Cash Wallet Loan App Review 2024: Real or Fake

Friends, we all need loans from time to time. However, these days, instead of going to the bank, people get loans using applications that are available on the Play Store.

Because applying for a loan from a bank can be difficult at times, instead many people use these loan apps.

Friends, it’s not always simple to take out a loan from these apps because you never know what’s going on behind them. There are some apps like this on the Play Store that can scam you and get you into difficulties.

Techy Loan is a trusted platform that gives you well-researched reviews of websites and apps.

In today’s post, I will give you a review of the Cash Wallet Loan App Review, Is this application real or not, is it okay to take a loan from this app or not, you will know through this post.

What is the Cash Wallet Loan App?

Friends, Cash Wallet is a loan-giving platform this application was launched in the year 2023 and now it has more than 50000 downloads, that too in just one month.

According to this application, you may easily receive a loan between ₹5,000 and ₹ ₹500,000 without any collateral.

Application Claims

• 100% digitalization
• No hidden costs
• No collateral required
• Affordable interest rates
• Engage in credit limits 

According to this application, Savantika Vanijya Pvt. Ltd. is the NBFC partner of this application, which claims to be an RBI-approved NBFC company. Is it an RBI-approved NFC company or not? I have told in the article, you read the article completely.

Cash Wallet App Details

Application Name	Cash Wallet
Who launched	OPPOFAST PRIVATE LIMITED
Loan Amount	₹5000 rs to ₹5 Lakh
Interest Rate	20% P/a
Service fee	1% of Loan Amount
Loan Tenure	120 to 730 days
Launched Year	2023 [ December ]
Application size	3 MB approx
Total downloads	50k Install
Rating on Play Store	3.4 [ 138 Reviews ]
Real or Fake	Fake & Not Safe
Website	newcashwallet.com
NBFC Registered	Read Full
RBI Approved	Read Full

How to Apply Cash Wallet Loan?

Friends, you have to follow the instructions provided by us to apply for a loan through the Cash Wallet Loan Application.

• You must first download the Cash Wallet application from the Play Store.
• You will then need to register your mobile number or email ID.
• To finish your KYC, documents must be uploaded.
• Waiting for your document’s quick review.
• Within 24 to 48 hours of receiving the loan approval, the money will be deposited into your account.

Cash Wallet Loan App Eligibility

Friends, to take a loan from the Cash Wallet application, you will have to follow these eligibility criteria.

Minimum age	20 Years
Maximum age	55 years
Nationality	Indian
Cibil Score	600 above
Bank	Must Active Bank Account
Employment	Job, Business

Cash Wallet Loan Required Documents

You need all of these documents to apply for a loan through the Cash Wallet Loan Application.

• Aadhar Card
• Pan Card
• Selfie
• Email Id
• Mobile Number
• Bank Account Details

Example of Cash Wallet loan repayment

Cash Wallet Loan App claims it will provide you with a loan at the lowest interest rate [ 20% Pa ] without any collateral. It also claims that its repayment period is longer than other applications which is 120 to 730 days.

But the reality is that this application gives you a loan only for 7 days and within these 7 days you have to pay 40% to 50% more interest on this loan which is more than the loan amount.

Let’s See an Example: Friends, suppose you have taken a loan of ₹ 5000 from a Cash Wallet loan application. Cash Wallet claims that it will be charged to you after one month according to your loan period But in Reality,

You will have to repay this loan within 7 days, along with this you will have to pay two to three times more interest, which means 7000 to ₹ 8000, and you will have to pay interest on a ₹ 5000 Loan.

Pros & Cons of Cash Wallet Loan App

Before applying for a loan in Cash Wallet Loan Application, you should know the Pros and Cons given by us.

Cash Wallet App Real or Fake

Cash Wallet is a fake application, it can cheat you and also threaten you. I am not saying this just like that, I have proof I will show you in this post.

After Downloading the Cash Wallet Loan app through Playstore or Google they ask to enable all options like Camera, Contact, Media, Location, All Email address, and device information.

If you are enabling all these options then you should understand that scams and fraud can happen to you, they can use your data to blackmail you.

Additionally, If is loan application is accepted, company staff may ask you for an advance payment; if you decline, they may put ₹2,000 to ₹3,000 into your account without notifying you.

Friends, all these details show that this app is completely fake and a scam. Therefore my opinion is that you should not take a loan from this application.

Is Cash Wallet App Safe or Not?

Friends, according to the Cash Wallet Loan App claims that it gives you loans ranging from Rs. 5,000 to Rs. 5L without any collateral and with fewer documents like Aadhar cards or PAN cards.

But In reality, Cash Wallet is a fake application because this application is not registered with the NBFC or the RBI all shown in the app’s description is fake.

And when we checked his mail, his mail was found on Gmail. Big companies’ mail is professional but their mail is not professional.

Also, Friends, we came on their website, but nothing helpful has been provided there. They have created a basic webpage that you may create simply by viewing YouTube videos.

Conclusion

Cash Wallet Loan App Review: Friends, if you have read this post till now then you must have understood that the Cash Wallet Loan App is a fake application.

Through this app, you can easily take a loan and they also add money to your account without your permission when the time of repayment comes, it can also put you in trouble.

It is up to you whether you want to take a loan from this app or not, but friends, if you liked this post then please share it with your, Friends, please leave a comment if you see any mistakes in the article.