Credit - Open Cash
A Line of Credit (LOC) is a flexible financial arrangement that allows borrowers to access a predetermined amount of funds as needed, up to a specified cred...
Thu, 24 Oct, 2024 at 3:34 PM
You can use a line of credit to cover various short-term expenses, such as managing cash flow, purchasing inventory, handling unexpected costs, or investing...
Thu, 24 Oct, 2024 at 3:35 PM
Businesses with an annual turnover of 20 lakhs or more, operate for at least 12 months in areas our service is available.
Thu, 24 Oct, 2024 at 3:35 PM
No, a business loan and a line of credit are not the same. A Business Loan provides a lump sum of money with fixed repayment terms, while a Line of Credit o...
Thu, 24 Oct, 2024 at 3:36 PM
The following are the criterias for applying for Open Cash / Line of credit: Business entity type: Sole Proprietorship Credit score above 724 Business o...
Thu, 24 Oct, 2024 at 3:37 PM
Follow the steps below to apply for Open Cash / Line of credit: Log in/Sign up to Open Money Navigate to the Credit Subsection Click “Unlock Now” under ...
Thu, 24 Oct, 2024 at 3:39 PM
Once you get the loan offer, follow the steps mentioned below: Click on Accept Sign loan agreement and E-Nach document for auto-debit setup An OTP will ...
Thu, 24 Oct, 2024 at 3:40 PM
The list of documents needed to apply for a Line of Credit are: Mandatory Documents PAN & Aadhar Latest 12 Months Bank statements (Current / Savings...
Thu, 24 Oct, 2024 at 3:41 PM
Open Cash product is a bullet payment product whereby the utilized amount needs to be repaid within 45 days.
Thu, 24 Oct, 2024 at 3:42 PM
Bullet payment is a single payment of Interest + Principal amount.
Thu, 24 Oct, 2024 at 3:43 PM