Zee Media Bureau
New Delhi: That one should live within means, is no brainer, But, sometimes, one has to dig deep into pockets to meet certain emergencies. What do you do in such a situation?
Borrow from a a friend? Not any more. An application on Android phones CashE, offers instant loans, that too at just 1.5 percent.
Here are a few important facts you need to know about CashE:
1.CashE is a limited-time credit service available only to salaried Indians, and not to self-employed people or small business owners.
2. It allows you to borrow money up to 40% of you salary for a maximum period of 15 days.
3. The interest charged on the amount borrowed is just 1.5%.
4. Once a user is approved, he can borrow money for any number of times upon payment of dues.
5. One can sign up for the service using either your Facebook or LinkedIn ID.
6. The process of getting loan will require you to share your email, contact number and upload a scanned copy of PAN card.
7. You are also required to submit an address proof and upload a copy of your latest payslip and bank statements.
8. All first-time users are required to pay one time processing fee of Rs 450 or 700 or 1,250, depending upon the loan eligibility.