|Loan amount||Rs 1,500 - Rs 60,000|
|Loan tenure||3 - 6 months|
|Interest rate||25.55% p.a. onwards|
|Processing fee||Rs. 90 to Rs 2,000 + GST|
|Age||18 - 56 years|
|Credit history||Not required|
|Lowest EMI (for Rs. 60,000 loan)||Rs. 10,758|
Note: Check the lists of best personal Loan Apps available in India.
Availing a loan from CashBean has various advantages, as mentioned below:
Other instant loan apps
It is easy to calculate CashBean personal loan EMI. You can use the online Personal Loan EMI Calculator available on our website for free. All you have to do is enter the three basic details, like the loan amount required, applicable rate of interest, and repayment tenure chosen by you. Hit the enter button and the EMI will be calculated instantly.
Along with the EMI, the tool also provides an amortization schedule for repayment.
Here’s an illustration using the MyMoneyMantra Personal Loan EMI Calculator:
Required loan amount: Rs. 60,000
Applicable rate of interest: 25.55% p.a.
Tenure of repayment: 6 months
EMI to be paid each month till the tenure ends: Rs. 10,758
Total interest to be paid: Rs. 4,550
Total amount to be paid to the lender: Rs. 64,550
Amortization schedule of the above illustration
|Year||Opening balance||Amount paid by customer (EMI*12)||Interest paid during the year||Principal paid during the year||Closing balance|
|1||Rs. 60,000||Rs. 32,275||Rs. 3,223||Rs. 29,052||Rs. 30,948|
|2||Rs. 30,948||Rs. 32,275||Rs. 1,327||Rs. 30,948||Rs. 0|
Additional Info: everything you wish to know about Navi Mutual Fund in detail.
|Name of Lender||Rate of Interest (per annum)||Processing Fee||Maximum Loan Limit|
|CashBean||25.55% - 26%||Rs. 90 to Rs 2,000 + GST||Rs. 60,000|
|Credy||12% - 18%||3% + GST||Rs. 1 Lakh|
|AnyTimeLoan||18.25% - 54.75%||Up to 2%||Rs. 10 Lakhs|
|EarlySalary||24% - 30%||Rs. 199 onwards||Rs. 5 Lakhs|
|CASHe||27% - 33%||Up to 3%||Rs. 4 Lakhs|
|PaySense||16% - 36%||Up to 2.5% + GST||Rs. 5 Lakhs|
Additional Info: Check Best Loan Apps for Students in India.
To avail of a Personal Loan from CashBean, submit minimal documents as mentioned below:
The following are the CashBean personal loan eligibility criteria:
Additional Reading: Check Cibil Score for Personal Loan
You can download the CashBean Mobile app from Google Play Store. You will have to register to create an account and check the eligibility to apply for the loan. You will be required to provide some basic details as given below:
Additional Info: Are you looking for Instant SBI Loan
You can reach personal loan customer care team through any of the following ways:
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The factors considered to assess Cashbean Loan eligibility are monthly income, repayment capacity, and credit score of the applicant. If you intend to increase the credit limit, you will have to avail loans frequently through Cashbean and make prompt repayments every time. You will be eligible for a higher credit limit provided the other factors like monthly income, repayment capacity, and credit score are satisfactory and support the company's credit policy.
Availing a loan from Cashbean has various advantages, as mentioned below:
The pending disbursements may be due to some technical issues faced by the bank. The disbursement may be delayed by a day in some cases. If the disbursement does not happen as scheduled, wait for 1 day. If the matter is still not resolved, write to the Cashbean support group at: firstname.lastname@example.org.
There is only one type of interest, i.e., fixed-rate, and the interest is calculated on reducing balance at annual rates. Cashbean considers 360 days a year for interest calculation.
To affix an e-sign on the loan document, you will have to select the 'e-sign with Aadhar' option. You will receive an OTP on your registered mobile number and also on the registered Email ID. When you click on the option 'digital sign with Email and OTP', you will gain access to the loan agreement page, and an OTP will be generated and sent to your registered mobile number. You will give your consent to the loan agreement by entering the OTP received on your mobile number.
If you miss out on the EMI due date, you will be liable for a penalty at 2% of the overdue amount for this period. You will not qualify higher amounts of instant Personal Loan from Cashbean. Since your profile will be updated as a defaulter by the Credit Information Bureau, you will not be eligible for a loan from banks and other financial institutions in the future.
Customers with satisfactory dealings with Cashbean will qualify for a Privilege Membership with Cashbean. This Privilege Membership is Super Bean. To become a member of Super Bean, you will have to follow simple steps as given below:
The membership fee will be based on the type of membership chosen. The membership starts at Rs. 100.
The following are the benefits of Super Bean:
A unique referral code will be allotted on opening an account with Cashbean. You can see the referral code in the 'Invite and get Gifts' option under 'My Account' in the Cashbean App. Any referral you make should compulsorily mention your referral code in their loan application for you to get the referral rewards.
You will qualify for the Referral Rewards only if the following criteria are met with.
If the repayment has been made to a wrong account, you raise a complaint on Email to email@example.com. You will have to provide the details of your loan account and the registered mobile number and the transaction details of the repayment made. If the payment is made to an account that does not pertain to Cashbean, then Cashbean is not liable, and you will have to make the repayment once again.
To apply for a Personal Loan through Cashbean, you need to create a Cashbean account by downloading the Cashbean Mobile App from Google Play Store. You should then check the eligibility by providing some personal details like Name and address, Mobile Number, Email ID, City or Location, and other details listed in the loan application. The bank account details also have to be provided. The disbursement will be made only after you agree to the terms and conditions and e-sign the loan document on approval of the loan application.