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.
Key Features
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Automated Application Process. Digido streamlines the loan application process with its fully automated online portal, providing a user-friendly and efficient experience.
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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.
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No Collateral Required. Digido distinguishes itself by providing non-collateral loans, offering financial solutions without the need for security.
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Online Loan Calculator. The online loan calculator empowers applicants to make informed decisions by estimating repayment amounts based on loan amount and duration.
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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.
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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.
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Loan Accessibility for Unbanked Individuals. Digido caters to applicants without bank accounts, enhancing financial inclusion for a broader segment of the population.
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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
Cons
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?
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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.
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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.
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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.
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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.
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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.
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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
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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.
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Loan Duration. Borrowers can choose flexible repayment terms, with loan durations typically ranging from 3 to 6 months for standard loans online.
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Repeat Borrower Benefits. Digido encourages customer loyalty by offering improved loan terms for individuals with repeated loans, making subsequent borrowing more advantageous.
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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.
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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
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Filipino Citizenship. Applicants must be Filipino citizens to qualify for a Digido loan.
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Age Criteria. Individuals within the age group of 21 to 70 years are eligible to apply for a Digido loan.
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Valid Mobile Connection. A working mobile connection is a prerequisite for loan application, ensuring communication throughout the application process.
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Government-Issued ID. Applicants are required to submit a valid government-issued identification card as part of the verification process.
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Employment Details. Providing accurate employment details, including job position, company information, and monthly income, is essential for the application process.
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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.
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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
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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.
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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.
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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.
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Emergency Loans. Designed to address urgent financial requirements, Digido's emergency loans offer a quick and accessible solution for unexpected expenses.
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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.
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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.
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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
- 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 Digido Loan
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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.
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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.
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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.
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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.
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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?
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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
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 Digido and best practices, check out some of the following resources:
- Full Digido Account Review
- How to Apply for Digido Loan
- How to PayOff Digido Loan
- Digido Reviews
- All Digido Coupons and Promo for March 2025
Sources
- Digido 18.12.2023
