About Lender
OneClickMoney, a financial service offered by MoneyCat Financing Inc., a prominent multinational consulting firm, stands as a leading online solution for individuals seeking swift financial assistance. This application leverages cutting-edge fintech to streamline the loan application process, providing users with an efficient and user-friendly experience.
Distinguished for its commitment to user satisfaction, OneClickMoney has gained acclaim as a reputable online loan platform. The platform's popularity can be attributed to its expeditious application process and the provision of competitive interest rates, making it a preferred choice for those in need of financial solutions.
Key Features
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Affiliation with MoneyCat. OneClickMoney operates under the umbrella of MoneyCat, a multinational financial firm. This affiliation underscores the platform's credibility and commitment to providing robust financial services.
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First Loan Incentive. For new customers using OneClickMoney, the platform offers a compelling incentive. The first loan comes with a 0% interest rate, providing an advantageous opportunity for users to experience the service without incurring additional costs.
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Quick Fund Disbursement. OneClickMoney is designed to cater to the urgency of users' financial needs. Upon approval, users can expect to receive their approved credit funds within a timeframe of 24 hours, ensuring swift access to the required funds.
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Flexible Loan Amounts. OneClickMoney accommodates a range of financial needs by offering loan amounts that span from PHP 500 to PHP 20,000. This flexibility allows users to tailor their loan to match specific requirements, providing a personalized and accessible financial solution.
Pros and Cons
Pros
Cons
Reliability
OneClickMoney is considered reliable, as it operates as a subsidiary of MoneyCat. MoneyCat, the parent company, is a licensed financing company in the Philippines, holding a Certificate of Authority to Operate issued by the Securities and Exchange Commission (SEC). The SEC Registration Number for MoneyCat is CS201953073, and its Certificate of Authority to Operate as a Lending Company (CA) Number is 1254.
How to Apply for a OneClickMoney Loan?
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Enter Personal Information. Begin the application form by providing your name, date of birth, and other relevant personal details.
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Enter Your Address. Provide accurate information about your current place of residence.
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Provide Job Information. Share details about your employment or freelance work for a financial assessment.
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Provide Your Relatives' Contacts. Include contact information for your relatives, which may be used for verification.
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List Your Bank Account. Input your bank account number, ensuring it is active and not dedicated to payroll transfers.
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Include Photos. Upload a photo of yourself and relevant identification documents for verification.
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Enter Your Phone Number. Input your telephone number for communication and notifications regarding your loan application.
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Read the Terms. Carefully review the loan term of the loan agreement and sign it through SMS to confirm your understanding and acceptance of the terms.
Conditions and Requirements
Conditions
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Loan Amount. Borrowers can avail themselves of loan amounts ranging from PHP 500 up to PHP 20,000. This flexibility allows individuals to select an amount that aligns with their specific financial needs.
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Loan Tenure. OneClickMoney offers a range of loan tenures, providing borrowers with options suited to their preferences and circumstances. The tenure can extend from a minimum of 90 days up to a maximum of 180 days, allowing for a personalized and manageable repayment period.
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Interest Rate. The interest rate for OneClickMoney loans is calculated at 0.03% per day or 11.9% per month. The Annual Percentage Rate (APR) is capped at a maximum of 145%. It's crucial for borrowers to be aware of these rates to make informed decisions regarding their financial commitments.
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First Loan Incentive. OneClickMoney offers an enticing incentive for first-time borrowers. The first loan comes with a 0% interest rate, providing users with the opportunity to experience the service without incurring any interest charges.
Requirements
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Valid ID. Applicants need to provide at least one valid identification card as part of the application process. This may include government-issued IDs such as a driver's license, passport, or other recognized identification documents.
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Personal Bank Account. A personal bank account is a prerequisite for the loan application. OneClickMoney exclusively transfers approved credit funds to a bank account registered in the applicant's name. The account must be active and not specifically opened for payroll transfers.
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Age Criteria. Applicants must fall within the age range of 22 to 60 years old to be eligible for a OneClickMoney loan.
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Citizenship and Residency. Only individuals with Philippine citizenship and a verified address of residence in the Philippines are eligible to apply for a OneClickMoney loan.
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Employment or Freelance Income. Applicants should either be employed or freelancers with a steady income to qualify for a OneClickMoney loan. This requirement ensures that borrowers have a reliable source of income for loan repayment.
Ways to Receive the Money
After confirming your agreement to sign contracts using the SMS OTP code provided by OneClickMoney, the disbursement process will be initiated. OneClickMoney will process your request, and the approved credit funds will be transferred to your designated bank account. You can receive money in your bank account within 24 hours after confirming your agreement through the SMS code.
Products
OneClickMoney primarily offers online financial solutions, focusing on providing accessible and convenient loan services. The main product offered by OneClickMoney is its online loan service. Users can apply for loans through the platform to address various financial needs. The specific features and terms of these loans include loan amounts ranging from PHP 500 to PHP 20,000, and flexible repayment periods.
The core product of OneClickMoney revolves around providing individuals with a quick and efficient way to secure financial assistance through an online lending platform. The emphasis is on user-friendly processes and timely disbursement of approved credit funds to meet the urgent financial requirements of borrowers.
Other Loans
- Online Loans. Quick Financial Solutions
- Personal Loans. Discover Your Ideal Financial Partner in the Philippines
- Cash Loans. Your Choices for Immediate Funds
- Quick Loans. Explore Rapid Financial Solutions
- Fast Approval Loans in the Philippines. Streamlined Financial Assistance
Reasons for Getting Rejected for a Loan
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Incomplete or Inaccurate Information. If the information provided during the application process is incomplete or contains inaccuracies, it may lead to the rejection of the loan application.
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Insufficient Income. OneClickMoney, like other financial institutions, assesses the applicant's income to determine their ability to repay the loan. If the income is deemed insufficient to cover the loan amount, the application may be rejected.
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Unstable Employment. Instability in employment, such as frequent job changes or periods of unemployment, may be a reason for loan refusal. Lenders typically prefer borrowers with a steady and reliable source of income.
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Age Restrictions. If the applicant does not meet the age criteria specified by OneClickMoney, such as being outside the age range of 22 to 60 years old, the loan application may be declined.
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Existing Debt. If the applicant already has a significant amount of existing debt, it may raise concerns about their ability to manage additional financial obligations, leading to a loan refusal.
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Failure to Meet Eligibility Criteria. Failure to meet specific eligibility criteria set by OneClickMoney, such as citizenship requirements or other specified conditions, can result in the rejection of the loan application.
How to Repay a OneClickMoney Loan?
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E-wallets. Utilize electronic wallets such as GCash to make seamless and quick repayments. This digital payment method provides a convenient way to settle your OneClickMoney loan.
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Over the counter. Visit authorized over-the-counter payment locations, including 7-Eleven, Cebuana Lhuillier, Bayad Center, and other designated outlets. These locations offer in-person payment options for added flexibility.
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Online banking and others. Leverage online banking services provided by financial institutions such as LandBank, Equicom Bank, and BDO. This method allows you to make repayments from the comfort of your own home or wherever you have access to online banking facilities.
Alternatives
JuanHand
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.
Cashalo
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.
SB Finance
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.
Online Loans Pilipinas
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.
Editorial Opinion
Important
How to Choose a Lender in the Philippines
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Ensure that the lender is registered with the Securities and Exchange Commission (SEC) of the Philippines.
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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.
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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.
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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.
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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.
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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 OneClickMoney and best practices, check out some of the following resources:
- Full OneClickMoney Account Review
- How to Apply for OneClickMoney Loan
- How to PayOff OneClickMoney Loan
- OneClickMoney Reviews
- All OneClickMoney Coupons and Promo for February 2025
Sources
- OneClickMoney 20.12.2023