Digital lenders like CASHe offer instant personal loans through a smartphone application which offers 100% online application and quick disbursal
The process of applying for a loan is a breeze
Unlike a Home Loan or Auto Loan, which are meant to be used for a specific purpose, the funds you get from a personal loan can be used for any purpose. The lenders usually don’t set any restrictions on the end usage of the funds. You can use the money to fund your dream vacation, renovate your home, or buy expensive furniture for your home.
Subject to meeting the lender’s eligibility criteria and with a good credit score, you can get your loan approved and disbursed typically within a day.
Typically, loans offered by digital lending company, CASHe, offers loan tenor options ranging from a mere two months to up to 18 months
Another critical benefit of taking a personal loan is that you have the liberty to choose the loan duration as per your 
repayment capacity. This gives the borrower a wide choice of repayment plans to choose from.
As personal loans are unsecured in nature, collaterals are not provided for getting a loan. This feature is one of the most attractive reasons why people opt for a personal loan. Personal loans are unsecured. You need not provide an asset as collateral for getting a personal loan. However, some lenders charge higher rate of interest precisely because it is unsecured in nature.
CASHe provides unsecured short-term personal loans from Rs 1,000-400,000 for loan tenors ranging from 3 months to up to 18 months through a smart, intelligent digital app. Its user-friendly interface enables faster loan application and quicker loan disbursals. The user logs in using his Facebook, LinkedIn or Google Plus accounts. The next step includes filling in basic details and uploading his identity proof such as PAN card along with his latest salary slip and bank statement using the app. Once registered, the eligibility is confirmed within minutes along with the eligible loan amount. The eligibility is calculated using a sophisticated algorithm that mines the borrowers’ mobile and social network and requests basic documentation to arrive at a Social Loan Quotient – SLQ score and a loan eligibility amount. One the credit is approved; the requested amount is credited to the user’s bank account within minutes. The repayment process too is as simple as applying for a loan. The user can directly credit the amount back through bank transfer on the designated due dates.
CASHe charges processing fee starting from Rs 500 to Rs 1,200 depending on the loan product you are eligible for. Our interest rates are competitive and calculated on a per-month basis on the entire amount. We offer a 2.50% interest rate per month on the loan amount.
We also offer a 7-day interest-free grace period to pay your EMI at the end of every month. But do note that there is a 0.7% interest fee penalty charged for any subsequent payment delays.
- Proper documentation: Uploading the necessary documentation is one of the primary requirements for a successful loan application. As the platform is 100% digitized, all documents are expected to be uploaded on the app itself. Do note, for faster processing and approval and disbursals, the documents need to be genuine and legible.
- Your credit score: While most financial institutions consider the bureau scores to determine your credit history before lending you a personal loan, CASHe uses sophisticated AI-based algorithms and alternative data sets to arrive at your credit score. The scores generated from SLQ determines your credit worthiness.
- Good repayment history: It is imperative to have a good repayment history on your past loans be it from CASHe or from other financial institutions and banks. Late repayments or default status on any loans against your name will automatically flag you as a customer with a negative profile on our platform.
