Cashe Personal Loan

CASHe Loan

CASHe is a fintech product from TSLC PTE. LTD. that offers instant personal loans to their customers on a very easy to use mobile application. Their application is powered by an algorithm called The Social Loan Quotient (SLQ) that makes a credit profile of their customers that is very different from other lenders. CASHe provides loans in minutes to young professionals without much paperwork. These loans are very quick and can help the individual pay for a sudden expense, plan a trip or organize a wedding.

What is Instant Personal loan?

A personal loan is a type of loan that is provided to a customer for a short tenure that usually ranges from one month to twelve months. These are beneficial for individuals who are unable to get loans for a longer tenure from a bank or a lender. Short-term loans are generally unsecured, meaning that you do not have to provide any money or property as security for the loan amount.

An introduction to CASHe Personal Loan

CASHe provides instant personal loans that can be availed based on one’s ever changing needs and wants. Loan amounts range from Rs.10,000 to Rs.2,00,000 and the repayment tenures that can be opted for are 15 days, 30 days, 90 days or 180 days. CASHe can be used with ease from one’s smartphone and they provide very quick personal loans. These loans can be used to make an EMI payment on-time, for paying other monthly bills, for buying a product or for taking a vacation.

Types of CASHe Loans

• Personal Loan:

CASHe offers personal loans to their customers if they are in need of funds for emergencies such as paying the deposit for a new house, going on an unplanned trip or paying medical expenses. This can be availed by salaried or self-employed individuals and the loan is generally granted within 48 to 72 hours.

• Small and Medium Enterprise Loan:

CASHe offers small and medium enterprise loans for small and medium scale companies. The eligibility criteria and details of this loan can vary with institution from which the loan is applied for.

Features and benefits of CASHe Loans

• Flexible end use

CASHe Loans are multi-purpose loans, meaning, they can be utilized for planning a wedding, taking a family trip, upgrading your home, paying for education, buying products such as electronics or furniture, expanding business or paying for a medical emergency.

• Loan amount

CASHe offers loan amounts starting at just Rs.10,000 up to Rs.2 lakh for instant personal loans. Customers can choose the loan amount based on personal needs.

• Interest rates

CASHe offers interest rates that begin at just 1.5% per month. Since it is a instant personal loan, this works out to be very reasonable for the customer.

• No collateral needed

CASHe instant personal loans are unsecured. This means that you do not need to provide any collateral as security for the loan amount.

• Mobile application

CASHe provides an easy to use application that can be installed on a smartphone. The entire loan process can be completed with this app on the phone. This makes it very fast and convenient for the customer.

• Credit score

Usually, a good credit score is not needed for the loan to be approved. This is very beneficial for customers with a low credit score. An individual with no credit score can also apply for a loan with CASHe.

• Minimal documentation

The paperwork and documentation that is needed for the loan approval is very minimal. This makes the entire process fast and easy for the customer.

Eligibility criteria for CASHe Personal Loans

To apply for an CASHe Personal Loan, there are certain eligibility criteria to meet. They are:

• Must be a salaried or self-employed individual
• The individual should be within the age of 21 years to 60 years
• For a 15-day tenure, 30% of one’s monthly net take home salary can be taken as the loan amount not exceeding Rs.50,000
• For a 30-day tenure, 40% of one’s monthly net take home salary can be taken as the loan amount not exceeding Rs.50,000
• For a 90-day tenure, 100% of one’s monthly net take home salary can be taken as the loan amount
• For a 180-day tenure, 200% of one’s monthly net take home salary can be taken as the loan amount
• For a 1-year tenure, 360% of one’s monthly net take home salary can be taken as the loan amount

Documents needed for CASHe Loans

There are five basic documents that one needs to provide in order to get the loan sanctioned by CASHe. These documents are:

• Photo Identity proof - PAN Card
• Proof of residence (Passport/Driver’s license/Voter’s ID/Phone or Electricity bill)
• Latest bank statement showing your salary credit
• Latest Salary slip
• Aadhar card

A selfie is also asked as proof of photograph. Information is used only internally.

How does CASHe work?

• You need to download the CASHe application that is available on iOS and Android.
• You then need to register with your Facebook, LinkedIn or Google+ account.
• You must then fill in the application form and upload 5 basic documents that are needed.
• You can then enter the loan amount needed based on your eligibility.
• The loan amount is then transferred to your bank account in minutes.
• Finally, you can repay the loan in easy instalments.

Fees and charges for CASHe Loans

• A flat processing fee of Rs.500 is applicable on loan amounts ranging from Rs.5,000 to Rs.15,000. A flat processing fee of Rs.750 is applicable on loan amounts ranging from Rs.16,000 to Rs.30,000. A flat processing fee of Rs.1250 is applicable on loan amounts ranging from Rs.31,000 to Rs.50,000. A flat 2% processing fee is charged on the principal amount for a tenure of 90 days.

• Rs.1250 is charged as processing fee for loan amounts of up to Rs.1,00,000.
• Rs.1750 is charged as processing fee for loan amounts ranging from Rs.1,00,000 to Rs.1,49,000.
• Rs.2250 is charged as processing fee for loan amounts ranging from Rs.1,50,000 to Rs.2,00,000.

Repayment options for CASHe Loans

You can repay your CASHe Short-Term Loan’s EMI payments using NEFT. One cannot choose IMPS or cheques for repayments.

• You must enter your CASHe CLN# as account number in the field called Account number and choose the account name as Bhanix Finance and Investment Ltd.
• Ensure that the IFSC code is KKBK0000958.

CASHe Loans – FAQs