Early cash  - Loan Shark Review
Interest Rate 35%
Duration From 7 days
Access Level Public
Company Name Early cash
Phone 1 +234 906 958 2263
Phone 2
Website or Store chrome
Address
Category Dangerous Loan
Company Email
Views 118

EarlyCash is a user-friendly application designed to assist individuals seeking financial help. Whether you need funds for an emergency, unexpected expenses, or other financial obligations, EarlyCash simplifies the process of obtaining a loan.

How EarlyCash Works

Requesting a loan through EarlyCash is straightforward and efficient. Here’s how the process works:

Fill Out the Application: Start by completing a simple online form on the EarlyCash app. This form captures essential information needed to process your loan request.

Loan Inquiry Submission: Once you submit the form, your inquiry is sent to a vast network of lenders partnered with EarlyCash. This extensive network increases your chances of finding a lender that suits your needs.

Loan Amounts: EarlyCash offers loan amounts ranging from ₹20,000 to ₹80,000. The exact amount you can borrow may vary based on the lender's programs and your state of residence.

Quick Responses: You can expect to receive a response from one of our lenders the same day you submit your inquiry. In many cases, responses can arrive within just a few minutes.

Review Loan Terms: Upon loan approval, you will be redirected to the lender's website, where you can carefully review the loan terms. This includes details about interest rates, fees, and other applicable costs.

Funds Disbursement: If you agree to the terms, the lender will deposit the approved loan amount directly into your bank account, often by the next business day.

Material Disclosure

Repayment Terms: The minimum repayment period for loans is 90 days, while the maximum repayment period can extend up to 3 years. This flexibility allows borrowers to choose a repayment schedule that aligns with their financial situation.

Annual Percentage Rate (APR):

  • For qualified consumers, lenders associated with EarlyCash offer loans with an APR starting as low as 9.6%.
  • The maximum APR, which includes interest rates, fees, and other costs, can go up to 19.2%. It’s important to note that all loans are subject to the lender's approval based on their unique underwriting criteria.

Representative Example of Loan Costs

To give you a clearer understanding of the potential costs involved with borrowing through EarlyCash, here’s a representative example for a loan amount of ₹10,000:

Loan Duration: 9 Months

  • Total Interest: ₹10,000 * 7.2% = ₹720

Loan Duration: 12 Months

  • Total Interest: ₹10,000 * 9.6% = ₹960

Loan Duration: 18 Months

  • Total Interest: ₹10,000 * 14.4% = ₹1,440

Loan Duration: 24 Months

  • Total Interest: ₹10,000 * 19.2% = ₹1,920

This example illustrates how the duration of the loan impacts the total interest paid, helping you make informed decisions about your borrowing options.


Expert Counsel

1. They will send SMS messages to your contacts, claiming that you owe them money.

2. Prepare yourself for an onslaught of unpleasant WhatsApp messages if you are even a day late.

3. Their repayment schedules typically range from 6 to 14 days, making it extremely challenging to settle your debts.

4. Anticipate daily overdue interest rates ranging from 5% to 7%, pushing you further into debt.

5. Once they tarnish your reputation, there is no need to repay them. They have already achieved their goal.

6. Since they lack a license, they are unable to pursue legal action against you. Their sole tactic is to damage your reputation.

7. Avoid borrowing from other loan apps to clear your debts; this will only worsen your situation.

8. Utilize Truecaller to screen and block their calls, sparing yourself unnecessary stress.

9. The most effective way to break free from loan sharks is to cease borrowing altogether.

10. Block them on WhatsApp and report them directly to WhatsApp and Google Play Store to prevent others from falling victim to the same scheme.




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