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Stashfin Loan App is Real or Fake? A Ultimate Guide

Stashfin Loan App

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    In a digital age where financial assistance is just a few taps away, Stashfin Loan App emerges as a convenient solution for those who need instant personal loans and credit cards. But the issue that many potential users ask is, “Is the Stashfin Loan App Fake or Real? In this article, we will explore the in-depth Review of Stashfin lending platform, shedding light on its authenticity and exploring the pros and cons that users should consider.

    What is Stashfin Loan App

    Stashfin is a digital financing platform that offers instant personal loans and credit cards to salaried professionals and self-employed persons. The app claims to provide trouble free loans with minimal documentation, flexible repayment options and low interest rates. Stashfin also offers a Stashfin Visa card which is a prepaid card that can be used for online and offline transactions as well as for withdrawing cash from ATMs. Read Article Cred cash loan

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    Is Stashfin RBI Approved?

    Yes, Stashfin is a NBFC registered with the Reserve Bank of India. The app follows the RBI guidelines and regulations for lending activities. Stashfin also has a valid certificate of registration from the RBI which can be verified on the RBI website.

    How Stashfin App Work

    Stashfin app works in a simple and convenient way. Users can download Stashfin app from Google Play Store or Apple App Store and register with their basic details. After completing the KYC verification users can check their eligibility and loan amount on the app.

    Users can then apply for a loan by selecting the loan amount, tenure and interest rate. The app will process the loan application and disburse the funds to the user’s bank account within 4 hours. Users can also track their loan status, repayment schedule and credit score on the app.

    Stashfin Loan App Fake or Real

    Stashfin loan app is a real and legitimate app that provides personal loans and credit cards to users. Stashfin app has over 1 million downloads on the Google Play Store with 4.3-star rating from more than 40,000 reviews.

    App also has positive feedback from users who have availed its services and praised its features such as quick approval, easy documentation, low interest rates and customer support. Stashfin loan app is not a fake app that scams users.

    Suggested Read: Karur vysya bank consumer loan

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    Pros and Cons of Stashfin App

    Pros:

    1. Instant Personal Loans: Stashfin offers instant personal loans ranging from 500 to 5 lakh Rupees  with flexible repayment options from 3 to 36 months.
    2. Credit Cards: It provides credit cards with a credit limit of up to Rupees 5 lakh suitable for online and offline purchases as well as cash withdrawals.
    3. Low Interest Rates: Stashfin offers competitive interest rates starting from 11.99% per annum which are customized according to the user profile and credit score.
    4. Minimal Documentation: The application process requires minimal documentation including items such as Aadhaar card, PAN card, bank statement, salary slip and a selfie.
    5. Ease of Use: Users find the StashFin app user-friendly and convenient for loan applications and transactions.
    6. Quick Disbursal: Some users reported quick disbursal of loans after a short processing period.
    7. Emergency Funding: Stashfin is suitable for emergencies or urgent financial needs where quick access to funds is necessary.
    8. No Interest for 30 Days: The app offers a claim of zero interest for 30 days which can be beneficial for short-term borrowing if repaid within that period.
    9. Convenience and Flexibility: Users appreciate the convenience and flexibility the app provides for transferring funds directly from their accounts with just a click.
    10. No Review Begging: Unlike some other lenders there is no insistence or requirement for review before disbursal ensuring a hassle-free experience. Read article- Nira loan is fake or Real
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    Cons:

    1. Minimum Income Requirement: Stashfin requires a minimum monthly income of Rupees 18,000 for salaried professionals and Rupees 20,000 for self-employed person to be eligible for a loan.
    2. Processing Fees: It Charge processing fee of up to 4% of the loan amount which is deducted from the disbursed amount.
    3. Late Payment Fees: Stashfin charges a late payment fee of 2% per month on the overdue amount in case of delayed or missed payments.
    4. Credit Score Consideration: It does not offer loans to users who have a low credit score or a history of defaulting or bouncing checks.
    5. Poor Customer Support: Multiple complaints about inadequate or non-responsive customer support, leading to unresolved issues, pending EMIs and concerns over credit score damage.
    6. High Charges and Interest Rates: Many users complain about high processing fees, high interest rates and additional charges that make it costly especially if the loan is not repaid within a short period.
    7. Harassment and Threats: Reports of alleged harassment tactics where the company threatens users by contacting their relatives or family if EMIs are not paid which is a significant concern for users.
    8. Technical Issues: Instances of frequent technical errors in the app, cause inconveniences like debiting amounts, erroneous credit limits and withdrawal problems.
    9. Misleading Claims: Some users dispute claims such as zero interest for 30 days finding that they need to pay extra amounts despite paying before the due date.
    10. Impact on Credit Score: Users express concerns that StashFin discrepancies in reporting credit limits can negatively affect their credit scores and in turn affect other financial transactions such as home loan approvals.
    11. High Total Sanctioned Amounts: Some users reported that the app increases the total sanctioned amount on the credit report, potentially leading to unnecessary financial burden for users.

    Is the Stashfin Loan App Safe

    Stashfin loan app is safe to use as it follows the RBI guidelines and regulations for lending activities. Stashfin also has a valid certificate of registration from the RBI. App advanced encryption and security protocols to protect user data and privacy. The app does not share or sell the user information to any third party without their consent. The app claims that it also has a dedicated customer support team that can be contacted via phone, email or chat for any queries or complaints.

    Read Article: Liquiloans review

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    Conclusion

    Stashfin Loan App is a legitimate and safe digital lending platform approved by the RBI. It offers instant personal loans and credit cards with competitive interest rates and minimal documentation. While it provides convenience there are drawbacks such as processing fees, late payment charges and customer support issues.

    Users should meet the minimum income requirement and exercise caution regarding credit score reporting. Despite some concerns the app employs encryption and privacy protection ensuring user data safety. Read Article: Check 500+ fake loan app list

    FAQs related to Stashfin Personal Loan

    1. What is the CIBIL Score of Stashfin?

    Stashfin is a non-banking financial company (NBFC) and does not have a CIBIL score. However, it does use CIBIL scores to assess creditworthiness when approving loans.

    2. What is Stashfin Loan Customer Care No?

    The Stashfin Loan Customer Care No. is 1800 266 2777.

    3. What are the eligibility criteria for a Stashfin loan?

    To be eligible for a Stashfin loan, you must:

    • Be a resident of India
    • Be between the ages of 21 and 60
    • Have a monthly income of at least ₹15,000
    • Have a valid PAN card and Aadhaar card

    Last Updated on 6 months

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      Vishal Kumar

      Vishal is a content writer who writes articles on various topics and is currently working as a writer on loan, banking, and business related financial topics on LOANPANDIT website. Vishal works to explain financial concepts to the readers in a very simple way through his attractive and informative articles. Their goal is to empower people to make financial decisions.

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