StashFin Line of Credit

About StashFin Line of Credit

StashFin is a leading digital lender that provides personal loans as well as a continuous line of credit for the customers to meet their various emergency cash needs. The line of credit can be simply explained as the modified or improved version of personal loan. Customers not only get the benefit of instant personal loan for a considerable duration at competitive interest rates but also the benefit of a credit card wherein they have to pay interest only on the amount withdrawn out of the limit sanctioned to them.

This provides a huge relief in the interest payment as well as gives the customer the benefit of a rolling format of credit. Customers can renew the credit limit available to them upon the payment of the outstanding dues and thus get a continuous line of credit or can withdraw from the limit multiple times. The details of the line of credit provided by StashFin are highlighted below.

Eligibility for StashFin Line of Credit

The eligibility for StashFin line of credit is similar to that of the personal loans offered by StashFin. StashFin has multifold eligibility criteria set for the customers to qualify for the line of credit. The criteria are relatively broad and ensure maximum reach of this product of StashFin.

The details of the same are mentioned below.

Residential Status

StashFin Line of credit can be applied by any person who is an Indian citizen and is residing in India.

Age requirement

The minimum age to be qualified for the line of credit of StashFin is 18 years.

Income requirement

The line of credit of StashFin can be availed by any person who is self-employed or salaried. Salaried individuals should have a minimum monthly income of Rs. 20,000 to qualify for this product of StashFin.

Valid Bank Account

Another important requirement is to hold a valid bank account. This requirement is also needed to verify the authenticity of the employment by way of salary credits as well as to determine the repaying capacity of the applicant.

Documents for StashFin Line of Credit

The list of documents to be submitted by the applicants along with the application are basic KYC documents as well as documents relating to the income proof of the applicant. The list of the same is given below.

Identity Proof

The applicant can submit any of the following documents as identity proof

• Aadhaar Card
• Passport
• PAN Card
• Driving License
• Voter ID

Address Proof

The applicant can submit any of the following documents as address proof

• Aadhaar Card
• Passport
• PAN Card
• Driving License
• Voter ID
• Latest utility bills
• Registered Rent Agreement or lease agreement or sale deed

Employment Proof

The applicant also has to provide employment proof as part of the documentation. The employment proof can be the details of the employer. In case of self-employed persons, it can be the details of the business or the profession as the case may be. The customers can contact the customer care of StashFin for further details in this regard.

Income Proof

The income proof is another important document to be provided by the applicant. This is required in order to verify the income eligibility of the applicant. Salaried persons can provide their latest salary slips as income proof. In case of self-employed persons, the applicants have to provide the latest ITR (past 2 years) as income proof.

Bank Account

The customers also have to submit the details of the valid bank account held b y them. This account may also be used for crediting the amount of credit availed by them if sanctioned.

Application Process for StashFin Line of Credit

The application process for the StashFin line of credit is digital and very customer friendly. The customers can download the mobile application for StashFin or can visit the official website of the same for applying the line of credit.

The process for the same is discussed below.

• First step is to visit the website of StashFin or to download the mobile application of StashFin available on Google Playstore and Apple Store.
• The applicant will have to register at the website or the application by providing the basic details like name, address, email id, mobile number, etc.
• The customer will have to submit the OTP received on the mobile number to proceed further.
• The next step is to upload the documents that are required to be submitted to complete the application.
• The customer will be informed when the line of credit will be approved and the customer will receive the details of the tenure and the rate of interest charged for such facility.
• The customer can then select the date and time of their convenience when the representatives of StashFin will visit the premises of the customer to collect the documents.

After approval of the credit, the customer will get the disbursal of credit limit within 4 hours of approval or as quick as 90 seconds through the mobile application.

Features and Benefits of StashFin Line of Credit

The various features and benefits that can be availed by the customers through the StashFin Line of Credit are mentioned below.

Amount available as Credit

The amount of credit available for the customers under the StashFin Line of Credit can be as low as Rs. 500 up to a maximum of Rs. 5,00,000.

Tenure for Credit

The tenure of the credit is flexible and can be up on the discretion of the customer. The tenure of the line of credit can be from a period of 3 months up to a maximum of 36 months or 3 years.

Interest Rate

The rate of interest for the line of credit format is charged on the amount that is actually withdrawn from the total limit allowed to the customer. StashFin charges interest at the rate starting from 11.99% on the amount withdrawn from the total credit allowed. The final rate of interest will vary on case to case basis and will depend on the credit profile of the applicant, amount of credit sought and the tenure of the credit.

Instant Disbursal

StashFin provides instant disbursal of the credit upon approval. The customer will get the disbursal of the credit limit within 4 hours of approval when applied through the website. The disbursal is instant, i.e. within 90 seconds, in case the customer applies for the line of credit through the mobile application.

Charges for Line of Credit

The list of charges applicable for the StashFin Line of credit is tabled below.

The above charges are subject to changes based on the discretion of StashFin.

Prepayment Charges

StashFin provides the customers the benefit or prepayment of the credit taken. The company does not charge any extra prepayment charges if such prepayment is made after completion of 3 months from the date of availing the credit.

Processing Fees

Customers are assured of low processing cost through StashFin for their line of credit. StashFin does not charge any hidden or exorbitant charges for the facility of line of credit provided to its customers. The customers have to pay only a nominal processing charge for availing the line of credit of StashFin.

Other features

The other features offered by StashFin are,

• Use of StashFin Card for any other purposes like offline or online shopping, ATM withdrawal
• 10 free monthly cash withdrawals from ATM
• Instant transfer to Paytm Wallet
• Instant access to funds available 24x7