CASHe

CASHe: Instant Personal Loans in Minutes!

CASHe is an online instant loan providing platform with an intention of breaking down traditional barriers of lending and borrowing in India. It was founded in 2016 and since then it has been quite popular especially amongst millennials who want fast services and do not have much time to go through a tedious process of documentation and paperwork at a bank. The app can be downloaded for free from Google PlayStore.The reachability of the app is quite good considering the number of times it has been downloaded, which is more than 1 million, and has garnered more than 103,000 reviews in such a less time of its existence.

CASHe offers a simple process of registering, application, documentation, and finally dissemination of instant personal loans. These loans are needed to cater to varied needs ranging from medical loans, mobile phones, holiday, rental deposit, to car and bike loans. There are loans for all of one’s personal needs. Hence people nowadays avail of those services which are fast, easy and free from hassles. The entire process has thus been customized to fulfill the aspirations of the generation. A loan for the renovation of the house is also included in the reasons for the loan amount disbursement.

Moreover, the exceptionality of the app is that it tends to bridge the gap between people who have no credit history or have a low credit score and them availing the loan. The concept of ‘alternative lending’ is applied here at the CASHe app to provide loans to the maximum number of people. Usually, in more traditional systems, loan providers decide on loan amount by considering the credit history or the credit score of a person. But at CASHe, the AI-based app scans the social media presence and history to arrive at a conclusion on the amount of loan that a person is eligible for. Hence this system attracts a lot of young people in its purview.

Features

1.The eligibility criteria for applying for the CASHe loan is that the person has to be between the age of 23yrs and  58yrs. The person also needs to be a citizen of India and has to be a salaried employee with a minimum of Rs 15000 monthly income. The person also needs to have a social network presence on Facebook, Linked In, etc.

2.The documents that are required to apply for the loan at CASHe are PAN Card, address proof, latest salary slip showing the salary credit, Aadhar Card. A selfie also needs to be clicked for the verification process. The verification requires little time and the entire process happens online.

3.The loan once approved can be utilized instantaneously by the borrower. The loan amount usually ranges from a minimum of Rs 9000 to a maximum loan amount of Rs 3 Lac. The repayment needs to be done from 2 months to 12 months depending on the loan amount.

4.There is a feature called ‘buddy transfer’ through which a person who has got an instant loan can easily transfer an amount of it to friends or relatives. Anyone who has borrowed money from CASHe can transfer a maximum amount of Rs 10,000 to a friend or relative.

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