Cashin is a mobile-based, cutting-edge Fintech platform, developed and designed to make short term borrowing a matter of few clicks. It caters to youth?s personal financing needs and makes borrowing easier and faster. The parent company is Rhino Finance Private Limited, which is a Non-Banking Finance Company (NBFC), duly registered with Reserve Bank of India (RBI).
The Fintech Company was established in the year 2016 to cater to the financial necessities of the emerging market by providing quick finance with a digitized loan process.
An instant online loan is a loan that can be borrowed swiftly online. Herein, the entire application process is digitized, i.e., from the stage of filling up an application to collecting the required documents, drawing a credit profile, conveying the credit decision, and disbursement of the loan amount, everything is processed online.
Cashin provides one such internet platform to avail Instant Personal Loans to the extent of Rs 20000/-. It is a short term Personal Loan provided for a minimum period of 91 days and a maximum period of 365 days with an interest rate of 3% per month.
Availing a Personal Loan from Cashin has its benefits:
Competitive rate of interest: At Cashin, you can avail of a Personal Loan up to Rs 20000/- at an interest of 3% p.m. In other words, a 20000 loan will cost you around 20/- per day. You can repay the loan amount as and when you have funds to reduce the cost of the loan.
Quick and affordable loan: With a competitive rate of interest, the loan is affordable. The entire loan process is digitized and does not involve extensive paperwork. Even the documents required are minimal. All you need is KYC documents. Even the execution of the loan documents is completed online. This reduces the turnaround time of the loan, and you will have access to the much-needed funds within minutes.
Credit Score: Though credit score is one of the criteria to draw the credit profile of the customer, assessment is not restricted to the bureau's score. A proprietary tool is available that assesses with various data points apart from the credit score. So, applicants with low credit scores or no credit scores also are eligible to apply for the Cashin loan.
Minimum documentation: The documents required for processing the loan are minimal. You need to upload only one of the KYC documents out of the various acceptable options. Providing a Pan Card is a must since the credit score, and the details regarding the financial status can be verified with the card.
No hidden charges: No charges are collected apart from the ones displayed on the App. Cashin is very transparent in terms of the charges collected. There are no hidden charges.
Convenient tenure: The tenure for the Personal Loan ranges from 91 days to 365 days, and you can opt for the tenure as per your convenience and repayment capacity.
Cashin provides instant Personal Loans that are multipurpose loans, and the salient features of the loan are as given below:
Purpose: The loan can be utilized for small size requirements like payment of utility bills, school fees, shopping, planning a budget holiday, purchasing a gift, pursuing a hobby, enrolling for short term skill development courses, etc.
Quantum: You can avail of a loan up to 20000/- from Cashin
Interest: The rate of interest on the Personal Loan availed from Cashin is 36% per annum.
Security: Cashin provides unsecured Personal Loans. No collateral or security will be required to avail of the loan.
Repayment: The repayment ranges from 91 days to 365 days. The tenure can be opted as per your convenience and your affordability.
The flexible repayment period for up to 365 days will enable you to pay back conveniently as the EMI will be much affordable. This will help to create a credit history of a responsible borrower that will work to your advantage in the future when you might have to avail of big-ticket loans like home loans, car loans, etc.
Processing charges: Nil
Foreclosure charges: Nil
To apply for a loan at Cashin, download the Cashin Mobile App through Google Play Store.
Now register for an account by providing basic details, such as:
After providing the personal details, submit the application form. You will have to upload the documents required. You will then receive a call from the representative of Cashin for verification. You can view the final application on the Cashin App, and the approval will be conveyed through an SMS to your registered mobile number.
You should then affix e-signature on the loan agreement. Thereafter the loan will be credited directly into your bank account within 10 minutes, and you will get a notification through SMS.
The documents required to avail a Personal Loan from Cashin are:
KYC documents like Aadhar Card, Pan Card, or Voter's ID Card.
You are required to upload any one of these documents. The Pan Card is mandatory as it is required to verify the credit score and other details in respect of your financial status.
Eligibility for Cashin Loans
The applicant has to comply with the following eligibility criteria to qualify for a Cashin Personal Loan:
Cashin enables repayment of the loan by executing a NACH or ECS mandate for auto-debit to your bank account. You will have to provide the details of the bank account, the loan account, the EMI amount, and the due date of the EMI payment in the mandate. Your responsibility lies in maintaining sufficient balance in the bank account on the due date for honouring the auto-debit instructions so that there are no.
Now get IDFC First Bank personal loan of Rs. 20000 to Rs. 1 Crore at lowest interest rate starting from just 10.49% per annum and the processing fee is 1.5%-2% of the sanctioned limit + GST.
Cashin provides an instant Personal Loan that can be utilized for any purpose, ranging from payment of utility bills, to providing vehicle servicing expenses, to enrolling for any skill development courses, for shopping, to pay school fees, etc. There is no capping on purpose by the lender.
Cashin provides a personal loan up to Rs 20000/-
The Cashin Personal Loan should be repaid within 91 days to 365 days.
The personal information, the employment information, and the financial information provided by the customer along with the credit score and other data points accessed through social media are the factors that are considered for drawing the credit profile of the customer for Cashin lending.
To qualify for a loan at Cashin, you need to comply with the following criteria-
To avail of a Personal Loan from Cashin, you will have to submit minimum documents. The documents required are KYC documents like Aadhar Card, Voter's ID Card, and Pan Card. The Aadhar Card and the Voter's ID card are required to establish the proof of residence and the photo identity of the applicant. Pan Card is required to verify the credit score and other details in respect of the financial status.
The following are the advantages of availing a loan from Cashin.
You can make the repayment of the Personal Loan availed from Cashin by giving auto-debit instructions. You should raise a request for auto-debit of the EMI on the due date to your bank account by executing NACH, an online mandate or ECS, a manual mandate wherein you provide the details of your bank account, the loan account, the EMI amount and the due date of auto-debit to the account.
Yes. If the EMI is not serviced on the due date, you will be liable for a penalty as stipulated by the lender over and above the regular interest charged on the balance amount for the overdue period. If the delay in servicing the EMI becomes a regular feature, it will be viewed seriously and may even involve legal action. Such defaults will impact your credit score as well. The Credit Bureau will update your credit profile as a defaulter which will make it difficult for you to procure loans from any financial institutions in the future.
You are required to provide the following information while applying for a loan from Cashin.
Personal Information: Name, Date of Birth, Gender, Marital Status, etc
KYC Information: Current Residence Address, Permanent Address
Work Information: Employer's Name, Work Experience, Monthly Income
Contact Information: Mobile Number, Email ID