Lender
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

3.9

DIGIDO Review

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About Digido

Digido Finance Corp is a reputable online loan company offering non-collateral cash loan services. As a legitimate and state-licensed lender, Digido boasts a fully automated online portal, offering a seamless and efficient loan application process. The company's commitment to transparency is evident in its adherence to lending regulations, ensuring fair practices without hidden charges or inflated interest rates, particularly for those with a less-than-perfect credit history. Digido caters to a wide range of financial needs, providing online loans from 0% interest promotional offers to non-collateral loans.

Setting itself apart in the lending industry, Digido prioritizes accessibility, welcoming applicants without the necessity of a bank account. The company's diverse repayment options, including bank transfers, remittance centers, 7-Eleven, offline branches, and Dragonpay, further demonstrate its dedication to accommodating the unique needs of its clientele. With a loan approval rate exceeding 90%, Digido ensures a quick and hassle-free borrowing experience for Filipinos seeking financial support.

Digido

Key Features

  1. Automated Application Process. Digido streamlines the loan application process with its fully automated online portal, providing a user-friendly and efficient experience.

  2. Wide Range of Loan Purposes. Loans are available for various purposes, such as emergency loans and OFW loans, allowing borrowers flexibility in meeting their financial needs.

  3. No Collateral Required. Digido distinguishes itself by providing non-collateral loans, offering financial solutions without the need for security.

  4. Online Loan Calculator. The online loan calculator empowers applicants to make informed decisions by estimating repayment amounts based on loan amount and duration.

  5. Branch Network. In addition to the online platform, Digido's large branch network in the Philippines provides offline options for those preferring in-person interactions.

  6. Transparent Interest Rates. Digido maintains a commitment to fair lending practices, clearly stating interest rates, which do not exceed 1.5% per day for regular customers. First-time borrowers enjoy promotional offers, such as 0% interest on the initial loan for seven days, providing a favorable start for new customers.

  7. Loan Accessibility for Unbanked Individuals. Digido caters to applicants without bank accounts, enhancing financial inclusion for a broader segment of the population.

  8. Secured and Legitimate Operations. Digido stands amoung fully licensed online lenders, registered under the SEC with Registration No.: 202003056 and Certificate of Authority No. 1272, ensuring compliance with regulatory standards. Any client can check this information on the state website in the list of financial companies.

Pros and Cons

Pros

Accessibility. Any Filipino citizen aged 21-70 with a working mobile connection can apply for an instant loan, promoting accessibility to a broader demographic.

Efficient Loan Service. The fully automated online portal streamlines the application process, making it quick and user-friendly.

Benefits for Repeat Borrowers. Customers who return for additional loans enjoy better terms, fostering customer loyalty.

Cons

Not Clear Loan Amounts. Information on the Digido website is not quite easy to grasp in terms of the minimum and maximum loan amounts, which may be confusing to potential borrowers.

Online Dependency. While Digido offers an extensive online platform, some individuals may prefer traditional in-person interactions, which may be limited.

Loan Duration. The loan duration options may not align with the specific needs or preferences of all borrowers.

Reliability

Digido Finance Corp exhibits a level of reliability in its operations as an online lending institution. The company's state license and registration with the Securities and Exchange Commission (SEC) underscore its commitment to adhering to legal and regulatory standards. This formal recognition provides borrowers with a sense of security, knowing that Digido operates within established frameworks and complies with industry guidelines.

The fully automated online portal ensures a streamlined application process, reducing the likelihood of human errors. However, as with any financial institution, borrowers are encouraged to carefully review the terms and conditions to make informed decisions based on their individual financial circumstances.

How to Apply for a Digido Loan?

Apply for a Loan

  1. Online Registration. Visit the official Digido Finance Corporation website. Click on the "Apply Now" button to initiate the application process. Create a personal account by providing your mobile number. If you're eligibile for reloan, sign in your existing account.

  2. Account Creation. Complete the registration form with your personal details. This typically involves entering your full name, address, and other relevant information. Ensure accuracy in providing the required information to expedite the processing of your application.

  3. Employment Details. Enter your personal details as part of the application process. This may include information such as your job position, company details, and monthly income. Submission of additional documents, such as payslips, COE, ITR, and company ID, can enhance your chances of loan approval.

  4. Loan Application. Once your account is created and personal and all the needed details are submitted, proceed to the loan application section. Specify the desired loan amount and loan duration based on your financial needs.

  5. Verification and Approval. Wait for the system to process your application. This may take up to 24 hours. You will receive notification of the application status via email or SMS. If approved, you'll receive details on the loan terms.

  6. Getting Money. If approved, the loan amount will be transferred directly to your specified bank account. Access the funds either through your bank or an ATM, providing a convenient and secure method for obtaining the approved loan amount.

Conditions and Requirements

Conditions

  1. Interest Rates. For new customers taking their first loan, Digido offers a 0% interest rate for a specified period. Regular customers can benefit from competitive interest rates that do not exceed 1.5% per day.

  2. Loan Duration. Borrowers can choose flexible repayment terms, with loan durations typically ranging from 3 to 6 months for standard loans online.

  3. Repeat Borrower Benefits. Digido encourages customer loyalty by offering improved loan terms for individuals with repeated loans, making subsequent borrowing more advantageous.

  4. Promotional Offers. First-time borrowers may enjoy promotional offers, such as a 0% interest rate on the initial loan for a limited period, providing a favorable start for new customers.

  5. Payment Options. Digido provides various convenient payment options, including bank transfer, remittance center, 7-Eleven, offline branches, and Dragonpay, offering flexibility for borrowers in managing repayments.

Requirements

  1. Filipino Citizenship. Applicants must be Filipino citizens to qualify for a Digido loan.

  2. Age Criteria. Individuals within the age group of 21 to 70 years are eligible to apply for a Digido loan.

  3. Valid Mobile Connection. A working mobile connection is a prerequisite for loan application, ensuring communication throughout the application process.

  4. Government-Issued ID. Applicants are required to submit a valid government-issued identification card as part of the verification process.

  5. Employment Details. Providing accurate employment details, including job position, company information, and monthly income, is essential for the application process.

  6. Additional Documents. While not mandatory, including supporting documents such as payslips, Certificate of Employment (COE), Income Tax Return (ITR), and company ID can enhance the likelihood of loan approval.

  7. Bank Account. Applicants need to have a valid bank account in their name to receive the approved loan amount.

Ways to Receive the Money

The most common method is a direct bank transfer. Once the loan is approved, the funds are electronically transferred to the borrower's specified bank account.

Products

  1. Personal Loans. Digido offers personal loans to individuals for various purposes, providing financial assistance to cover expenses such as medical bills, education, home improvements, or other personal needs.

  2. Short-Term Loans. Short-term loans cater to individuals in need of quick financial assistance for a brief period. These loans typically have a shorter repayment term, providing a solution for immediate financial needs.

  3. Promotional Loans. Digido provides promotional loans with special offers for first-time borrowers, such as a 0% interest rate for a specified period. These promotional terms aim to attract and benefit new customers.

  4. Emergency Loans. Designed to address urgent financial requirements, Digido's emergency loans offer a quick and accessible solution for unexpected expenses.

  5. Salary Loans. Digido offers salary loans, providing individuals with access to funds based on their regular income. This can be a convenient option for those facing short-term financial challenges.

  6. Zero Interest Loans. Digido provides promotional offers, including zero interest on the first loan for a specified duration, offering an advantageous option for new customers.

  7. Online Loan Calculator. While not a traditional loan product, Digido's online loan calculator is a tool that helps borrowers estimate repayment amounts based on different loan amounts and durations.

Other Loans

Reasons for Getting Rejected for a Digido Loan

  1. Incomplete or Inaccurate Information. Providing inaccurate or incomplete details during the application process can lead to rejection. It's crucial to ensure that all information, including personal details and employment information, is accurate and up-to-date.

  2. Insufficient Eligibility Criteria. Failure to meet the basic eligibility criteria, such as age requirements (21 to 70 years old), Filipino citizenship, and having a working mobile connection, can result in a loan rejection.

  3. Unverified Employment Details. Digido often requires employment details as part of the application process. If the provided information is unverifiable or inconsistent, it may lead to rejection.

  4. Inadequate Documentation. While not mandatory, submitting additional documents, such as payslips, COE, ITR, and company ID, can strengthen an application. Failure to provide requested documentation or inadequate documentation may lead to rejection.

  5. Negative Credit History. While Digido is known for considering applications without a perfect credit history, severe credit issues may still impact the approval process. Instances of bankruptcy, outstanding loans, or defaults on previous loans can lead to rejection.

How to Repay a Digido Loan?

Repay

  1. Loan Agreement Terms. Before proceeding with the repayment, borrowers should review the terms and conditions of their loan agreement. This includes understanding the repayment schedule, interest rates, and any other relevant details.

  2. Choose a Repayment Method. Digido offers multiple repayment methods to cater to the convenience of borrowers. Common repayment methods include bank transfer, remittance center, 7-Eleven, offline branches, and Dragonpay. Choose the method that aligns with your preferences and accessibility.

  3. Check Repayment Due Date. Be aware of the due date for your loan repayment. This information is typically provided in the loan agreement. Timely repayment helps avoid late fees and ensures a positive borrowing experience.

  4. Online Repayment. If you opted for online repayment methods such as bank transfer or Dragonpay, initiate the payment through the designated channels. Ensure that you use the correct details provided by Digido to avoid any payment issues.

  5. Offline Repayment. For borrowers who prefer offline options, such as 7-Eleven or Digido's offline branches, visit the chosen location and follow the provided instructions for making the repayment. Provide the necessary details to complete the transaction.

  6. Monitor Payment Confirmation. After making the repayment, monitor your account for any payment confirmation or acknowledgment from Digido. This helps ensure that the payment has been successfully received and credited to your loan account.

  7. Consider Auto-Debit Arrangements. If applicable and convenient, borrowers can explore setting up auto-debit arrangements. This ensures that loan repayments are automatically deducted from the borrower's bank account on the scheduled due date, reducing the risk of late payments.

  8. Contact Customer Support. In case of any issues or concerns regarding the repayment process, borrowers can reach out to Digido's customer support. They can provide guidance, address queries, or assist with any challenges related to loan repayment.

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.

JuanHand

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.

Cashalo

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.

SB Finance

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.

Online Loans Pilipinas

Editorial Opinion

Digido Finance Corp presents itself as a digital lending institution with a variety of loan products catering to the financial needs of individuals in the Philippines. The company's emphasis on a user-friendly online platform, competitive interest rates, and promotional offers for first-time borrowers contribute to its appeal. While the fully automated loan processing system and multiple repayment options aim to enhance customer convenience, individuals considering Digido for their financial needs should carefully review terms and conditions, eligibility criteria, and repayment obligations. As with any lending institution, it is advisable for potential borrowers to exercise diligence and ensure that the loan terms align with their financial circumstances and requirements.

Important

Keeping your Debt-to-Income (DTI) ratio below 30-40% of your monthly income is crucial. This will help you avoid potential financial problems in the future. Additionally, always assess the necessity and feasibility of taking a loan, ensuring you can comfortably manage its repayment.

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 Digido and best practices, check out some of the following resources:

Sources

Reviews

FAQ

Who owns Digido?

Digido Finance Corp. is under the leadership of Nikita Saigutin, who serves as the Chief Executive Officer. With a background in the finance industry dating back to 2011, Saigutin played a key role in the conception and establishment of UnaPay and UnaCash. His ongoing involvement positions him as a leading figure in shaping the present and future initiatives of the company.

What credit score do you need for Digido?

Digido Finance Corp does not explicitly disclose specific credit score requirements for loan approval. Unlike traditional lenders, Digido is known for considering applications from individuals with varying credit histories. The company may assess the applicant's financial situation, employment details, and other factors to determine eligibility. While a positive credit history can enhance the chances of loan approval, Digido's approach may be more inclusive compared to institutions that rely heavily on credit scores.

What bank does Digido use?

When borrowers receive loan funds from Digido, the company typically utilizes various channels for disbursement, including direct bank transfers in such banks as ChinaBank Online and Bank of Commerce Online, remittance centers, and other payment methods such as Dragonpay, 7-Eleven, and offline branches. The specific bank involved in the disbursement process may depend on the borrower's preferences and the chosen method of receiving the loan amount.

Does Digido approve everyone?

No, Digido Finance Corp does not guarantee approval for all loan applicants. While Digido is known for having a more inclusive approach compared to traditional lenders and may consider individuals with varying credit histories, there are still eligibility criteria that applicants must meet.

The approval process takes into account factors such as the applicant's financial situation, employment details, and other relevant information. Meeting these criteria increases the likelihood of approval, but approval is not automatic for every applicant.

Is Digido a legitimate company?

Yes, Digido Finance Corp is a legitimate online lending company. Digido is a financial institution that provides loans to individuals in the Philippines. It operates within the legal framework and is registered with the Securities and Exchange Commission (SEC). Its legitimacy is supported by its SEC Registration No.: 202003056 and Certificate of Authority No. 1272. Additionally, Digido emphasizes transparency in its operations, offering a fully automated online portal and customer-friendly financial solutions.

Company documents

Privacy policy
Terms and Conditions

Minimal documentation, high loan approval rate, and immediate fund availability, even for people with lousy credit history, make online loans the most popular type of loans for the Filipinos.

© DIGIDO FINANCE CORP.
Financial products
DIGIDO
Instant online loans
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

4
Recommended FinScore™
0
300
650
1000
10500.00 – 25000.00 ₱
Rate
i

Effective interest rate on the product

from 11.90 %
Term
i

Loan term for the financial product

3 days – 6 days
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DIGIDO loans calculator

Calculate loan payments in DIGIDO. Loans calculator will allow you to calculate an approximate payment schedule for the loan

DIGIDO calculator
Interest rates are given in accordance with the rates of the DIGIDO in Manila as of 21.07.2024
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All DIGIDO’s reviews by july 2024
Leave feedback
5
Advantages
very fast
Disadvantages
nothing
Complain
3.2
Advantages
I was in need of cash badly and these guys really helped. approval was veery fast, i didint even lock my phone screen)) received money tru digido, many people say that its scam but my experience with this app wasnt frustrating
Disadvantages
but their rates are just insane. you can be charged xtra apr just for breathing. also there are no installment plans. very sad( and please, STOP CALLING ME! I knowthat my due date is on the next week, i have a calendar, just stop
Complain
4.4
Advantages
i had a really good experience with Digido. the response was immediate and i received my cash on the same day. the app was very easy to use and the support group is very polite and friendly. if you need some cash asap this place may be a real choice for you.
Disadvantages
rates are really high. maybe a bit higher than at simialr places but i think its not crucial. also, it was a bit weird to receive phone calls from their agent all the time even after i had received reimbursment
Complain
3.6
Advantages
The support is really friendly, I had some questions and they replied very quickly. Also the application was very easy, no need to leave your home or collect different documents endlessly. The service is very convenient, like it
Disadvantages
Well the truth is rates are very high and you cant control their change. At least I didnt have to pay x2, thanks for that. They promised to increase the loan limit for the second loan but it never happened that’s why I’ll never apply again
Complain
4
Advantages
really appreciate that you can get a quick cash in 2 minutes. if you really need money ASAP these guys are ok. done the application online and on the same day received cash. very cool that you dont need to leave your couch + support is really user friendly. i have a question - they have a quick answer. like for that
Disadvantages
would be better if they fix their rates. you just cant afford to pay if you set 2 months. the interest will double almost A HALF of your loan. you will need to take another loan to repay this one
Complain
3.4
Advantages
good theres no need to go to their office. but to be honets, the application is REEAALLY quick, just a matter of several minutes
Disadvantages
if u believe that u’ll have promo interest, FORGET ABOUT IT. if u dont repay, rates will go to the moon. i took 5k but now have to repay +2k. is that for real?? and i m not talking about their app that can be described as piece of scam. for a month the interest goes for up to 50% of my loan. are u ok?
Complain
4
Advantages
The advantages of this app was good, they are very responsive and quickly answered you if you are able to get a loan or not.
Disadvantages
Disadvantages of this app, was i always declined😅😔every time i applied for a loan because i dont meet their credentials.. But all in all this loan app was good abd legit.
Complain
Overall company rating
3.9
/ 5
7 reviews
Execution of an application
4.0
Support service
4.4
Mobile app
3.9
Service quality
3.7
Your satisfaction level
3.7
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