Certified & Licensed as
by RBI (CoR No. N - 02.00299)
5,34,315 Loan Seekers
for their quick loan needs
4.7 stars on Google
by Happy Customers
A personal loan is a quick credit advanced by Cashkumar without asking for security or an asset guarantee. These loans are funded by other individuals with income to invest making them similar to crowdfunding. Loans are approved based on your credit and financial position and must be repaid through EMIs over a set tenure. Cashkumar evaluates your overall portfolio and showcases your requirement to lenders who decide to fund based on their risk appetite. This means that you can stand a chance to get a personal loan on the platform even if there are a few drawbacks in your profile. The loan can be availed for a variety of requirements including travel, marriage/weddings, medical needs, home renovation, goods purchases, debt consolidation and others.
Basic eligibility that we look for include decent credit history, adequate salary and a steady bank record. Other factors like years of employment, employer, city you stay in, residence etc determine important details like eligible amount, tenure and interest rate. There are no charges for applying on the platform and a processing fee is deducted from the loan amount only at the time of disbursal.
Cashkumar caters to your small and urgent requirements and to helps you close high-interest debts or credit cards. You can apply for loan amounts between ₹ 20,000 to ₹ 1,00,000 as a first-time applicant for tenure between 3 to 12 months depending on eligibility. To apply for a loan, you must be atleast 21 years of age and be a salaried professional working in one of the 30 cities in India where we run operations. The company is licensed by the RBI to provide personal loan in India and is a certified NBFC-P2P.
Cashkumar through its RBI licensed NBFC-P2P lending platform brings together borrowers and lenders to transact in personal loans. This model allows a lot of people who have been financially excluded like new to credit customers, people working in proprietorship/partnership companies and people with historical credit issues, get access to loans. People with money can participate in a new asset class and can invest by lending small amounts to multiple borrowe₹ Cashkumar undertakes the credit analysis of the applicants and approves borrowers based on multiple traditional & alternate data points. As compared to other sources, P2P lending allows people from all segments to apply and avail a loan with a quick, online process.
Cashkumar operates and approves loans in a sub-category where the loan requirement is between ₹ 20,000 to ₹ 1,00,000 for a loan tenure of 3 months to 12 months. We currently deal in personal loans with an instant approval and a 2-5 day disbursal process. All steps and documentation are mostly online to save you time and effort. There is also a facility to pre-close the loan at no extra charges or take a top-up loan if there is an additional requirement.
A personal can be taken for a variety of purposes and requirements. Some of these include:
Travel Loan: Going out and exploring the world is not a privilege anymore but a necessity for most of you tired of a busy life. Funds are not a constraint anymore as personal loans can be taken for a luxurious vacation or for short holidays
Home Improvement Loan: These help for reasons as wide ranging from getting a fresh coat of paint for the house to small repairs or remodelling and buying household equipment
Marriage Loan: It is known that weddings or marriages can cost a lot and it is not easy to arrange for such funds. Extended parties or travel can are additional costs which can be met by applying for a Cashkumar personal loan
Debt Consolidation Loan: Most of you would have opted for borrowing money in life to meet a requirement or transact through credit cards. A personal loan from Cashkumar provides a great way to pay off high-cost credit card obligations or debts with high EMIs
Rent deposit Loan: Increasingly young people are travelling to find employment in metro cities where rent deposits can be quite high. It is normal for deposits to be charged in the range of ₹ 1,00,000 for a single house. If you are new to credit, personal loans are the best option to arrange for immediate funds
Medical Loan: Life is never predictable, and you might come across accidents and emergencies from time to time. Personal loans which do not require collateral are a good option to get money quickly. Cashkumar’s online process allows you to get a fast loan and meet your financial needs
The most important factor that needs to be considered while taking a loan is the interest rate, which determines the extra amount that you must pay on the principal. It is basically a fee paid for using some other person’s money. In the case of P2P loans, the interest is decided and calculated by us depending on the risk profile of an individual derived from multiple data points.
Cashkumar calculates a fixed and flat interest rate on loans. This means that borrowers and lenders do not have to bargain which can lead to unwanted delays in loan disbursals. Rates might differ according to the risk category warranted by a borrower profile. Interest rates can thus vary from 18% to 24% per year and charged on the principal amount.
Personal loan from Cashkumar can be beneficial in many ways. Let us look at a few of these:
Documents are proof of reliability and establish the complete profile of a borrower. KYC documents are required as per law to process any loan application and inform authorities when required. We accept your documents in electronic format and these can be uploaded on the site. The basic documents required to apply for a loan include:
Depending on the credit analysis the team might ask for other documents which might include:
Age: Atleast 21 years (for salaried) at the time of taking a loan and maximum 60 (for salaried) at the time of loan closure
Occupation: Salaried with Pvt Ltd, Pub Ltd, Govt, Institutions, Proprietorship and Partnership Companies
Minimum income: ₹ 20,000 in non-metro cities, ₹ 25,000 in metro cities
Salary credit: As account transfer and cheque for salaried employees. No cash salaries
Work Experience: Total work experience of 6 monthsLearn more about Personal Loan Eligibility Criteria here
While our personal loans are exciting there are a few points that you should keep in mind before proceeding with a loan:
Do not focus only on the interest rate - While the interest rate is important it is good to note that the processing fee as well as the pre-closure charges are applicable on each transaction. In case you propose to pre-close your loan, choosing an option which has no pre-closure charges would make more sense even though the interest rate might be a little higher.
Do not hide key information - We conduct thorough checks on validity and originality of information as well as documents and anomalies would result in the loan application getting rejected.
Do not borrow personal loan for investments - This move could backfire if the potential investment turns bad for some instance.
Calculate your repayment potential before taking a loan - Though you might be eligible for a higher loan amount be certain if you could pay the projected EMI or reconsider a smaller amount. A default or delayed EMI payment will affect your CIBIL Score which will hamper the possibility of you getting loans in the future.
Check the loan agreement thoroughly - Please ensure that you read all the Terms & Conditions before signing the agreement. In case of any queries, check with our team and they would be more than happy to help you.
Do not file multiple applications: The final and most important suggestion is not to approach and apply for a loan with multiple banks/NBFCs or NBFC-P2P lending platforms. If your applications are rejected, it could affect your credit rating in a major way.
Cashkumar is a service which provides a great way to finance your immediate needs. For all your quick personal loan requirements, apply through this site or download the app.
Personal Loan Offers
Personal Loan for Corporate Companies
Etyacol Technologies Pvt Ltd
#37-1/1, R K Chambers, First Floor,
Aga Abbas Ali Road,
Ulsoor, Bengaluru - 560 042
Phone: +91 9535800900
Cashkumar does not provide access to pay-day loans and personal loans less than 90 days tenure. Loans offered on the platform are via NBFC-P2P regulated by the Reserve Bank of India, with loan amounts ranging from ₹ 20,000 to ₹ 1,00,000. Our interest rate ranges from approximately 18% to 24% per annum. Loan repayment tenure ranges from 3 to 12 months while the administration fee (processing fee) is approximately 4%.
Reserve Bank of India does not accept any responsibility for the correctness of any of the statements or representations made or opinions expressed by Etyacol Technologies Pvt Ltd (Cashkumar), and does not provide any assurance for repayment of the loans lent on it.