CashFish: Convenient Loan Access with Risks
CashFish is a free loan application designed for the Indian market, providing users with quick access to short-term loans through a seamless, paperless process. The app is user-friendly, allowing applicants to submit their requests via personal devices and receive results within minutes. With loan amounts ranging from ₹2,000 to ₹50,000 and flexible repayment terms, CashFish caters to both salaried and self-employed individuals, making it an appealing option for those in immediate need of funds.
Despite its convenience, CashFish presents significant risks associated with its high interest rates, set at 30%, which can lead to potential debt traps for unsuspecting borrowers. The app does not require collateral, enhancing accessibility, but users have reported inefficiencies in the payment collection process, with aggressive SMS reminders even post-repayment. While CashFish may serve certain financial needs, users should approach it with caution, weighing its advantages against its drawbacks.
