Disclosure
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Disclosure
CashPey operates as a digital lending platform, registered with Naman Commodities Private Limited, a registered Non-Banking Financial Company (NBFC) with the Reserve Bank of India (CoR No. B-05.03944).
Important Disclosure: “CashPey” does not have any mobile application on either Android or iOS platforms. All the lending services we provide are only through the official web application and CRM. And we always request our customers to be aware of any app claiming to offer CashPey loans. It may be unauthorised.
Products & Services We Offer
We offer multiple services, especially personal loans, where tenure and loan amount are decided based on the customer’s creditworthiness.
- Long-term personal loans with EMI repayment options, where tenure and loan amount vary as per the requirement.
- Transparent fees – fair interest rates and processing fees, with no pre-approval charges.
- Ancillary financial services like mutual fund investments and health insurance.
- Primary focus: Lending.
Application Process & Eligibility
The application process is fully digital. Loans are reviewed and approved only after eligibility checks.
- No loan applications are accepted over phone calls.
- We never charge pre-approval fees.
- Always verify eligibility before applying.
Eligibility Criteria
- Age: Minimum 21 years
- Credit Score: Minimum 685+
- Employment Type: Salaried individuals only
- Monthly Income: ₹50,000 or more
Rates and Charges with Example
| Details | Example |
|---|---|
| Loan Amount | ₹100,000 |
| Tenure | 12 months |
| Interest Rate | 24% per annum |
| Processing Fee | 5% + 18% GST |
| APR | 36% |
| EMI | ₹9,456 |
| Total Interest | ₹13,471.50 |
| Total Amount | ₹1,13,471.50 |
Additional Fee Details
| Fee Type | Details |
|---|---|
| Rate of Interest | 24% - 36% per annum |
| Processing Fees | 5% of Loan Amount + 18% GST |
| Stamp Duty | Payable as per respective state laws |
| e-NACH Dishonored Charges | ₹500 + 18% GST |
| Penal Charges | 2% monthly (pro-rated on overdue) |
| Pre/Foreclosure Charges | 7% of remaining Principal + GST (after 3 EMIs) |
| Recovery/Legal Charges | As per actuals |
| Part-payment/EMI Pre-payment/e-NACH Swapping | Not Applicable |
| Cheque Bounce Fee | ₹500 + GST |
EMI Planning
CashPey provides an EMI calculator to help applicants plan repayment schedules effectively, offering insights into monthly repayments and total payable amounts.
Grievance Redressal Mechanism
CashPey follows RBI guidelines with a structured grievance redressal policy.
Complaint Submission:
Commitment to Transparency
- All communications are only through official CashPey email domains.
- Always verify interest rates and charges before applying.
- Read lending policy carefully and clarify hidden charges with executives before acceptance.
