If you need a loan of ₹5000 and want to get it urgently, this article can be helpful for you. In this article, we will learn about a loan app that provides instant loans of ₹5000. This loan app is called Taplend Loan App. It provides loans through an RBI-registered NBFC. The minimum loan amount is ₹1000 and the maximum is ₹50,000. The loan tenure ranges from 64 days to 120 days. You can read this article for more information.
What is Taplend?
Taplend loan is an online digital lending platform, registered with the Reserve Bank of India through its NBFC (Baba Lease And Investment Private Limited). It offers personal loans ranging from ₹1000 to ₹50000 with a loan tenure of 64 to 120 days. The interest rate is 36% per annum. You can apply for a loan 24/7 using your mobile phone and easily meet all your small financial needs.
Features of Taplend Loan
- 100% online process, you can apply online from the comfort of your home
- Simplified process with no paperwork
- No collateral required for the loan
- No hidden fees
- Low processing fees
- Easy repayment options
- Personal loans from 1000 to 50000
- Interest rates from 0% to 36% per annum
- APR range from 0% to 125%
- Fast loan disbursement
- Apply for a Taplend Loan from anywhere, anytime with our 24/7 mobile app
Taplend Loan Eligibility and Criteria
- The loan applicant must be an Indian citizen.
- The loan applicant must be over 22 years of age.
- The applicant must have a stable monthly income.
- To apply for the loan, the applicant must have a smartphone, bank account, PAN number, and Aadhaar number.
Taplend Loan Documents
- PAN card
- Aadhaar card
- Salary bank account
- Selfie
For example
If you take a Taplend loan of ₹5,000:
- Loan Amount: ₹5,000
- Tenure: 64 days
- Interest Rate: 36% per annum
- Processing Fee: ₹500 (5%)
- Loan Document Signing Fee: ₹25
- GST on the above fees: ₹113
- Credit Assessment Fe : ₹100
- EMI: ₹1,330
- APR: 119.03%
- Disbursal Amount: ₹4,262
- Total Repayment Amount: ₹5,320
Note: Actual interest rates and fees may depend on your loan eligibility and verification. This may vary depending on your profile
Taplend Loan: Real or Fake?
As we have learned in this article, you can get a personal loan of ₹1000 to ₹50000 from Taplend Loan. Taplend Loan is registered with the RBI and provides personal loans through an NBFC (Baba Lease And Investment Private Limited), which is 100% secure. You can apply for a loan online from the comfort of your home. Based on your eligibility assessment, Taplend Loan will offer you a loan.
Taplend Loan Application Process
- Download the Taplend Loan App
- Sign up using your mobile number
- Fill in your basic details
- Check your eligibility
- Verify your profile by submitting all KYC documents, including your address proof
Accept the loan approval - Choose your loan amount and repayment period
- Verify your UPI details
- Set up UPI auto-debit
- Get the loan amount transferred instantly to your bank account
Note: This article is for informational purposes only. Please use your own judgment when applying for a loan.
FAQs
Who can apply for a loan at Taplend?
Any Indian citizen over the age of 21 who is employed or has a regular monthly income can apply for a Taplend loan.
Does Taplend Loan Company have an NBFC license registered with the RBI?
Taplend Loan is a product of Baba Lease and Investment Private Limited, an RBI-registered NBFC.
What are the advantages of taking a personal loan through Taplend instead of getting one from a bank?
Taking a personal loan from a bank typically takes 2 to 10 days, involving extensive documentation and multiple visits to the bank. However, the TapLend personal loan process is entirely online, and based on your information, the entire process takes just 15 to 30 minutes. The amount is transferred directly to your bank account, which you can use anytime and anywhere at your convenience.
From which locations can you apply for a Taplend loan?
Taplend Loan is a digital platform and is available in all cities across India.