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Cashe has partnered with Magicbricks to facilitate loans for security deposits


BENGALURU: Digital lending startup Cashe has partnered with Magicbricks to offer tenants short term loans for rental security deposits for renting a house. To start with it will be available in the six major cities Bangalore, Pune, Mumbai, Delhi, Chennai and Hyderabad.

The customer can avail a loan of upto Rs 2 lakh and pay it back over six EMIs thereby maintaining financial stability.

“Our partnership with Magicbricks will further enhance the value proposition for thousands of tenants who now have a viable solution to finance their security deposits through Cashe,” said Ketan Patel, chief executive officer, Cashe.

The Mumbai based Cashe disburses short-term loans ranging from Rs 5,000 to Rs 2lakh with a repayment tenure ranging from 15 to 180 days. Since launch of operations, Cashe has disbursed loans worth Rs 1200 crore to over 2.5lakh customers. The platform receives over 1000 applications in a day from young salaried millennials across India with an average loan request ranging from Rs 35,000 to Rs 40,000.

“Our latest loan offering for rental security deposit with CASHe is yet another innovative product that helps rent seekers enjoy fast hassle free loans without disturbing their financial stability. This integration is available across 2.5 lakh rental properties in the key residential markets of India,” said Sudhir Pai, chief executive at Magicbricks.





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