LoanTap starts its own website LoanTap.in

MUMBAI: Mumbai based online platform LoanTap, which delivers flexible EMI free loan products to salaried professionals has started its own website by the name of LoanTap.in.

Borrowers can now apply for custom- made loan products from an array of offerings like overdraft facility, credit card takeover loans, rental security deposit loans, advance salary loans and consumer durable loans.

The platform follows an agency-based collection model catering to the low delinquency salaried segment with a job experience of merely 2-5 years in its first phase. It also makes a pitch for flexible single and bulk payments that are convenient and cost-effective.

"The smart products and services available on our online platform have been innovated for the millennials keeping in mind the otherwise risk-averse low salaried loan segment. Moreover, there was also a need for a consumer-friendly credit facility in this competitive fintech space. The minimal human interface and interruption on our platform eases the algorithm verification for predicting loan amount estimates,” said Satyam CEO of LoanTap.