Pesoloan – Quick Cash Loan Online in 2020

Pesoloan review - quick cash loans 2020

Pesoloan is a full-process credit platform based on the mobile Internet. Nasa top #4 free finance app siya sa Google Playstore. Naka 1 million plus downloads na rin ‘to. Pesoloan is a mobile application that is launched in the Philippines and said to provide easy-operation, no-collateral online cash-lending service to help users solve their problems.

Solve their problem… Hmm…

A screenshot of Pesoloan app installed on an Android phone. An app from Google Playstore.

Ito yung mga times na ka mo Petsa de Peligro days. Urgent need of money. Emergency. Dala nang matinding pangangailan. Ito yung mga rason na kung ‘di sana dumating eh ‘di kakapit sa mga pera utang.

Kaso your payday is a long wait. Di naman pwede sabihin na “kita nalang tayo sa payday”. Lalo na pag pinag usapan natin ay gamot, ospital, pang-exam, pang bayad nang tubig, kuryente, pang gatas ni bunso, internet bills, pang load, grocery etc.

“Kakapagod mag trabaho. Pero, char lang. Maraming pa tayong utang bes. “

Why Pesoloan is a fast online cash loan

Product features:

No. 1: No collaterals!

Pesoloan is an online loan service application. You can borrow money from their platform without any collateral.

2. More convenient to borrow money!

It only takes 3 minutes to complete the loan application, and then your loan will be processed quickly. After your loan is processed, the funds will be transferred to you as soon as possible.

3. More flexible to loan and payment

You can choose loan term and loan amount in Pesoloan.

4. Private Policy

Pesoloan protects the privacy of all consumers and does not provide any consumer information to any party without your consent.

5. Easy operation

With these steps to follow:

  • Download Pesoloan
  • Fill in your information in our APP(We will protect your data).
  • Submit your loan application

What do you need to know in applying for Pesoloan?

It only takes a few minutes to fill in the application in the platform and the funds will be disbursed after being approved through the borrowers chosen mode of disbursement, like a bank or cash pick-up.

Indeed, Pesoloan is a mobile application for fast online cash loans

A screenshot of Pesoloan app installed on an Android phone. An app from Google Playstore.

You need to fill in your identification details, personal information, employment information, and emergency contacts.

Loan amount

The loan amount ranges from 2,000 pesos up to 20,000 pesos. The actual loan amount can be adjusted according to your demands.

Loan Terms

With a loan amount of ₱ 8,000.00 – ₱ 10,000.00.
The loan term is 91 days (the shortest, including renewal time) up to 120 days (the longest, including renewal time). With a maximum interest rate of 20%.

Comments & Reviews:

Most of the client’s reviews based on experience, the most probable loan term they get is only 14 days payable. That is on the approved amount of 2,500 pesos to 3,900 pesos. Most of the clients’ expectations are long term loans but that is not what seemed to happen.

Well, chances are, if your approved credit is ₱8,000 – ₱10,000 maybe you’ll get the 91 days to 120 days term.

Interest calculation

Example of an interest calculation:

If your loan amount is ₱ 10,000, the interest rate is 10%, and the loan is 91 days, then on the due date, the amount payable is ₱ 10,249.3 (10,000 * 10% / 365 * 91 + 10,000).

Loan Requirements

Filipino citizens are eligible to apply. With ages more than 18 years old.

You must have a valid ID. They only accept SSS/UMID /TIN ID. And there’s no need for a bank account anymore.

Charges and Fees

Another comment on this side, customer reviews say the approved amount is backed up with charges, fees and deductions. So, basically your disbursement take is the net of your approved loan amount.

For example just one of this clients complaint. Loan amount approved is ₱3,500 with 14 days term. The amount of fee deducted is ₱1,225. The amount will be received is ₱2,275.

Medyo malaki nga upfront deduction ni Pesoloan.

Loan Disbursement and Repayment

Once your loan is approved, you can get the money at any branch of MLhuillier.

Loan payment channels are thru : 7- Eleven, BDO over-the-counter payment or online banking, Eastwest over-the-counter payment or online banking.

Final thoughts..

Smooth and easy app. Good to Excellent on rating reviews. But not that so great. An online loan that only need one (1) valid ID and no need of bank account anymore. Yet, approval rate is not so easy to reach and pass. Attention on higher fees and interest rates.

Will you recommend this? Let us know.

Pesoloan download link 👉 https://play.google.com/store/apps/details?id=com.pesoloan 

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Staff Writer

This post is written by our staff writer here at PinoyMoneys.com.

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6 thoughts on “Pesoloan – Quick Cash Loan Online in 2020”

  1. I am ofw in bahrain working as Supervisor in hotel I need urgent loan for my son medication, could it be possible I pay online monthly.

    Reply
    • Hello maam, I am sorry to hear about your son’s situation, however, the first loan for online loans is of small amount lang po eh, so if you need a bigger amount for serious medical purposes, hindi po ito ang good option. Besides, very short term lang po, ang max is only 30 days. Have you tried banks?

      Reply

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