PinoyPeso online loan is a legit online loan product in the Philippines.
PinoyPeso online loan app operates under SEC Registration Number CS201909928.
This loan app offers a ₱30,000 default loan limit. But of course, the credit limit will be adjusted based on the information and credentials submitted by a borrower.
You only need one valid ID to apply for a PinoyPeso online loan. No collateral and no guarantor is required.
PinoyPeso streamlined the whole application process; thus, if you get approved, you’ll receive the money in minutes. And the best thing is that you can request that the money be deposited straight to your GCash account.
Requirement-wise and time-wise, PinoyPeso is one of the best online loan apps in the Philippines.
To learn more about PinoyPeso, we’ve written this honest review. Brace yourself as we unveil the real identity of the PinoyPeso online loan app—no holds barred!
What is PinoyPeso Online Loan?
PinoyPeso online loan is a non-collateral and unsecured online loan product in the Philippines.
To apply for a loan, just download and install the PinoyPeso app. Currently, the PinoyPeso app is only available on Google Play.
Since PinoyPeso online loan is a non-collateral type of loan, there is no need to present any asset or property to get approved with a loan. You are eligible to apply as long as you have a valid ID and a stable source of income.
What is PinoyPeso Online Loan Interest Rate?
– 0.066% daily interest rate
– 0% interest for new borrowers
PinoyPeso Online Loan Credit Limit
– Up to ₱30,000 (repeat borrowers)
– ₱500-₱1,000 (new borrowers)
What are PinoyPeso Online Loan Terms?
– Seven days (new borrowers)
– Up to 180 days (repeat borrowers)
PinoyPeso Online Loan Requirements
– Philippine resident
– At least 18 years old
– Can provide proof of income
– With a valid ID
PinoyPeso Online Loan Application Process
1. Download the app
2. Privacy Statement will appear; click ‘Agree’
3. You will see the default PinoyPeso credit limit amounting to ₱30,000 but don’t expect it will be the actual loan amount that will be approved
4. Specify the type of valid ID you will use in your application; you can use a National ID or SSS ID. Click ‘Instantly Apply’
5. Input your cellphone number
6. Input the ID Number and the following information:
– Birthday
– Gender
– First Name, Middle Name, Last Name, click Next
7. Under Work Information, input the following:
– Company Name
– Position
– Salary
– Company Phone
– Company Address, click Next
8. Provide five contact persons. The names and the contact numbers will be taken from your phone’s contact list
9. The Facial Recognition step will follow. Under this step, the borrower must upload a clear photo of the valid ID used
10. Next, PinoyPeso will display its various VIP Product options
11. The next step is about the Payment Method. In this step, you need to specify your preferred disbursement channel. You can receive the money via your GCash or bank account. Then, click ‘Confirm Loan’
12. PinoyPeso will evaluate your loan application; if approved, you will receive your money in minutes
How Long is PinoyPeso Online Loan Evaluation?
– Loan evaluation may take up to ten minutes
– Loan disbursement may take up to 15 minutes
PinoyPeso Online Loan Fees and Charges
– Service Charge depends on the loan amount and term
– No other extra fees or charges
PinoyPeso Online Loan Pros and Cons
Pros
– Quick loan disbursement via GCash or bank
– Safe online loan app
– User-friendly interface
– Non-collateral
– 0% interest for first loan
– Only one valid ID is required
Cons
– High-interest rate
– High service fee
– Needs five contact references
– Low credit limit for first-time borrowers
– Short loan term
– Hidden loan details
Takeaway
PinoyPeso is an online loan app you should avoid as much as possible. The app charges very high-interest rates and service charges.
While it’s true that PinoyPeso can quickly lend you money, the burden you have to endure afterward is beyond tolerable. That is why, if you can still borrow money from your loved ones, friends, or other people, do it. Consider applying for a PinoyPeso online loan as your last resort, and be ready for all the consequences!