So you want to know how to delete MoneyTap account, right? Okay, you’ve come to the right guide. I myself have permanently closed my MoneyTap account, so I can assist you in closing yours too.
As you know, MoneyTap is a loan app that provides instant personal loans up to ₹5 lakhs with a 13% interest rate per annum. It keeps providing various offers and benefits from time to time.
However, if you’re an existing user and not satisfied with their service, you can close your account permanently. In this article, I have shared the steps that I followed to close my MoneyTap loan account.
So, without further ado, let’s jump into this article and learn how to delete MoneyTap account.
Points to Remember Before Deleting Your Account
If you have decided to close your MoneyTap account, then you need to remember the following points before closing your account.
Clear Your Loan EMIs – If you have taken any loan from MoneyTap and its EMI is still pending, then pay your EMIs first. You can’t close your account if you have any pending dues.
Take NOC from MoneyTap – After clearing all the pending dues, take the NOC (No Objection Certificate) from MoneyTap. NOC proof that you have paid all your loan EMIs.
Cancel Ongoing Application – If you have applied for a new personal loan on MoneyTap, then cancel it immediately. If you don’t cancel it, your account will not be closed.
Pay Account Closure Charges – If there are any charges applicable for account closure, then you need to pay the charges.
How to Delete MoneyTap Account
For your information, let me tell you that MoneyTap does not provide the loan amount itself. It has partnered with some NBFC/Banks that provide the loan amount you applied on MoneyTap.
If you wish, you can view the list of lending partners. I told you about its lending partners so that if you ever face any problem with MoneyTap, then you can contact their lending partner.
Now let’s learn how to delete MoneyTap account.
Steps to Delete Your MoneyTap Account
Step 1: Open Gmail and tap on the “Compose” button to write a new email.
Step 2: Under the “To” section, write the MoneyTap helpline email address – hello@moneytap.com
Step 3: Write “Delete/Close My Account Permanently” as the subject of the email.
Step 4: Under the compose email section, write concisely why you want to delete your account, including your account details.
Step 5: Once you complete writing the email, tap on the send icon located at the top-right corner.
Here I have shared the screenshot of the email I sent to MoneyTap customer support. So, you can write and send an email like this one 👇
What if MoneyTap doesn’t close your account? If MoneyTap doesn’t close your account you can reach out to their lending partner. As I’ve told you, contact the Bank or NBFC that has provided the loan or credit line.
For RBL Bank (a lending partner of MoneyTap), you can dial 1800-121-9050 or email at cardservices@rblbank.com.
>> Also Read – How to Delete KreditBee Account? 100% Working Trick
Why You Should Close Your MoneyTap Account
To open an account on the MoneyTap app, you have to give your Aadhaar, PAN, and bank details. Not only this you need to agree to their policies and give multiple permissions. Sometimes it might be quite risky.
MoneyTap itself says that your data is not transferred over a secure connection. However, they provide an option to delete your data. If you request for the same, they will surely delete your data from their server.
So, if you don’t want to use MoneyTap anymore, then it would be better if you close your account and delete all your data from their server.
>> Also Read – How to Close Amazon Pay Later Account – 3 Simple Methods
Bottom Line: How to Delete MoneyTap Account?
In summary, deleting your MoneyTap account is a straightforward process. Contacting MoneyTap customer support is the only way of deleting your account. And, deleting your data from their server is also necessary.
In this article, I have shared the step-by-step process. Actually, I have shared the steps that I followed to delete my MoneyTap account.
So, I hope this article helped you learn how to delete MoneyTap account.
Frequently Asked Questions
Q. How do I foreclose my MoneyTap loan?
As MoneyTap explained on their website, you should reach out to the Bank/NBFC that provided the loan to foreclose your loan.
Q. How do I contact MoneyTap customer care?
To contact MoneyTap customer care, write an email to hello@moneytap.com. MoneyTap does not provide phone support.
Q. Is MoneyTap safe?
Yes, MoneyTap is absolutely a safe credit lending platform. It provides loans and credit cards through some RBI-Licensed NBFC/Banks.
Q. Does MoneyTap sell customer’s data?
No, MoneyTap doesn’t sell customer’s data. MoneyTap shares the data with their RBI-approved lending partners to provide loans. However, if you wish, you can read their terms and policy.
Q. Does MoneyTap affect credit score?
Yes, it may have an impact on your credit score. It will improve your credit score if you make repayments timely. On the contrary, it will hurt your credit score if you make late repayments.