| Interest Rate | 33% |
| Duration | From 7 Days |
| Access Level | Public |
| Company Name | Cash machine-Convenient loan |
| Phone 1 | |
| Phone 2 | |
| Website or Store | |
| Address | G6 5th floor, Sri Krishna residency, Lumbini ave, Diamond Hills, Gachibowli, Hyderabad |
| Category | Dangerous Loan |
| Company Email | PUJASINGH198806@gmail.com |
| Views | 124 |
In today’s digital age, the ability to secure a loan through your mobile phone can be a game-changer. Cash Machine is an online credit loan platform designed to address your financial needs efficiently. Whether you require funds for emergencies, significant purchases, or just to manage cash flow, Cash Machine offers a seamless solution that can be accessed with just a few taps on your mobile device.
How to Apply for a Loan
The application process for Cash Machine is straightforward and user-friendly. Here’s how you can get started:
- Download and Install the App: Visit the application market, download Cash Machine, and install it on your phone.
- Register/Login: Open the app and register using your current phone number. Follow the instructions on the page to complete the data upload.
- Application Review: After submitting your personal information, wait for the review result. The waiting time is minimal.
- Receive Funds: Once your application is approved, the loan amount will be directly transferred to the bank card account you provided.
If you encounter any issues during the process, online customer service is available to assist you.
Key Details and Features
- Age Requirement: Applicants must be above 20 years old.
- Loan Amount: Ranges from ₹7,000 to ₹50,000.
- Tenure: Flexible loan terms from 94 days to 180 days.
- Annual Percentage Rate (APR): Varies from 20% to 30%.
- Service Charge: Service fees range from 6% to 15%.
- GST: Applicable on the fee components as per Indian laws.
Example Loan Calculation
To give you a clearer picture, here’s an example of how the loan calculation works:
Loan Amount: ₹7,000 Annual Percentage Rate (APR): 26% Loan Duration: 120 days Processing Fee: 6%
- Total Interest: ₹7,000 * 26% / 365 * 120 = ₹598.36
- Processing Fees (PF) + GST: ₹7,000 * 6% + (₹7,000 * 6%) * 18% = ₹495.6
- In-Hand Amount: ₹7,000 - ₹495.6 = ₹6,504.4
- Total Repayable Amount: ₹7,000 + ₹598.36 = ₹7,598.36
Data Security and Privacy
Your personal loan data is absolutely safe with Cash Machine. The platform employs encryption and information protection measures to ensure the security of your information. These standards meet the best practices followed by all personal loan applications in India, ensuring that your data is not shared with anyone without your consent.
Cash Machine offers a reliable and efficient solution for securing loans through your mobile phone. With its user-friendly interface, flexible loan terms, and commitment to data security, Cash Machine stands out as a convenient option for meeting your financial needs. Download the app today and experience the ease of instant borrowing at your fingertips. With Cash Machine, managing your finances has never been easier.
Expert Counsel
Loan apps might seem like an easy solution for quick cash, but they come with significant risks. Here are ten crucial tips to help protect yourself when using online lending platforms:
- Prepare for Aggressive Follow-ups if You're Late:
- Even a slight delay in repayment can trigger a flood of messages, often on platforms like WhatsApp. If these messages become overwhelming, consider blocking the sender to protect your peace of mind.
- Avoid Borrowing from Multiple Apps:
- Taking out loans from different platforms to cover existing debts can lead to a deeper cycle of debt. Steer clear of this approach to maintain financial control.
- Beware of High Late Fees and Interest Rates:
- Missing payments can lead to daily interest charges ranging from 5% to 7%, causing your debt to grow rapidly. Avoid missing deadlines to prevent accumulating excessive interest.
- Only Download Apps from Official Stores:
- Stick to trusted sources like the Google Play Store when downloading loan apps. Unverified sites can compromise your privacy and expose you to cyber risks.
- Consider Safer Alternatives:
- Many loan apps are designed to trap users in debt cycles, impacting financial stability and privacy. Seeking out more secure and traditional financial options can help avoid these pitfalls.
- Watch for Short Repayment Periods:
- Some apps set repayment terms as short as 6 to 14 days, making it challenging to repay on time and often leading to debt traps. Ensure you’re comfortable with the repayment schedule before borrowing.
- Protect Your Privacy and Reputation:
- Loan apps may contact your family or friends to pressure you, potentially harming your reputation. For some, this alone is a reason to avoid these apps entirely.
- Break the Borrowing Cycle:
- The best way to escape high-interest debt is to stop borrowing altogether. While it might be challenging initially, taking a break from these loans is essential for financial recovery.
- Use Call-Blocking Apps Like Truecaller:
- Apps like Truecaller allow you to screen and block unwanted calls from lenders, helping to reduce stress from persistent calls and messages.
- Report and Block Aggressive Contacts:
- If you receive abusive or threatening messages on platforms like WhatsApp, block the sender and report them to both WhatsApp and the app store to help protect others from similar harassment.
Join our Facebook Group
Reviews
Related Loans
.webp){kind=small}
Safely Report A Loan Shark
If you have borrowed from a loan shark or are worried about someone else, we’re here to help and keep you safe. Learn how to break free from their grasp.
