About CashMart

CashMart, established in 1969, has emerged as a prominent financial institution allowing Filipinos to easily borrow money online. With a steadfast commitment to flexibility and expeditious transactions, CashMart has become a leading licensed moneylender, prioritizing the needs of its clients. Over its more than four decades of operation, Cash Mart has refined its loan solutions, offering a range of services such as personal loans, salary loans, car loans, and OFW loans. Recognizing the evolving financial landscape, Cash Mart has adapted its approach, providing convenient online loans to meet the diverse needs of its clientele.

As a reputable online lending company in the Manila Region and NCR, Cash Mart prioritizes simplicity and efficiency, aiming to bridge financial gaps for Filipinos. With a client-centric philosophy, Cash Mart strives to offer flexible repayment terms and fast cash loans, ensuring a seamless experience for borrowers. Rooted in its success as a trusted loan provider in Singapore, CashMart brings over 47 years of lending expertise to the Philippines, positioning itself as a reliable financial partner for those seeking accessible and affordable loan solutions.

Key Features

1. Simple Application Process. CashMart offers a straightforward loan application process, requiring just one valid ID for initial approval. Applicants can use their UMID or Driver’s License for faster processing.

2. Flexible Loan Options. Borrowers enjoy a variety of loan solutions, including personal loans, salary loans, car loans, and OFW loans, providing options that cater to diverse financial needs.

3. Competitive Interest Rates. CashMart provides loans with interest rates as low as 0.06% to 0.8% per day, ensuring affordability and transparency in financial transactions.

4. Quick Approval and Disbursement. With a commitment to shortening the waiting time, CashMart aims to approve and disburse loans promptly, helping borrowers address urgent financial needs.

5. Higher Loan Amounts with Reloans. Clients can access higher loan amounts with each reloan, rewarding responsible borrowers with increased financial flexibility.

6. Online Loan Services. Recognizing the demand for convenient access, CashMart offers online loan services, allowing Filipinos to apply for loans with ease and convenience.

7. Secure Transactions with Bank Partners. CashMart ensures secure transactions by partnering with reputable banks, including BDO, BPI, Metrobank, and many others, for the disbursement of approved loans.

8. Mobile App for Convenience. The CashMart Mobile App, available on Google PlayStore, App Store, and Huawei App Gallery, facilitates a convenient and accessible way for clients to manage their loans, view payment schedules, and access important information.

Pros and Cons

Pros

Cons

Reliability

CashMart has established itself as a prominent player in the lending industry in the Philippines, offering a range of financial solutions designed to meet the diverse needs of its clientele. With a history dating back to its establishment in 1969, CashMart brings over 47 years of lending experience to the table. This extensive track record positions the company as a seasoned and knowledgeable participant in the financial sector. The commitment to simplicity, flexibility, and efficiency in the loan application process reflects CashMart's dedication to providing a reliable and accessible service for Filipinos seeking financial assistance.

The transparency demonstrated by CashMart in its terms and conditions, coupled with competitive interest rates, contributes to the perception of reliability among borrowers. Additionally, the company's strategic partnerships with reputable banks for secure transactions further enhance its credibility. While, like any financial institution, CashMart has both pros and cons, its long-standing presence, commitment to customer-centric values, and efforts to adapt to the evolving financial landscape collectively contribute to the perception of reliability for individuals considering its services. As with any financial decision, potential borrowers are encouraged to conduct thorough research and consider their individual needs before engaging with CashMart.

How to Apply for a CashMart Loan?

Apply for a Loan

1. Download the Cash Mart Mobile App. To initiate the loan application process, download the Cash Mart Mobile App from the Google PlayStore, App Store, or Huawei App Gallery. The mobile app serves as a user-friendly platform for managing the loan application and accessing important information.

2. Complete the Application Form. Once the app is installed, complete the loan application form provided. Ensure that all required information is accurately filled out. The application may include personal details, employment information, and other relevant data necessary for the loan approval process.

3. Await Verification Call. After submitting the application, expect a call from friendly CashMart officers for verification purposes. During this call, additional details may be confirmed to ensure the accuracy of the provided information and to expedite the verification process.

4. Receive Loan Contract. Upon successful verification, CashMart will provide a loan contract outlining the terms and conditions of the loan. It is crucial for applicants to carefully read and understand the contract before proceeding.

5. Get Cash Deposited into Bank Account. Once the loan contract is accepted, CashMart will disburse the approved loan amount directly into the applicant's personal bank account. This step typically occurs within the same day, offering quick access to the funds for the borrower's use.

Conditions and Requirements

Conditions

1. Loan Amounts. CashMart offers loan amounts ranging from P3,000 to P150,000. Borrowers have the flexibility to choose the loan amount that suits their specific financial needs. Additionally, with each reloan, clients may access higher loan amounts, subject to approval.

2. Competitive Interest Rates. Borrowers benefit from competitive interest rates, ranging from 0.06% to 0.8% per day. The interest rate is determined based on the approved loan term, whether weekly, bi-weekly, or monthly, providing borrowers with affordability and transparency in their financial transactions.

3. Loan Repayment Terms. CashMart provides flexible repayment terms, allowing borrowers to choose a schedule that aligns with their financial capacity. Whether it's a weekly, bi-weekly, or monthly payment schedule, the aim is to offer convenience and accommodate various financial situations.

4. Online Loan Services. Recognizing the demand for digital accessibility, CashMart offers online loan services. This allows borrowers to apply for loans conveniently through the Cash Mart Mobile App, streamlining the application process and eliminating the need for physical visits.

Requirements

1. Age and Citizenship. Borrowers must be at least 21 years old and Filipino citizens currently residing in the Philippines. This eligibility criterion ensures that the loan services are accessible to a wide range of individuals within the specified age range.

2. Employment Status. CashMart accommodates individuals with different employment statuses. Whether employed, self-employed, or an OFW/Seafarer's Allottee, applicants are eligible to apply for a loan, provided they meet other requirements.

3. Valid Government ID. To qualify for any of the loans, applicants must submit a valid government ID, preferably the UMID or Driver's License. This identification requirement is a standard practice to verify the borrower's identity.

4. Proof of Employment. For employed individuals, additional documentation may be required, including the latest proof of billing, company ID, latest one-month payslip, and other relevant documents to facilitate the verification process.

5. Additional Requirements for OFW Loans. For OFW loans, specific documents such as the Overseas Employment Certificate (OEC), Seaman's Passport, and Seafarer's Employment Contract with POEA validation are necessary. Proof of relationship may also be required, depending on the borrower's relationship to the OFW.

6. Bank Account. Borrowers need to have a personal bank account for the disbursement of approved loans. This ensures secure transactions and a convenient way for borrowers to receive their funds.

Ways to Receive the Money

1. Direct Bank Deposit. Once the loan application is approved, CashMart facilitates a direct deposit of the approved loan amount into the borrower's personal bank account. This method ensures a secure and swift transfer of funds directly to the borrower's bank account, allowing for easy access and use of the loan amount.

2. Mobile Wallet Transfer. CashMart may also offer the option for borrowers to receive the loan amount through mobile wallet transfers. This can include popular mobile wallet services such as GCash or PayMaya. Mobile wallet transfers provide a digital and convenient way for borrowers to access and manage their funds using their mobile devices.

Products

1. Personal Loan. Personal loans from the company Cash Mart cater to individual financial needs. Borrowers can use these loans for various purposes, including emergencies, medical expenses, education, or other personal needs. Flexible loan amounts, competitive interest rates, and a range of repayment terms make personal loans a versatile option for borrowers.

2. Salary Loan. Salary loans are designed to provide financial assistance to employed individuals who may need additional funds before their next paycheck. Quick approval, convenient repayment terms aligned with the borrower's salary schedule, and the option to receive the loan amount directly into the borrower's bank account.

3. Car Loan. CashMart offers car loans, providing individuals with the financial means to purchase a vehicle or address car-related expenses. Competitive interest rates, flexible loan amounts, and tailored repayment terms to suit the borrower's financial capacity.

4. OFW Loan. OFW loans are specifically designed for Overseas Filipino Workers (OFWs) or Seafarer's Allottees, addressing their unique financial needs and circumstances. Dedicated documentation requirements for OFWs, competitive interest rates, and the convenience of receiving the loan amount through various channels.

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 CashMart Loan

1. Insufficient Eligibility Criteria. Applicants must meet the minimum age requirement (at least 21 years old) and be Filipino citizens currently residing in the Philippines. Failure to meet these criteria may lead to a rejection.

2. Inadequate Employment Information. For employed individuals, providing accurate and up-to-date employment information is crucial. Incomplete or inaccurate documentation, such as the latest payslip or proof of employment, may result in a rejection.

3. Verification Issues. CashMart conducts a verification process to ensure the accuracy of the information provided. Any discrepancies or incomplete verification may lead to the rejection of the loan application.

4. Failure to Meet Additional Documentation Requirements. Different loan products may have specific documentation requirements. Failure to submit the necessary documents, especially for products like OFW loans or car loans, can lead to rejection.

5. Overlapping Loans. If an applicant has existing loan obligations that may impact their capacity to repay a new loan, CashMart may reject the application to ensure responsible lending practices.

6. Bank Account Issues. CashMart disburses approved loans directly to the borrower's bank account. If an applicant does not have a valid personal bank account, it may result in the rejection of the application.

7. Inconsistent Information. Providing inconsistent or conflicting information in the application can raise concerns and lead to a rejection. It's essential for applicants to ensure all details are accurate and consistent.

8. Exceeding Loan Limits. Exceeding the maximum loan amount limits set by CashMart for a specific product may lead to a rejection.

9. Failure to Meet Specific Loan Product Criteria. Each loan product may have specific eligibility criteria. Failure to meet these criteria can result in a rejection for that particular product.

How to Repay a CashMart Loan?

Repay

1. Loan Agreement Review. Before making any payments, thoroughly review the loan agreement provided by CashMart. This document outlines the terms and conditions of the loan, including the repayment schedule, interest rates, and any applicable fees.

2. Payment Schedule Verification. Check the payment schedule to understand when each installment is due. The schedule will detail the frequency of payments, whether weekly, bi-weekly, or monthly, as well as the specific due dates.

3. Loan Repayment Channels. CashMart typically offers multiple channels for loan repayment. The available channels may include bank deposits, payment centers, online banking, and mobile wallets.

4. Bank Partners. Ensure that you are aware of CashMart's partnered banks where loan repayments can be deposited. Common partner banks include BDO, BPI, Metrobank, and others, depending on your location.

5. Loan Calculator. Calculate the exact payment amount based on the installment due. Be mindful of any additional fees, such as late payment fees, and include those in the total repayment amount.

6. Timely Payments. Make payments on or before the due date specified in the repayment schedule. Timely payments are crucial to maintaining a positive relationship with CashMart and avoiding late payment fees.

7. Record Keeping. Keep records of all payment transactions, including receipts or transaction confirmations. These records serve as proof of payment and can be helpful for reference.

8. Contact CashMart for Assistance. In case of any issues or difficulties in making repayments, promptly contact CashMart's customer service. They can provide guidance, answer queries, and offer solutions to ensure a smooth repayment process.

9. Automatic Debit Arrangements. Check with CashMart if they offer automatic debit arrangements where loan repayments are automatically deducted from your bank account. This can streamline the repayment process and reduce the risk of missed payments.

Alternatives

JuanHand

Apply for a Loan

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

Apply for a Loan

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

Apply for a Loan

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

Apply for a Loan

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

1. Ensure that the lender is registered with the Securities and Exchange Commission (SEC) of the Philippines.

2. 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.

3. 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.

4. 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.

5. 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.

6. 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 CashMart and best practices, check out some of the following resources:

• Full CashMart Account Review
• How to Apply for CashMart Loan
• How to PayOff CashMart Loan
• CashMart Reviews
• All CashMart Coupons and Promo for June 2025

Sources

• CashMart 19.12.2023