Cashbean loans do not take your credit history into account and hence your CIBIL™ Score will not be affected when you apply for a loan with them. 

However, if you fail to repay the loan or make late payments, this is reported to the credit bureau and will have a negative impact on your credit score. 

Additional Reading: 10 Best Platforms To Get Instant Short Term Loans In India

What is Cashbean?

  • Cashbean is an instant loan app that offers loans based on your monthly salary
  • You just have to create an account on the app using your basic details like name, mobile number and PAN number
  • The app will tell you your loan eligibility based on your monthly salary
  • You can click on ‘Apply’ and provide your bank details, where you want the amount to be credited
  • The loan amount is disbursed instantly for you to meet your needs

The biggest advantage of instant loan apps like Cashbean is that they don’t check your credit score to sanction your loan. These loans are primarily approved based on your monthly take home salary. 

But one should be very careful when availing such loans. For one, the interest rate is very high. Cashbean offers an annual interest rate not exceeding 26%, but there are loan apps that charge a daily interest rate of 1%. 

When you fail to repay the loan, your payment defaults shall be reported to credit bureaus which will have some adverse effects on your credit score. Also, you may have to face some unpleasant consequences. They quickly turn over unpaid loans to collection agents who are known for their infamous collection methods.

Additional Reading: How Can I Get An Rs 50000 Loan


While Cashbean and other instant loan apps provide a quick way to avail funds during emergencies, you may fall into a debt trap unknowingly and struggle to pay off the loan. Go through the terms and conditions of these loans carefully and make the right decision. Since they may process your loan without checking your credit score, if you make timely payments and close off the loan, they could be beneficial in boosting your credit score. On the other hand, if you default on a single payment, your credit score is going to take a fall.