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Borrowers* register themselves on the website and upload ID and address proof documents.


Once approved, they can apply for a loan and submit financial documents in parallel. OpenTap verifies the authenticity of documents submitted and provides lenders with the filled in loan application. If a suitable lender is available for the submitted loan, the loan is approved. Repayments are done on a monthly basis.

The loan application, verification and approval process is turned around in 72 hours.


Maximum loan tenure is 12 months and the maximum loan amount is INR 50,000.

*Eligible borrower requirements
 
  • Should be 21 years (and above) of age

  • Should be an Indian citizen

  • Should have valid ID and address proof

  • Should have valid bank account

  • Should be able to present pay slips and bank statements for 3 months