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  • Category: Finance & Banking

    What are the Moneytap loan foreclosure charges ?

    Want to close your loan or payoff prematurely on Moneytap and want to know the charges for it? Know from our experts what are the charges you need to pay for it.

    I would like to know what are the Moneytap loan foreclosure charges. Can anyone else who uses or has tried Moneytap tell me?
  • Answers

    1 Answers found.
  • You can take money as loan using Moneytap app in two ways. First is transferring money from App to bank account and then converting this to some EMI of your choice. If this loan is prepaid by you instead of going for that EMI period for repayment then there is no foreclosure charges on this loan amount. On the other hand if you make a payment through card by taking a loan from Moneytap then that also would be converted to an EMI of your choice but if you want to foreclose it by repaying the amount earlier then 3% foreclosure charges on the loan amount would apply.

    Knowledge is power.

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