There are a lot of times in life when you need some money for emergency. Maybe your salary is due in 5 days but you need to buy that special gift for your special one whose birthday is tomorrow. Or you want to surprise your family with a dinner outside. God forbid there could be an Accident or Illness and you need to rush to the hospital. Not all of us have Credit Cards and it’s not a good habit to maintain one too as if you default on your payment, the interest is quite high and you could also be blacklisted from taking future loans. You could ask your colleagues or friends but being the month end, even they could be facing the same problem. After all, how many actually have money left after say 5th of each month after all the EMIs are cut?! Also it’s an embarrassing situation as your friend could say No and they could also get a bad impression of you. So whom do you turn to in this case of emergency?
Fret not, as CASHe App is here! CASHe is a platform for consumers to take control of their short term finances. With this new smart phone platform, you would be provided immediate cash loans based on your social profile, merit and earning potential using proprietary algorithms and machine learning. All loans through CASHe will be disbursed by One Capitall Ltd. An RBI- registered NBFC.
Don’t confuse CASHe App with any of the present wallets. In wallets, you need to put money to use it at a later time online or offline. CASHe is the cash in the wallet as it provides a short term loan to take care of your urgent finanical needs. Interest is just around 1.5% for a short term like 15 days. For example if you take Rs.10,000 as loan, then after 15 days, you have return Rs.10,000 plus just Rs.150 as interest! Ain’t that cool??!!
Process to register is quite easy too. Just download the CASHe App for Android. You can login with Facebook or LinkedIn. Take a full face Selfie and add your mobile number if not added already from your social profiles. Update your PAN number and upload a copy of the same. Later you can add your address with pincode and also attach your address proof like Aadhar Card, Passport or Voter’s ID among others.
The only documents required which you need to upload onto the app itself are Self Signed PAN Copy, Address Proof, Latest Salary Slip and Bank Statement. There is no human intervention so you don’t need to take time out from your busy schedule to meet any executives for any kind of paperwork. Once your loan is approved, it is automatically credited to your bank account.
The launch of CASHe App in Mumbai was quite innovative as it started with a skit depicting the life of a young executive and the problems he faces at the end of the month when he requires money for sudden emergencies like car repair, urgent payment or even girlfriend’s birthday! The brand was launched by current Bollywood heartthrob Arjun Kapoor who said he loved the concept as it gives the freedom to the hands of the consumers to plan their finances better.
Along with Arjun Kapoor, those who were present at launch of CASHe App were their eminent Board of Advisors comprising Dr. Rakesh Mohan, Former Deputy Governor of RBI and Director IMF, Mr. Suhel Seth, well known marketing guru and media personality and Mr. Yezdi Lashkari, tech thought leader. Mr. V. Raman Kumar, Chairman of TSLC PTE LTD presided over the meeting.
CASHe uses sophisticated proprietary technology that mines the borrowers’ social network and requests basic documentation to arrive at a “Social Loan Quotient” (SLQ) and a loan eligibility amount. Using multiple unique data points to arrive at a distinct credit profile for the customer, CASHe will transform traditional credit measurements, providing financial inclusion to under-served young professionals who are kept out by traditional credit rating and banking systems. I think this surely is the step in the right direction for Financial Organizations if they want to succeed in this new digital age.