cashe personal loan

 CASHe is powered by Bhanix Finance and Investment Ltd., an RBI registered NBFC, and is not a bank or an NBFC.

 No, CASHe is a mobile app, and applicants are required to have a smartphone to avail of the loan.

 CASHe aims to revolutionize the process of borrowing by using an applicant's social networking activities as a reliable benchmark to assess creditworthiness.

 CASHe accesses an applicant's social media accounts to assist the lender in getting a picture of who they are using industry-standard access levels in terms of their network, contacts, and activity.

Aeries Financial Technologies Pvt. Ltd. offers CASHe, a fintech product that provides short-term personal loans to young salaried professionals through a simple app. The loans are powered by a proprietary predictive algorithm called The Social Loan Quotient (SLQ) which creates a sophisticated credit profile of consumers based on their social behavior data. Young professionals can apply for loans within minutes without any paperwork and receive money in their bank accounts within minutes.

 SLQ is India’s first social behavior-based credit rating system for salaried professionals and young salaried millennials. It is a dynamic score that is linked to a number of data points including mobile and social media footprint, education, monthly salary, and career experience. Unlike traditional credit scoring systems that rely on past financial transactions, SLQ is based on a customer's social behavior data and calculates credit risk dynamically. As customers interact with CASHe more and spend time in the digital space, their SLQ score evolves too.

 To know if you are eligible for a loan with CASHe, you need to complete your profile and submit the necessary documents on the appIy a matter of minutes, the credit profile status will be communicated to you by the AI-based SLQ engine. If your profile rating is 'Good', you can apply for a loan using the 'Get CASHe' tab and receive your SLQ Score. However, if your profile rating is 'Poor', you will not be able to apply for a loan and may try again later when your credit profile improves. The more you use CASHe responsibly, the better your SLQ score improves.

 CASHe offers loans ranging from Rs 10,000 to Rs 400,000 payable over a period of up to 4 months.

 An individual can borrow personal loans starting from Rs 10,000 to a maximum of Rs 400,000 with a repayment period of upto 4 months.

 Yes, an individual can shift their loan tenure from a 120-day plan to a 180/270/1 year/1.5 year plan as soon as they have cleared all outstanding balances on their previous loan.

 No, CASHe does not interact with customers over the phone. Applicants can email [email protected] for any queries related to loan products, and [email protected] for enterprise package inquiries.

 Applicants need to provide several documents such as a photo identity proof (PAN card), the latest salary slip, Aadhar card, and permanent address proof such as a passport, driving license, voter's identity card or utility bills (electric, landline phone or gas bill, not more than 2 months old). The latest statement of the borrower's bank account showing salary credit is also required. In addition, the borrower needs to upload a selfie as proof of their photograph.

 The purpose of collecting documentation is to determine the creditworthiness of the borrower and to ascertain whether they are a responsible borrower. The information is used internally and is kept secure.

 CASHe does not require any collateral or security. The borrower's eligibility will be determined based on their documents and creditworthiness.

To apply for a CASHe Personal loan, the applicant must meet certain eligibility criteria. The loan amount that one can avail depends on the duration of the loan and the applicant's net take-home salary. For instance, for a 90-day loan, one can avail of a loan amount up to 110% of their net take-home salary. Similarly, for a 180-day loan, the loan amount can be up to 210% of the net take-home salary, and so on.

An applicant's loan application can be rejected for several reasons, including providing false information or not submitting the required documents. Lack of employment or means to repay the loan, not meeting the eligibility criteria, or inability to verify the information provided by the applicant can also result in the rejection of the application. However, this does not reflect the applicant's credibility but rather the fact that their profile does not match the algorithm used by the CASHe app.

No, an applicant will not be eligible for a CASHe Personal loan if they do not meet the internal credit rating criteria.

Yes, an applicant can reapply for a CASHe Personal loan after a waiting period of three months from the rejection of their previous application. If there have been material improvements in their creditworthiness or if they feel that their application should be reviewed, they can try again. However, the final approval of the loan application remains at the discretion of the lender

Yes, CASHe charges processing fees for loans, which vary based on the loan amount and duration. For a 90-day loan, fees range from a flat rate of Rs.85 for loans between 0 to 5999, to a flat rate of Rs.500 for loans between 6000 to 33333, to 1.50% of the loan amount for loans between 33334 to 99999. For 180-day and 270-day loans, a flat rate of Rs.1200 or 2% of the loan amount (whichever is higher) is charged. For 1-year and 1.5-year loans, a flat rate of Rs.1200 or 2% of the principle amount (whichever is higher) and a flat rate of Rs.1000 or 3% of the principle amount (whichever is higher), respectively, are charged as processing fees.

Yes, all loans from CASHe come with a processing fee, but the fee is minimal.

Interest rates for CASHe loans vary based on the loan duration. For a 90-day loan, the fixed interest rate is 2.50% per month (equivalent reducing balance interest rate of 3.71% per EMI), and there is a 5-day interest-free grace period at the end of each paying month. If payment is delayed after this grace period, a flat interest fee of 0.1% per day (including the 5-day grace period) will be charged for subsequent days. For 180-day loans, the fixed interest rate is 2.40% per month (equivalent reducing balance interest rate of 3.98% per EMI), and there is also a 5-day interest-free grace period at the end of each paying month. For 270-day, 1-year, and 1.5-year loans, the interest rates are 2.25% per month (equivalent reducing balance interest rates of 3.86% per EMI, 3.88% per EMI, and 3.85% per EMI, respectively) based on the loan amount.

 Yes, a borrower can repay a CASHe personal loan before the due date, and it is actually recommended as it increases their SLQ score. However, please note that interest payments are deducted at the time of disbursement and will not be reduced or reimbursed if paid early.

 Borrowers can make payments through NEFT/IMPS/UPI, but cash or cheques are not accepted. The borrower should enter their CASHe CLN# as the account number in the specified field and select "Bhanix Finance and Investment Ltd" as the account name while making repayments. The IFSC code should be KKBK0000958. If a borrower needs help, they can write to [email protected].

 CASHe is powered by Bhanix Finance and Investment Ltd, a registered NBFC regulated by the Reserve Bank of India. They determine the borrower's eligibility for the loan, disburse the funds, and collect repayments.

 The process is simple. First, a borrower should register their UPI ID with CASHe. To make a loan repayment, they should go to the 'My CASHe' screen in the app and click on the 'Current Due' tab to see the amount owed to CASHe. Then, click on the tab and choose 'Repay with UPI.' The next screen will display the amount and UPI ID to transfer the funds to. Click on 'Repay' to complete the transaction. The borrower has 60 minutes to complete the transaction, which will be indicated in the app.

 If a borrower cannot repay the full loan amount and interest within the given time frame, they will be called a defaulter. This means they will not be able to take out another loan from CASHe.

 Being a defaulter means a borrower was not able to repay the money borrowed from CASHe on time. This is not a good thing because CASHe trusted the borrower to pay them back. If they cannot repay, their name may be put on the CASHe app, website, and social network as someone who did not pay back the money they borrowed. CASHe might also have to take steps to recover the funds from the borrower, and they might even tell other places that give out loans that the borrower did not pay back a loan.

 No, if a borrower did not pay back a loan they received from CASHe before, they will not be able to get another loan from them. It's important to make sure they can pay back the money borrowed on time to avoid becoming a defaulter.

 The loan is typically transferred instantly after approval of the documents. It is advisable to ensure that the documents are clear and legible and in the correct formats to expedite the loan processing.

 Although the credit appraisal process is usually quick, if additional information is required to approve the loan, the borrower will be informed about their eligibility immediately. However, CASHe will keep the borrower updated on the status of the loan.

 No, once the final approval has been given, the borrower cannot make changes to the loan amount. It is recommended to request the correct loan amount during the application process.

 If the borrower fails to disclose materially valuable information to determine their credit profile or provides false or misleading information, CASHe has the right to recall the disbursed cash. The borrower will be given 24 hours to repay the loan, after which they will be categorized as a defaulter and appropriate actions may be taken by the authorities.