CASHe is an online personal loan provider that enables young professionals to avail instant loans within a few minutes without any paperwork and hassle. With CASHe Loan, you can avail loan amount of minimum Rs. 7,000 up to Rs. 4 Lakhs. Repayment of the borrowed loan amount can be made in flexible tenure of 62 days, 90 days, 180 days, 270 days, 1 year and 1.5 year based on your requirement. All you need to do for the loan application is upload your recent salary slip, bank statement, PAN card, and residence proof clicked on a self-signed white paper through the CASHe app. The money will be transferred to your bank account within minutes.
If you are planning to apply for a CASHe personal loan, you must keep a few things in mind about the eligibility criteria. The online loan app has set certain parameters which you have to satisfy to be eligible. CASHe conducts a thorough background check of the borrower before approving their loan application.
How does CASHe assess the borrower’s personal loan eligibility?
- Employment Status: Every loan providing app prefers giving loans to those individuals who have a stable source of monthly income. For this reason, most online loan apps ask for income proof in the form of salary slips and salary bank account statements. It is not that easy in the case of banks as many banks require borrowers to be employed for at least 1-2 years and most loan providing apps require income proof of the last 6 months. For CASHe loans, you can apply with only 1 month’s salary slip.
- Credit History: For most lenders, credit history and credit score is the most crucial factor while evaluating your loan application. They go through your credit history before sanctioning or rejecting your loan. Your credit score depends on how much credit you took in the past and how did you repay it. People with a bad credit score find it difficult to get loan approval. If you, too, have a low score, you can avail of the services of loan giving app that does not consider your CIBIL score for approval. Online loan app CASHe analyses your social behaviour and digital footprint for evaluating your Social Loan Quotient (SLQ). SLQ is the parameter that CASHe considers to approve a loan application.
- Age: The age of the applicant is one of the most crucial factors for almost every lender, including online loan providing apps. Most lenders prefer their applicants to be in the age group of 23 to 58 years. If you are younger and do not have any credit history, you can still instantly apply for an easy loan online with CASHe. This wonderful app lets you take a loan if you are above 18 years of age.
- Employer’s Status: Banks usually check your employment status and how well established your employer is. For people who work for top rated companies, it is often easier to get a loan and also, the rates of interest offered to them are usually lower compared to other applicants. If you are working with an uncategorized or unlisted employer, you can still get a personal loan with the CASHe personal loan app.
- Monthly Income: Monthly income is an eligibility factor that no lender can negotiate upon. Your loan eligibility as well as loan amount depend largely on the monthly disposable salary you draw. Many traditional banks require you to earn at least Rs. 25,000 per month to get a loan, but CASHe online loan app offers you a personal loan if your salary is Rs. 15,000 or above.
These are the five most important factors which CASHe analyses to determine your loan eligibility.
Now when you are aware of the eligibility parameters of CASHe loan, here’s how you can avail of a loan through this easy to use app.
How does CASHe work?
- Download the CASHe app on your iOS & Android smartphone.
- Register on the app using your Facebook, LinkedIn or Google+ account.
- Fill the application form and upload the basic required documents, i.e. PAN Card, Aadhar Card, Latest Salary Slip, Permanent Address Proof, and Latest bank statement of the account where your salary is credited.
- Enter the loan amount ranging from Rs. 9,000 to Rs. 3 Lakhs based on your approved eligibility.
- Get CASHe cash transferred into your bank account within minutes.
- Repay your loan easily via bank transfer and raise your Social Loan Quotient.
Documents required to apply for CASHe loan
- PAN card as photo identity proof
- Aadhar Card for KYC
- Latest salary slip
- Latest bank statement of the account where your salary is credited
- Permanent address proof (any one):
- Driving License
- Voter’s Identity Card
- Utility Bills (Electric/Landline/Gas Bill) of not more than 2 months old.
- If your current address is different from your permanent address, then also provide a Utility Bill of the current address (not older than 2 months) and Leave & License Agreement/Rent Agreement.