# MoneyTap is now Freo Credit > Online personal loans in India with flexible credit limits and interest on borrowed amounts. (iPhone/iPad app by MWYN TECH PRIVATE LIMITED.) - Source: https://appshunter.io/ios/app/moneytap-is-now-freo-credit/id1374771286 (this page in markdown: same URL + `.md`) - Developer: [MWYN TECH PRIVATE LIMITED](https://appshunter.io/developer/1374771285) - Category: Finance - Price: Free - Rating: 4.32/5 from 26,793 App Store ratings · 20 written reviews indexed - Age rating: 4+ - Requires: iOS 13.4 · 205 MB - Languages: English - Released: 2018-05-14 - Data updated: 2026-09-04 - Monetization: free with in-app purchases - User reviews in markdown: https://appshunter.io/ios/app/moneytap-is-now-freo-credit/id1374771286/reviews.md ## What is MoneyTap is now Freo Credit? MoneyTap is now Freo. Download the new app Best Personal Loan App in India - Get approved for a flexible loan up to ₹5,00,000 & pay interest only on the amount you borrow with MoneyTap. Get a personal loan online with zero collateral. Interest rates start from as low as 13% per annum* for 3 to 36 months. We offer you the benefits of an easy personal loan and credit card combined. For salaried employees only! Minimum salary = ₹30,000 per month. If you need money, view MoneyTap as your first choice for loans. Fees For ₹1,00,000 borrowed for 1 year, with interest rate @13% per annum*, a user would pay: -> Processing fee (@ 2%) = ₹2,000 + GST = ₹2,360 -> (Setup fee of ₹499+GST = ₹588/- to be paid upfront) -> Interest = ₹7,181 -> EMI = ₹8,932 Total amount to be repaid after a year = ₹1,10,129/- *Interest Rate varies based on your risk profile The maximum Annual Interest Rate can go up to 36% (However, only a fraction of our customers get an interest rate higher than 30% per annum) We are India’s leading personal loan app in partnership with leading banks and NBFCs. We work ONLY with regulated financial institutions in India, governed by RBI & we have our own NBFC license as well. So we're well-regulated and legally compliant. How is MoneyTap different from any other traditional personal loan app in India? The best feature of the MoneyTap Loan app is that you pay the interest only for the amount that you borrow. Example: Ajay applies for a MoneyTap Loan in January, and gets an approved credit limit of ₹5,00,000 but doesn’t borrow any money for the next 5 months. In May, he withdrew ₹50,000 from his credit limit to pay for a house deposit. Now, the interest will only be charged on ₹50,000. Ajay can avail another loan from the app by opting for a top-up loan right from the app. What features make MoneyTap convenient? ● 100% paperless process, no bank visits ● You can use any amount from your available credit limit Documents required ● Aadhaar number ● Identity proof (Driving license/Voter id/Passport/Aadhaar/PAN) ● Address proof (Driving license/Voter id/Passport/Aadhaar/Utility bills/bank statements) ● Original passport photo/selfie ● You can get a personal loan online on Aadhaar card. E-sign your application with registered mobile OTP for fast-track application How does MoneyTap work? Get a personal loan in 4 simple steps: ● Apply on the app and get approved in 4 minutes, create your profile, fill basic information such as age, city, PAN, & income to check eligibility ● Instantly find out your pre-approved amount ● Complete KYC verification ● Transfer money to the bank account from the approved amount Available in 50+ cities. MoneyTap Personal Loan Application Uses ● Phone pe loan - use it as an urgent personal loan. ● Personal loans can be used for education, medical, marriage / wedding loan, home renovation loans, mobile / laptop loan, used car/ two-wheeler loan, travel loans, debt consolidation loan, etc. ● The experience of an early salary for emergency cash. Bonus: MoneyTap RBL credit card ● 100% cash withdrawal from your credit card online ● 50-days interest-free period Security & Protection of Privacy Data security & privacy is a top priority at MoneyTap. Our backend APIs comply with mandated security standards & robust protocols which have been tested and certified by our partner bank’s IT team. Download the Freo app now. ## Key features - Flexible loan amounts up to ₹5,00,000 - Interest only on borrowed amount - 100% paperless application - Quick approval process - Transparent fees and charges - Available in 50+ cities ## Recent user reviews (10 of 20) All indexed reviews: https://appshunter.io/ios/app/moneytap-is-now-freo-credit/id1374771286/reviews.md ### 5/5 — Abused call *2024-10-04* hello money tap My financial condition is bad now due to which I am not able to make the payment, for that I have apologized to you but you are abusing me, is this what you are talking about? You are abusing your sister, you are threatening to send SMS, you are harassing me by calling during the day, saying that if you ask for money, is this a wrong thing or I am requesting you? This is what the customer care people have told me. I want to see all of them face to face with the amount of money, how to make MMS, how to log your customer care, what kind of abuses are given. **Developer response:** Hi, we want to assure you that Moneytap does not engage in such practices. To help us investigate, please complete the following feedback form: (https://bit.ly/4bSvy2F). ### 5/5 — Shivaprasad *2024-07-06* This loan app is truly a lifesaver! The application process was incredibly smooth and quick. I was able to upload my documents easily, and the approval came through within hours. The interest rates are competitive, and the repayment terms are flexible, making it convenient for me to manage my finances. The customer support team is responsive and helpful, always ready to assist with any queries. I appreciate the transparency in fees and charges, which gave me confidence in the service. Overall, an excellent experience, and I highly recommend this app to anyone in need of a hassle-free loan. **Developer response:** Hi, thank you for your review. If you have any feedback or suggestions, please write to us at hello@moneytap.com. We would love to hear from you! Do like and follow us on Meta: facebook.com/FreoMny and Instagram: instagram.com/freomoney/ ### 1/5 — Spam!!!!!!!!! *2024-01-13* Money tap has the worst customer service and people in their staff. If you try to talk to them they are never there but they want you to pick up their calls otherwise they take the access to your contacts and call your family members or people from office and abuse them and tell them that you have given their names in the referral even when you haven’t. They abuse you, they call you names on the calls even when you are ready to pay they want you to pay immediately otherwise they will again start calling people from your contact list. They bully you till the time you commit suicide or pay their money. They have no concern for your customers whatsoever. They just care about the money and not what you are trying to say. Banks like icici, hdfc gives time to their customers to pay at the time of crisis but money tap will call you a liar and abuse you or bully you until the time you commit suicide. If people have sufficient money in their bank accounts they will never apply for a long. A person only applies for a loan when they are in a need for it. Money tap hit account multiple times which puts a person in situation where they have to pay their bank for a missed amounts and now also have to pay money tap for the late charges. I WOULD SUGGEST PLEASE DONT APPLY FOR LOAN IN MONEY TAP NO MATTER WHAT YOUR SITUATION IS. If it can be delayed you should. Because they will make your life miserable. I request- there is someone I know whose life they have made miserable because they were in a urgent need of money and they applied for a smal loan in money tab but now they have to pay so much money and also money tap people are calling their family members and friends and abusing them and accusing them while they are trying to arrange for the money and pay them. IT IS THE WORST OF ALL… **Developer response:** Hi Carvy28. We regret any inconvenience you may have experienced as we were unable to find your information in our system. To assist you more effectively, we kindly ask you to complete the following feedback form (https://bit.ly/3JTmoneytap). We'll be more than happy to help you out. ### 1/5 — Pathetic experience *2023-08-29* Initially they will grab your all information and documents on the name of approval from RBL than they will share all the confidential details with all digital co lenders without our consent after that we will never get credit line which was showing approved on there app because the co lenders will start calling you to offer personal loan on 30-40% rate on interest. This is how they work it’s completely breach of our confidential data further I would like to write that I have written this complaint to their senior management and got a call where in they agreed that all the co lenders belong to them but they didn’t justify why my details been shared with them without my consent and still they are investigating the same.I have shared all the proof but still there is no response. **Developer response:** Hi Sunny. Moneytap is proudly made in India, by Indians, for Indians. Your information is our top priority, and our app ensures 100% digital safety and security. We strongly oppose baseless claims. Let's focus on constructive dialogue moving forward. ### 1/5 — Don’t fall into the trap *2023-07-21* Hi Guys, I don’t know how you guys are experiencing the service but I want to share my experience. I have taken a loan in 2018 and I have pre closed it after paying couple of EMI’s. These people haven’t closed my loan and they kept open one EMI on my account and that was showing a overdue from the last couple of years. When I applied for a loan in a bank in January then I get to know this and I have written a lot of emails asking why it is showing finally after sending multiple emails Someone Called Shiva he responded and saying “they have reserved this for you under your account even after foreclosing your loans so that you can withdraw the amount in future if needed. Hence, the amount is still showing up in your CIBIL”. If they know this will show in my CIBIL and it will effect my CIBIL, how come they’ll reserve without informing me or without my confirmation. After all this I have told them I’m no longer needed any loan and asked them to close the loan. They said they have closed my loan and the same will update in 90days but it’s been more than 5months it’s not updated yet and it’s still showing in my CIBIL. Due to this my education loan got rejected and I’m continuously sending the emails, asking the NOC from them but they haven’t responded till now. So, please be aware of this SCAM. **Developer response:** Hi Akhil. We apologize for any inconvenience you may have experienced. However, we are having difficulty identifying your concern as we cannot locate your information in our system. To assist you better, could you please provide us with your registered email address by clicking on the following link: (https://bit.ly/Qfwof8moneytap). ### 2/5 — CREDIT SCORE WORSENED BECAUSE OF THEIR CARELESSNESS *2023-06-03* I’m having a nightmare with these people, I’ve made all the payments on time and never missed a single payment. There has been a late payment charge on my cibil score since 6 months which drastically brought down my cibil score. When I tried to reach out to them with all my details and my cibil report, they initially requested for more details and then completely ghosted me. Stopped responding even after multiple follow ups. This has really taken a toll on my mental health. Extremely poor redressal service. I don’t understand how a company runs like this. I’ve been following up for 1 month now and sent 10 follow up emails. Nobody responds or fixes the issue. I needed an education loan urgently and this has so negatively affected my cibil report that idk what to do now. **Developer response:** Hi Meghana. We apologize for the inconvenience. We are unable to locate your information in our system. Please provide us with your registered email address using this link: (https://bit.ly/Qfwof8moneytap). We would be happy to assist you. ### 1/5 — Fraud company *2023-05-30* MoneyTap application will show the EMI amount excluding of interest charges,Processing fees and GST while taking loan from this app .You will be shocked to see the huge difference in EMI amount when your first bill get generated. So please be careful while taking loan from this app and you need to have RBL bank credit card to take loan from this app and you should be ended up in paying annual card charges and lot of hidden charges pp will show the EMI amount excluding of interest charges,Processing fees and GST while taking loan from this app .You will be shocked to see the huge difference in EMI amount when your bill got generated. So please be careful while taking loan from this app and you need to have RBL bank credit card to take loan from this app and you should be ended up in paying annual card charges and lot of hidden charges. so requesting everyone to check all the charges before you take loan from this app. We are taking loan from this application, but RBL bank will send the monthly statement and if we call the customer care to check why the hidden charges was not shown while taking the loan and they are asking me to check this from Money tap and till now my query was not resolved.. Please be aware of this kind of fraud. **Developer response:** Hi, we apologize for the inconvenience. We are unable to locate your information in our system. Please provide us with your registered email address using this link: (https://bit.ly/Qfwof8moneytap). We would be happy to assist you. ### 1/5 — No proper response from customer support *2022-11-09* I have made the payment on November 2nd and I’m trying to withdraw again it always says that “currently money transfer is unavailable we will let you know when it’s available” and I have emailed to customer support and from Prema I got a reply saying send me screenshots and I replied with relevant screenshots till now till now no proper response and also please sending me Facebook messenger chat link now because even I tryed that as wel the reply I got we are checking on it. I don’t know it’s been 7days you are checking on it. As I said in my last email until I get proper response from your customer support I will not make any further payment from next month I’m ready to face the consequences I have all proof now. First give respect to the people who ask for query if we don’t have any problem with your app why should we reach you, and very clever no customer care phone number only email id. **Developer response:** Hi, @chrismoneytap. Thank you for your kind words. Spread the word and please feel free to refer MoneyTap to your friends and family. ### 1/5 — Fake and useless money tap *2022-10-19* Hi guys whoever is reading this review I kindly ask you to not install this app if you do so you will definitely gets regret . I’m one of the customer who suffered due to this app and this app customer service is worest than anyone of the apps available in the market . It’s been 3 months I have write to them but no one responded and I have followed up with 50 mails and no mail got the reply and simply they flood you mail inbox with spams and your CIBIL GETS affected due to which you will not get loan on any one the apps or banks . So beware of this fraud app which was created just to collect the data form customer. FOR ME ITS SHOWING CREDIT APPROVED BUT NEED CREDIT CARD TO ACTIVIATE AND THEY HAVE NOT SENT ANY CREDIT CARD YET AND I THOUGHT THIS IS JUST A FAKE APP BUT LATER WHEN I TRIED TO APPLY MY LOAN IN BANK IT GOT REJECTED THE REASON HERE THIS FAKE APPS CREDIT LINE IS SHOWING AS ACTIVE LOAN IN CIBIL REPORT . Please install this app at your own risk and I would suggest please go through all the reviews before installing it **Developer response:** Hi Mogudu. We sincerely apologize for the inconvenience. We are unable to find your details here. Kindly share your registered email address on this link: (https://bit.ly/Qfwof8moneytap). We'd be glad to help you. ### 2/5 — Customer Care is extremely Bad *2022-08-19* I have been using Money tap for quite sometime now . There was no problem at all . But this month my whole experience of a good platform has gone for a toss. My ECS go deducted on Time and after few days a got a call saying I have not paid. Instantly I shared the proof of my ECS and then after lot of follow up I was told the matter has been settled and ECS has reflected. But when I crossed checked on the App it was still showing pending and my credit line blocked . I mailed to their customer care team with all details but no one bothered to revert back even after 7 days have passed from my first mail after that I have sent reminders also but they also met the same fate as my first mail . My question is why do you harass people like this and they don’t have any customer care number only one mail id . **Developer response:** Hi Kausik. We're disappointed to hear the experience with us was not up to your satisfaction, Please be assured that we've highlighted your concern and are looking into it with the utmost priority. ## Frequently asked questions about MoneyTap is now Freo Credit ### What is Freo Credit's minimum salary requirement? Freo Credit requires a minimum salary of ₹30,000 per month for salaried employees. This ensures a baseline of income stability for loan applicants. ### How does Freo Credit calculate interest? Freo Credit charges interest only on the amount you borrow, not on your entire credit limit. This offers flexibility and cost savings compared to traditional loans. ### What are the fees associated with a Freo Credit loan? Fees include a processing fee (e.g., 2% of the loan amount) and a setup fee (e.g., ₹588/-). These are clearly outlined before you borrow. ### How long does it take to get approved for a loan with Freo Credit? The application and approval process is designed to be fast, with users able to get approved in as little as 4 minutes. The entire process is 100% paperless. ### What documents are needed to apply for a Freo Credit loan? Required documents include Aadhaar number, identity and address proof (like Driving License, Voter ID, Passport), and a passport photo/selfie. E-signing with OTP speeds up the application. ### Is Freo Credit a regulated financial institution? Yes, Freo Credit partners with leading banks and NBFCs in India and is governed by RBI. They also hold their own NBFC license, ensuring regulatory compliance. ### What is the maximum Annual Interest Rate for Freo Credit? While interest rates start as low as 13% per annum, the maximum Annual Interest Rate can go up to 36%. However, most customers receive rates below 30%. ### Can I use Freo Credit for various expenses? Yes, Freo Credit loans can be used for a wide range of purposes including education, medical emergencies, weddings, home renovation, and debt consolidation. ## Version history (last 2 releases) ### 5.2.3 — 2026-06-16 Bug fixes and features enhancements ### 5.2.2 — 2026-04-27 Bug fixes and features enhancements ## More apps by MWYN TECH PRIVATE LIMITED - [Freo Credit Score](https://appshunter.io/ios/app/freo-credit-score/id1548681007) All apps by MWYN TECH PRIVATE LIMITED: https://appshunter.io/developer/1374771285 --- *Data collected daily from the US App Store and indexed by [AppsHunter](https://appshunter.io/). User reviews are verbatim App Store reviews. Ratings, prices and chart positions refresh continuously; this snapshot is from 2026-09-04.*