CashBean Instant Personal Loan: Interest Rates, Eligibility, How to Apply

Cashbean offers instant online personal loans up to Rs.60,000 at 0.07% per day interest rate. The repayment tenure of the loan ranges from 3 to 6 months. You can apply for the loan through Cashbean’s mobile app or official website and get the money within minutes through a digital process.

Full Details of Cashbean Personal Loan

Loan amount 1,500 to 60,000 rupees
Loan tenure 3 to 6 months
Rate of interest 25.55% p.a. or more
Processing fee Rs 90 to 2,000 + GST
Age 18 to 56 years
Credit history not required
Minimum EMI (for a loan of Rs.60,000) Rs.10,758.00

Features of Cashbean Personal Loan

Loan Purpose: You can use CashBean to purchase anything, pay credit card dues, pay utility bills, pay school fees, purchase consumer durables or gadgets, plan a family vacation, make a down payment for yourself. You can take advantage of personal loan in the form of

Amount: You can take a loan from CashBean from Rs 1,500 to Rs 60,000.

Interest Rate: The interest rate on CashBean starts from 0.07% per day (25.55% per annum). The maximum interest rate can go up to 26% p.a.

Loan Repayment: The loan can be repaid within a tenure of 3 to 6 months.

Processing Fee : Rs.90 to Rs.2,000 + GST ​​of 18%.

Prepayment Fee: The loan can be prepaid at any time without any other fees.

Why Apply for Cashbean Personal Loan?

There are many benefits of taking a loan from Cashbean, as mentioned below:-

Loan amount as per requirement: You get loan facility from Rs.1,000 to Rs.60,000 depending upon the nature of need or emergency. You can apply for a personal loan from Cashbean at any time when you need money.

Less Documentation: Since the entire loan process is digital, it involves very less paperwork and reduces the time taken to get the loan.

Interest Rate: The rate of interest is competitive and starts from as low as 0.07% per day.

Quickly Processed: Since there is no paperwork involved, the time taken for the entire loan process is minimal, and the amount is credited to your account within minutes of the loan application approval.

No Guarantor Required: The Personal Loan from Cashbean does not require any security or guarantor as it is an unsecured loan. This aspect makes taking a loan from CashBean hassle-free.

Pan India Presence: CashBean is working in almost all the cities across the country. It is accessible to a large section of the population. You can apply for a loan from any part of the country through CashBean.

No Credit Score Required: You can apply for a personal loan through CashBean even if you do not have a good credit score or have no credit score. CashBean has a proprietary tool which considers various other data points to draw the credit profile of the customer and does not rely on the credit score alone to judge the creditworthiness of the customer.

24×7 Customer Care Facility: All your queries are answered here and guidance from the customer support group is available round the clock.

No Hidden Fees: The applicable charges for personal loan are displayed on the website and no other charges are levied at the time of loan disbursement.

Cashbean Personal Loan EMI Calculation

Calculating CashBean Personal Loan EMI is easy. You can use the online personal loan EMI calculator available on our website for free of cost. All you need to do is enter three basic details, such as the loan amount required, the interest rate and the repayment tenure chosen by you. By pressing the button, EMI will be calculated instantly.

Let us understand EMI calculation as an example:-

Required loan amount: Rs.60,000

Interest Rate : 25.55% p.a.

Loan Repayment Period: 6 Months

EMI to be paid every month till the end of the tenure: Rs 10,758

Total interest to be paid: Rs 4,550

Total amount to be paid to the lender: Rs 64,550

The year opening balance Amount paid by the customer (EMI*12) interest paid repayment of principal during the year deposit balance
1 Rs.60,000.00 Rs.32,275.00 Rs. 3,223.00 Rs 29,052.00 Rs 30,948.00
2 Rs 30,948.00 Rs.32,275.00 Rs 1,327.00 Rs 30,948.00 zero rupees

Cashbean Personal Loan comparison with other lenders

name of lender Interest Rate (per annum) processing fee Maximum loan amount
CashBean 25.55% to 26% Rs 90 to 2,000 + GST Rs.60,000.00
KreditBee 12% to 18% 3% + GST 1 lakh rupees
Anytimeloan 18.25% to 54.75% up to 2 10 lakh rupees
EarlySalary 24% to 30% Rs.199 or more 5 lakh rupees
CASHe 27% to 33% up to 3 Rs 4 lakh
PaySense 16% to 36% Up to 2.5% + GST 5 lakh rupees

Documents Required for Cashbean Personal Loan

To avail personal loan from CashBean, the minimum documents required to be submitted are as mentioned below:-

For KYC Documents: PAN Card, Voter ID Card and Aadhar Card.
A photograph will also have to be scanned and uploaded along with the above documents. With PAN card, credit score and other details about financial status can be verified.

Cashbean Personal Loan Eligibility Criteria

Following are the Cashbean Personal Loan eligibility criteria:-

  • Applicant must be either salaried or self-employed.
  • A regular source of income is essential.
  • Applicant’s age should be between 18 to 56 years.
  • Applicant must be a resident Indian.
  • The applicant must have a valid PAN card and address proof.

Charges Charged by Cashbean for Personal Loan

Processing Fee: Rs 90 to 2,000 + GST ​​depending on the loan amount and application details.

Late Fee : A penalty of 2% of the outstanding amount is levied for non-payment of EMI on the due date.

subscription fee:

For Primary Membership: Rs.120 for 1 month and Rs.250 for 3 months.
For Senior Membership: Rs.300 for 3 months and Rs.600 for 6 months.
Foreclosure Charges : Nil

How to Apply for Cashbean Personal Loan?

You can download CashBean Mobile App from Google Play Store. Click on the link to download .

You need to register to create an account and check eligibility to apply for the loan. You need to provide some basic details as given below:

  • Name and address
  • Mobile number
  • Email ID
  • Job status
  • Monthly income
  • Location
  • Bank account details have to be provided for disbursement of loan amount.
  • Before disbursement, you will also be required to agree to the CashBean Terms and Conditions on the Mobile App.
  • The loan application will be processed, and the amount will be credited directly to the bank account upon approval and e-signing of the loan document through the app.

How to repay CashBean Loan?

  • To make CashBean loan payments, you need to log in to the mobile app using the registered mobile number.
  • Then you have to select Wallet from any payment option like Razorpay, Bank transfer, Paytm Wallet, or other option like Debit card, UPI, or other payment gateway.
  • If you are paying through net banking, then you have to choose the option of bank transfer.
  • You can also opt for auto-debit option by executing an online mandate, i.e. NACH mandate or manual mandate, i.e. EMI amount will be debited from your bank account on the due date.
  • You have to provide accurate bank details for debit of EMI amount.
  • It offers the facility of prompt repayment without missing a due date.
  • Auto-debit will be honored only if sufficient balance is maintained in the account on the due date.

CashBean Personal Loan Customer Care

You can reach out to the CashBean Personal Loan customer care team in any of the following ways:

Email Customer Care: Cashbean.help@pcfinancial.in
Call Customer Care Hotline Number: 180 0572 8088 or 0124 – 603 6666, daily from 9 AM to 8 PM, except on public holidays.

Cashbean Personal Loan FAQs and Answers ( FAQs )

Q: How does CashBean assess loan eligibility? Can I improve my CashBean credit limit?

Ans: The factors that are considered for assessing CashBean loan eligibility are monthly income, repayment capacity and credit score of the applicant. If you intend to increase the credit limit, you will have to take frequent loans through CashBean and make quick payments every time. You will be eligible for a higher credit limit provided other factors like monthly income, repayment capacity and credit score are satisfactory and support the credit policy of the company.

Question: What are the benefits of taking a loan from CashBean?

Answer: There are many benefits of taking a loan from CashBean, as mentioned below:

  • Loan can be taken up to Rs.60000.
  • There is no paperwork as the entire process is 100% paperless.
  • The interest rate is competitive.
  • The loan is disbursed fast.
  • No guarantor is required.
  • Enables you to apply for a CashBean loan from any part of the country.
  • No credit score or history is required to avail the loan.

Question: My CashBean loan disbursement is getting delayed, what should I do?

Answer: The pending disbursements may be due to some technical issues faced by the bank. In some cases there may be a delay of one day in the payment. If the disbursement does not happen as per the schedule, wait for 1 day. If the matter is still not resolved, please email Cashbean Support Group: cashbean.help@pcfinancial.in

Question: What type of interest is charged on CashBean, what is the method of calculation of interest?

Answer: There is only one type of interest, i.e., fixed rate, and the interest is calculated on reducing the balance at annual rates. CashBean considers 360 days in a year for interest calculation.

Question: How to e-sign the loan document?

Ans: To e-sign the loan document, you need to select the option ‘e-Sign with Aadhaar’. You will also receive an OTP on your registered mobile number and registered email ID. When you click on the option ‘Digital Sign with Email and OTP’, you will get access to the loan agreement page, and an OTP will be generated and sent to your registered mobile number. You will give your consent to the loan agreement by entering the OTP received on your mobile number.

Question: What happens if I do not make the repayment on the due date?

Answer: If you miss the EMI due date, you will be liable to a penalty of 2% of the overdue amount for this period. You will not be able to get an instant personal loan of higher amount from CashBean. Since your profile will be updated as a defaulter by the credit information bureaus, you will not be eligible for loans from banks and other financial institutions in future.

Q: What is Super Bean, and how to get Super Bean subscription?

Answer: Customers having satisfactory dealings with CashBean will qualify for Privilege Membership with CashBean. This privilege membership is the super bean. To become a member of Super Bean, you need to follow the simple steps below:

  • Click on Super Banner to access membership details.
  • Choose either Basic Membership or Premium Membership
  • Accept the ‘Terms and Conditions’ to give your consent.
  • Membership fee will be based on the type of membership chosen. Membership starts from Rs.100.

Q: What are the benefits of Super Bean?

Answer: The following are the benefits of Super Bean:-

  • Waiver of processing fee
  • special coupon package
  • quick disbursement of loan

Q: What if the repayment is made to a wrong account?

Answer: In case the payment is made to the wrong account, you can lodge a complaint by email at cashbean.help@pcfinancial.in. You will need to provide your loan account details and registered mobile number and transaction details of the repayment made. If the payment is made to an account that does not belong to CashBean, CashBean is not liable, and you will have to make the payment once again.

Q: How to apply for a personal loan through CashBean?

Ans: To apply for a personal loan through CashBean, you need to create a CashBean account by downloading the CashBean mobile app from Google Play Store. Then you have to check eligibility by providing some personal details like name and address, mobile number, email id, city and other details listed in the loan application. Bank account information will also be required. The disbursement will be done only when you agree to the terms and conditions and e-sign the loan document upon approval of the loan application.

Full details of Cashbean personal loan have been told in this post. What is the interest rate of Cashbean personal loan? What are the documents required for Cashbean personal loan? What is the eligibility for Cashbean personal loan? How to apply for Cashbean personal loan? What is the customer number of Cashbean personal loan? Everything is explained in detail.

Leave a Comment

Your email address will not be published.