Pesoloan - Loan Shark Review
Interest Rate 30%
Duration From 14 Days
Access Level Public
Company Name Masaganang Buhay Finance Philippines Corporation
Phone 1
Phone 2
Website or Store https://www.pesoloan.ph
Address L24 PSE Tower, One Bonifacio High St. 28th St. Cor. 5th Ave, BGC, Taguig City, Philippines
Category Mild Loan
Company Email support@pesoloan.ph
Views 103

In today's digital age, online lending has become an essential financial solution for many. Pesoloan aims to provide convenient and inclusive financial services to everyone in the Philippines. With its fast, secure, and flexible services, Pesoloan stands out as a reliable option for those in need of quick financial assistance.

Why Choose Pesoloan?

  • Licensed and Compliant: Operated by a licensed financing company, Masaganang Buhay Finance Philippines Corporation, Pesoloan is duly registered and complies with the Securities and Exchange Commission (SEC), BIR, NPC, and CIC in the Philippines.
  • No Collateral Required: Borrow money without the need for collateral, ensuring a simple and easy process with low interest rates.
  • High Credit Limit: Access high credit limits and large approved loan amounts to meet your financial needs.
  • Safe and Reliable: Pesoloan guarantees a safe and reliable borrowing experience.
  • Hassle-Free Payment: Enjoy hassle-free payment schedules with a variety of installment options.
  • High Approval Rate: Benefit from a high loan approval rate, fast and free disbursement, and friendly customer service.
  • Accessible Customer Service: Easily accessible and friendly customer service to assist you at any time.

SEC COMPANY NAME: Masaganang Buhay Finance Philippines Corporation SEC Registration NUMBER: CS201824008 CERTIFICATE OF AUTHORITY: NO.1185 Address: L24 PSE Tower, One Bonifacio High St. 28th St. Cor. 5th Ave, BGC, Taguig City, Philippines

Always study the terms and conditions and the disclosure statement before proceeding with any loan transaction.

Loan Products

Pesoloan offers a variety of online fund loan products to cater to different financial needs:

  • Loan Period: From 91 days to 180 days
  • Maximum Loan Limit: PHP1,000 to PHP100,000
  • Low Interest Rate: Maximum annual percentage rate (APR) of 31%

Example Calculation: For a loan of PHP20,000 with a term of 120 days:

  • Monthly Interest Rate: 31% / 12 = 2.58%
  • Monthly Interest: PHP20,000 * 2.58% = PHP516.00
  • Total Monthly Payment: PHP20,000 / 4 + PHP516.00 = PHP5,516.00
  • Total Interest: PHP20,000 * (31% / 365) * 120 days = PHP2,038.36
  • Total Cost of Refund: PHP20,000 + PHP2,038.36 = PHP22,038.36

Requirements

To qualify for a Pesoloan loan, applicants must meet the following criteria:

  1. Filipino citizens
  2. Aged 18-60 years old

Application Process

Follow these simple steps to apply for a loan with Pesoloan:

  1. Download the App: Get Pesoloan from the Google Play Store and install it on your mobile phone.
  2. Read the Privacy Policy: Review the privacy policy to proceed with registration.
  3. Fill Out Forms: Complete the simple forms on the app to proceed with the loan application.
  4. Choose a Loan Product: Select the loan product that best suits your needs.
  5. Approval: Get approved in seconds.
  6. Receive Funds: Receive the disbursed amount in your preferred bank or e-wallet account after approval.
  7. Repayment: Make repayments on the due date. After paying, you will have the opportunity to re-loan with a higher amount.

Contact Us

For any inquiries or assistance, you can reach out to Pesoloan through the following channels:

  • Website: https://www.pesoloan.ph
  • Email: support@pesoloan.ph
  • Address: L24 PSE Tower, One Bonifacio High St. 28th St. Cor. 5th Ave, BGC, Taguig City, Philippines

Several repayment options will be offered to you so you can choose the one that best suits your needs.

By choosing Pesoloan, you can enjoy a fast, secure, and flexible financial solution tailored to your needs. Ensure you understand the terms and conditions thoroughly before proceeding with your loan application. Ready to manage your finances intelligently? Download Pesoloan today and experience the convenience firsthand!


Expert Counsel

Loan apps like PesoLoan offer quick and convenient access to credit, often with minimal documentation and fast approval. However, they can also be notorious for high-interest rates, hidden fees, and predatory lending practices. Here’s how to navigate these apps wisely and protect your financial well-being.

How to Avoid Relying on Loan Apps

  1. Build an Emergency Fund: Save 3-6 months' worth of expenses to avoid needing quick loans in emergencies.
  2. Create a Budget: Track your expenses, prioritize needs over wants, and allocate funds wisely to manage your money better.
  3. Explore Alternative Credit Sources: Consider banks, credit unions, or peer-to-peer lending platforms with more favorable terms.
  4. Improve Your Credit Score: A good credit score can help you qualify for lower-interest loans, reducing your reliance on high-interest loan apps.
  5. Avoid Unnecessary Expenses: Cut back on discretionary spending to minimize the need for loans.

Precautions When Using Loan Apps

  1. Read Terms and Conditions: Thoroughly understand interest rates, fees, repayment terms, and penalties before borrowing.
  2. Check Lender Legitimacy: Research the lender’s reputation, licenses, and regulatory compliance to ensure they are trustworthy.
  3. Borrow Only What You Need: Avoid taking more than necessary to minimize your debt load.
  4. Set Realistic Repayment Expectations: Plan to repay on time to avoid penalties and interest charges.
  5. Monitor Your Credit Report: Regularly check your credit report to ensure loan activities are accurately reflected.

How to Repay Loans from Apps

  1. Prioritize Repayment: Always pay on time to avoid penalties and additional interest charges.
  2. Create a Repayment Plan: Break down your debt into manageable installments to make repayment easier.
  3. Use Automatic Payments: Set up automatic transfers to ensure timely payments and avoid late fees.
  4. Consider Debt Consolidation: Merge multiple debts into a single loan with a lower interest rate to simplify repayment.
  5. Communicate with Lenders: If facing financial difficulties, inform your lender to negotiate payment extensions or reductions.

What to Do in a Financial Crisis

  1. Seek Professional Help: Consult a financial advisor or credit counselor for personalized advice.
  2. Prioritize Essential Expenses: Focus on necessities like food, rent, and utilities before other expenditures.
  3. Negotiate with Creditors: Discuss payment extensions or reductions with your creditors.
  4. Explore Government Assistance: Look into programs like unemployment benefits or financial aid for additional support.
  5. Consider Debt Restructuring: Work with a credit counselor to reorganize your debt and create a manageable repayment plan.

Red Flags to Watch Out For

  1. Exorbitant Interest Rates: Beware of interest rates above 36% APR, as they are considered predatory.
  2. Hidden Fees: Look out for origination fees, late fees, or prepayment penalties that can increase your debt.
  3. Unclear Repayment Terms: Ensure you fully understand repayment schedules and amounts before borrowing.
  4. Lack of Transparency: Be cautious of lenders with unclear or misleading information about their loans.
  5. Aggressive Marketing: Be wary of lenders with pushy or deceptive marketing tactics that pressure you into borrowing.

Additional Tips

  1. Know the Regulatory Bodies: Familiarize yourself with local regulatory agencies, such as the Central Bank of the Philippines, to report suspicious lenders.
  2. Research Loan App Reviews: Check reviews from multiple sources to gauge the reputation of the lender.
  3. Invest in Financial Education: Continuously learn about personal finance and responsible borrowing to make informed decisions.

By staying informed and cautious, you can navigate loan apps like PesoLoan wisely and make better financial decisions. Protect yourself from the potential risks and ensure your financial health remains intact.




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