HooCash

Loan Term and Duration When considering taking out a loan, it is crucial to understand the terms and duration associated with the loan. HooCash offers flexible loan terms ranging from a minimum tenure of 92 days to a maximum tenure of 360 days. This flexibility allows borrowers to select a loan period that best suits their financial situation and repayment capabilities.

Loan Amount HooCash provides a range of loan amounts to cater to different financial needs. Borrowers can apply for a minimum loan of ₹5,000 and a maximum loan of ₹50,000. This wide range ensures that whether you need a small amount for an emergency or a larger sum for a significant expense, HooCash has you covered.

Annual Percentage Rate (APR) The Annual Percentage Rate (APR) for HooCash loans is capped at 36%, which is determined by the customer's risk profile. This APR includes all the costs associated with the loan, making it easier for borrowers to understand the total cost of borrowing.

Processing Fee and GST HooCash charges a one-time processing fee based on the loan eligibility, which ranges from 5% to 15%. This fee covers the service fee, payment fee, e-sign fee, and risk audit fee. Additionally, the Goods and Services Tax (GST) is charged at 18% of the processing fee. For example, if a borrower takes a loan of ₹5,000 with a processing fee of 10%, the total processing fee and GST payable would be ₹590.

Loan Examples

1. Example A:
   • Installment Plan: 3
   • Loan Amount: ₹5,000
   • APR: 36%
   • Loan Term: 92 days
   • Processing Fee: 10%
   • Total Processing Fee and GST: ₹590 (₹5,000 * 10% + ₹5,000 * 10% * 18%)
   • Monthly Interest Rate: 3%
   • Total Interest: ₹453.69 (₹5,000 * 36% / 365 * 92)
   • Amount Payable on Due Date: ₹5,453.69
2. Example B:
   • Installment Plan: 4
   • Loan Amount: ₹6,000
   • APR: 30%
   • Loan Term: 120 days
   • Processing Fee: 5%
   • Total Processing Fee and GST: ₹354 (₹6,000 * 5% + ₹6,000 * 5% * 18%)
   • Monthly Interest Rate: 2.5%
   • Total Interest: ₹591.78 (₹6,000 * 30% / 365 * 120)
   • Amount Payable on Due Date: ₹6,591.78

Eligibility Criteria To qualify for a HooCash loan, the following criteria must be met:

• Indian Resident
• Age between 21 and 45 years old
• Valid mobile number
• PAN and Aadhaar Cards
• Active bank account
• Stable monthly income

Features of HooCash Loans HooCash offers a seamless and secure loan application process. Borrowers need only to fill in their identity information and submit the required documents for approval. The application process is designed to be quick and hassle-free, with loans being disbursed directly into the borrower's bank account shortly after approval.

Key features include:

• Ease of Access: Loans can be applied for and received anytime, anywhere.
• Confidentiality: All loan applications are processed with the utmost confidentiality.
• No Additional Documentation Required: Once approved, no further documents are needed.
• Credit Card Not Required: Borrowers do not need a credit card to apply for a loan.
• Privacy Protection: Borrowers' privacy is fully protected.

HooCash stands out for its user-friendly loan application process, flexible loan terms, and commitment to customer privacy. Whether you need a small loan for an urgent expense or a larger sum for a significant financial goal, HooCash provides a reliable solution tailored to meet diverse financial needs.

Understanding the terms, fees, and eligibility criteria is essential for making informed borrowing decisions. With HooCash, you can rest assured that your financial needs are met with transparency and professionalism.