Credit card companies introduce different kinds of rewards and rebates for their cardholders. It is done through tie-ups with various brands and online shopping sites. You can check yours in a dedicated corner of the card statement.
The primary purpose behind getting a credit card statement is to check the transaction history. You can check every transaction done by your credit card, no matter how small or big it is. You can raise the doubt with the card issuer company if there is any discrepancy in your transactions.
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It would be best to do maximum expenses through your credit card, especially the ones for business and charity. Then, you can present your credit card statement as a supporting document for tax benefits at the time of filing tax.
As you can see, there is everything in your card statement that you need to know as a cardholder. You can point out any false transaction, error regarding due date, or due amount. It gives the power of information to you.
Your statement reminds you of your payment due date. It is essential to settle your credit card bill on the due date to avoid paying late fees and extra interest. In addition, your credit history gets dented if you pay your bill after the due date.
The importance of a credit card statement is beyond keeping the records. You can track down various avenues of your expenses from your card statement. You can also zero down on unnecessary spending and keep a tab on them.
Your credit card statement also reminds you of your credit limit. This helps you to plan your future expenses. Otherwise, you might exhaust your credit limit on other expenses before spending on something more essential for you.
Billing cycle: Your billing statement will be generated on either 12th or 22nd of every month. If you have borrowed any money or made any credit card transactions, these details will be shown on the statement.
Uploading Passbook: MoneyTap will not be able to read your account details from a passbook. Hence if you are uploading a passbook instead of your account statement you will face an error while uploading. To rectify this please login to your account and generate a single statement as explained in point 2 above.
Uploading e-Statements Received in Email: The statements you receive in your email from your bank are password protected. Uploading these password protected pdf files will again give you an error since MoneyTap will not be able to open such files. To rectify this please login to your account and generate a single statement as explained in point 2 above.
Single Month Statements: Depending on the date of your application, you can either upload single month statements or combined statements only. Until 14th of any month, MoneyTap accepts single month statements. However, if you are applying from 15th of any month, you need to upload a combined statement only. Please bear this in mind and upload accordingly as detailed in point 2.
MoneyTap offers quick disbursal of personal loans up to Rs. 5 lakh with minimum documentation. You need not pledge any collateral or a guarantor to avail this loan and MoneyTap makes it easy to track the status of your loan application as well as a disbursed loan both online and offline. Read on to know how you can check the status of your personal loan application as well as an active personal loan with MoneyTap.
Ans. Salaried employees and self-employed individuals, such as doctors, lawyers, business owners, shop owners, etc. with a minimum monthly income of Rs. 20,000 can apply for a personal loan at MoneyTap.
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MoneyTap is the first-of-its-kind, app-based personal credit line provider. It was founded with the aim to resolve the credit sourcing issues of the middle class. MoneyTap functions as a provider or lender of not only personal loans but also combines the features of a credit card as well. Customers get the benefit of extended credit limit and a flexible tenure to repay the credit availed.
MoneyTap provides a continuous line of credit to its customers through its mobile app and thereby gives them the flexibility of gaining access to credit from anywhere across India and at any time. Currently MoneyTap is present in more than 40 cities across the country. The origin of MoneyTap was to bridge the gap in the hassles involved in getting a personal loan and the higher interest rates that the consumer ends up paying on credit card loans. You can find all that you need to know about the MoneyTap line of credit in this guide.
MoneyTap came into existence to bridge or combine the gaps in the benefits of personal loans and credit cards. The line of credit is thus designed in such a fashion that the customers get the benefits of both the products at the same time. The various features and benefits of MoneyTap Line of Credit are mentioned below.
MoneyTap provides the customers with the benefits of credit cards along with that of a personal loan. The customers can enjoy the credit of up to a maximum of Rs. 5,00,000 but are not limited to a fixed credit period as is the case in any personal loan. Customers can get the benefit of the line of credit multiple times or for an extended period of time by repaying the amount withdrawn and renewing their credit limit. This ensures that customers get the benefit of the MoneyTap Line of Credit for practically the lifetime of the customer.
Purpose of the loan: MoneyTap Personal Loan can be used for just about anything. It can be used for planning travel, wedding, debt consolidation, education expenses for self or children, medical expenses, and so on. There is no restriction on end-use.
Quantum: The minimum quantum for Money Tap loan is Rs. 3,000 and depending on the income and repayment capacity of the borrower it can go up to a maximum of Rs. 5 Lakhs Personal Loan.
Credit score: The CIBIL score of the applicant should not be less than 700. The credit report should not contain remarks like "settled" or "written off". The total loans including Credit Card should be between 2 and 6. Credit history for at least 12 months should be available. Earlier loan repayment should not have gone beyond 60 days past due in the last 2 years and 30 days past due in the last one year.
Note: The processing fee is levied on the amount transferred, not on the approved limit. The fee is added to the next statement of the borrower. Every time the borrower withdraws money from the MoneyTap app, a nominal processing fee + applicable GST will be charged on the amount used. The amount of fee is added to the borrower's next month's statement.
Now get IDFC First Bank personal loan of Rs. 20000 to Rs. 1 Crore at lowest interest rate starting from just 10.49% per annum and the processing fee is 3.5% of the sanctioned limit + GST.
You can check your MoneyTap personal loan application status through MoneyTap login on mobile app or via contacting MoneyTap Support Team by sending an email at hello@moneytap.com or calling at MoneyTap customer care number.
Our mission has been to provide credit to the growing middle-income groups, in the most flexible, convenient and affordable manner, with money being available to the customer on tap. We will use this funding to scale our business, innovate with data-backed lending models and continue to hire aggressively. We will also use the funds to expand our credit offerings via our own NBFC," Anuj Kacker, co-founder of MoneyTap, said in a statement.
New-age lenders like MoneyTap collects customer data such as bank statements, salary slips, information such as text messages and contacts stored in a smartphone, and location data to further underwrite potential borrowers.
Transfers from Square sent to your linked bank account can be identified by searching Square Inc in your bank statement. You can also create transfer tags to identify next-business-day transfers from Square. Note: Transfer tags will not display when using instant transfers. Instant transfers sent to your bank account will include Square in the description. Some banks will display the transfer as Square Real Time Payment.
Personal loan apps are apps designed for anyone looking for an instant personal loan with minimal documentation and less-stringent eligibility criteria. These apps follow a tech-based customer-friendly model to offer a hassle-free loan journey to customers. You can take loans up to Rs.20 lakh at interest rates starting from 9% p.a. for a tenure of 5 years or more. In this blog, we have explained the top 20 personal loan apps and their features so that you can choose the best app while applying for a loan.
A major benefit of availing a personal loan from MoneyTap is you have to pay interest only on the amount you have used from your total approved limit. Moreover, you will get a complimentary credit card. Your credit limit will be recharged when you repay the borrowed amount, which provides the flexibility of making multiple withdrawals.
Dhani Loans and Services Limited is the new name of Indiabulls Consumer Finance Limited. An important feature of this loan is that the borrower can repay it via 3 interest-free EMIs. The application process is completely online, and borrowers can get the money credited instantly. Given below are its details:
IndiaLends is partnered with multiple banks and offers customised loans. You need to have a minimum CIBIL score of 750 and a good credit profile to apply for a personal loan via IndiaLends. Salaried individuals must be employed for a minimum of 6 months, while self-employed individuals must have run their businesses for at least 3 years. More details are given below: 17dc91bb1f