In today’s digital age, online loan apps have become quite popular due to their convenience and easy access to funds. CashWise App is one such online loan app that claims to provide loans at low-interest rates. However, the question that arises is whether CashWise App is real or fake. In this article, we will review CashWise App to find out whether it is a legit online loan app or a scam.
| Category | Review |
|---|---|
| App Name | CashWise: Easy Online Loan |
| Status | Doubtful |
| Category | Finance |
| Developer | Akara Capital Advisors Private Limited |
| Contact | contact.us@cobornsinc.com |
| CashWise App Real or Fake | Fake |
| Is CashWise App Safe? | No, it is not safe due to various red flags like lack of licensing and certifications, no active social media accounts, and bad reviews. |
| Features | No tie-up information with the Non-Banking Financial Company (NBFC), lack of proper terms and conditions, no requirement for CIBIL score, and no Grievance Officer details. |
| Reviews | Negative reviews on the Google Play Store. |
What is CashWise App?
CashWise App is an online loan app that claims to provide loans to anyone easily and quickly. The app is available for download on the Google Play Store and is developed by Akara Capital Advisors Private Limited. The app falls under the finance category and has an email contact address provided for any queries or concerns.
CashWise App Review: Legit or Fake?
After analyzing CashWise App, we have concluded that it is doubtful and may not be a legit online loan app. There are several reasons for this conclusion, including:
- Online presence not available: If the loan app is genuine, it will always be available online with an interface that makes applying for loans easier and quicker. However, in the case of the CashWise App, there is no online presence available.
- Loan Application NBFC company tie-up information not available: The tie-up information with the Non-Banking Financial Company (NBFC) providing the loan is not available on the app.
- Lack of licensing or certifications of loan app: The app does not have any certifications or licenses that prove its authenticity.
- Proper terms and conditions not available: The terms and conditions of the loan app are not properly mentioned, which is a red flag.
- CIBIL Score is not mandatory: A good credit score is an essential factor in getting a loan. However, CashWise App does not require a CIBIL score, which is suspicious.
- Bad reviews: The app has many bad reviews on the Google Play Store, which raises doubts about its authenticity.
- No information about the founder: There is no information available about the founder of the CashWise App.
- Registration details not found: The registration details of the app are not found, which is not a good sign.
- Grievance Officer address and Name not available: The app does not have a Grievance Officer’s name and address, which is mandatory as per RBI guidelines.
- No active social media accounts: The app does not have any active social media accounts, which raises suspicions.
Is CashWise App safe?
No, CashWise App is not safe to use due to the above-mentioned reasons. It is not recommended to use this app for taking loans online.
Conclusion
In conclusion, after reviewing CashWise App, we can say that it is doubtful and may not be a legit online loan app. There are several red flags, including the lack of proper licensing, certifications, and Grievance Officer details. Moreover, bad reviews and no active social media accounts further raise doubts about its authenticity. Therefore, it is recommended to stay away from CashWise App and look for other authentic loan apps.