What is Freo? Freo Review, Features

Freo is India’s first credit-led neobank, designed to cater to the banking needs of millennials in India and Southeast Asia.

About Freo

• Through this credit-led neobank, Freo consumers will have access to financial products such as lines of credit, credit cards, EMI cards, deposits and savings, buy now, pay later and other financial instruments to help build their credit profiles, borrow flexibly, save easily and spend wisely.
• Freo has built an intelligent and efficient product and data engine that uses machine learning to generate actionable insights across risk, collections, product, marketing and operations functions.
• Freo products that customers currently enjoy include MoneyTap, an app-based personal line of credit, FreoSave, a digital savings account, FreoPay, a buy now, pay later app, and Fit.Credit, a credit scoring and insights app.

MoneyTap

MoneyTap is India's first app-based personal line of credit, offered in partnership with banks and NBFCs. With the tap of a button, this app lets you borrow as little as Rs 3,000 or as much as Rs 5 lakh, depending on the credit limit set by our bank partners. What's more, you only pay interest on the amount you withdraw.

Documents required to apply for MoneyTap

• Aadhar card (preferred, not mandatory) or at least Aadhar number
• Pan Card (required)
• Company name, company email address
• Online banking login information for your payroll account

Freo's Vision

Free consumers from the constraints of non-digital financial services and provide a simple, intuitive and smart way to access credit and manage money easily on their mobile phones.