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.
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.
|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
- 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.
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.
1. what is the process of getting an instant loan from instamoney.
2. how to get an education loan.