Short answer: Freo (formerly MoneyTap) is a credit line: you get a limit and pay interest only on what you draw. Its rates start at 12% (Play: 12% to 36%). Fibe is a fixed EMI loan from 18% with nil foreclosure charges. Freo’s Play listing also shows a ₹999 + GST setup fee in its example.
Last verified: 12 October 2026 from each company’s official website and, where marked, its Google Play listing. Rates and fees change; the lender’s Key Fact Statement (KFS) and loan agreement decide your actual terms. FundsTiger does not rank lenders.
Freo (MoneyTap) vs Fibe at a glance
| Freo (MoneyTap) | Fibe | |
|---|---|---|
| Type | Credit line app (platform for RBI-regulated partner lenders) | Loan app (formerly EarlySalary; platform for RBI-regulated partner lenders) |
| Loan amount | ₹3,000 to ₹5 lakh | Up to ₹10 lakh |
| Interest rate | From 12% a year (website); 12% to 36% (Google Play) | From 18% a year (reducing balance) |
| APR | 10% to 70% (Google Play) | From 18% a year |
| Processing fee | From 2% at disbursal (website); Google Play: 0% to 7% plus a ₹999 + GST setup fee in its example | From 2% + GST |
| Tenure | 3 to 36 months (credit line page) | 6 to 36 months |
| Minimum income | ₹25,000 a month (website); ₹30,000 salaried only (Google Play) | ₹20,000 a month in-hand |
| Who can apply | Website: salaried and self-employed, credit score 650+; Google Play: salaried only | Salaried only (private or public sector) |
| Age | 22 to 55 | 19 to 55 |
| Prepayment and foreclosure | Up to 3% to 4% of outstanding in some cases; no lock-in | Nil foreclosure charges; no prepayment penalty |
| Product | Credit line (interest only on what you use) + term loan | Term loan (EMI) |
| RBI-regulated lenders | Kisetsu Saison Finance, SMFG India Credit, InCred Financial Services, RBL Bank, Apollo Finvest, Cholamandalam Investment and Finance, Komac Investments & Finance | EarlySalary Services, Northern Arc Capital, InCred Financial Services, HDB Financial Services, Vivriti Capital, Kisetsu Saison Finance, Piramal Finance, Tata Capital, Cholamandalam Investment and Finance, Oxyzo Financial Services, Krazybee Services, Mirae Asset Financial Services, SMFG India Credit |
| On RBI’s digital lending app list | Yes: 9 RBI-regulated lenders list it; 50L+ installs, rated 4.1 | Yes: 14 RBI-regulated lenders list it; 1Cr+ installs, rated 4.6 |
| Also worth knowing | Interest only on the amount drawn; Some Google Play reviews report paused limits after policy changes | Soft-inquiry eligibility check; new-to-credit borrowers accepted; Only one active loan at a time |
Install counts and ratings are from Google Play, as recorded on RBI’s digital lending app list check of 5 October 2026.
What a ₹50,000 loan over 12 months would cost
We costed the same loan on each lender’s advertised figures, using the standard reducing-balance EMI formula and adding 18% GST to fees where the lender quotes them before tax. The lowest advertised rate is usually for the strongest credit profiles; many borrowers are offered more.
| Lender | Scenario | Rate a year | EMI | Total interest | Fee incl. GST | Total cost |
|---|---|---|---|---|---|---|
| Freo (MoneyTap) | Lowest advertised rate | 12% | ₹4,442 | ₹3,309 | ₹1,180 | ₹4,489 |
| Freo (MoneyTap) | Highest Google Play rate | 36% | ₹5,023 | ₹10,277 | ₹1,180 | ₹11,457 |
| Fibe | Lowest advertised rate | 18% | ₹4,584 | ₹5,008 | ₹1,180 | ₹6,188 |
Try your own numbers in our personal loan EMI calculator. For loans quoted only as APR, the APR already includes fees, so the total is an estimate.
Key differences
- Product: Freo is a reusable credit line; Fibe is a one-off term loan (one active loan at a time).
- Rate: Freo 12% to 36% a year (Play); Fibe from 18%.
- Fees: Freo from 2%, plus a setup fee in its Play example; Fibe from 2% + GST.
- Age: Freo 22 to 55; Fibe 19 to 55.
Which should you choose?
Freo (MoneyTap) may suit you if your need is irregular and you would rather draw small amounts as needed than take one lump sum.
Fibe may suit you if you want one fixed EMI loan, are under 22, or may repay early without a charge.
Whichever you pick, compare the APR in the KFS you are actually offered, not the advertised starting rate.
Before you apply
- Find the lender’s name in the app and check it on RBI’s list of digital lending apps or our RBI-registered NBFC search.
- Read the Key Fact Statement (KFS) before you accept. It must show the APR, every fee and the total you will repay.
- Never pay a fee before the loan is disbursed. Regulated lenders deduct fees from the loan or add them to the EMI.
- Apply to one or two lenders, not ten. Each application is a hard enquiry on your credit report.
- Check that the EMI fits your budget with our FOIR calculator.
Want to see offers from several RBI-regulated lenders in one place?
Frequently asked questions
Is MoneyTap the same as Freo?
Yes. MoneyTap is now called Freo, and the same credit line is offered through the Freo app with partner lenders.
Does a credit line cost less than a personal loan?
Only if you use part of it. You pay interest on the amount you draw, but setup and drawdown fees still apply. Compare the APR in each KFS.
Are these lenders RBI-regulated?
The loans described here are given by RBI-registered NBFCs or banks named in the table. Check the lender named in your loan agreement on RBI’s digital lending app list.
Where do these figures come from?
From each company’s official website and, where noted, its Google Play listing, checked on 12 October 2026. Where a company’s own pages disagree, we show both figures.
Sources
- Freo credit line
- Freo personal loan
- Freo partners
- Freo on Google Play
- Fibe personal loan page
- Fibe lending partners
Read more: Freo (MoneyTap) app review · Fibe app review · All loan app reviews · Lender directory
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Disclosure: FundsTiger (Gatimaan Finance Advisors Pvt. Ltd.) is a loan marketplace and lending service provider for RBI-regulated lenders. Aparampaar Finance Pvt. Ltd. (Omozing), one of those lenders, is a related party of FundsTiger. This article is general information, not financial advice. Read your loan agreement and KFS before you decide.