Cash Tech

Avail any amount from Rs. 10,000/- to Rs. 1,00,000/- depending on your credit profile. Get credit with APR ranging from 14% - 28% per annum for a tenure of 3 months to 24 months.

Representative Example:
For a loan with principal amount of ₹1,0000 payable in 91 days, with interest rate @33% per annum, a user would pay:
Interest = ₹810
Processing fee = ₹2360 (including 18% GST of processing fee, which is ₹360)
EMI = ₹4,390
The total amount due would be ₹1,3170.

Introduction


Cash Tech is India’s fastest credit app where one can avail purchase financing and revolving line of credit with zero collateral. The purchase financing can be availed for mobile phone, laptop, camera, & many more electronic gadgets. Further, 2 years revolving line of credit can availed, akin to credit card. With Cash Tech, bid adieu to your financial worries!


Loan Types


1. Online Purchase Loan - Cash Tech is a one-stop destination to get your desired products like smartphones, laptops, cameras, and any latest electronics on EMI and repay within 3 months to 24 months tenure. This loan can be used to make purchases at Flipkart, Makemytrip, etc.The APR is between 14% and 24%.

2. Personal Loan - Cash Tech also offers Personal loans for salaried & self - employed
professionals for their various needs. The amount ranges from Rs. 3,000 to Rs.
1,00,000/- with a tenure ranging from 3 months to 15 months, depending on the
person’s eligibility.The APR is between 16% to 26%.

3. Revolving line of credit - Cash Tech also offers credit limit for 2 years (24 months). This is a revolving credit facility, where the customer can avail the limit seamlessly for next 2 years, till the customer is paying on-time. To incentivize better credit behavior, the customer is offered waivers and reduction in instalment amount for timely payments.The customer can avail upto a credit limit of Rs. 30,000. The APR is between 20% and 28%.


Amount, Tenure, Fees &Charge


Loans range from ₹10,000 to ₹1,00,000 with tenure ranging from 3 months to 24 months. The APR ranges from 16 to 28% depending on the product availed, risk profile, and creditworthiness of the customer. Penalty charges are charged only when a customer defaults or delays their loan repayment schedule in spite of reminders. In addition to it, GST applies as per Indian laws.


APR Examples


1. A new salaried customer (low risk) can avail a loan of ₹30,000 at an interest rate of 18% with a processing fee of ₹750 for a tenure of 12 months. The APR is 22.91%.
Interest Calculation
Loan amount: ₹30,000
Interest Rate: 18% per annum
Tenure: 12 months
Interest Payable: ₹3,005
Equally Monthly Instalments (EMI): ₹2,750 per month

2. Loan Amount: Rs. 20,000 for OnePlus 5 @ 16% interest rate per annum, Tenure of 6 months, Processing fee: Rs. 300. EMI amount: Rs. 3490/month. APR: 21.33%

3. Loan Amount: Rs. 48,000 for iPhone @ 20% interest rate per annum, Tenure of 15 months, Processing fee: Rs.1,200. EMI amount: Rs. 3643/month. APR: 24.03%

4. Customer availing a revolving line of credit of Rs. 25,000 for a period of 2 years. Over a two-year period, the total fees (includes processing fees and a one-time initiation fee) charged is 9%. The interest rate is 18% per annum. The APR for the revolving lines come as 27.54%.


Features


1. 100% online (paperless) process
2. Minimal documentation
3. No Credit Card required
4. No collateral required
5. Secure transaction (128-bit SSL encryption)

Eligibility Criteria:
1. Indian citizen
2. Minimum age 21 years
3. Minimum income of Rs. 12,000

Documents:
1. Address Proof (either of AADHAR Card/Latest Utility Bill/ Valid Rent Agreement)
2. PAN Card
3. Last 3 Months’ Bank Statement
4. 1 Signed ECS Form for auto-debit


Contact Us
You can also write to us at [email protected]