Question: What Is CashBean Loan?

What happens if CashBean loan not paid?

When you fail to pay your EMI on the online loan, the lender will send you an intimation about the amount due to be paid.

You can then repay the loan with a penalty as prescribed by the lender.

You will find your credit score reduced after defaulting on your online loan..

CashBean is merely facilitates a transaction between two such persons (i.e. Users). CashBean is not an organization registered with the Reserve Bank of India and does not hold any license to engage in any activities relating to lending or borrowing.

Who is the owner of CashBean?

Anil PinapalaAnil Pinapala, Founder & CEO, Vivifi India Finance Private Limited, is a serial entrepreneur in the Technology based Digital Lending space. He is the Founder and Chief Executive Officer (CEO) of Vivifi India Finance Private Limited (Vivifi).

Can I take loan in Paytm?

Make Loan Through Paytm Loan EMI Payment Instantly on Paytm You can also save money on Loan Through Paytm loan payment with the promo code LUCKY200.

What happens if I don’t pay my loan?

Defaulting on a loan is likely to lead to severe consequences, such as having your debt passed on to a collection agency, or being taken to court. If you have a loan secured with a car or your home, then it could be repossessed to recover the costs.

What is the interest rate of Cashbean?

2.75%Cashbean Personal Loan Interest Rate starts from 2.75%. Cashbean charges a processing fee of Upto Rs. 3,000 on personal loan. Loan tenure of Personal Loan ranges from 3 Months to 12 Months.

How do I get a loan from CashBean?

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.More items…

What is cash bean loan?

CashBean is India’s leading digital lending mobile based personal loans platform. CashBean is a product of P C Financial Services Private Limited, registered under RBI. We aim to meet customer’s financial needs for various requirements ranging from purchase of mobile phones, medical needs, bill payments etc.

Who is the best loan app?

Best instant loan apps in India – 2020Credy. Instant approval within a minute is what makes Credy one of the fastest loan approval instant loan apps currently available in the market. … MoneyTap. … KreditBee. … MoneyView. … PaySense. … CASHe. … EarlySalary. … mPokket.More items…

Is CashBean NBFC?

CashBean – Loan Online Personal Loan App. P C Financial Services Private Limited (the ‘Company’), is a Non-Banking Finance Company(NBFC) duly registered with Reserve Bank of India(RBI), engaged in the business of providing loans.

Which app gives loan instantly?

List of the best instant personal loan apps in India:AppInterest Rate (per month)Minimum & Maximum Loan AmountNIRA1.5 – 2.5%₹ 3,000 – ₹ 1 LakhCashEStarts from 1.75%₹ 5,000 – ₹ 2 LakhCapital First Limited1.16 – 1.33%₹ 1 Lakh – ₹ 25 LakhCredy1 – 1.5%₹ 10,000 – ₹ 1 Lakh18 more rows•Oct 16, 2019

What happens if you dont pay EMI?

Missing one EMI payment doesn’t make you a defaulter. When you fail to pay several EMIs on time, your lender reports you as a defaulter. Some lenders may offer a grace period after the payment date during which you can make the payment; however, a late fee will be charged, but you won’t earn the title of a defaulted.

Can you go to jail for not paying a garnishment?

Before a debt collector can ask the court to garnish your wages or otherwise compel you to pay, you may have to go through a debtor’s examination. … The court can then put out a warrant for your arrest. You’re not technically going to jail because of the debt, but because of the contempt.