"Money Tap" is an APP which saction loans. Money Tap founder Anuj Kakkar while talking to media says that the consumer needs to fill in the application online for the loan amount as per the norms of KYC, later the data of which will go to the corresponding banks, and after Digital Verification the loan amount will be arranged. "The interest rate will vary between 12 to 18% while the one time set up fee is Rs 499 and the processing fees will be 2 %", says Anuj. The Higher limit of loans through this APP is said to be Rs 5 lakhs. Anuj says that nearly 70000 people downloaded the APP so far and the target of the APP is to extend services to 3 lakh people.