People who are in a financial emergency most of the times depends on hand loans from friends or other loan lending organizations. First time in India an innovative app called CASHe launched to offer instant cash loans starting from Rs. 5000 to Rs. 50,000 depending on the eligibility.
Personal loans from the banks and other financial institutions have a very hard set of requirements to be approved. But CASHe targeted those low-income groups who doesn’t have I.T. returns and other documents required by the banks. The company is focusing more on the 20 to 35 years age groups who are now settling down in their careers and suffering from frequent financial problems.
The person who is using the app can borrow cash from the app anytime, anywhere. The app follows a proprietary technology which analyses the users mobile, and social network sites vital information and asks the user to produce primary documentation to avail the loan.
How much amount you are eligible to get the loan entirely depends on the Social Loan Quotient (SLQ), the parameter the company follows by analyzing the above mentioned data from various sources.
The Android client app lends up to 40% of the monthly income you are getting right now. Once you borrowed the loan you must repay it within 15-30 days period.
The application available on Google Play Store to download