About lender
CashMart is based in Taguig, Manila, Philippines, and is part of the Nondepository Credit Intermediation Industry. CashMart has officially set itself as a legal online loan solutions provider in the Philippines. It has over 50,000 customers, which makes it one of the most reputable SEC-licensed online lending organizations in the area. It provides individuals with loan solutions like a personal loan, a salary loan, a car loan and also an OFW loan. CashMart Asia Lending Inc. is a non-depository credit intermediation company situated in Taguig, Manila, Philippines. The company was established in 1969 in Singapore and has now created various service-oriented loan solutions in the Philippines.
Pros and cons
Requesting a personal loan or any other type of loan from CashMart may be beneficial if you're suffering from financial troubles. It is, however, crucial to educate oneself on all of the upsides and downsides before you borrow money online.
Pros
- Fast approval and same day disbursement
- Competitive interest rates
- Provides a data secure service
Cons
- The company maintains the right to reject or downgrade the credit offering for any subsequent loans without providing any explanation.
- Their personal loan interest rate is among the highest in the industry.
Loan conditions
The cash loan is intended for Filipino residents aged between 21 to 50. The borrower must be employed currently, self-employed, or be an OFW/Seafarer’s Allottee. To qualify for any loan at CashMart, you must have the latest proof of billing, a company ID, current payslip, a valid government ID, driver’s license, NBI clearance, police clearance, a voter’s ID, TIN ID, UMID, Philhealth ID, firearms license, and postal ID. The applicant will also have to pay a certain amount of interest rate which depends on their credit score.
Methods of a loan funding
This lending company offers online loans that can be taken in a three-step process. The application process begins with an online application form. CashMart representatives contact the applicant within one business day after submitting the online application. After contacting the candidate by phone and email, CashMart determines their eligibility. The contract is signed, and the applicant can access their cash once the applicant's qualifications and eligibility have been verified and the terms and rates have been agreed upon.
CashMart's loan products are good for applicants who have urgent personal needs and are looking for quick loans to aid their cash crisis. The lending company allows customers to apply for credit at any time and receive money within 24 hours after completing a credit agreement. All the loans have a certain amount of interest rate, which is calculated on the basis of the loan amount and the applicant's credit score. Borrowers can also use multiple financial tools like a loan calculator for calculating interest.
