1 Lakh, MoneyTap can help you! Our unsecured personal line of credit allows you to take out a loan of up to ₹5 Lakh from your approved credit limit, and spend it however and whenever you want!

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What Can a ₹1 Lakh Loan Get You in India?

There are plenty of things you can do and buy with the help of a ₹1 Lakh personal loan in India. Here is a list of some of them:

Electronic Items

Splurge on Your Big Wedding Day

Down Payment for a Home Purchase

Down Payment for a Car Purchase

Business Expenses

Home Upgradation

Electronic Items

You can get your hands on the best electronic items like mobile phones, laptops, washing machines, television, dishwasher and more from brands within ₹1 Lakh.

Splurge on Your Big Wedding Day

Everyone has dreamt about a lavish wedding at some point in their lives. But don't let lack of funds be a roadblock to living your dream. If you have fallen short on funds to buy that expensive bridal outfit, a ₹1 Lakh personal loan can help you get it.

Down Payment for a Home Purchase

Buying a new home is one of the most exciting experiences. While buying your dream home under ₹1 Lakh might not be possible, a personal loan of the same amount can help you make its down payment!

Down Payment for a Car Purchase

If you are thinking of getting a brand-new car that you can call your own, getting a ₹1 Lakh personal loan can assist you in making its down payment.

Business Expenses

Covering major business expenses like buying new electronic devices or other expenses is possible with a ₹1 Lakh personal loan.

Home Upgradation

Instead of putting your home as collateral and taking out a secured home equity loan for major home improvements, a personal loan can get you started with all the repairs and upgrades you need for your home without keeping it as collateral.

What are the Features and Benefits of MoneyTap's ₹1 Lakh Instant Loan?

Get Instant Approval

Getting a ₹1 Lakh personal loan from MoneyTap is easy and gets approved within 4 minutes! The approval process takes place online and requires minimal documentation.
Borrow Amount in Parts

Once you are approved to get a loan, you can borrow from ₹3,000 to ₹5 Lakh any time and pay interest only on the amount you used rather than the entire credit.
Save on interests

Enjoy low-interest rates starting at 1.08% per month charged only on the amount you borrow.
Dual Up as a Credit Card

You can double it up as a credit card by using our complimentary MoneyTap-RBL Credit Card* (valid only for RBL-approved customers) for making online and offline purchases.
Make Flexible Repayments

Typically, our flexible repayment option starts from 2 months up to 36 months. So, choose a repayment window you are comfortable with.
Manage Your Transactions Easily

Downloading the MoneyTap app makes it easier to manage your personal loan without hassles and within the comfort of your home.

What is the Process to Apply for MoneyTap's ₹1 Lakh Personal Loan?

Download MoneyTap App & register

Fill up basic details such as age, city, PAN number, & income so we can determine your eligibility.

KYC documentation

After the approval from our system, we’ll schedule a KYC visit to your house / office to collect documents.

Transfer Money to your Bank

Credit line is ready to use! From the approved limit, transfer as much money as you need to your bank account.

Fill up basic details such as age, city, PAN number, & income so we can determine your eligibility.

After the approval from our system, we’ll schedule a KYC visit to your house / office to collect documents.

Credit line is ready to use! From the approved limit, transfer as much money as you need to your bank account.

Eligibility Criteria

Profession – Salaried or Self-Employed
Age – Above 21 years and below 60 years
Minimum Monthly Income – ₹ 20,000
Work Experience – 3 years and above
Credit Score – 650 and above
Must be a resident of one of the following cities:
View city list

Required Documents

Pan Card Number
Professional Selfie
(To be taken on the MoneyTap App)
Address Proof
(Valid Driving License / Valid Passport / Aadhar Card)
ID Proof
(Valid Driving License / Valid Passport / Voter’s ID / Aadhar Card / Pan Card)

What are the Interest Rates for a ₹1 Lakh Personal Loan?

The interest rate you’ll pay on your loan from MoneyTap will be based on your creditworthiness and repayment capacity. Our rates currently range from 13% to 18% per annum. Once your loan of ₹1 Lakh has been approved, you’ll be able to see the interest rate offered to you and the monthly EMI amount you need to make towards repayment of the borrowed amount.

MoneyTap provides personal loans of up to ₹5 Lakh in the form of a line of credit. This means you can borrow what you need (up to the approved credit limit) and repay only the amount you have used in easy EMIs. For example, if you get a loan of ₹1 Lakh but use only ₹20,000, you can withdraw the amount you need and repay only the amount you have used instead of repaying the full credit limit. You won’t be charged any interest on the amount you didn’t use.

Personal Loan EMI Calculator

Loan Amount :

₹

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100L |
125L |
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175L |
200L

Interest Rate :

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5 |
7.5 |
10 |
12.5 |
15 |
17.5 |
20

Tenure :

Yr %

Months

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EMI Scheme

EMI in Advance EMI in Arrears

₹24,959

Loan EMI

₹34,90,279

Total Interest Payable

₹59,90,279

Total Payment (Principal + Interest)

Someone like you is happy with MoneyTap

Navjyoti

You can have credit cards but you have to pay hefty interest rates if you want to use them as a loan. You need to go for a personal loan if you need cash. But MoneyTap credit has a kind of 2-in-1 facility that lets you withdraw cash when you need it and change it to EMI as well [with lower interest rates]. I think it's really helpful and unique.

Navjyoti

Julen

The best feature on the app is instant feedback. You say "thank you" and it replies "welcome" - its' all done by the app. I have not seen this kind of intelligence in any other app. Absolutely love it.

Julen

N Cavin Misao

I was short of Rs. 30,000 for the down payment on my car. I used MoneyTap and got the money immediately. Thank you.

N Cavin Misao

Get the app for a seamless application process

Get it on playstore

Get it on appstore

With MoneyTap’s line of credit you will have money available instantly 24x7 to use anytime, anywhere. Click below to experience its power.

Apply now

Our journey so far

5 years and counting as India’s 1st app based Credit Line

1.1M

Happy faces
252K

Loans disbursed
5

Years of service
10M+

Downloads

Different Ways to Use MoneyTap Personal Loan 2.0

MoneyTap's Personal Loan is
Now Available Across India

FAQs

I need ₹1 Lakh loan urgently. How can I get it?

MoneyTap’s personal line of credit makes it easy for you to get a loan from ₹3,000 to ₹5 Lakh! Download the app and follow the steps we mentioned above. Once your credit line is approved, you can use the money whenever and wherever you want!

Which bank is the best option for a personal loan of ₹1 Lakh?

Most banks offer a ₹1 Lakh personal loan to their customers. Picking one where you make your business transactions and have your salary account is ideal because the bank can easily process your application and understand your repayment capacity. Also, the loyalty factor allows you to get lower interest rates. But you are free to approach any bank for a ₹1 Lakh personal loan.

Nationalised banks have the best interest rates before private sector banks and other financial institutions. But when it comes to prompt service, the private sector banks and financial institutions are better.

Can I get the lowest interest rate on a ₹1 Lakh personal loan?

Yes, to get a personal loan of ₹1 Lakh with the lowest available interest rate, you need to:

Have an excellent credit score of 650 and above.
Have a salary account in the same bank.

Moreover, salaried employees have more chances of getting a loan at the lowest interest rates.

Can I get a ₹1 Lakh loan without income proof?

No. To get a ₹1 Lakh loan from MoneyTap, you need to show your income proof along with your address and ID proof.

What will be the EMI for a ₹1 Lakh personal loan?

The EMIs depend on your interest rate, varying from lender to lender. However, the ideal EMI range on MoneyTap is between ₹2,275 to ₹2,879 on an interest rate of 13.00% to 24.03%.

What are the factors that can affect ₹1 Lakh personal loan EMI?

Interest rates and loan tenure affect your chances of getting a ₹1 Lakh personal loan. The higher your interest rates, the more EMIs you pay. But you can save yourself from higher interest rates with an excellent credit score and sufficient income.

Can I get a ₹1 Lakh loan without documents?

No, to get your ₹1 Lakh personal loan approved with MoneyTap, you need to submit documents like:

PAN card number
ID proof
Address proof

Can those with low CIBIL scores get a ₹1 Lakh loan from MoneyTap?

Yes, you can still get a loan from MoneyTap if you have a low credit score, but your chances of getting approved are low and you have to pay higher interest rates.

How can I get ₹1 Lakh loan on an Aadhaar card?

You cannot get a personal loan on your Aadhaar card as you can get on a credit card. However, digitalisation and Aadhaar card has made it easy to apply for a personal loan online. To read more about it, click here.

What credit score is needed for a ₹1 Lakh loan?

To get your loan request approved instantly with lower interest rates, it’s better to have a credit score of 650 and above.

Am I eligible for MoneyTap's ₹1 Lakh loan?

You are eligible for a ₹1 Lakh personal loan from MoneyTap if you are above the age of 23 and below 55, with a minimum monthly income of ₹20,000.

Am I eligible for MoneyTap's ₹1 Lakh loan?

After uploading your basic required details on our app, the loan pre-approval process begins within a few minutes. However, the KYC verification may take a few days, after which the loan is disbursed to you.

Find our social channels

Quick Links

Reach Us

Download the app

Get it on playstore

Get it on appstore

What Can a ₹1 Lakh Loan Get You in India?

Electronic Items

Splurge on Your Big Wedding Day

Down Payment for a Home Purchase

Down Payment for a Car Purchase

Business Expenses

Home Upgradation

Electronic Items

Splurge on Your Big Wedding Day

Down Payment for a Home Purchase

Down Payment for a Car Purchase

Business Expenses

Home Upgradation

What are the Features and Benefits of MoneyTap's ₹1 Lakh Instant Loan?

Get Instant Approval

Borrow Amount in Parts

Save on interests

Dual Up as a Credit Card

Make Flexible Repayments

Manage Your Transactions Easily

What is the Process to Apply for MoneyTap's ₹1 Lakh Personal Loan?

Step 1

Step 2

Step 3

Download MoneyTap App & register

KYC documentation

Transfer Money to your Bank

1 Step 1 Download MoneyTap App & register

2 Step 2 KYC documentation

3 Step 3 Transfer Money to your Bank

Eligibility Criteria

Required Documents

What are the Interest Rates for a ₹1 Lakh Personal Loan?

Loan EMI

Total Interest Payable

Total Payment (Principal + Interest)

Someone like you is happy with MoneyTap

Navjyoti

Navjyoti

Julen

The best feature on the app is instant feedback. You say "thank you" and it replies "welcome" - its' all done by the app. I have not seen this kind of intelligence in any other app. Absolutely love it.

Julen

N Cavin Misao

I was short of Rs. 30,000 for the down payment on my car. I used MoneyTap and got the money immediately. Thank you.

N Cavin Misao

Get the app for a seamless application process

Our journey so far

1.1M

252K

5

10M+

Different Ways to Use MoneyTap Personal Loan 2.0

Marriage Loan

Travel Loan

Medical Loan

Education Loan

Used Car Loan

Two-Wheeler Loan

Laptop Loan

Mobile Loan

Home Renovation Loan

Consumer Durable Loan

Debt Consolidation Loan

Used Two-Wheeler Loan

MoneyTap's Personal Loan is Now Available Across India

FAQs

Find our social channels

Quick Links

Reach Us

Download the app

MoneyTap's Personal Loan is
Now Available Across India