Urban Money

Loantap Credit Products Private Limited Business Loan

Loantap Credit Products Private Limited
4.5

LoanTap and the Bank of Maharashtra have teamed together to enable access to finance for small and medium sized enterprises more quick, inexpensive, and simple. You may use our co lending approach to get a loan to develop your business, improve machinery, buy goods, or have cash on hand for day to day operations. Apply for an MSME Loan with LoanTap to satisfy your business's funding needs fast and conveniently. Borrow up to 2.5L in loan amounts for up to 36 months at low interest rates!

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Urban Money

Business Loan Banks

Interest Rate

Processing Fee

Loan Amount/Tenure

Loantap Credit Products Private Limited Business Loan Interest Rate

Up to 16.52%

Up to 2%

₹50K - ₹3L

Tenure(Up to 3 Years)

Details

Features & Benefits of Loantap Credit Products Private Limited Business Loan

Following are the features and benefits offered by Loantap business loan. 

No collateral – Unsecured loans are available for small businesses. There's no need to put anything up as collateral. Small company owners will find it simple to apply for a loan as a result of this.

No additional paperwork – Unlike typical banks, there is very little documentation to complete, making the transaction simple and quick.

Minimum Documentation – To apply for a loan, you only need to upload the absolute minimum of documentation.

Quick processing – LoanTap takes 24-36 hours to complete loans from application to disbursement once you have submitted the documents required for Loantap Credit Products Private Limited business loan.

Ease of use – LoanTap has a highly user-friendly UI. It offers the borrower a fantastic experience.

Cheaper than credit cards – The Limitless Platinum Card from LoanTap allows you to buy now and pay later, as well as convert your outstanding debts into Easy EMIs.

LoanTap is aware of your company's financial requirements and the demand for immediate cash. That is why it has created a user-friendly interface that is clever, straightforward, and easy to use. Visit the LoanTap website or download the LoanTap app to satisfy all of your business's emergency requirements.

Loantap Credit Products Private Limited Business Loan Overview

LoanTap and the Bank of Maharashtra have teamed together to enable access to finance for small and medium-sized enterprises more quick, inexpensive, and simple. You may use our co-lending approach to get a loan to develop your business, improve machinery, buy goods, or have cash on hand for day-to-day operations.

Apply for an MSME Loan with LoanTap to satisfy your business's funding needs fast and conveniently. Borrow up to 2.5L in loan amounts for up to 36 months at low interest rates!

Eligibility Criteria & Factors Affecting Loantap Credit Products Business Loan Eligibility

Any sole proprietorship, Hindu Undivided Family, Partnership business, Limited Liability Partnership, Private Limited Company, Limited Company, association of individuals, co-operative societies, or other organisation can register as an MSME and apply for an MSME Loan.

To be eligible for a Loantap Credit Products Private Limited business loan, the borrower must meet the following Loantap Credit Products Private Limited business loan eligibility requirements.

Age- Loantap Credit Products Private Limited offers business loans to those who are at least 21 years old at the time of application and will be no older than 65 when the loan expires.

Loan amount- LoanTap provides business loans ranging from Rs 50,000 to Rs 2,50,000 with repayment terms of up to 36 months. To maximise your chances of approval, apply for a loan amount that you can easily service.

Profitability and revenue- A profit for at least two years is necessary for Loantap Credit Products Private Limited, as well as a minimum firm turnover of Rs 6,00,000.

Business stability- Loantap Credit Products Private Limited requires a 12-month corporate track record. The bank will also look for a certain period of time or monetary amount that might affect your loan eligibility.

ITR and Banking- After evaluating your tax returns and bank data, Loantap Credit Products Private Limited will grant you a loan. Your ITR information and bank statements must be provided to the bank for a minimum of 0 months and 12 months, respectively.

CIBIL Score- Loantap Credit Products Private Limited will investigate your current and prior loan and credit card repayment history. The bank suggests that you maintain a credit score of 750 or above in order to qualify for a loan.

Loantap Credit Products Private Limited Business Loan Fees & charges

On the total loan amount sanctioned, there is a 2% processing charge plus relevant taxes.

Loantap Credit Products Private Limited Business Loan Interest Rates

Loantap is recognised for offering competitive business loan interest rates. MSME loans of up to Rs 250000 are available from LoanTap for terms of up to 36 months. Loantap Credit Products Private Limited business loan interest rate start at 18 percent per year.

Interest rate 18%
Processing fee  Up to 3% of loan amount
Loan tenure Up to 36 months
Lowest EMI per lakh  Rs 2327 for 5 years

Factors affecting Loantap Credit Products Private Limited Business Loan Interest Rates

There are various factors that can assist decide if you are qualified for a business loan from Loantap Credit Products Private Limited, including the following:

Loan amount- The size of the loan that you are looking for determines the interest rate on the business loan. Lower interest rates and EMIs will come from a larger loan amount. This bank offers loans ranging from Rs 50,000 to Rs 2,50,000 with a minimum of Rs 50,000 and a maximum of Rs 2,50,000.

CIBIL Score- If your CIBIL score is below 300 or you are a loan defaulter, Loantap Credit Products Private Limited will give you a business loan at a higher interest rate. As a result, if you wish to apply for a business loan with Loantap Credit Products Private Limited, make sure your CIBIL score is 700 or above. Faster loan acceptance and cheaper interest rates are associated with a higher CIBIL score.

Revenue- If you have a greater monthly income, Loantap Credit Products Private Limited would allow you to apply for a business loan at their bank, and it grants loans to those with an annual turnover of at least Rs 6,00,000.

Time in business- If you have extensive expertise and experience in your field, this bank may be able to provide you a loan at a reduced interest rate. To be eligible for the loan, your company must have been in operation for at least 12 months.

Documents Required for Loantap Credit Products Private Limited Business loan

To complete out the online application with the relevant information, go to the LoanTap website or download the LoanTap app. The following are the Loantap Credit Products Private Limited business loan requirements.

  • PAN Card
  • Aadhaar card/Driving Licence/Passport
  • Bank statements for last six months
  • Income Tax returns for the last two years
  • Memorandum of Association/ Articles of Association
 

While the LoanTap staff examines your application, you will have to wait. If everything goes well, your Loantap Credit Products Private Limited business loan online application will be authorised and the funds will be sent into your account within 24-36 hours. LoanTap recognises the necessity for companies to get a loan. As a result, it has devised a straightforward and flawless procedure.

How the EMI calculation works for Loantap Credit Products Business loans?

It's a good idea to utilise a business loan EMI calculator to figure out the proper loan term before you take out a loan. The amount of your loan is determined by your eligibility and need. The lender determines your interest rate depending on your eligibility, CIBIL score, and other variables. The only variable you have control over is your tenure. You may use the business loan EMI calculator to calculate the EMI for several terms and choose the one that is best for you. By choosing the appropriate tenure, you will be able to lock in the most convenient EMI that will have no effect on your monthly budget.

How Loantap Credit Products Private Limited compares with other Lenders?

Bank IDFC HDFC SBI
Interest Rate 19.00% - 0.00% 11.90% - 21.35% 11.20% - 16.30%
Processing Fee 2.00% Rs. 499 2.00% to 3.00%
Loan Amount Rs. 1 Lakh to Rs. 9 Lakh Rs. 50,000 to Rs. 50 Lakh Rs. 5 Lakh to Rs. 100 Crore
Loan Tenure 12 to 48 Months 12 to 48 Months 12 to 48 Months
Lowest EMI Per Lakh Rs. 2,990 Rs. 2,628 Rs. 2,594

Loantap Credit Products Private Limited Business Loan Customer Care Number

Customer Service E-mail id- cs.loantapcredit@help.loantap.in, cs.iloan@help.loantap.in

Customer Service Phone No.- +91 788 804 0000

FAQs

From refinancing to reducing your interest, we have the answers right here.

What is loan foreclosure?

The entire payback of the outstanding loan amount in one single payment, rather than in multiple EMIs, is referred to as loan foreclosure. It is a pre-existing feature of your personal loan application that allows you to return the loan before the scheduled EMI term expires.

What is the minimum turnover requirement for a Business Loan?

For Loantap Credit Products Private Limited, a profit for at least two years is required, as well as a minimum company turnover of Rs 6,00,000.

Who Can Take a Business Loan?

You must be between the ages of 21 and 65 to qualify for this form of business loan, which is available to both self-employed professionals and non-professionals.

What is the interest rate of business loan in Loantap Credit Products Private Limited?

LoanTap offers MSME loans of up to Rs 250000 for durations of up to 36 months. Annual interest rates begin at 18 percent.

Does Loantap Credit Products Private Limited Checks for CIBIL Score for business loan?

Yes, before approving a loan, Loantap Credit Products Private Limited examines the borrowers’ CIBIL Score. The higher the CIBIL Score, the more likely the loan will be authorised.

What is the maximum and minimum business loan amount I can get from Loantap Credit Products Private Limited?

LoanTap provides business loans ranging from Rs 50,000 to Rs 2,50,000 with repayment terms of up to 36 months.

What are the KYC documents I will have to submit to apply for a business loan from Loantap Credit Products Private Limited?

To Apply for Loantap Credit Products Private Limited business loan, you need to provide at least one Officially Valid Document (Voter ID / Aadhaar / Passport / Driving license/) and PAN.

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