Disclosure – CashPey Personal Loan

Welcome to the disclosure page of CashPey, where we are always committed to including fair and transparent lending practices by obeying the norms and the guidelines of the Reserve Bank of India (RBI).

We always share explicit terms and conditions and charge whatever is applicable. To avoid any misconceptions and to get a keen idea of repayment, the customer is advised to carefully read the following disclosures before applying for or availing a Personal Loan from CashPey.

All the charges, loan amount, EMI, etc., have been mentioned, and some changes might be there, or the amount and interest rates can vary as per the customer’s income and credit score.

Loan Amount & Tenure

Loan Amount: ₹25,000 to ₹2,50,000, based on eligibility, monthly income, credit score, and liabilities.

Tenure: 3, 6, 9, 12, 18, or 24 months, depending on borrower’s eligibility.

Applied Interest Rate & Charges

Rate of Interest (ROI): 18% – 36% per annum, based on credit score, repayment history, and financial profile.

Processing Fee (PF): 5% of the sanctioned loan amount + GST (deducted from the disbursed amount).

Important: We never ask for pre-approval or processing fees. Avoid any calls/messages claiming this.

Stamp Duty: ₹100 for Delhi NCR, varies by state, and is disclosed in the Loan Agreement.

No Pre-Approval/Hidden Charges: All charges are mentioned in the Loan Agreement & Key Fact Statement (KFS).

Repayment & EMI

Repayment is done through the e-NACH auto-debit system.

EMI Dates: 2nd, 5th, 7th, or 10th of each month (borrower’s choice).

Ensure sufficient balance on the due date to avoid penalties or issues.

Penalty In Case of Default

Penal Interest: Up to 2% per month on overdue EMI (as mentioned in Loan Agreement).

Late Payment / EMI Bounce Charges: Applicable if EMI is unpaid due to insufficient funds.

Legal & Recovery Costs: May apply in case of continued default, following RBI Fair Recovery Guidelines.

Prepayment & Closure

Loan can be repaid before tenure ends. Pre-closure charges apply as mentioned in Loan Agreement & KFS.

Documentation & Verification

KYC Verification Required:

  • Aadhaar Card
  • PAN Card
  • Address Proof
  • Employment Proof

Income Proof: Last 3 months’ salary slips and last 6 months’ bank statements.

All verification is done as per RBI norms before loan approval.

Borrower’s Rights as per RBI Fair Practices Code

  • Right to receive Loan Agreement & KFS at the time of sanction
  • Right to complete transparency regarding interest, fees, and charges
  • Right to fair collection practices and protection from harassment
  • Right to raise complaints through the Customer Grievance Redressal system


Defaults & Consequences

Non-repayment may result in:

  • Penalty charges as per agreement
  • Reporting to CIBIL/credit bureau, affecting credit score
  • Legal recovery actions, as per RBI rules