Cash Advanceπ
1. What is Cash Advance?π
Razorpay Capital Cash Advance is a self-serve short-term loan portal that gives you an unsecured line of credit. You can withdraw an amount of your choice from this line of credit as per your needs and is converted to a short-term loan.
2. How do I apply for a Line of Credit?π
To apply for a line of credit, log into your Razorpay Dashboard, navigate to Cash Advance, fill in a few details and submit your application. Know more about Line of Credits.
3. What is the interest on the Cash Advance loans?π
The interest rates start at 0.05% per day.
4. How do I make withdrawals?π
You can make withdrawals from the Dashboard at your convenience. Know more about Withdrawals.
5. Can I withdraw my entire line of credit in a single transaction?π
No. There is a limit to how much you can withdraw in a single withdrawal. This is defined by the Available Withdrawable Amount parameter. Refer to the Credit Details section for more details.
6. Is there a limit to how much I can withdraw in a single withdrawal?π
Yes. There is a limit to how much you can withdraw in a single withdrawal. This is defined by the Available Withdrawable Amount parameter. Refer to the Credit Details section for more details.
7. How often can I make withdrawals?π
You can make as many withdrawals as you wish provided:
- You have sufficient balance.
- You withdraw less than your Available Withdrawable Amount.
8. How do I repayments the money I withdrew?π
There are two types of repayments.
- Daily deductions from your settlement amount.
- Manual repayments made by you. This is in addition to the daily deductions from your settlement amount. Refer to the Make Repayments section for more details.