Products

It’s a constant attempt that we make at CashMyPayment, to extend credit to our potential customer from all backgrounds, financial ability & use case. To match the demand & expectations off our customers, we created an array of instant personal loans so that we can enforce a complete financial inclusion.

Currently we are offering 3 products to our valued customers with attractive rates & validity.

Our Products

Currently we are offering 3 products to our valued customers with attractive rates & validity.

Services

MINI POCKET Loan

A Mini Pocket loan option where you can avail a loan within 30 minutes of successful documentation as direct bank transfer. All you need is your PAN Card, ID & Address Proof & Financial Documents, and you can avail from ₹1,000 to ₹25,000 for a tenure ranging from 91 days to 180 days.

Use Case : Urgent Bill Payment, Household Cash Crunch, Unplanned Expenses, Month-end expenses, Shopping, Etc.

Services

FLEXI POCKET Loan

A Mini Pocket loan option where you can avail a loan within 30 minutes of successful documentation as direct bank transfer. All you need is your PAN Card, ID & Address Proof & Financial Documents, and you can avail from ₹1,000 to ₹25,000 for a tenure ranging from 91 days to 180 days.

Use Case : House Rent payment, Medical Emergency, Festival, Family Function, Unexpected Travel Expenses, Etc.

Services

PRO POCKET Loan

A Pro Pocket loan option where you can avail amounts from ₹75,000 to ₹5 Lakhs as direct bank transfer for a tenure ranging from 3 to 24 months. All you need is your PAN Card, ID, Address Proof, and Salary Proof.

Use Case : Marriage, Higher Education Fee, Planned Travel & Leisure, Festivity Purchase, Medical treatment Etc.



Shape Works

How to get started

  • Visit www.cashmypayment.com/apply-now.php

  • Select the product you would like to apply for

  • Fill out the contents, then submit the application

  • After the submission, you may receive a call for verification. The final application result will be informed by SMS / E-mail if approved.

  • Provide the consent with the loan agreement after the approval

  • After the confirmation of the loan agreement, the approved loan amount will be disbursed in the account, and SMS / E-mail notification will be sent.

Amount, Tenure, Fees & Charges

Loans amount: ₹1,000 to ₹200,000, Tenure: 91 days-12 months. CashMyPayment does not charge an one-time service fee while onboarding or during the any upgrade. Interest rates range from 10%-29.95% with an equivalent monthly interest rate of 0.7%-2.49% only. A small processing fee is charged for loans, e.g., for low-risk customers, 1%-3% of the principal, for very high-risk customers, 2.5%-6.5%*. The charges and repayment tenures vary based on the creditworthiness and repayment ability of the customers

The penalty will be charged only when someone delays their scheduled payment.

The APR for different products is separate as per the risk profile of the customers. The APR for other personal loan products: low-risk customers are 12%-25%, medium risk customers are 18%-28%, high-risk customers is 24%-30%* and very high-risk customers is 24%-32%*.

In addition to it, GST will be applicable only on the fee components as per Indian laws.

Example


A new low-risk customer availing a personal loan for a salaried individual can avail a loan of ₹50,000 at an interest rate of 22%, a processing fee of ₹1,250 for 12 months, and onboarding fees ₹350. This would translate to an APR of 25.2%.

Interest Calculation


If the loan amount is ₹50,000 & interest is 22% per annum, and the loan is to be repaid over 12 EMIs, then overall interest payable is ₹6,157 only. The EMI per month would be ₹4,680 only.