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LoanTap Review

LoanTap Credit Products (NBFC)

Salaried-focused NBFC with reasonable APR for prime borrowers.

Reviewed by
SahiSujhav editorial — Independent borrower-side review
Last verified
2026-05-09
Right of reply
LoanTap invited to respond on 2026-05-09. Status: pending
Indicative APR upto
Upto 48%
Indicative processing fee upto
Upto 5%
Tenure
6–60 months
Ticket size
₹25,000–₹10,00,000
3.7 / 5
SahiSujhav editorial rating

Red flags

  • •Strict eligibility — declines hurt CIBIL inquiry tally

Green flags

  • •Regulated NBFC
  • •Multiple flexible repayment products

Permissions demanded

KYCBank statement (AA)

Data practices

AA-based bank data fetch.

Recovery practices

Standard NBFC collections.

Sources & references

Last reviewed: 2026-05-09

Grievance & support

Contact details published by the lender. If unresolved within 30 days, escalate via RBI Sachet.

Disclaimer: Reviews are independent editorial assessments based on publicly available information and user-submitted complaints. APR ranges and fees can change — always check the lender's Key Fact Statement before borrowing. Not financial or legal advice.

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Frequently asked questions about LoanTap

Is LoanTap RBI-registered?

LoanTap is operated by LoanTap Credit Products (NBFC). Its RBI status: RBI-regulated NBFC. Always verify the parent lender directly on the RBI NBFC list before borrowing.

What is the real APR on LoanTap?

LoanTap charges an APR between 48% and 48% per annum with a processing fee of up to 5%. After fees and GST, the effective APR on short tenures can be significantly higher than the headline rate.

Is LoanTap safe to use?

Salaried-focused NBFC with reasonable APR for prime borrowers. Permissions demanded: KYC, Bank statement (AA). Recovery practices: Standard NBFC collections..

What loan amount and tenure does LoanTap offer?

Ticket size ranges from ₹25,000 to ₹10,00,000, with tenure between 6 and 60 months.

How do I close my LoanTap loan early?

Open the app, request a foreclosure quote in writing, and pay the principal + accrued interest. Demand the No Dues Certificate (NDC) within 7 working days — RBI mandates it. If LoanTap refuses or harasses you, file a complaint on the RBI Sachet portal.