About lender
Online Loans Pilipinas - a legitimate online lending platform for short-term loans registered with the SEC as a financial lender operating in the Philippines.
Online Loans Pilipinas belongs to the Infinito Group, an international Fintech Company formerly known as Magic World Technologies. It is the one-stop platform for all digital financial solutions as the company believes in uplifting and boosting the financial well-being of people in Filipino. Their head office is situated in San Antonio, Philippines, Pasig City, and they acquired their SEC registration in 2017.
Pros and cons
Before making any major financial decisions, one should be cognizant of all the advantages and disadvantages associated with the company.
Pros
- Minimum crediting rates
- All services are accessible online
- The procedure is transparent
- The loan repayment is convenient
- The application gets confirmed on the phone
- Easy to apply, and services are fast
Cons
- The interest rate is higher than usual if the loan isn't paid on time
- The duration of the loan is short.
Loan conditions
The primary goal of Online Loans Pilipinas is to satisfy the basic financial needs of every Filipino. The loan application typically gets approved within 1-2 business working days. If someone is applying for the first time, the range varies from ₱1000-7000, wherein the interest rate is 1.25%, and the loan term is from 7-30 days. The service fee for the first-time applicant is zero.
Repeated borrowers with a good credit history can obtain a loan of up to ₱20000. The interest rate is the same, i.e. 1.25%.
Online Loans Pilipinas specializes in “Payday Loans”, wherein the customer can obtain a loan in 4 hours, devoid of the usual complicated procedures. Apart from this, they also provide a fast cash loan, personal loan, and online loans. Online Loans Pilipinas offers payday and installment loans as well.
Methods of a loan funding
The steps to acquire an Online Loans Pilipinas loan are rather simple:
- Go to the Online Loans Pilipinas site, Sign in and create an account if you already don’t have one.
- After creating the account, upload a valid identification and phone number.
- Navigate the Online Calculator and choose the loan amount and period.
- Fill out the details correctly and answer the verification call.
- Expect the approval within 1-2 business days.
- Carefully scrutinize the loan agreement and sign the same.
