How to apply for a personal loan from simply cash loan app [2023]|Is it safe or not?

admin March 16, 2023March 16, 2023 0 Comments

In this article, we’ll know whether it is safe to apply for any type of instant loan from simply cash or not and what is the right procedure to activate a loan from simply cash loan app.

Introduction

Hi friends, if you want to meet your personal requirements and your financial position and background aren’t stable then there are two ways, the first one is to forget your dream life or another one is to get a loan from simply cash, which is a reputed website that provides loans at minimum interest as low as possible because when you will be back to repay your borrowed amount, the interest rate of the principal amount will be a major problem for you.

Therefore in today’s article, we’ll talk about an app that provides you with an instant loan in any category such as personal, instant, emergency, education loan, and more…

This app is Hero FinCorp instant personal loan app (earlier known as SimplyCash), which helps you to avail of a personal loan instantly.

Simply Cash Loan App Eligibility

There are no hard & fast rules for applying for a loan, your age should be 21 or above, and you must be a salaried employee with or without any credit history and Self-employed with a credit history.

Minimum monthly income ₹20, 000.
Income proof–6 bank statements through net banking
Credit score– 600+
KYC documents– Adhar linked with mobile number and PAN card.

Eligibility criteria can differ with the type of loan, you apply for.

Basic details

Company	Hero FinCorp-part of the Hero MotoCorp Group
Amount	₹ 50, 000 – ₹ 1,50,000
Tenure	6 months to 24 months
Interest rate	maximum 25% per anum
Processing Fee	2.5% of Loan amount+taxes
Types of loan	all types

Types of Personal loans on simply cash loan app

Personal loan
Instant Cash Loan or Small Loan
Emergency Loan
Education Loan
Marriage Loan
Mobile Loan
Travel Loan
Short term loan

Steps to activate the loan

Install the app from Google Play Store
Choose a small credit amount (up to ₹1.5 Lakh) and the preferred EMI option
Enter the basic details like name income and PAN
Complete your KYC process
Add your bank account details
Approval will be done for your loan
Digitally sign the e-mandate and loan agreement
Instant loan amount will be credited to your account

Features and advantage

Easy sign-up and login process
EMI calculator will be provided on the app or website
No physical Documentation
Get the loan amount directly in your bank account
No collateral is required
You can easily get up to ₹ 1,50,000 in loan

Disadvantage

The due date is fixed for payment of EMI, which is the 8th day of the month.
This app provides loans only in 99 cities, so if you are from another city then you can’t apply for the loan.
Your bank account should be in some specified bank, which is around 30 then only you are eligible for the loan from simply cash.
Although it covers all the major banks if your bank is not one of them then you can’t apply for the loan.
This app provides loans to self-employed persons also but there is a condition that you should be working continuously in your company for the last 1 year.
This app doesn’t provide the facility for part-prepayment, although only a few banks provide this facility.
This app also doesn’t provide the facility for foreclosure, if you want to do so then you have to pay some charges.

Conclusion

This app is part of HeroMotoCorp, which is India’s one of the largest automobile companies. So this is a trusted app that provides instant personal loans with minimal documents.

Although this app has a great interest rate, which is normally compared to the apps with high brand image because people trust these apps.

So if you want to get an instant personal loan from simply cash with a digitized document process then you can apply for this.

for more detail contact simply cash.

Ojas Yojana