Rental Deposit Loan

Renting new apartment? Avail personal loan for security deposits.

Customized personal loan for security deposit payment to landlord for 11, 22 and 33 months tenure. You pay us only interest on total loan taken.

So, how Rental Deposit Loan works?

Renting new apartment means hassle. Right from searching to shifting in new accommodation. Expenses can be overwhelming. With Overdraft facility repayment plan, moving cities and changing homes has become easy as Rental Deposit loan helps solve financial worry for the security deposit of rented properties.

Why LoanTap's Rental Deposit Loan?

In big cities, wherein tenant has to pay advance rental of 8-12 months as a security deposit, it becomes a major deterrent in finalizing one's choice of home. The loan amount is paid to the landlord directly and the tenant pays the interest on the principal loan amount calculated for the duration of the rental lease. The principal loan amount is paid back to LoanTap upon lease termination. This helps you ease the worry of a big financial ticket while shifting.

Instant loan processes and minimum documents

Apply online. Disbursal within 24-36 hours of application with minimum documents

Keep savings intact

Nominal monthly outgo therefore no impact on savings or investments while renting new apartment

First to offer

LoanTap is first and only one to offer you this unique personal loan for security deposit

Transparent Processes

No hidden charges, No pre-payment charges. Minimum documentation & secured processes

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eligibility-criteria

Eligibility Criteria for Rental Deposit Loan

1

Individuals with a minimum income of INR 30,000

2

Indian Citizens/Residents who are 21 years & above.

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Flexible Instalment Options

Final instalment options for a loan will be decided based on your profile and inputs

Overdraft

0 Usage, 0 Interest. You are required to pay only interest on the amount withdrawn from the sanctioned Credit Limit while the Principal amount can be repaid and withdrawn within the sanctioned tenure multiple times

Ideal when: The amount of expenses involved in an event are variable

Term Loan

Repayment done via Fixed Equated Monthly Instalments, where EMI = Principal + Interest.
Each instalment reduces both interest and Principal amount.

Ideal when: You know the precise Loan Amount needed and your income is consistent

How we make loans happen in 24-36 hours

online application
Online Application

Apply online, upload basic documents or mail us

record your time
Record your time for representative visit

Download documents as per checklist, sign and handover to our representative.

verification sanction disbursal
KYC & Fund transfer

We check documents, verify them and activate instant disbursal online

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