How can people getting salary in cash get instant personal loan approval with RupeeCircle?

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Personal loans are a great way to pay off sizeable expenses while protecting your savings for a stable, financial, burden-free future. Furthermore, personal loans can largely help underbanked individuals who don’t earn a hefty monthly salary to provide for the present needs of their family. However, individuals who receive their salaries in cash are denied a personal loan by many financial institutions as they don’t fulfil the loan criteria.

Instant Personal Loan through RupeeCircle

RupeeCircle is a P2P lending and borrowing platform which provides underbanked individuals with an easy method to avail instant personal loans bearing low-interest rates and flexible repayment options. However, most P2P lending or borrowing platforms approve loans of those who get their salary credited to their bank accounts. RupeeCircle conducts personal loan approval through its unique and innovative ‘Cash Portal’ for individuals who receive their salaries in cash.

RupeeCircle’s Cash Portal

RupeeCircle, through its ‘Cash Portal’ initiative, intends to provide instant personal loans of Rs 10,000 to underbanked individuals getting their salary in cash. Such people who are living in Mumbai or Chennai in their owned/parental house and have a prior financial history or a CIBIL score can apply for an instant personal loan on the RupeeCircle platform. The verification process for personal loan approval is done through a simple KYC process and requires minimum documentation on the borrower’s part.

By using RupeeCircle’s Cash Portal, a borrower can utilize the following benefits:

  • Instant loan credit: The KYC process is immediately followed by personal loan approval. As soon as the instant personal loan is approved, the applied loan amount up to Rs 10,000 is disbursed to the borrower within 2-3 working days subject to successful verification and funding being completed.
  • Flexible Repayment Option: Among multiple repayment options, such as through online channels or by depositing the amount in the RupeeCircle account, the borrowers are provided with a unique feature to repay the loan in cash. They can visit the nearest RupeeCircle office where they are allowed to repay the principal amount plus interest with cash.

The introduction of Cash Portal by RupeeCircle has solved the core problem of people aspiring to secure a financial burden-free future by availing instant personal loans. Unlike other financial institutions and P2P platforms, RupeeCircle allows people with cash salaries to avoid savings-draining moneylenders and get low-interest loans up to Rs 10,000. Backed by inventive technologies and algorithms, the platform is constantly developing creative features and introducing initiatives to help people who are denied a loan from other financial institutions. To know more about the revolutionary Cash Portal and avail instant personal loans, visit RupeeCircle or download the RupeeCircle app from the Google Play Store.

This article is authored by Nikhil Prabhakar, Head of Marketing & Products at RupeeCircle. He is an alumnus of IIM Ahmedabad & ESCP Paris and has 10+ years of work experience across multiple industries like Fintech, IT & Energy. He is an active investor across equity, derivatives, debt and real estate.

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