CASHe launches Instant Credit Line facility for its customers
By Leandra Monteiro
CASHe, an Indian digital lending platform for salaried millennials recently announced that it has launched an instant personal Credit Line facility for its customers. The Credit Line facility enables the customers to borrow funds up to INR 400,000 or even as little as INR 10,000 with a flexible loan tenure up to 1 year. With the Credit Line facility at their disposal, customers of CASHe can borrow any amount from their sanctioned limit at any time and receive the selected amount in their bank accounts instantly and repay as per the loan tenure associated with the Credit Line.
This enables customers to have a personal cash reserve at their disposal. They can either utilise the total approved limit at one go or choose to utilize a part of the approved Credit Line to fund their immediate needs. If the users choose to borrow a part of the Credit Line, the interest is charged only on the amount borrowed and not on the total approved limit.
Another feature of the Credit Line facility is that it offers the customers to choose an existing personal loan product (PL) from CASHe as part of the Credit Line and also opt for a Buy Now Pay Later (BNPL) loan to fund their purchases from popular online shopping sites like Amazon or Flipkart. Also, as part of expanding its BNPL offerings, the company expects to add another 15+ major shopping brands within the next two months.
Commenting on the launch of the new solution, Yogi Sadana, CEO, CASHe said, “Since our inception, CASHe has always been at the forefront to understand, innovate and fulfill customers’ expectations, demands and evolving needs. The Credit Line facility is one of the many successful value additions to our portfolio we have introduced. CASHe’s Credit Line was designed with an aim to solve customers’ problem by providing them with access to credit and by solving their need for having liquidity on the spot. I am also pleased with our inhouse Development and Engineering team who worked diligently to get this product out in a short time frame with all the features and functionalities that a new age tech-enabled financial services company is expected to deliver.”
Over the past year, CASHe has expanded its retail credit portfolio by introducing a BNPL product as well as offering larger ticket-size loans. the company has been at the forefront of addressing the varying demands of its customer and has recorded remarkable growth in customer acquisition as well as disbursement of loans. The company expects to play a significant role in advancing financial inclusion with its alternate credit scoring platform “Social Loan Quotient” and will make further efforts to make credit more accessible to the credit-starved and underserved millennials of India.
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