CASHe offers short-term loans to millennals instantly.
Think of situation where you need a large chunk of cash as a deposit for hospitalisation of your near and dear once. What if you are unable to manage it at the crucial time? Gopal Narulkar, 26, a banking professional experienced the similar trauma. Narulkar’s father had to be hospitalised urgently at midnight and the deposit amount which the hospital demanded was not manageable for him at that moment.
This is a textbook millennial situation where modest income at the start of the career or/and perils of lavish spending make the expenditure for last 10 days of the month difficult. Any unseen monetary compulsion in this period can have an impact on the balance sheet for several months ahead. Borrowing from bank is not an option due to the time it takes for processing of the loans. This coupled with meagre credit history reduces the probability of sanctioning of loans. The escape route is to this is borrowing from the acquaintance during emergency situations. But most millennials with the principle of financial independence are not comfortable with borrowing from friends or relatives.
Denne historien er fra August 2018-utgaven av Outlook Money.
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Denne historien er fra August 2018-utgaven av Outlook Money.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
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