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EasyCash Review

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About EasyCash

EasyCash is a technology-driven financial services company that provides personal loans as well as loans tailored for seamen and businesses. It stands as a prominent player in the lending industry, committed to providing credit solutions to deserving individuals and small businesses. The company prides itself on designing and customizing lending and borrowing products, leveraging industry-specific data and insights. EasyCash places a premium on customer experience, adopting a customer-first mindset to create exceptional interactions.

With a keen eye on long-term growth, EasyCash aspires to expand its team of financial industry experts, fostering a collaborative and united work environment. The company's commitment to attracting top talents aligns with its goal of building a lasting business. Through its customer-centric approach and dedication to simplifying financial access, EasyCash aims to maintain a solid position as a reliable and forward-thinking lending institution.

EasyCash

Key Features

  1. User-Friendly Online Application. EasyCash offers a seamless and user-friendly online application process, allowing individuals and businesses to apply for loans with ease.

  2. Flexible Loan Terms. Borrowers can choose from flexible loan terms, tailoring their repayment period to either 30 or 60 days for personal loans, and varying durations for other specialized loan products.

  3. Diverse Loan Products. EasyCash caters to a range of financial needs with specialized loan products, including personal loans, seafarer loans, and business loans, each designed to address specific requirements.

  4. Innovative Risk Management Tools. Leveraging advanced risk-management tools, EasyCash assesses applications based on industry-specific data and insights, ensuring responsible lending practices.

  5. Secure Online Payments. The company offers multiple official payment channels and ensures the security of online transactions, providing borrowers with confidence in their financial interactions with EasyCash.

Pros and Cons

Pros

Efficiency and Speed. EasyCash's online application and approval process enable quick access to funds, catering to urgent financial needs.

Flexible Loan Terms. The availability of diverse loan terms allows borrowers to choose a repayment period that aligns with their financial situation and preferences.

Innovative Technology. The company's use of technology not only expedites the loan application process but also enables the customization of lending products based on industry-specific data and insights.

Cons

Geographical Restrictions. Eligibility criteria may restrict those residing outside Metro Manila or nearby provinces from accessing EasyCash's services.

Co-Borrower Requirement. The mandatory co-borrower requirement for certain loan types, such as seafarer and business loans, may pose a challenge for some applicants.

Limited Maximum Loan Amount Online. Borrowers seeking larger loan amounts may need to visit an EasyCash office, as there may be limitations on the maximum online loan amount.

Reliability

Easycash Philippines operates within legal parameters. The company is officially registered with the Securities and Exchange Commission (SEC) in the Philippines, ensuring its compliance with relevant legal requirements. The SEC registration number for Easycash Philippines is CS201001882, and it also holds a Certificate of Authority with the number 640, further confirming its legitimacy.

EasyCash prides itself on establishing a reputation for reliability within the financial services sector. The company's commitment to leveraging innovative technology and scalable infrastructure underscores its dedication to providing a trustworthy lending platform. By streamlining the online application process, EasyCash aims to deliver a reliable and efficient experience for individuals and businesses seeking financial assistance. The transparent communication of loan terms and interest rates further contributes to building trust, allowing borrowers to make informed decisions about their financial commitments.

With a customer-first mindset, EasyCash places a significant emphasis on creating positive and reliable interactions with clients. The company's dedication to turning negatives into positives and going to exceptional lengths to engage and amaze customers reflects its commitment to reliability. EasyCash's track record of adhering to industry standards, coupled with its focus on setting benchmarks within the sector, positions the company as a reliable choice for those in need of diverse and flexible lending solutions.

How to Apply for an EasyCash Loan?

Apply for a Loan

  1. Create an EasyCash Account. Begin by creating an EasyCash account on the company's official website. You can choose your preferred loan type during the signup process. The platform offers the option to register using either your Facebook account or email address.

  2. Apply for a Loan. Once registered, proceed to fill out the online application form. Provide the required details accurately, and ensure that you submit the necessary documents to support your application. EasyCash typically requests government-issued IDs, proof of income such as the latest payslip, and proof of billing under your name (e.g., utility bills).

  3. Submit Required Documents. Ensure that you submit all required documents promptly to facilitate the processing of your application. EasyCash may need documentation such as SSS, Driver's License, TIN, Passport, UMID, PRC, company ID, and recent proof of billing.

  4. Wait for Loan Approval. After completing the application and submitting the necessary documents, await the loan approval process. EasyCash employs innovative technology for a swift evaluation, and applicants often receive their loan status within minutes. The loan agreement will describe specifics of the loan made, including the sum of monthly payments.

  5. Receive Loan Status Notification. EasyCash notifies applicants of their loan status via SMS and email within 24 hours of completing the application. You can also log into your EasyCash account to check the real-time status of your application.

  6. Loan Disbursement. Once approved, for personal loans, the loan amount is disbursed directly into your bank account. For other types of loans, you may need to visit an EasyCash office for disbursement.

Conditions and Requirements

Conditions

  1. Flexible Loan Terms. EasyCash provides borrowers with the flexibility to choose from varying loan terms, allowing them to select a repayment period that suits their financial circumstances. The available terms typically range from 30 to 60 days for personal loans, while other specialized loan products may have different durations.

  2. Innovative Technology. Leveraging advanced technology, EasyCash ensures a swift and efficient loan application and approval process. The company's innovative platform allows for quick evaluation and notification of loan status within minutes.

  3. Loan Renewal Option. Eligible borrowers have the convenience of applying for a loan renewal once their previous loan is settled, providing continuous financial support when needed.

  4. Diverse Loan Products. EasyCash caters to a range of financial needs with specialized loan products, including personal loans, seafarer loans, and business loans, each designed to address specific requirements.

Requirements

  1. Age and Citizenship Criteria. Borrowers must meet age requirements, typically between 21 and 49 years old. Additionally, applicants should be Filipino citizens residing in Metro Manila or nearby provinces.

  2. Employment Status. For personal loans, applicants can be regular employees or self-employed individuals with at least two years of profitable operation. Specific employment or contractual requirements may apply to other loan types.

  3. Documentation. The application process requires the submission of essential documents, including any two government-issued IDs (e.g., SSS, Driver's License, TIN, Passport, UMID, PRC), the latest payslip, and proof of billing under the applicant's name (e.g., utility bills).

  4. Seafarer Loan Specifics. Seafarer loan applicants must provide additional documents such as a POEA-stamped Contract of Employment, SRC/SIRB, updated Allotment Slip, Passport, and SSS or TIN number.

  5. Business Loan Criteria. Business loan applicants must own a duly licensed and registered business, be aged not more than 55 years old, and have at least two years of profitable operation. Documentation includes a fully accomplished application form, business licenses, financial statements, and a bank statement.

Ways to Receive the Money

  1. Direct Bank Transfer. For a personal loan online, once your application is approved, EasyCash facilitates a direct bank transfer of the loan amount to the bank account provided during the application process. This method ensures a swift and secure transfer, allowing borrowers to access their funds conveniently.

  2. Office Disbursement. In the case of specific loan types, borrowers may be required to visit an EasyCash office to accept payment. This option is commonly applicable to loans other than personal loans. By visiting the office, borrowers can receive the loan amount in person, providing an additional level of flexibility.

Products

  1. Personal Loans. With loan terms ranging from 30 to 60 days, borrowers can access personal loans ranging from PHP 5,000 up to PHP 10,000.

  2. Seafarer Loans. Varying terms from one (1) month to ten (10) months, depending on the seafarer's contract. Seafarer loans allow borrowing from a minimum of PHP 20,000 up to a maximum of PHP 200,000.

  3. Business Loans. Loan terms range from three (3) months to nine (9) months. Borrowers may access a minimum loan amount of PHP 200,000.

Other Loans

Reasons for Getting Rejected for an EasyCash Loan

  1. Insufficient Income or Unstable Employment. If the applicant's income is deemed insufficient to meet the repayment requirements or if there is instability in their employment history, the application may face rejection. EasyCash assesses the applicant's ability to repay the loan, and a lack of stable income may be a determining factor.

  2. Incomplete or Inaccurate Documentation. Providing incomplete or inaccurate documentation can hinder the processing of a loan application. EasyCash requires specific documents for verification, and failure to submit the necessary paperwork may result in rejection.

  3. Poor Credit History or Credit Rating. A history of late payments, defaults, or a low credit rating can impact the approval of a loan. EasyCash, like other lenders, assesses the creditworthiness of applicants, and a poor credit history may lead to rejection.

  4. Age and Citizenship Requirements. EasyCash sets specific age and citizenship criteria for loan applicants. If an individual does not meet these requirements, their application may be rejected. For instance, personal loans may be limited to individuals between 21 and 49 years old.

  5. Failure to Meet Specific Loan Requirements. Each loan type has specific eligibility criteria and documentation requirements. Failing to meet these criteria, such as those outlined for seafarer or business loans, may result in the rejection of the application.

  6. Existing Financial Obligations. If the applicant has existing financial obligations that significantly impact their debt-to-income ratio, EasyCash may determine that extending additional credit is not feasible, leading to a rejection.

  7. Inconsistencies in Information. Inconsistencies or discrepancies in the information provided by the applicant during the application process can raise red flags. EasyCash values accuracy and honesty in the application, and inconsistencies may lead to rejection.

  8. Geographical Restrictions. EasyCash primarily serves individuals residing in Metro Manila or nearby provinces. Applicants outside this geographical scope may have their applications rejected due to the company's service limitations.

How to Repay an EasyCash Loan?

Repay

  1. Loan Repayment Schedule Notification. Once your loan application is approved, EasyCash's Loan Servicing Specialist will contact you to provide details of your loan agreement, including the approved amount, repayment terms, and schedule. You will also receive a computation sheet and disclosure statement prior to the release of your loan.

  2. Choose Your Preferred Payment Method. EasyCash offers various official payment channels to make the repayment process convenient for borrowers. These payment channels may include post-dated checks, nominated allotment bank account (for seafarer loans), Dragon Pay, Gcash, BDO (under the account name of Easycash Lending Company Inc), and BPI (under the account name of Easycash Lending Company Inc). Only payments made via EasyCash official payment channels and the agreed mode of payment will be accepted.

  3. Make Payments Before or on the Due Date. Borrowers are encouraged to make their payments before or on the due date to avoid late fees and improve their credit score. Timely repayments also contribute to a positive relationship with EasyCash and may enhance future loan eligibility.

  4. Holiday Repayment. In the event that your payment due date falls on a holiday, EasyCash allows borrowers to make their payments on the following business day without incurring any penalties.

  5. Early Repayment Option. Borrowers have the flexibility to make early repayments if they wish. EasyCash encourages clients to pay loans on or before the due date, which can also positively impact their credit score.

  6. Check Your Loan Account Status. Borrowers can log into their EasyCash account to check the status of their loan and view the repayment history. This provides transparency and allows borrowers to keep track of their financial commitments.

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

In evaluating EasyCash as a lending institution, it is apparent that the company strives to offer a diverse range of loan products to cater to the varied financial needs of its clientele. The emphasis on technological innovation and a streamlined application process reflects a commitment to making financial services accessible. However, the mandatory co-borrower requirement for certain loan types and the specific eligibility criteria may pose challenges for some applicants. The company's transparency in communicating loan terms and its dedication to customer service contribute positively to the overall borrower experience. As with any financial institution, potential borrowers are advised to carefully review the terms, eligibility criteria, and requirements before engaging with EasyCash, ensuring a clear understanding of the borrowing experience and enhancing the likelihood of a successful financial partnership.

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

Sources

FAQ

Who owns EasyCash?

Founded in 2010, EasyCash operates as a financial services company in the Philippines, providing credit solutions to individuals and businesses. Despite being established more than a decade ago, information about the ownership of EasyCash remains elusive and isn't readily available in the public domain.

What credit score do you need for EasyCash?

EasyCash, like many other financial institutions, doesn't explicitly disclose a specific minimum credit score requirement for loan eligibility. Instead of relying solely on credit scores, EasyCash considers various factors, including income, employment history, and other financial indicators, to assess an applicant's creditworthiness.

To determine the most accurate and current information regarding credit score requirements, it is advisable to directly contact EasyCash or check their official website for the latest details.

What bank does EasyCash use?

EasyCash facilitates a streamlined repayment process by providing diverse official payment channels to enhance convenience for borrowers. These channels encompass post-dated checks, a designated allotment bank account for seafarer loans, Dragon Pay, Gcash, BDO (under the account name of Easycash Lending Company Inc), and BPI (under the account name of Easycash Lending Company Inc). It's important to note that EasyCash exclusively accepts payments made through its official payment channels and adhering to the agreed-upon mode of payment, ensuring a secure and efficient repayment experience for its clientele.

Does EasyCash approve everyone?

No, EasyCash, like any responsible lending institution, does not automatically approve all applicants. Approval for a loan is subject to a thorough evaluation of the applicant's eligibility based on various factors, including income, employment history, creditworthiness, and adherence to the specific loan requirements outlined by EasyCash.

Each applicant is assessed individually, and the approval process takes into consideration factors that indicate the borrower's ability to repay the loan. While EasyCash may strive to provide accessible financial solutions, the approval decision is based on a careful evaluation of the applicant's financial profile.

Is EasyCash a legitimate company?

EasyCash is a legitimate financial services company operating in the Philippines. They offer a range of credit solutions, including personal loans, seafarer loans, and business loans. EasyCash is known for its technology-driven approach to simplify the loan application process and provide accessible financial solutions to individuals and businesses.

However, it's crucial to note that information can change, and new developments may have occurred since my last update. To ensure the most current and accurate information, it is recommended to verify EasyCash's legitimacy through official sources, such as their website, customer reviews, and regulatory bodies in the Philippines. Additionally, prospective borrowers should exercise due diligence, carefully review terms and conditions, and contact EasyCash directly for any specific inquiries.

Company documents

Data Privacy Statement and Consent

We deliver top-notch service and utilize advance technology to bring timely loans to extraordinary people like you.

© Easycash Lending Company, Inc.
Financial products
EasyCash
Personal Loan
Rating by Finanso®
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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.

Recommended FinScore™
0
300
650
1000
3000.00 – 10000.00 ₱
Rate
i

Effective interest rate on the product

to 10.00 %
Term
i

Loan term for the financial product

1 months – 3 months
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₱500 - ₱25000
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Effective interest rate on the product

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10500.00 – 25000.00 ₱
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