Easy Cash

What is Easy Cash?

Easy Cash is a revolving credit line, where you can withdraw money at any time with multiple installment repayment schedule.

How much money can I withdraw through Easy Cash?

The credit limit might be up to AED 1,000 depending on your credit record, repayment history and financial related behavior.

What’s the number of installments I can make for repayment?

It’s fixed term of 3 months.

How can I apply for this product?

You will need to get approval and activate it by following the flow in any entrances for this. We will review and give the result based on your combined behavior especially payment record on botim.

How do I receive the money?

You will receive the approved Easy Cash amount directly in your botim Wallet.
You can use it for botim services or withdraw it to your UAE bank account.
There is no processing fee for Easy Cash.
botim services include International Money Transfers, Gold Investment, Mobile Recharge, Bill Payments, and other in-app financial services available within botim.
A 0.3% daily interest fee applies for the duration of the loan.
An additional AED 2 fee applies when transferring funds from your botim Wallet to a UAE bank account.”

Do I need to pay any before I get the money of Easy Cash?

No, you don’t need to pay any fee before you get the money.

How to withdraw the money?

As long as there’s valid credit remained, you can always use the money (withdraw the money to botim Wallet ) by clicking “Withdraw” button in the Easy Cash homepage.

How soon will I receive the money of Easy Cash?

Once you finish the withdrawal process, you will receive the money immediately.

How is the interest calculated for Easy Cash?

“Interest is calculated on a daily basis.
** Daily interests = remaining principal * 0.15% “

“Single loan: multiples of AED 10

Periods: 3 months (fixed)

Interest:

remaining principal*0.15%*number of days used

*If overdue, interest on the principal will stop being calculated
First order interest-free period: 7 days (only for the first loan, starting from the 8th day, the interest corresponding to the order will be calculated based on the first day)

Penalty once overdue:

-Amount: AED 5 + remaining overdue principal*0.4%*corresponding overdue days

Repayment date: 5th of each month

If the loan date is <= 20th, the repayment date will be the 5th of every month starting from the next month; If the loan date is > the 20th, all repayment dates will be postponed by 1 month, that is, the 5th of every month starting from the next month.

Multiple bill processing method:  Bill consolidation (i.e. the penalty, interest, and principal of multiple due bills are added up and combined into one bill)

Minimum repayment amount: min(current bill balance, 5) “

How do I repay the money for Easy Cash?

You can check your bill anytime on the Easy Cash homepage and initiate the repayment process by accessing the bill details. Currently, we support repayment via bank cards and botim Wallet balances.

Can I repay the money in advance for Easy Cash?

Yes, you can repay the money before due date, with no early settlement fee charged.

Can I make partial repayment?

Yes. However, we strongly recommend you to repay the total amount of the bill to avoid any late repayment fee.

What if I get overdue?

“Firstly, your remaining credit of Easy Cash will be frozen until you settle all the overdue bills.
Secondly, it might affect your future valuation on other products (loan products review and even botim function utilization)
Last but not least, it will have a negative impact on your Credit Bureau record which can be checked by other institutions. “