Online Loans Pilipinas Honest Review- Hassle-free Loan Direct to GCash

When we’re financially trapped, we always seek the fastest remedy. Yes, there are many loan apps in the Philippines to apply for quick cash, but it’s challenging to find the best one.

Very high interest rates, complicated requirements, and not flexible loan terms- you would not like these, right? Don’t worry; Online Loans Pilipinas (OLP) completely understands where you’re coming from.

If you need quick cash, apply at Online Loans Pilipinas!

Unlike other loan apps that will give you a lot of stress before you can receive cash, OLP streamlined everything for your convenience.

Zero interest rate (first-time borrowers), easy requirements, flexible loan terms, hassle-free application process- these are what OLP brings to the table!

What is Online Loans Pilipinas?

Online Loans Pilipinas is a legit online lending platform in the Philippines. OLP operates under SEC Registration Number CS201726430 and Certification of Authority Number 1181.

OLP is owned by Online Loans Pilipinas Financing Inc. (formerly known as Magic World Technologies Inc.), and it started operating in the country in 2017.

What is Online Loans Pilipinas Quick Cash Loan?

Online Loans Pilipinas offers quick cash loans to Filipinos. You can apply for an OLP loan for whatever purposes you have in mind. But just a piece of advice: only apply for an online loan during emergencies, when buying medicines, or paying tuition fees. Otherwise, the habit of borrowing money online will drive you to a worse financial mishap.

First-time OLP borrowers can apply for a loan ranging from ₱1,000- ₱7,000. Of course, when you’re a starter, you’ll also be approved with a shorter loan term. Most first-time borrowers are approved for a 7-day loan.

Meanwhile, if you’re a repeat borrower and have already established a good credit record, the offer gets higher, and the loan term becomes more flexible as well.

Repeat borrowers can apply for an OLP quick cash loan of ₱8,000- ₱20,000, payable for 30 days.

But while we laid the loanable amount and term here, you can’t expect a black-and-white result. In other words, the final decision will still come from OLP. Whether or not you’ll be approved for a higher amount will depend on their evaluation.

At any rate, if you’re looking for a hassle-free loan app with easy requirements and application process, we can recommend OLP. Like you, we’re also tired of reading posts about loan apps that offer too-good-to-be-true promises. Thanks to OLP, we find realistic help in times of financial difficulties.

Is Online Loans Pilipinas Loan Safe and Legit?

Cast your doubt about the legitimacy of OLP because it’s 100% LEGIT!

OLP belongs to SEC’s roster of legitimate loan apps operating in the Philippines. It operates under SEC Registration Number CS201726430 and with Certification of Authority Number 1181.

If you want to avoid scams, don’t hesitate to contact OLP.

Online Loans Pilipinas Loanable Amount

Online Loans Pilipinas is a real lifesaver in times of financial difficulties. Just by using your device, you can apply for a loan and receive the proceeds straight to your GCash in no time.

OLP can lend you from ₱1,000- ₱20,000 with loan terms ranging from 7 days to 30 days.

Like any other loan app in the Philippines, you’ll be offered a lower amount and a shorter loan term if you’re a first-time borrower.

Usually, starters are approved with a ₱1,000 loan amount and a 7-day term. It’s not bad after all, right?

As soon as you establish a good credit history, you’ll receive higher offers and longer loan terms in your succeeding loans. In fact, some repeat borrowers are approved for loan amounts up to ₱20,000. Just keep building a good credit record, and great offers from OLP will come your way.

Online Loans Pilipinas Loan Requirements

Earlier in this post, we highlighted the HASSLE-FREE loan application process, which we witnessed first-hand after getting a loan from OLP.

Ordinary Filipinos earning meager income can avail of the loan offers from OLP. OLP’s loan application requirements are straightforward, as easy as the following:

• Filipino citizen
• 22- 70 years old
• With a valid phone number
• Can provide a copy of any of the following IDs: driver’s license, SSS, TIN, and passport
• Applicants should have a GCash or a bank account

Online Loans Pilipinas Loan Application Process

Since we already know the simple requirements OLP asks from interested borrowers, we will now discuss the process of applying for an Online Loans Pilipinas loan. Probably the more accurate term is the SUPER EASY OLP loan application process!

• OLP developed two loan application platforms- via loan app or website. If you prefer to use the loan app, download the OLP app from the Google Play Store. But we recommend you apply for a loan directly on OLP’s website.

Maybe you’re curious why we suggest prospect borrowers apply for loans on OLP’s official website. Well, the bottom line is SECURITY. Although OLP’s loan app is secure, it will still ask for some access to your device. Remember that if a third party is connected to your device, all of the information saved in your device is at risk.

But then again, the decision still lies at the borrower’s discretion. We have nothing against the OLP app because it’s a secure platform.

• When you’re on the OLP dashboard, you’ll be asked to select the loan amount that you want to borrow
• Next, you need to input your active mobile phone number
• Then, click ‘Get First Loan’
• Input your personal information, such as full name, date of birth, gender, email address, and click ‘Continue’
• Indicate your current address. Make sure it’s your current residence’s address and verifiable, and click ‘Continue’
• Put your employment details (if applicable) and the active contact number of your contact reference (relative, co-worker, close friend), and click ‘Continue’
• Upload a photo of any of the following (make sure it’s not expired):
• Driver’s License
• PhilHealth ID
• Postal ID
• SSS ID
• UMID Card
• Passport
• PhilSys/ National ID
• PRC ID
• TIN ID
• Voter’s ID
• Select your preferred disbursement platform. You can opt to receive your money in your bank account or GCash account
• You’ll receive an OTP from OLP, enter the OTP on the dashboard, and you’re done with your application. OLP will notify you shortly whether your loan application is approved or denied

Online Loans Pilipinas Loan Interest Rates

• 0% interest rate for first-time borrowers
• OLP did not disclose, on its website, the exact interest rates it imposes on repeat borrowers; however, some borrowers report that they shoulder 1% daily interest on their repeat loans

Online Loans Pilipinas Loan Fees and Charges

Processing Fee-  ₱45 (will be deducted from the approved loan proceeds)

Online Loans Pilipinas Pros and Cons

Pros

• 100% online loan service
• Loan proceeds are receivable via GCash
• Non-collateral online loan
• 1 ID requirement
• Fast loan disbursement
• Easy application process
• 24/7 application and disbursement (even holidays!)

Cons

• High-interest rate
• Small loanable amount and term (for first-time borrowers)

Takeaway

After reading everything you need to know about OLP, we hope you’re a more informed borrower now.

We did not say that OLP is a perfect online loan platform, as it has its own flaws and limitations. However, when it comes to legit, hassle-free, fast, and safe online loans, we lean 100% toward OLP!

What are you waiting for? Get your device and apply for a loan at OLP before it becomes too late!