MoneyTap and KreditBee both are next-gen lending platforms. Leveraging on modern technology, these personal loan apps offer loans to young professionals who experience financial problems to meet unplanned expenses before the salary. Here is the comparison between KreditBee personal loan vs MoneyTap personal loan. 

Features	KreditBee	MoneyTap
Interest rate	0% to 29.95%	13% to 18% p.a.
Processing fee	Rs. 100 onwards	2% + GST
Loan amount	Rs. 1,000 to Rs. 2 lakh	Rs. 3000 to Rs. 5 lakh
Tenure	Up to 15 months	2 months to 36 months

KreditBee personal loan

In association with several non-banking financial companies, KreditBee offers a personal loan for young professionals. A personal loan starting from Rs. 1,000 is available from KreditBee for up to 15 months. 

Key features of KreditBee personal loan

Interest rate	0% to 29.95%
Processing fee	Starting from Rs. 100
Tenure	Up to 15 months
Loan amount	Rs. 1,000 to Rs. 2 lakh
Minimum income	Rs. 10,000
Age	21 years

Loan products offered by KreditBee

• Flexi personal loan
• Personal loan for salaried employees

Why choose KreditBee personal loan?

• Quick loan disbursal in 15 minutes
• Minimal documentation 
• High loan amount 
• No need to submit documents every time you apply for a loan

Who can apply for KrediBee loan?

Here are the basic requirements to get a KreditBee loan.

• Citizenship: Resident of India
• Age limit: Aged above 21 years
• Minimum monthly income: Rs. 15,000
• Aadhaar: Aadhaar should be linked to the applicant’s mobile number
• PAN: Must have a PAN card

Note: Each borrower is required to submit his/her PAN card along with one of the documents. 

MoneyTap

MoneyTap is one of the earliest apps to offer instant online credit in India. In a commercial association with various banks and NBFCs, it offers a personal loan in 40+ cities. Users can get short-term credits directly on their phone and desktop without complex paperwork. 

Interest rate	13% to 18% p.a.
Processing fee	2% + GST
One-time line setup fee (This fee is inclusive of the KYC processing and initial home visit)	Rs. 499 + GST
Late payment charge	15% of the due amount

Why choose MoneyTap to get a personal loan?

• Customized loan amount ranging from Rs. 3,000 and up to Rs. 5 lakh for specific needs of different customers such as home renovation, vacation, health expense, or even college fee.
• Flexible withdrawal as per customers’ requirement – they can withdraw the entire loan amount approved limit at once or only the amount they need.
• Borrowers who make the regular payment on the loan amount can enjoy the flexibility to withdraw loan multiple times.  
• Interest applicable only on used amount. No interest applicable on the unused amount.
• The loan can be repaid over a flexible tenure ranging from 2 months to 36 months.

Who can apply for MoneyTap loan?

• Salaried individuals should have a minimum take-home salary of Rs. 20,000.
• Self-employed professional like lawyer, doctor, chartered accountant, or business owner should have a minimum income of Rs. 20,000.
• Age of the individuals applying for a personal loan should be at least 23 years and maximum of 55 years at the time of application.
• Individuals living in Ahmedabad, Anand, Bangalore, Chennai, Chandigarh, Coimbatore, Delhi, Gandhinagar, Hyderabad, Indore, Jaipur, Kolhapur, Mumbai, Mohali, NCR, Panchkula, Pune, Rajkot, Secunderabad, Surat, Vadodara, Vijayawada, Vizag can apply for MoneyTap personal loan.

Documents required for MoneyTap loan

The entire loan process is online. Borrowers need to have minimum documents to apply for the loan. Here is the checklist of the documents:

• PAN card number
• Company name and e-mail address
• Professional selfie (Taken on MoneyTap app)
• Bank statement and account detail
• Identity proof: Driving license/ passport/ Aadhaar card
• Address proof: Driving license/ passport/ voter ID card/ Aadhaar card

KreditBee personal loan vs MoneyTap personal loan analysis is as above. Borrowers and choose the lender as per their requirements and eligibility criteria. 

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