CASHe Smartphone App will Approve Loan in 8 Minutes
CASHe App provides a platform especially for the young and working professionally in an age group of 20 to 35 years for a maximum of 30 days and up to Rs.50,000.
Mr. V. Raman Kumar, the Chairman of TSLC PTE LTD., has informed that there is no human intervention in the loan granting process. The time taken to approve a loan is also something shocking to know. Almost 8 minutes is made by the automated system to grant or reject a loan with subject to the information provided.
He also stated that minimum documentation, required for the purpose of loan requisition. There are no physical papers or signatures required by the applicant. He also announced the rate of interest that are applicable for the loan granted.
Though, there are variations in the rate of interest based on the period of the loan. There will be a one-time loan processing fee also. The rates differ from 1.5% to 3.5%. An additional 2% interest will also be charged for an extension of 7 days after the period.
Based on the salary of the employee, up to 40% of his income will be granted as a loan. The rate of interest is also similar to that of the credit cards.
The documents are needed for uploading through the link that is meant for the app. Details like PAN, Latest month Salary Slip, Address Proof and Latest Bank Statement along with a Selfie are the minimum documents that are required for the applying the loan.
CASHe app is advertised on all the social media platforms. The link for downloading the app is available on the Internet.
One of the biggest advantage with this app is that the loan is granted for the eligible without any sureties or guarantors.