Recent trend on twitter with #CashgivingApp #CASHeApp forced me to dig deeper about it and there I landed on Google Play Store page of @CASHeApp. After browsing all the tweets under #CashgivingApp my first thought was – Karza is so easy these days [Availing loan is quite easy these days].
The Launch of the App happened on 31-March-2016 at ITC Hotel and guess who was invited – Arjun Kapoor , who’s upcoming film Ki and Ka is about to hit theatres on 01-April-2016. Some of the eye-catching tweets and images
The #CASHeApp App Working
As mentioned on Google Play store
- Register on the CASHe mobile app through your Facebook or LinkedIn profile.
- Upload your proof of employment, a scan of your PAN card and a Photo.
- Within two hours, you will be informed of your eligibility. Then, simply log in and select an amount.
- CASHe will send it right into your bank account!
- One could only avail a loan of Rs. 5,000 to Rs. 50,000, for a 15-day period.
- Plain and Simple
Before You Register and Avail the Loan, Get Answers to These Questions
- What would happen if a user does not pay the money within the due date?
- What’s the policy of Cashe to get loan back? As there is no guarantee, even they cannot pick back the asset/guarantee under their possession?
- Why do they need proof of employment? Many freelancers, business- men part timers or daily wagers do not have such proof? So if they are targeting “people in need” it is just the salaried employee! The whole advertisement actually fails in that case.
- If my phone gets stolen and a person applies for that loan [because it is just one time registration] what should I do?
- After registration, what if I change my employment?
- Could I make the partial repayments or only one repayment is allowed?
The Big show of #CashgivingApp is misleading, where at one hand they are targeting mass “who needs money” the process force us to show “the proof of employment with pancard” making it accessible to only people who can actually show it.
How about homemakers or college students who need bit of extra cash? Or a road traveler who is not able to locate an ATM machine nearby and his car is broke?
I agree it is too early to comment on how the #CashgivingApp actually makes its profit and how many people actually found it useful. On this launch day, I wish them – Best Of Luck!