About company
LoanOnline is not a lender and does not make loans on its behalf. LoanOnline's website evaluates verified/trusted lenders in real-time with diverse financial solutions, payback options ranging from 91 to 180 days, and interest rates ranging from 0% to 427%. For example, if you apply for a ₱20,000 loan and opt to repay it over six months, your monthly payment would be merely ₱5,000, but your total loan cost will be ₱2,383 a month (APR = 143%). LoanOnline does not charge for its services. The specific application determines the actual cost of each loan. Before signing a loan agreement, you will always be given comprehensive and correct information regarding the APR and any expenses by the lender.
Pros and cons of LoanOnline
LoanOnline helps you connect with different fast online lenders by collecting your data and displaying all the lending companies that suit your needs. Here are some pros and cons to taking note of before using the service.
Pros
The platform’s services are entirely online. You can do it from wherever you are or whenever you want as long as you have a stable network connection.
The platform is free to use. You do not pay a dime for their services.
Their service is easy to use. It is as simple and easy as chatting with friends and families.
The platform offers faster turnarounds. With just two minutes, you can get a bulk of lenders on your screen, with the only job left to do to choose the best option for you.
Cons
The platform requires you to register and have an account with the company before you can use their service..
The platform might fetch data from your browser and even your device when you use it.
Products
The company offers two services: Get loan proposal and Compare loans.
Get loan proposal
You may choose your preferred loan amount and period, enter your phone number and email address, and click Get loan proposal. The company will instantly search and present the best loan offers for your selected loan terms. It is now up to you to decide which one is best for you. You can also apply for and receive the loan you want since everything is online-based. You can get a loan proposal following the below steps:
Visit the LoanOnline official website.
Choose your preferred amount. This can range from ₱500 to ₱25,000.
Select a loan term of your choice, ranging from three months to twelve months, then click on Get loan proposal.
Now the company will ask for your data: your phone number and email. According to them, this will help bring the best offers for you. Input the data and click on Submit.
The best loan offers for the data you gave will be displayed. Select the one that is best for you. You can select more than one lender and apply for the same.
Compare loans
This service uses your private information to find the best loan offers for you. They obtain Information from so in many ways, like:
Information you supply to them. They gather your company name, complete name, legal address, email address, phone number, and any other information you voluntarily provide on their website.
Information obtained from third parties. They may get information about you from third parties. They may combine this information with the one they acquire from you and post it on their website.
Automatically gathered information. They automatically collect information about you and your computer/device. For example, when you visit their website, they record your operating system form, browser version, browser language, the website you accessed before visiting their website, the pages you view, and the amount of time you spend on each page.
Cookie information. They may save information in cookies. Cookies are small data files that a website places on your hard disk. To create a more customized and engaging experience on their website, they may employ session cookies (which expire when you shut your web browser) and permanent cookies (which remain on your computer until you delete them). This information is gathered to make the website more valuable and customize your experience with them to your specific interests and requirements.
Comparing lenders is very simple. Follow the below steps to compare lenders:
Visit the LoanOnline website.
Scroll down and click on Compare loans.
You will be required to input your phone number and email.
Some lenders will be displayed, and you can compare them and choose the right one.
