A new loan app has come on the internet which is claiming to give loan up to Rs 1 lakh 20 thousand on bad civil. The name of this loan app is Cash box loan app.
If you want to know whether Cash box loan app is real or fake then read this post carefully. In this post I am going to review Cash box loan app, so let us know.
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About cash box loan app
Cash box is a loan app. In this app you can take loan up to Rs 1 lakh without any paper work. The interest rate of this app is 18.25% APR. In this you can take loan for maximum 365 days.
When you install this app on your phone, it asks for access to your phone’s SMS, Phone State, Location, Camera, Gallery. If you do not give access then you cannot take loan from this app.
Cash box loan App gives two types of loans. First – Line of Credit and second – Product Loan
- Line of Credit – In this, you can take a loan of Rs 6000 to Rs 36000 at a maximum interest rate of 18.25% APR for a maximum of 120 days.
Suppose you take a loan of Rs 6000 for 120 days, then your interest will be Rs 360 and you will have to pay a processing fee of Rs 100. On taking this loan, you will also have to pay GST of Rs 18, i.e. you will have to pay a total of Rs 6,478.
- Product Loan – In this, you can take a loan from Rs 1,500 to Rs 1,20,000 at a maximum interest rate of 18.25% for 91 days to 365 days.
A processing fee of Rs 80 to Rs 2,000 has to be paid on this loan. Apart from this, 18% GST also has to be paid.
Cash box loan app Real or Fake
Cash box loan app is a real app and is giving loans to people, however, one should not take loan from this app. Loan apps harass people a lot if they do not give loans.
Many people have even committed suicide due to harassment from loan apps. When you take a loan from Loan Apps, it steals all the data of your phone like contact numbers, personal photos.
Should one take loan from Cash box loan app?
Loan should not be taken from Cash box loan app or any other loan app. This type of app accesses your personal data and then uses that data to blackmail you.
Many such cases have come to light in which people, after taking loans from these fake loan apps, could not bear the harassment and committed suicide. This type of loan app demands more money after payment has been made.
If you do not pay much money then she makes dirty pictures of you and sends them to your relatives. It also steals your contact numbers and tries to defame you by sending messages to your relatives and friends.