CashRoom 1.0.6

Application Overview
CashRoom is a financial platform designed to assist individuals requiring short-term loans. Its primary aim is to provide users with secure and dependable lending services.

Objective
The goal is to foster a healthy and mutually beneficial lending relationship between the platform and its users.

Eligibility Criteria
To apply for a loan through CashRoom, the following conditions must be met:

• Applicants must hold a valid identity card from Myanmar or Cambodia.
• Applicants must be aged between 18 and 55 years.
• Applicants must demonstrate an ability to repay the loan.

Application Process
The steps to apply for a loan include:

1. Download the CashRoom application.
2. Complete your profile with accurate personal information.
3. Submit your loan application via the app.
4. Upon approval, funds will be directly transferred to the applicant's bank account.

Loan Details
The characteristics of the loans offered are as follows:

• Loan amounts range from 20,000 to 80,000 MMK.
• Loan terms are available from 91 days up to 365 days.
• Annual Percentage Rate (APR) varies between 3% and 12%.
• A management fee of between 1% and 5% applies.

The platform imposes late fees of up to 0.1% per day, capped at a maximum of 18% of the overdue amount. Importantly, there are no hidden fees associated with the loan; penalties only apply for late payments of scheduled installments.

Example Scenario
Consider the following example for better understanding:

• If one borrows MMK 50,000 over a period of 180 days (6 months) at an APR of 10%, the interest calculates as follows:
  Interest: MMK 50,000 * (10% / 365) * 180 = MMK 2,466.
• Total repayment amount includes both principal and interest:
  Total Amount: MMK 50,000 + MMK 2,466 = MMK 52,466.
• This results in monthly repayments:
  Monthly Repayment: MMK 52,466 / 6 = MMK 8,744.

Data Security
User information is safeguarded with utmost priority. All data is encrypted and protected, ensuring that user information is not shared with any third parties.