About Lender
Asteria Lending Inc., a fully licensed online lending institution, stands out among the myriad of loan companies as a reliable financial partner for individuals facing monetary challenges. Specializing in providing quick and convenient financial solutions, Asteria Lending Inc. offers a diverse range of loans, with a primary focus on salary and personal loans to address the urgent financial needs of Filipinos.
The Asteria loan products are designed to be easily accessible through their user-friendly website, ensuring that clients can swiftly secure the funds they require. Whether it's a personal financial crunch or a need for additional salary support, Asteria's lending services cater to a variety of situations.
Key Features
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No Collateral. Asteria stands out by offering loans without the need for collateral. This means that individuals can access the financial support they need without having to pledge assets, providing a convenient and accessible option for those who may not have substantial assets to secure a loan.
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Several Loan Options. Asteria Lending understands that financial needs vary, and to address this diversity, the company provides a range of loan options. Whether it's a personal financial requirement, salary support, or upcoming business plans, Asteria offers tailored loan products to meet the specific needs of its clients.
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Quick Approval. Asteria Lending ensures a streamlined process with approval typically granted within 24 hours. This quick approval time adds to the convenience for borrowers who may require prompt access to funds.
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Upcoming Products. Asteria Lending has plans to expand its product offerings, including upcoming car loans and business loans. This forward-looking approach demonstrates Asteria's commitment to providing a comprehensive suite of financial solutions to cater to a diverse range of client needs.
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Confusing Information. Some borrowers have reported confusion regarding loan conditions, with variations between the conditions presented during the application process and those on the official website. Clarity in communication is crucial for a positive borrowing experience.
Pros and Cons
Pros
Cons
Reliability
Asteria Lending Inc. can be considered a reliable lending institution based on its legal standing and compliance with regulatory standards. The company operates within the legal framework and is registered with the Securities and Exchange Commission (SEC). The possession of a registration number (CS201603853) and Certificate of Authority number (1813) adds a layer of credibility to Asteria Lending Inc.'s operations.
How to Apply for an Asteria Lending Loan?
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Access the Website. Begin by visiting the official Asteria Lending Inc. website.
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Explore Loan Products. Navigate to the "Loan Products" section on the website. Here, you can browse and select the specific type of loan that suits your financial requirements. Pay close attention to loan terms, mentioned on the page.
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Initiate Application. Once you've chosen the desired loan product, locate the "Apply Now" button on the respective page and click on it to start the application process.
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Complete Application Form. You will be directed to the application page. Fill in the necessary details in the provided form. Additionally, upload any required documents as outlined in the application process. If you currently lack certain documents, you have the option to save your progress. However, for the final submission, you'll need to log in again to attach the required documents and complete the application.
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Monitor Application Progress. After submitting your application, await notification from Asteria Lending Inc. regarding the status of your loan approval. To stay informed, you can also log in to your account on the website to track the progress of your application.
Conditions and Requirements
Conditions
https://www.asteria.com.ph/faq#what-are-the-interest-rate
https://asteria.com.ph/landing/
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Loan Amounts. For first-time customers, the minimum personal loan amount is PHP 2,000, and the maximum is PHP 10,000. For reloan, the minimum loan amount remains PHP 2,000, with a maximum that can go up to PHP 50,000.
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Loan Terms. Asteria Lending offers flexibility in loan terms. Borrowers can choose from terms of 30 days up to 120 days, providing options that align with individual preferences and financial circumstances.
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Interest Rate. The interest rate for Asteria Lending loans is fixed at 0.2% per day. This rate remains consistent throughout the chosen loan term.
Note that the information provided is based on the conditions available on the official website. However, there may be additional conditions or information presented after selecting a specific loan product. Therefore, borrowers are advised to thoroughly review all conditions and terms during the application process to ensure a clear understanding of the loan agreement.
Requirements
https://asteria.com.ph/landing/
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Citizenship and Residency. Applicant must be a Filipino citizen currently residing and working within the country in Metro Manila, Pampanga, Batangas, Bicol, Quezon Province, or other nearby cities.
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Minimum Salary Requirement. A minimum gross monthly salary of PHP 10,000 is required.
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Age Criteria. The applicant's age must be no less than 21 years at the time of application. The age should not exceed 60 years at the time of completing the loan.
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Valid Identification. Applicants must possess one of the following valid identification documents: UMID, New TIN ID, New PhilHealth ID, or a Driver's License.
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Bank Account. A crucial requirement is that the applicant must have a bank account under their name. This bank account is necessary for the disbursement of the loan amount.
Ways to Receive the Money
After loan approval, Asteria Lending ensures the prompt transfer of the approved funds to your bank account through Instapay. This efficient and secure method allows for the swift disbursement of the required amount directly to your designated bank account. The use of Instapay enables Asteria to provide a seamless and convenient experience for borrowers, ensuring that the financial assistance you need is readily available in your bank account shortly after loan approval.
Products
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Personal Loans. Asteria provides personal loans to individuals, offering financial support for various personal expenses.
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Salary Loans. Salary loans cater to individuals facing financial challenges related to their monthly income, providing a solution for short-term financial needs.
It's noteworthy that Asteria Lending Inc. has plans to expand its product offerings in the near future. Soon, customers can anticipate the availability of the following products:
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Business Loans. Asteria is gearing up to introduce business loans, aimed at supporting entrepreneurs and businesses with their financial requirements.
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Car Loans. Asteria Lending is also set to offer car loans, providing customers with the financial means to address expenses related to their vehicles.
Other Loans
- Online Loans. Quick Financial Solutions
- Personal Loans. Discover Your Ideal Financial Partner in the Philippines
- Cash Loans. Your Choices for Immediate Funds
- Quick Loans. Explore Rapid Financial Solutions
- Fast Approval Loans in the Philippines. Streamlined Financial Assistance
Reasons for Getting Rejected for a Loan
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Insufficient Income. If the lender determines that your income is not sufficient to cover the loan amount and meet their criteria for repayment, your application may be rejected.
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Incomplete or Inaccurate Information. Providing incomplete or inaccurate information on your loan application can lead to rejection. It's crucial to ensure all details are accurate and documentation is complete.
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Employment History. An unstable employment history or frequent job changes may raise concerns for lenders, affecting your loan approval.
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Existing Loan Obligations. If you already have significant outstanding loans, lenders may view you as a higher risk, leading to rejection.
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Recent Credit Applications. Multiple recent credit applications can be seen as a sign of financial distress and may negatively impact your credit score, leading to rejection.
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Legal Issues. Legal issues such as pending lawsuits, judgments, or liens can affect your creditworthiness and result in loan rejection.
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Age and Eligibility Criteria. Some lenders may have age restrictions or specific eligibility criteria. Failing to meet these requirements can lead to rejection.
How to Repay an Asteria Lending Loan?
Following the successful disbursement of your loan, Asteria Lending will send you detailed Repayment Instructions via Email. This email will contain essential information, including when the repayment is due, how to make the payment, where to make the payment, and the specific amount to be paid:
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Dragon Pay Payment Facilities. Asteria Lending utilizes Dragon Pay Payment facilities for loan repayments. These facilities are widely accessible, with locations including every 7 Eleven, Cebuana, LBC, SM Payment Centers, Robinson Payment Centers, and Bayad Centers.
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Available Payment Centers. You can choose from a variety of convenient payment centers to settle your loan repayment. These centers are strategically located to provide accessibility to borrowers.
Alternatives
JuanHand
JuanHand offers online loans in the Philippines, providing individuals with access to up to ₱15,000 for a repayment period of up to 3 months. The lending platform stands out with competitive interest rates ranging from 9% to 12%. With a focus on simplicity and convenience, JuanHand aims to meet the short-term financial needs of borrowers through a streamlined application process and timely disbursement of funds.
Cashalo
Cashalo is a prominent player in the online lending landscape in the Philippines, offering loan amounts ranging from ₱1,000 to ₱7,000 with repayment terms extending up to 90 days. Known for its accessibility, Cashalo provides borrowers with a starting interest rate of 3.95%. The platform's commitment to financial inclusion is evident in its user-friendly app, quick approval processes, and the flexibility it provides to individuals seeking smaller loan amounts for various purposes.
SB Finance
SB Finance stands as a significant financial institution in the Philippines, providing substantial loan amounts ranging from ₱30,000 to ₱2 million. With flexible repayment periods spanning 2 to 48 months, borrowers can tailor their loan terms to fit their financial goals. SB Finance boasts competitive interest rates, starting at 1.2% and going up to 3.5%. This lending institution combines the strength of its parent company with a commitment to offering diverse loan products to meet the evolving needs of Filipino borrowers.
Online Loans Pilipinas
Online Loans Pilipinas caters to a range of borrowing needs with initial loan amounts of ₱1,000 to ₱7,000 for first-time borrowers. Repeat borrowers can access higher loan amounts, reaching up to ₱30,000. This lending platform emphasizes a quick turnaround, with loan terms starting at 10 days. Notably, Online Loans Pilipinas distinguishes itself by not imposing any processing fees for first-time borrowers, providing an incentive for those exploring online lending options for the first time.
Editorial Opinion
Important
How to Choose a Lender in the Philippines
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Ensure that the lender is registered with the Securities and Exchange Commission (SEC) of the Philippines.
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Investigate if the lender is a member of recognized industry associations in the Philippines, such as the Chamber of Thrift Banks or the Philippines Finance Association.
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Carefully examine all terms and conditions of your loan contract. This includes understanding the repayment schedule, fees, and any penalties for late or missed payments.
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Payday loans can have high-interest rates. Make sure the contract clearly outlines the interest rate and total cost of the loan, including any processing fees or additional charges.
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Familiarize yourself with your rights regarding cancellation. In the Philippines, consumers may have the right to rescind the loan within a specific period after signing the agreement.
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Research the lender's reputation through customer reviews, complaints, and feedback available online.
Methodology
At Finanso, we've carried out a comprehensive analysis of over 50 lenders, assessing them based on 35 different parameters across six key categories: accessibility of loans, customer relations, quality of service, interest rates, and transparency of conditions.
We carefully considered the most critical factors in selecting a lender in each category. These factors include interest rates, available loan amounts, minimum credit score, minimum income, application fees, and the speed at which funds are transferred.
At Finanso, we highly value our users, which is why we also focus on the quality of customer service, user reviews, and additional features that can aid our users in making a well-informed decision.
Our ultimate goal is to provide insightful recommendations and expert advice to assist you in selecting a lender that best caters to your specific needs.
Additional resources
To learn more about Asteria Lending and best practices, check out some of the following resources:
- Full Asteria Account Review
- How to Apply for Asteria Loan
- How to PayOff Asteria Loan
- Asteria Reviews
- All Asteria Coupons and Promo for January 2025
Sources
- Asteria 19.12.2023
