CASHe Loan

CASHe is a lending app that offers instant Personal Loan of up to 2 Lakhs without any security or collateral. These personal loans can be used for any purpose, including the purchase of gadgets, wedding expenses, planning a holiday, medical emergencies, repairs & renovations of house, etc. CASHe Loans are offered at an interest rate starting as low as 2.75% p.m. You don't require any CIBIL Score for these loans and can repay them in flexible tenure of 62 days, 90 days, 180 days, 270 days, or 1 year.

Interest Rates   2.75% p.m
Loan Amount  7,000 to  2 Lakhs
Tenure 62 days, 90 days, 180 days, 270 days, or 1 year
Loan Processing Fee Up to 1.25% of the Loan amount
EMI Bounce Charges  400+ GST
Prepayment Charges 5% on principal outstanding + GST
 

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Features of CASHe Personal Loan

Loan amount

 7,000 to  2 Lakhs

Rate of interest

start at 2.75% per month

Repayment tenure

62 days, 90 days, 180 days, 270 days, or 1 year

Processing fee

1.25% to 2% of the loan amount, depending on the loan amount and tenure

Purpose

Purchase of gadgets, wedding expenses, planning a holiday, medical emergencies, repairs & renovations of house, etc.

 

CASHe Loan Interest Rate

CASHe Personal Loan interest rates start at 2.75% per month. For 90 and 180 days loan, you will get 7 days interest-free grace period for repaying your dues at the end of each paying month. Delaying the payment of 90 days loan even after the grace period will attract a 0.7% flat interest fee (that includes the 7 days grace period too) on subsequent weeks thereafter.

Eligibility Criteria for CASHe

The following are the eligibility criteria for CASHe Personal Loan:

  • The minimum age of the applicant should be minimum 18 years or above when applying for the loan
  • The maximum age of the applicant should not be above 58 years when the loan matures.
  • The applicant should have an employment and income proof.
  • Applicant's minimum monthly income should be  15,000 or above.
  • Having an address proof and photo ID proof is mandatory.
  • The applicant should have a bank account along with Facebook/ Google+/ LinkedIn account.
  • The applicant should have a smartphone to access the CASHe Instant Loan App.
  • You can avail a loan to value (LTV) of between 30% and 200% of your net monthly salary, depending on your income and loan tenure.
  • As per CASHe's SLQ, your profile rating should be Good

Fees and Other Charges

  • Processing fee:
    • 750 or 1.25% of the loan amount, whichever is higher for 62 day loan.
    • 1,000 or 1.50% of the loan amount, whichever is higher for 90 day loan.
    • 1,200 or 2% of the loan amount, whichever is higher for 180 day loan.
    • 1,200 or 2% of the loan amount, whichever is higher for 270 day loan.
    • 1,200 or 2% of the loan amount, whichever is higher for 1 year loan.
  • Late payment charges: For 90 and 180 days loan, you will get a 7 days interest-free grace period for repaying your dues at the end of each paying month. Delaying the payment of 90 days loan even after the grace period will attract a 0.7% flat interest fee (that includes the 7 days grace period too) on subsequent weeks thereafter.

Documents Required for CASHe Personal Loan

Following are the documents required for CASHE Personal Loan (self-attested documents in jpg format):

  • PAN Card for photo identity proof
  • Aadhaar Card
  • Recent salary slip
  • Proof of permanent address (any one): Voter's ID, Driving Licence, Passport, Utility Bills (electricity/landline/gas bill) not older than 2 months.
  • If the current address is different from the permanent address then, you will need to submit utility bills (not older than 2 months) of the current address, Rent Agreement/ Leave & License Agreement.
  • The latest bank statement showing your salary credit
  • Upload a selfie which will be treated as a proof of your photograph

CASHe Personal Loan EMI Calculation

To calculate your EMI for CASHe Personal Loan, you can use Personal Loan EMI Calculator available on MyMoneyMantra's website. Just enter a few details (loan amount, tenure, and interest rate) to get instant results.

Following is an example of monthly EMI payouts calculated using CASHe Personal Loan EMI Calculator available online for different principal amounts and repayment tenures at interest rate of 2.75% p.m. or 33% p.a.:

Loan Amount

EMIs for Different Tenures & Loan Amount

2 months

3 months

6 months

9 months

1 year

7,000

3,645

2,463

1,281

889

693

1,00,000

52,072

35,183

18,307

12,694

9,897

2,00,000

1,04,144

70,366

36,614

25,388

19,794

 

How to Apply for CASHe?

Follow some simple steps mentioned below to apply for CASHe Personal Loan:

  • You will have to begin by downloading and installing the CASHe app on your smartphone from Google Play Store or Apple App Store.
  • Log in with your Facebook, Google+, or LinkedIn account.

Cashe Login

 

  • Fill the application and upload the required documents.
  • Enter the loan amount.
  • On approval, the amount will directly be credited to your bank account.

CASHe Personal Loan Customer Care

Any queries or grievances can be put across only through an email to support@cashe.co.in or to partner@cashe.co.in. CASHe does not interact with the customers over the telephone.

CASHe Crown Rewards Reward Program

The CASHe Crown Rewards Program will offer special benefits for you as a privileged customer. You can either get the personal loan interest rate lowered or get the loan eligibility amount increased depending upon your repayment history.

There are four categories in the Program and they are:

  • CASHe Silver: On registration as a new customer, you will be given the CASHe Silver category. Based on the repayment history and the compliance of the minimum amount criteria for repayment set for each program, you will be allotted further categories.
  • CASHe Gold: CASHe Gold category will give you concession in rate of interest of 0.10% p.m. for 90 days tenure and 0.30% p.m. for 180 days tenure.
  • CASHe Platinum: CASHe Platinum category will give concession in rate of interest of 0.30% p.m. for 90 days tenure and 0.60% p.m. for 180 days tenure.
  • CASHe Diamond: CASHe Diamond will give you a concession in rate of interest of 0.30% p.m. for 90 days tenure and 0.60% p.m. for 180 days tenure.

FAQs

✅ What is SLQ?

SLQ, i.e., Social Loan Quotient, is a unique credit-rating system for young professionals and millennials. The credit-rating is based on the social behaviour of the customer. It is linked to several data points like the mobile, social media, career, income, and education. Data is collected from these points and the credit-rating is assigned. The more time spent in the digital space, the better will be the score.

✅ How can one know whether they are qualified for the loan with SLQ?

Once the profile is completed and the documents uploaded, SLQ will start the credit-rating ordeal and within no time you will get the rating. If the SLQ profile rating is 'Good', then you can go ahead and apply for the loan with the 'Get Cashe' tab. Your score will be displayed immediately. If the SLQ profile rating is 'Poor', you need not apply for the loan. You can wait till the score improves. The more you use the Cashe app responsibly, the better will be your SLQ score.

✅ Can the CASHe app be accessed without a smartphone?

It is very much necessary to have a smartphone to access the CASHe app.

✅ Why is Facebook/Google/LinkedIn log in necessary to be eligible for the CASHe loan?

The creditworthiness is assessed by your presence on the social networking sites since it gives information about your identity and whether you fit into the ethos of CASHe. The social media accounts are accessed just to give the lender any idea about your activities and identity. Under no circumstances, the data will be shared with any third parties nor the personal data retrieved without your permission.

✅ Should the documents be uploaded every time a loan is availed?

Once you have registered with CASHe and have availed a personal loan, you need not register again. You are free to borrow any number of times. During the first registration, the documents will be uploaded. Thereafter you need not repeat the ordeal for the next 180 days. In the meanwhile, if there is any change in employment or residence, the same should be informed and the necessary documents in respect of the change should be uploaded.

✅ Will an applicant get a loan even if they do not qualify as per CASHe internal credit-rating system?

Yes, the loan may be given on production of post-dated cheques and for select customers only.

✅ If a loan request is rejected, can a request be submitted once again?

A request can be raised once again after three months from the date of the earlier request if you feel that there is an improvement in your creditworthiness. However, decision making is solely at the lender's discretion.

✅ What is the penalty for late payment of EMI?

For 90 and 180 days loan, you will get a 7 days interest-free grace period for repaying your dues at the end of each paying month. Delaying the payment of 90 days loan even after the grace period will attract a 0.7% flat interest fee (that includes the 7 days grace period too) on subsequent weeks thereafter.

✅ Does the lender recall the loan at any point of time?

The rights to recall the loan with a prior notice rests with the lender. If the information provided by you turns out to be incorrect, the lender can demand for the repayment of the loan within 24 hours. In such circumstances, you will be viewed as a defaulter and will be liable for the applicable penalty and appropriate action by the competent authority.

✅ What is the mode of repayment for CASHe Personal Loan?

Payment for CASHe Personal Loan online can be made only through NEFT. CASHe CLN# will be the Account Number and the Beneficiary will be Bhanix Finance and Investment Ltd. The IFSC code will be KKBK0000958. Verify and enter the correct details before transferring the funds.

✅ What is the procedure to make repayments through UPI?

To make repayments through UPI, follow the steps given below:

  • Register your UPI ID with CASHe
  • Choose the 'My CASHe' screen on the app
  • Click on the Current due tab and the amount due will be indicated
  • Choose on the "Repay with UPI". Here the amount to be transferred and the UPI ID for which the amount has to be transferred will be indicated.
  • Choose the option 'Repay'

The processing of the transaction may take 60 minutes. If the transaction does not complete within 60 minutes, then the whole process has to be repeated.

✅ Are there any benefits for referrals?

Yes, any number of referrals can be made, provided the referrals made are all salaried persons. Every successful referral will fetch you  500 and the person referred will get a discount of 50% on the processing fee for the loan applied from CASHe.

✅ What is the procedure to transfer money from CASHe into Paytm account?

The PayTM Account should be integrated with CASHe app to make the transfer. You can transfer a part of the amount as intended by you with a maximum of  19,500 into your PayTM account directly from CASHe and the balance can be transferred to your bank account. There is a cap on monthly wallet funding for PayTM, which is  19,500 and so you can transfer only to the extent of  19,500 to PayTM from CASHe.

✅ Can the amount be transferred even if there is no PayTM account?

Yes, the money can be transferred to any valid phone number or email ID. An SMS will be sent to the beneficiary asking him/her to register for PayTM and claim the amount. If the registration is not done and the amount not claimed within 7 days, the amount will be transferred to the borrower's bank account that is registered on CASHe on the 9th day.

✅ What happens if the money transfer to PayTM fails?

If the money transfer to PayTM fails, the amount will be recredited to the bank account registered on CASHe.

✅ What is CASHe Buddy Transfer and how it works?

CASHe Buddy Transfer is a feature wherein money can be transferred from CASHe app to the friends and family members who are listed in the phone contact.

You have to access the Get CASHe screen on the CASHe app and request for a loan. Under the option for transfer of funds, you can either choose a transfer to Paytm or Transfer to Friend. You can choose the Transfer to Friend option and 5 people from your phone contact list. You will have to next specify the amount to be transferred to each of them and confirm. The amount will then be transferred to the selected beneficiaries.

✅ Can I extend my loan tenure after taking a CASHe personal loan?

Yes, you can shift your CASHe personal loan tenure from 62 days to 90/180/270 days or 1 year as soon as you clear all outstanding of your previous loan(s). Make sure you make timely repayments of your existing loans (if any) to have a positive SLQ scores with CASHe.

✅ How can I contact CASHe?

CASHe does not interact with its customers on phone. However, you can email them at support@cashe.co.in for any queries regarding their loan products. They will respond as quickly as possible. If you wish to know about enterprise package, you can send email to partner@cashe.co.in.

✅ What documents do I need for CASHe personal loan?

You just need to upload the following basic documents (self-attested documents in jpg format) to get credit approved with CASHe:

  • PAN card as photo identity proof
  • Latest salary slip
  • Aadhaar Card
  • Permanent address proof (any one):
  • Passport
  • Driving License
  • Voter Identity Card
  • Utility Bills (Electric/Landline Phone Bill/Gas Bill) - not older than 2 months.
  • If your current address is different from permanent address, then you will need Utility Bill of current address (not older than 2 months),
  • Leave & License Agreement/Rent Agreement
  • Latest statement of bank account where your salary is credited
  • You will also be required to upload your selfie as photograph proof.

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