Support and FAQ’s

Need Help?
We got you.

Students

ZapMoney, one of the best loan apps for college students to build a credit score, will provide ₹ 3000 as the starting amount.

ZapMoney helps college students in building a credit score who can furnish proof of college enrollment and complete the KYC process. If you are a salaried professional, you will have to submit the payslips of the last 3 months and complete the KYC process.

ZapMoney, one of the most affordable loan apps for college students provides loans to college students who can furnish proof of college enrollment – such as college ID, marksheet, etc along with KYC documents.

If you are New to credit and not registered with a credit score, we have devised a fun game to help us know you better and formulate the perfect product for you. Once you complete your application, we will provide you with the link to the game which needs to be completed before we transfer the loan amount.

For a College Student, it would take less than 15 minutes to onboard. After document verification, the loan would be disbursed in less than 15 minutes and you will be informed about the same.

The amount given in a personal loan is directly transferred to your bank account and you can use it for any personal reason anywhere.

While completing the registration on the app, you can check if your college is listed with us.

You can mail us at support@zapmoney.in and we will help your college get registered with us at the earliest.

Salaried

ZapMoney, one of the most affordable apps provides loan amount up to ₹1 lakh to salaried individuals.

To avail a loan from ZapMoney, you need to have salary slips of the last 3 months, and other KYC documents. Only a student can avail a loan with just college ID proof and KYC documents.

For a salaried individual, their PAN Card and salary slips of last 3 months are required to apply for a loan on ZapMoney.

It depends. If you are a college student, then you can avail a loan with just the college ID card and KYC documents. If you are a salaried individual, then you would have to verify your income by submitting salary slips of the last 3 months and bank statements.

For the fastest disbursal, please input the details of your salaried bank account. Entering any other bank account details may lead to delay in verification or even in some cases rejection of your loan application.

For a salaried individual, the onboarding process will take less than 15 minutes. Once your profile has been verified, the subsequent loan amount can be disbursed instantly.

The amount given in a personal loan is directly transferred to your bank account and you can use it for any personal reason anywhere.

About ZapMoney

The ZapMoney app makes personal finance easy, accessible, and affordable. The App is available on Google Play Store and App Store for download, allowing you to sign up and access easy personal loans. ZapMoney is powered by Monexo Fintech Private Limited which is a registered NBFC-P2P.

Any Indian individual above the age of 18 can apply for a loan through ZapMoney platform.

ZapMoney is a brand of Monexo Fintech Private Limited. Monexo Fintech Private Limited is an RBI registered NBFC-P2P.
Yes!! ZapMoney is a brand of Monexo Fintech Private Limited. Monexo Fintech Private Limited is an RBI registered NBFC-P2P.
ZapMoney is a brand of Monexo Fintech Private Limited. Monexo Fintech Private Limited is an RBI registered NBFC-P2P.

No, this is a personal loan and very different from a credit card.

We are currently available in only the following cities:

South: Alappuzha, Belgaum, Bengaluru, Calicut, Chennai, Chittoor, Coimbatore, Conoor, Cuddalore, Dindigul, East Godavari, Guduvanchery, Guntur, Hyderabad, Kanchipuram, Karimnagar, Karungal, Karur, Kochi, Kolam, Kolar, Krishna, Kurnool, Kv. Ranga Reddy, Madurai, Mandya, Mangalore, Medak, Mysore, Ongole, Ooty, Pallakad, Rangareddy, Ranipettai, Salem, Secundarbad, Srikakulam, Tambaram, Thiruvananthapuram, Thoothukkudi, Thrissur, Trichy, Vellore, Visakhapatnam, Walajabad, Warangal.

West: Ahmedabad, Gandhinagar, Mumbai, Nagpur, Nashik, Pune, Surat, Vadodara.

North: Agra, Bhopal, Chandigarh, Delhi, Ghaziabad, Gurgaon, Gwalior, Indore, Jabalpur, Jaipur, Jodhpur, Kota, Lucknow, Nabha, Noida, Udaipur, Varanasi.

East: Bhubaneshwar, Darjeeling, Guwahati, Howrah, Kolkata

We will be expanding to other cities soon. Thankyou for your patience.

Loan Eligibility

Any Indian individual above the age of 18 can apply for a loan through ZapMoney platform.

For individuals, ZapMoney provides access to loan amounts up to ₹2 lakhs.

ZapMoney is a digital platform and is available across all cities in India.

If you are a college student, then very minimal documents such as College ID and KYC documents like Aadhar and Voter ID or Driving license are required. For a salaried individual, it would require you to submit the salary slips of the last 3 months along with your PAN card to apply for a loan on ZapMoney.

Yes, an Aadhar card which is linked with your mobile number will be required.

It is required for completing the KYC process and e-signing the loan agreement through the OTP that UIDAI will send you to your mobile number.

App

Approval of a profile is a one time activity. After a profile has been approved, subject to a loan limit, money will always be disbursed from ZapMoney side in less than 15 minutes If you are facing any problem you can contact us at support@zapmoney.in and mention your registered mobile number in the mail.

Yes, you need to install the ZapMoney app on your mobile phone via Google Play store to apply for a personal loan.

No, once your documents have been successfully verified, you don’t need to upload the details again and again. However, you are required to notify us and upload new documents in case there are any changes to employment, salary or residence.

Sometimes, the documents take time to be verified by the app. In that case, the credit manager verifies the document manually. This could take some time to do but it should be solved within 24 hours. If you are facing any problem you can contact us at support@zapmoney.in and mention your registered mobile number in the mail.

We try to do a bank verification as quickly as we can, but sometimes the bank servers act up and delay the process of bank verification. If you are facing any problem you can contact us at support@zapmoney.in and mention your registered mobile number in the mail.

No, you can only get the loan amount transferred to your own personal savings bank account.

Please send us a video or screenshot of the problem that you are facing along with the registered mobile number to support@zapmoney.in, and we will reach out to you at the earliest.

Charges

ZapMoney’s Annualized Percentage Rate varies between 18%-36%.

Annual Percentage Rate or APR is an expression in terms of percentage which tells the total annual cost for the loan. It includes the interest rate and other charges like processing fees, assessment fees, etc. It explains to the borrower what is the real amount that they would have to pay for taking a loan.

ZapMoney charges a flat processing fees 6.49 % to 11.8% depending on the loan amount.

There are operational costs associated with performing credit checks and sanctioning the loan and that is why the processing fee is charged upfront from the loan amount. However, this is a standard industry practice followed by all financial entities.

For any late payment, you will be charged a per-day penalty charge of 0.2% on the installment principal amount for each and every installment that is overdue. Additionally, an overdue interest will be charged on the outstanding principal of the installment for each day that the installment is overdue. Note that the late payment charges are to be paid in addition to the regular and overdue interest payment and the instance would be reported to the Credit Bureaus as well. To avoid late payment charges, maintain enough balance in your bank account before the EMI date.

Loan Repayment

We always do an eNACH before the disbursement of loans, so just maintain enough balance in your account before the EMI date as chosen by you.

Before the loan amount is transferred to your account, you have to complete the eNACH form. The eNACH is an auto-debit service which allows us to deduct EMIs directly from your bank account, so that you don’t have to remember to pay your EMI on time. Please maintain appropriate balance in your account before the EMI date as chosen by you to avoid late fees. For any other queries you can contact us at support@zapmoney.in and mention your registered mobile number in the mail.

Before getting the loan amount, you choose the EMI date when doing the eNACH procedure. That is the date when your EMI will get deducted automatically from your account.

It is always good to operate on an early repayment schedule. It will positively reflect upon the loan limit with ZapMoney. And the best part, you pay zero (0) prepayment charges.

If the EMI is not paid on time, we consider it as an overdue. As such, some penalty charges in the form of late fees are levied. It would poorly reflect on your Credit Score also.

Sometimes, because of network issues or the banking servers acting up, the money gets debited from your account but it does not get accepted by the payment gateway. In that case, you should get your money back to your account within 7 working days. If you still do not get the money back to your account, you can get in touch with us at support@zapmoney.in and please mention your registered mobile number along with screenshots to help you better.

Issue not solved? Write to us.

Contact Us