₹5 lakh to salaried and self-employed customers.Customers can avail this line of credit free of cost, but when they draw an amount, it attracts interests from 13% to 25%, on amount drawn down.
MoneyTap is also in talks to onboard hospitals to provide the option of no-cost loans in the future.Anuj Kacker, co-founder of MoneyTap, said while his company has not registered many new customers in the recent months, higher credit offtake by existing customers has driven the demand volume up as they want to keep cash handy.“We are seeing that the use of money on our app has gone up as people want to hold on to cash and medical expenses are among the top three (where the money is being used)," Kacker said.The recent healthcare situation has also.