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Jul 17, 20194 min read

How Much does it Cost to Develop a Loan Lending App Like MoneyTap?

Cost to Build Loan Lending App like MoneyTap |Loan Lending app development cost

As per recent survey and latest reports, it confirmed that the latest technologies such as mobile apps are ruling every business, this shows for every 10 persons 8 persons are holding a Smartphone with an internet connection. In space, mobile apps arrived to reach a wider audience from food ordering to taxi booking everything can done with mobile app development.

Every industry has transformed with mobile apps some famous apps like Swiggy, education app like Byju’s, E-commerce app like Amazon, and taxi-booking app like OLA has to make sense with huge profits.

In the Finance industry lending money and paying money through bank is tough process. This process made simple with mobile app development. Many regular transactions done with simple clicks.

Loan lending mobile app development process can reduce these barriers between the users and banks. The loan app helps in reducing the workload of going to the banks. These types of apps provide end-to-end solutions for loan approval, eligibility of borrowing, paperwork, repayment, and credit scoring etc.

In 21st Century, Getting loans is not a big deal. The Mobile App technologies have completely transformed the Banking & Finance Industry, So that now a day’s users are getting the instant approval for their Loans over the money landing mobile app in just one tap.

Mobile application technology proved the best available option for the lengthy-term loan approval process. Using these mobile apps, now users can use a few simple clicks and get the loan approved instantly.

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About MoneyTap

Money Tap is a start-up, headquartered in Bangalore. With 50, 00, 000+ downloads on play store Money Tap is the first private credit line Mobile app, Which has tied up with various banks for the instant loan approval service. The App allows you to lend Money instantly, range starts from Rs 3000 to Rs 5, 00, 000 in single tap. Recently MoneyTap has achieved the following milestone,

  1. Money Tap Has been awarded the “Best Lending product/services” by Internet and Mobile Association of India{IAMAI}

  2. Money Tap has also being listed in the 50 most innovative start-ups.

How does on-demand Lending app like MoneyTap application works?

  1. Install the MoneyTap app on your Mobile phone from the app store.

  2. Create your profile, upload documents, verify your eligibility, and received an approval within 4-5 minutes and Done!

  3. Once your Documents got verified you will able find out your approved credit amount.

Why MoneyTap App?

  1. It’s a 100% paperless process, MoneyTap credit line offers you an instant loan online.

  2. Once we allocate your credit line, you can use any amount from your credit line available

  3. Now you have to pay interest on only borrowed amount, no interest on the unused amount left over.

  4. Provides flexible EMI tenures for the

  5. A personal loan application free of headache.

  6. The fastest medium to get you loans through online with just simple steps.

Most Loved features of MoneyTap personal credit line app

  1. Credit limitation: The app allows you to lend Minimum of Rs. 3000 & maximum of Rs. 5 Lakhs.

  2. No interest on unused amount: Interest will only pay on the conversion in EMI. There is no interest for the unused amount.

  3. Less Interest rate: The interest rates for borrower vary from 1.25-1.5 percent /month with no extra cost or hidden charges, which attract the most of the users towards these brands.

  4. Customize EMI option : Through the iOS/Android mobile app customer can now choose their customized tenure period for repayment of loan amount.

Why your Loan Lending Business Needs a MoneyTap like App?

  1. Mobile App Increase your business value to customers.

  2. Increase the customer engagement.

  3. Helps in increasing the Brand awareness globally.

  4. Can Boost the Business Sales.

  5. Mobile apps act as a source of valuable customer insights.

MoneyTap App development – What to start with?

  1. You need to decide how your business app is going to built for the very start and which Loan lending app Development Company you are choosing for your business app development. If they have a big team of experienced developer in different programming languages, they can easily do everything from scratch.

  2. Also, choose your app development platform wisely before starting the development process which platform would be more benefit whether it’s Android app platform or iOS app platform or both.

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How DxMinds helps you to build a mobile app similar like MoneyTap?

Idea : A good idea is needed in the development stage of starting a company and this idea can, whether it originates from you or us. If you come up with an concept, we’re going to listen to it and attach our knowledge with a suitable alternatives

Concept: R&D plays a major role in the starting phase of a company. For an efficient company alternative, adequate market analysis, UI design needed.

Implement: DxMinds implement the measures as customer requirements. Being transparent and working according to what fits the functionality and features for the custom mobile apps. The custom solution relies more on bringing the clients to require characteristics and functionality.

Testing: DxMinds provides the latest and advanced tools for testing the mobile app by the team of expertise software tester. You can ensure of a bug-free iOS/Android app after the complete testing process. If any problem comes, our team would help you to assist.

Support: We do provide free support for a period of 3 months after the particular projects has been delivered to the client.

How much does it cost to develop a similar lending app like MoneyTap?

When you make a Mobile application like MobileTap every Mobile Application development company has its pricing models for making these apps, there is an uncertainty in the cost of building up a “MoneyTap” mobile application.

Therefore, it is very difficult to give an exact figure about the pricing but to have an idea about the app development cost estimate, consider the following criteria:

  1. The applications with just a basic variant with only the MVP functionality and appealing UI / UX design, the development cost can be as high as $10000-20000.

  2. The price may rise to somewhere between $15,000 to $40,000 for a mixture of basic and advanced components.

  3. The price can increase to as high as $40,000 to $70,000 for the application to be delivered with all the complex features that MoneyTap now has.

Taking into account all the different factors such as the best Loan Lending app developer, and best loan lending mobile app development, the Loan lending app development cost  at DxMinds will come around $20000-$70000.

If you want to build your Loan lending app developed from DxMinds, we also offers free quotes and consultation about your business model and features in building your similar app like Money Tap app. So, to start your apps development projects without any delay.

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