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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.

MoneyCat

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About Lender

MoneyCat stands as a prominent player in the realm of online payday loans in the Philippines. This multinational fintech company has carved its niche by providing efficient financial solutions to individuals facing immediate cash needs.

Operating exclusively in the digital sphere, MoneyCat ensures a streamlined process that not only caters to the financial needs of its customers but also minimizes associated costs. The online platform facilitates ease of access, making it a convenient option for those seeking quick financial assistance.

To initiate the borrowing process with MoneyCat, prospective borrowers can complete an easy-to-navigate online registration form. Upon successful verification and approval, the approved loan amount, ranging from PHP 500 to PHP 20,000, is swiftly transferred to the borrower's designated bank account within 24 hours.

MoneyCat

Key Features

  1. Swift Approval Process. One of MoneyCat's standout features is its quick approval process. Within 24 hours of successful verification and approval, borrowers can expect the loan amount to be transferred directly to their nominated bank account. This ensures that users can address their urgent financial requirements promptly.

  2. Flexible Loan Amounts. MoneyCat offers a versatile range of loan amounts, spanning from PHP 500 to PHP 20,000. This flexibility allows borrowers to select an amount that precisely aligns with their specific financial needs, providing a tailored borrowing experience.

  3. Convenient Application Methods. MoneyCat understands the importance of accessibility, offering users the choice to apply for loans either through its website or dedicated mobile app. This flexibility accommodates the varying preferences of users, ensuring a seamless application process.

  4. First Loan Free. As an enticing incentive for first-time users, MoneyCat introduces a unique feature – the first loan is provided free of charge. This not only encourages individuals to explore the platform but also serves as a cost-effective way for newcomers to experience the benefits of MoneyCat's financial solutions.

Pros and Cons

Pros

Simple and Fast Application Process. MoneyCat offers a straightforward and rapid application process. Users can easily navigate the online application or app, streamlining the borrowing experience.

Approval in 24 Hours. The platform's commitment to efficiency is evident in its quick approval timeline. Within a day, borrowers can receive approval and have the loan amount transferred to their designated bank account.

0% Interest for New Borrowers. A notable advantage for first-time users, MoneyCat offers a 0% interest rate on the initial loan. This serves as a cost-effective incentive for individuals exploring the platform for the first time.

Cons

Maximum APR 145%. A potential drawback is the maximum Annual Percentage Rate (APR) of 145%. Borrowers should be mindful of the interest rates associated with their loans, as higher APRs can result in increased overall repayment amounts.

Only Available for Individuals 22 Years Old and Above. MoneyCat's services are restricted to individuals aged 22 and above. This age limitation may exclude younger individuals who may require financial assistance.

Reliability

MoneyCat is a reliable and legitimate financial service provider. MoneyCat Financing Inc. is a licensed financing company in the Philippines, holding a Certificate of Authority to Operate issued by the Securities and Exchange Commission (SEC). The company's SEC Registration Number is CS201953073, and its Certificate of Authority to Operate as a Lending Company (CA) Number is 1254 For those seeking financial assistance, knowing that MoneyCat is headquartered at the Tycoon Bldg on Pearl Drive in Brgy. San Antonio, Ortigas Center, Pasig City provides transparency about its physical location, further contributing to its reliability as a lending entity.

How to Apply for a MoneyCat Loan?

Apply for a Loan

  1. Visit the Website or Download the MoneyCat App. Fill out the loan application form directly on the MoneyCat website, or for added convenience, download the MoneyCat Loan App from the Google Play Store. This user-friendly approach allows you to choose the application method that best suits your preferences.

  2. Confirm Information with Authentication Code. After submitting your application, confirm the information you provided by using the authentication code sent to you. This step ensures the accuracy and security of the details you provided during the application process.

  3. Await a Call from a MoneyCat Representative. Expect a call from a MoneyCat representative who will inquire about the purpose of your loan and provide a comprehensive explanation of the terms and conditions associated with the loan. This personalized touch adds clarity to the borrowing process.

  4. Receive SMS Loan Approval Notification. Following the representative's call, anticipate an SMS code within 30 minutes, informing you of the status of your loan approval. This prompt communication keeps you informed about the progress of your application.

  5. Confirm Loan Agreement and Receive Funds. Upon loan approval, confirm your agreement with the provided terms. Once confirmed, you can expect the loan proceeds to be deposited into your nominated bank account within 24 hours. This quick turnaround ensures that you have access to the funds when you need them.

  6. Repayment on or Before Due Date. Adhere to the agreed-upon repayment schedule and pay back the loan on or before the due date. MoneyCat provides flexibility in choosing your preferred payment method, making it convenient for you to fulfill your repayment obligations.

Conditions and Requirements

Conditions

  1. First-Time Borrowers. For first-time borrowers, MoneyCat provides loans with 0% interest. This serves as an attractive incentive, allowing newcomers to experience the benefits of the service without incurring additional interest charges. Additionally, there is no processing fee for first-time borrowers. This transparent approach ensures that borrowers are aware of the total cost associated with their loans.

  2. Loan Terms. The loan terms offered by MoneyCat range from 3 to 6 months. Borrowers have the flexibility to choose a repayment period that aligns with their financial circumstances and preferences.

  3. Loan Amounts. MoneyCat caters to varying financial needs, providing loan amounts ranging from PHP 500 to PHP 20,000. This versatility ensures that borrowers can access the specific amount required to address their financial concerns.

  4. Interest Rates. The monthly interest rate for MoneyCat loans is 11.9%. Borrowers should be aware of this rate when considering their repayment obligations. While the monthly interest rate is 11.9%, the maximum Annual Percentage Rate (APR) is capped at 145%. Borrowers should take note of this maximum rate, as it represents the total cost of the loan over a year, including both interest and fees.

Requirements

  1. Age. To qualify for the loan, applicants must be at least 22 years old.

  2. Residency. MoneyCat services are exclusively available to Filipino citizens residing within the Philippines.

  3. Employment. Applicants should be either currently employed or possess a stable source of income to demonstrate their ability to repay the loan.

  4. Phone number. A crucial requirement is the possession of an active and personal mobile number, ensuring effective communication throughout the loan application process.

  5. Bank account. Applicants need to have an active personal bank account where the loan proceeds can be deposited and repayments can be facilitated.

  6. Documents. Provide a clear picture of at least one of the four mandatory IDs (SSS, UMID, TIN, Driver's License, Passport, or Voter's ID). Additionally, include a selfie holding the same ID for verification purposes.

Ways to Receive the Money

With MoneyCat's online loans fast approval service, receiving the borrowed amount is a seamless process. Once your loan application is approved, the loan proceeds will be promptly transferred to your personal bank account. This efficient and straightforward method ensures that you have quick access to the funds you need. The immediate transfer to your designated bank account contributes to the convenience and effectiveness of MoneyCat's lending services, allowing you to address your financial needs promptly and with ease.

Products

MoneyCat primarily offers online payday loans as its main financial product. Here are the key features and details about MoneyCat's main product:

  • Loan Amounts. Ranging from PHP 500 to PHP 20,000.

  • Loan Terms. Flexible terms of 3 to 6 months, providing borrowers with options based on their financial circumstances.

  • Interest Rates. Monthly interest rate of 11.9%, with a maximum Annual Percentage Rate (APR) capped at 145%.

  • First Loan Incentive. For first-time borrowers, MoneyCat provides loans with 0% interest and no processing fee, offering an attractive incentive to newcomers.

  • Repeat Borrowers. Repeat borrowers are encouraged to review the terms and conditions for applicable interest rates and fees before submitting their applications.

Other Loans

Reasons for Getting Rejected for a Loan

The reasons for getting rejected for a loan can vary and may include:

  1. System Evaluation Outcome. The rejection may be based on the outcome of the system evaluation. This could involve an assessment of various factors such as creditworthiness, financial stability, and other criteria set by the lending institution.

  2. Current Ineligibility. Your current financial or personal situation may not meet the eligibility criteria set by the lending institution at the time of your application.

  3. Unavailable Products. The rejection could be due to the unavailability of suitable products that align with your financial profile at the moment. Lending institutions continuously develop and update their product offerings.

If you are interested in applying again, you are encouraged to re-apply after a waiting period of 30 days. This waiting period may provide an opportunity for your financial circumstances to change or for new products to become available.

How to Repay a MoneyCat Loan?

Repay

  1. Visit the Website or Mobile App. Access the MoneyCat website or use the mobile app to log in to your account. This requires entering your credentials to access your loan details.

  2. Select Payment Method and Click the Pay Loan button. Choose the payment method that suits you and click the "Pay Loan" button. You'll be presented with options: repayment amount (full repayment amount for today only), amount to renew (for prolongation/extension), and any amount (for partial payment).

  3. Select the Payment Option. From the list of Dragonpay payment partners, choose the payment option that aligns with your preferences and convenience.

  4. Follow the Instructions. Different payment options may have specific instructions. Follow the provided steps for your selected payment method. Take note of your lifetime ID provided on your agreement, email, and SMS for reference.

  5. Confirmation of Payment. Once your payment is received, MoneyCat will send a confirmation within 24 hours. Alternatively, you can check your account on the mobile app or website for confirmation of the payment.

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

MoneyCat, as a digital lending institution, has carved a niche in the financial landscape by providing accessible solutions to individuals who need to borrow money immediately. The platform's user-friendly approach, evident in its online loan application process and instant online loan disbursement, caters to the evolving demands of a borrower. Borrowers benefit from the flexibility of choosing loan terms ranging from three to six months, along with the convenience of calculating interest and making a monthly payment through various payment options.

Moreover, the platform operates on a network-based model, ensuring quick and efficient services, exemplified by same-day transactions, making it a viable choice for those seeking cash today. With additional conveniences, like 0% interest for new borrowers, MoneyCat positions itself as a comprehensive financial ally.

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

Sources

FAQ

Who owns MoneyCat?

MoneyCat Financing Inc., being a self-operated company, is owned and operated by its own corporate entity. Without specific information available on the individual or group of individuals behind the ownership of MoneyCat Financing Inc., it is advised to check the latest and most accurate details from official sources or the company's website. Ownership information for private companies may not always be readily available in the public domain, and it is subject to change.

What credit score do you need for MoneyCat?

MoneyCat's lending model typically does not require a traditional credit score for loan approval. One of the notable features of MoneyCat is its emphasis on providing loans without the need for collateral or a credit history. This approach is designed to make financial assistance more accessible to a broader range of individuals, including those who may not have an established credit history.

What bank does MoneyCat use?

There is no specific information about the partnering bank used by MoneyCat for loan disbursements or transactions. Financial institutions may have partnerships with various banks for different purposes, including handling loan disbursements and repayments. To obtain the most accurate and current information about MoneyCat's banking relationships, it is recommended to check the latest details on MoneyCat's official website or contact MoneyCat directly through their customer support channels.

Does MoneyCat approve everyone?

While MoneyCat aims to provide accessible financial solutions, it's important to note that approval for a loan is not guaranteed for everyone. The approval process typically involves evaluating various factors, such as income, employment status, and other relevant information provided during the application.

MoneyCat may have personal requirements, and meeting these criteria increases the likelihood of loan approval. However, like any responsible lending institution, MoneyCat may need to assess the financial capability of applicants to ensure that they can repay the loan.

Is MoneyCat a legitimate company?

MoneyCat is a legitimate company. MoneyCat Financing Inc., the entity behind MoneyCat loans, is a licensed financing company in the Philippines. It has been issued a Certificate of Authority to Operate by the Securities and Exchange Commission (SEC). The company's SEC Registration Number is CS201953073, and its Certificate of Authority to Operate as a Lending Company (CA) Number is 1254.

Company documents

Terms and Conditions
Privacy Policy

MoneyCat service will bring you financial solutions easily and quickly: Get started by completing the online registration application, and we will review and transfer money to your bank account within 24 hours.

MoneyCat Financing Inc.
MoneyCat 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
  • Cordillera Administrative Region
  • Metro Manila
MoneyCat available areas
Financial products
MoneyCat
Instant cash 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.

Recommended FinScore™
0
300
650
1000
₱20000
Rate
i

Effective interest rate on the product

11,9% per month
Term
i

Loan term for the financial product

6 months
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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.

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650
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10500.00 – 25000.00 ₱
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Effective interest rate on the product

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Recommended FinScore™
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500.00 – 25000.00 ₱
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Effective interest rate on the product

to 0.16 %
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Loan term for the financial product

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Recommended FinScore™
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₱500 - ₱25000
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Effective interest rate on the product

30% - 365% APR
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Loan term for the financial product

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MoneyCat loans calculator

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

MoneyCat calculator
Interest rates are given in accordance with the rates of the MoneyCat in Manila as of 24.02.2024
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