Is Mr Cash Loans App Legit? Review, Interest Rate

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Mr Cash is an instant loan app that aims to provide users with quick and reliable access to loans for their personal and business needs.

In this post, we will delve into the various aspects of Mr Cash loans, including interest rates, requirements, the application process, app download, customer care, and its legitimacy.

Mr Cash Loan Interest Rate

Mr Cash offers loans with competitive interest rates. For instance, let’s consider an example of a personal loan for individuals:

  • Principal Loan Amount: ₹50,000
  • Tenure: 12 months
  • Rate of Interest: 20% p.a.
  • Processing Fee: ₹1,250 (2.5%)
  • Onboarding Fee for New Customers: ₹200
  • GST on Onboarding and Processing Fee: ₹261
  • Total Interest: ₹5,581
  • Total monthly EMI: ₹4,632
  • APR: 22.9%
  • Amount Disbursed: ₹48,289
  • Total cost of the loan including principal Amount: ₹55,581.

It’s important to note that interest rates can change over time, so borrowers should verify the interest rate of any loan offer before accepting it.

Mr Cash Loan Requirements

To be eligible for a Mr Cash loan, individuals need to meet the following requirements:

  1. Be an Indian resident.
  2. Be above the age of 21 years.
  3. Have a steady monthly source of income.

How to Apply for Mr Cash Loan

Applying for a Mr Cash loan is a hassle-free process and can be completed in just four simple steps with minimal documentation.

The entire application process takes less than 20 minutes. Once the loan is approved, the amount will be immediately transferred to the user’s bank account.

How to Contact Mr Cash Customer Care

In case users require assistance or have any queries, they can contact Mr Cash customer care through the app itself. If contact details are not available in the app, users should reach out to customer care within the Mr Cash app for prompt support.

Is Mr Cash Legit?

Mr Cash is a leading instant loan app provider with a focus on lending. It offers loans from RBI certified NBFCs/Banks, ensuring transparency and reliability.

However, it’s essential to exercise caution while dealing with any financial institution, as companies can change over time. Users should carefully review the terms and conditions of loans before proceeding and make informed decisions at their own discretion.

Conclusion

Mr Cash is a user-friendly instant loan app that caters to the financial needs of individuals and businesses. With its quick processing time, affordable interest rates, and secure loan application process, it stands out as a reliable option for those in need of instant funds.

The app’s features, such as credit score building, budgeting tools, and educational content on finance, provide additional value to users. As always, borrowers should ensure they meet the eligibility criteria and understand the interest rates before availing of any loan.

Mr Cash aims to provide a seamless and trustworthy borrowing experience, making it a viable option for those seeking financial assistance.

All rights reserved. Do not copy, rewrite or republish this content, in part or in whole, without proper credit to the source.

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About the Author: Femi Olawole

Femi Olawole is a seasoned blogger with interest on providing helpful Contents on online loan apps, Tech and Business.

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