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Lender
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LoanChamp

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About lender

LoanChamp is a subsidiary of Y Finance Inc, established in late 2017. The company’s mission is driven by a determination dedicated to delivering a financial solution that is both affordable and convenient.

LoanChamp is a financial institution that aims to ensure that all Filipinos have access to lending services. The company also tries to fix the problem faced by the majority of the population in the Philippines who have limited access to essential financial services. The company allows people to achieve financial independence and make quality financial decisions. Borrowers can use the platform to borrow loans starting from ₱2,000.

The company provides Filipinos with greater options to improve their quality of life. The company has a team of banking professionals, fintech pioneers, and local financial consultants.

Pros and cons

LoanChamp was launched to provide Filipinos with better access to financial services. However, it’s always important to weigh all its pros and cons before applying for a loan.

Pros

  • LoanChamp provides users access to a dedicated mobile app that they can use anytime, anywhere.
  • The company provides fast loan processing.
  • LoanChamp follows its privacy policy rigorously as the company prioritizes protecting its borrower’s personal information.

Cons

  • The loan is available if you live or work in a major city in the Metro Manila area.
  • The loan is available for stable periodic income earners, which makes it unsuitable for nonperiodic income earners.

Loan conditions

To be eligible for a loan through LoanChamp, applicants must be Filipinos aged between 20 to 65, living or working in the Metro city of Manila. They should also be receiving a stable periodic income in their bank account. Applicants should be able to provide one valid government ID and one proof of employment (depending on their work).

If the applicant is an employed individual, they must be able to provide one valid government ID and proof of employment (company ID, certificate of employment, or payslip).

If the applicant is unemployed, they must provide one valid government ID, a copy of the Mayor’s or Baragay permit, a copy of the DTI certificate, and an updated ITR.

The company also offers loans to freelancers. They must submit one valid government ID, their active profile from any freelancing platform, and a history of completed and active projects.

Funding a loan

LoanChamp is an online platform, so it would require stages through which you can get a loan. You will have to enter the information about the loan you want to apply for and complete an online loan application. The company currently offers two types of loans.

  • Flex loans. These are cash loans that can be used for multiple purposes by the borrower. The applicant also has an option to choose a custom repayment date. The flex loans range between ₱2,000 to ₱20,000. The interest rate ranges from 0.35% to 0.50%.
  • Seafarer loans. The company also offers Seafarer loans that range between ₱10,000 to ₱500,000. The interest rate starts at 2.5% per month. The loan term offered here is up to 12 months.
  • Salary loans. LoanChamp offers loans for salaried employees ranging between ₱10,000 to ₱50,000 with a loan repayment term of 2 to 6 months. The loan comes with a processing fee of 7%.

LoanChamp

FAQ

What is LoanChamp?

LoanChamp is an online credit platform that ensures financial inclusion for all Filipinos. The company wants to dedicate its existence to delivering a financial solution that is both affordable and convenient for borrowers. It also ensures that all Filipinos have access to financial services.

Who owns LoanChamp?

LoanChamp is a lending arm of Y finance inc, established to provide a modern full solution to financial inclusion in ASEAN.

How do you qualify for LoanChamp?

Loans from LoanChamp are available to Filipino citizens with a stable periodic income, who are of at least 20 years of age at the time of application but not more than 65 at the time of the loan. Other conditions to qualify for a loan depend on the applicant’s requirements and the loan they apply for.

How much can you borrow from LoanChamp?

The loan approval amount offered by LoanChamp ranges between ₱2,000 to ₱20,000 for a flex loan. Similarly, salary loans range between ₱10,000 to ₱50,000. Finally, seafarer loans range from ₱10,000 to ₱500,000.

Is LoanChamp a legitimate company?

LoanChamp is a registered company governed by the Securities and Exchange Commission (SEC).

What is the minimum amount you can apply for a loan in LoanChamp?

The minimum amount offered by LoanChamp for a loan is ₱2,000

What is the maximum amount you can apply for a loan in LoanChamp?

The maximum amount offered by LoanChamp for a Loan is ₱500,000

What is the longest term offered by LoanChamp?

The longest term offered by LoanChamp is 12 months.

To provide affordable and convinient financial solutions. To serve the underbanked Filipinos through big data driven technology

© LoanChamp

LoanChamp available areas

  • Ilocos Region
  • Cagayan Valley
  • Central Luzon
  • CALABARZON
  • MIMAROPA Region
  • Bicol Region
  • Western Visayas
  • Central Visayas
  • Eastern Visayas
  • Zamboanga Peninsula
  • Northern Mindanao
  • Davao Region
  • SOCCSKSARGEN
  • Caraga
  • National Capital Region
  • Cordillera Administrative Region
  • BARMM
LoanChamp available areas

Financial products

LoanChamp
Flexi Loan
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.

Recommended FinScore™
0
300
650
1000
up to 500 000 ₱
Rate
i

Effective interest rate on the product

0.5% per day
Term
i

Loan term for the financial product

up to 12 month

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LoanChamp loans calculator

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

LoanChamp calculator
Interest rates are given in accordance with the rates of the LoanChamp in Manila as of 04.12.2022
Loan amount
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2000 ₱
20000 ₱
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What to pay attention to when applying for a loan at LoanChamp?

Recommendations

What distinguishes LoanChamp from a bank:

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