CashBean is an lending platform for salaried professionals. Driven by P C Financial Services Private Limited, an RBI registered NBFC, CashBean offers a personal loan through smartphone within 10 minutes with minimal documentation. Personal loan amount from Rs. 1,000 to Rs. 60,000 can be availed with 33% annualized interest rate.
CashBean interest rates
CashBean offers attractive interest rates for personal loans. Moreover, there is no hidden fee and charge. Here is a list of fees and charges applicable on a personal loan from CashBean.
Rate of interest
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Up to 33% p.a.
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Processing fee
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Up to Rs.3000
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Loan foreclosure/ pre-payment charges
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Nil
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Bounce charges
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Nil
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Late payment penalty
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2%
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Stamp duty charges for loan documentation
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As per the law
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Duplicate NOC
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Nil
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Repayment mandate/instrument swapping charges
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Nil
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Loan cancellation charges
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Nil
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Loan re-application charges
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Nil
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Statement of account charges
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Nil
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Duplicate repayment schedule charges
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Nil
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Bounce charges
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Nil
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Membership fee
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For primary membership
1-Month: Rs. 120
3-Month: Rs. 250
For senior membership
3-Month: Rs. 300
6-Month: Rs. 600
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CashBean Eligibility Criteria
An applicant needs to fulfil the following criteria to get a personal loan through CashBean:
- Should be an Indian resident
- Should be aged between 21 years and 56 years
- Should have a regular source of income
- Should have a bank account
Features and benefits of CashBean personal loan
- You don’t need to have a credit history to get a personal loan from CashBean. The loan amount is offered based on a customer’s risk profile.
- The entire loan process is paperless and digital through your mobile.
- You can apply and access loans at any time from anywhere.
- Loan application is reviewed in just 30 minutes, and once approved, the loan amount is deposited to your bank account directly in 5 minutes.
- Services are available across India.
- With a good credit score, the eligible loan amount gradually increases.
- Repay the loan through a variety of convenient repayment methods.
How does CashBean work?
- Download the CashBean app from the Google Play store.
- Register yourself via phone number on the app.
- Select the product you are looking for.
- Fill in the loan application form with your basic information, enter the loan amount you want to borrow, and submit the application.
- After that, you may receive a phone call for verification. The final application status will be displayed in the app and, if approved, you will be informed by SMS.
- Sign the loan agreement online after the approval.
- After E-sign, the loan will be deposited to your bank account in a few minutes and you will be notified by SMS.
Documents required for CashBean personal loan
Applicants looking for a personal loan need to submit these documents:
- Photo identity proof – PAN Card
- Identity proof: Voter ID card/ Driving License/ Aadhaar Card
- Your selfie
- Latest salary slips
- Permanent address proof: Any of - Driving License / Leave & License Agreement /Passport/ Voter’s Identity Card/ Utility Bill such as Electricity Bill/ Landline Phone Bill/ Gas Bill of current address (not more than 2 months old)
- Latest bank statement showing salary credit
Different types of loans offered by CashBean
Salary advance: CashBean offers an instant personal loan with a limit of Rs. 1,500 to Rs. 50,000 to salaried professionals before they receive their salaries.
Cash loan: CashBean offers cash loans at competitive interest rates with easier and quicker approvals.
Instant loan: Working professionals can get an instant loan from CashBean to meet their urgent, unexpected cash expenses. You can get an instant loan ranging from Rs. 1,500 to Rs. 50,000 without any credit history.
Private loan: Sometimes, you may have a shortage of funds to take a trip, celebrate special occasions, or gift your family and friends on a special occasion like birthday, marriage anniversary etc. CashBean offers a quick private loan to help you overcome these financial problems.
Small loan: At some points, you may find it difficult to manage around budget and run out of cash before long before your salary is credited. In such cases, a small loan can help you manage your expenses and survive until you get your salary.
CashBean customer care
CashBean values its customers and offers one of the best customer services. You can contact CashBean on different touchpoints mentioned below:
Email ID: cashbean.help@pcfinancial.in
Customer service hotline: 18005728088, 0124-6036666
Address: Building RZ-2, Pole No-3, G/F, Near HDFC Bank, Kapashera, New Delhi-110037
FAQs
Q1. Can I apply for a loan from CashBean?
Any individuals who meet the following criteria can get a personal loan from CashBean. • Resident Indian • 21-56 years old • Should have a regular monthly income.
Q2. Which cities does CashBean operate in?
CashBean is available in all cities in India.
Q3. Why should I e-sign the loan agreement?
The loan agreement is a legal document that states that you have been approved for a loan amount for an agreed time period and you are liable to pay back the entire amount along with the interest rate and other charges as applicable.
Q4. How will I receive the loan?
When you apply for the loan, CashBean requires you to provide your account number and verifies it. After you sign the loan agreement, the loan amount is transferred to your bank account within minutes.
Q5. How to repay the loan I have got?
Once you get the loan amount, you can repay the loan through various payment methods including debit cards, UPI, net banking and wallet. Also, you can use the Razorpay repayment portal of the app.
