Frequently Asked Questions: Your Guide to Simplified Lending

In order to apply for a loan, you need to create a personal account. All that the online service asks you to indicate is your full name, mobile phone number, and e-mail address.

Following this, we will compute your credit score and tailor a financing program for you, which includes strategies to enhance your credit history. Your next steps involve selecting a suitable option and supplying the necessary information once you acknowledge and accept the terms of the proposed offer.

For first-time users, we offer up to 30000 PhP. However, for our returning customers, loans up to 100000 PhP are available. The repayment duration for newcomers spans from 1 day to 1 month, while for second-time borrowers, it extends to 6–12 months. Special promotions occasionally permit interest-free loans. In terms of our standard loans, the interest charged is merely 0-2% daily.

Indeed, we collaborate with over 40 partner financial institutions, encompassing a selection of highly accommodating lenders eager to assist borrowers in enhancing their credit ratings. We are prepared to offer solutions to customers with any credit background.

You could have access to your funds in just 15 minutes. Your profile undergoes an automated process, and your application is evaluated immediately. We will scour for pre-approved offers that align with your application, ensuring that in 95% of instances, your loan gets approved without rejection.

Our service operates 24/7 without any breaks or off days. We process applications instantly, irrespective of the hour they are submitted. The only factor that might delay your receipt of funds within 10-15 minutes is if the chosen loan disbursement method requires more time for processing. Hence, when the approved loan is transferred to a bank account using your account details, or when the funds are loaded onto a card number, it could take several hours or even days for the money to be available to you. It's unlikely that you'll receive your borrowed funds in your bank account on a Saturday evening, and loans issued on Sunday typically see the funds disbursed by Monday.

Borrowers have multiple options for repaying their loan: they can opt for money transfer or payment via a terminal, card payment at an ATM or through their personal account, a bank transfer utilizing the lender's payment details, or even cash payment at a physical office location. It's recommended to select the method that incurs the least commission fee and ensure a prompt transfer to the lender.

Yes, it's legal to obtain online loans in the Philippines. Online lending platforms and fintech firms operating within the nation are overseen by the Securities and Exchange Commission (SEC) and the Bangko Sentral ng Pilipinas (BSP).

For these online lenders to conduct their operations legally, they must adhere to a range of regulations and prerequisites, such as registering with the SEC, transparently disclosing all costs and fees to the borrowers, and abiding by anti-money laundering and counter-terrorism financing rules. Moreover, these lenders are obliged to ensure the transparency of pricing and full disclosure of the loan terms, fees, and charges, as well as to maintain the confidentiality and security of the personal data of their borrowers.

It's vital for potential borrowers to meticulously examine the terms and conditions associated with any online loan before agreeing to it, and to transact only with officially licensed and registered online lenders.