If you’re considering using the Digido Loan App in the Philippines, you might have several questions about its legitimacy, customer experiences, and specific details about the interest rates and payment options. This article aims to provide a thorough review based on information compiled from our website:
Top 10 Fast Online Loans in Philippines – A Valid ID is All You Need Updated in November 2024
| Rank | Lender Name & Application Link | Loan Amount | Loan Term | Interest Rate | Repayment | ID Required | Age Range | Special Feature |
|---|---|---|---|---|---|---|---|---|
| #1 |
SOSCREDIT |
₱1,000 – ₱25,000 | 3 – 12 months | 0% for first loan | Monthly or End of term | Only ID Card required | 20 – 70 | Receive money in 15 mins |
| #2 |
CREDIFY |
₱1,000 – ₱25,000 | 3 – 12 months | 0% for first loan | Monthly or End of term | Only National ID required | 20 – 70 | Receive money in 15 mins |
| #3 |
CREZU |
₱1,000 – ₱25,000 | 2 – 4 months | 0% for first loan | Monthly or End of term | Only ID Card required | 18 – 70 | Easy loan approval |
| #4 |
FINBRO |
₱1,000 – ₱50,000 | 1 – 12 months | 0% for first loan | Monthly or End of term | Only ID Card required | 20 – 65 | Receive money in 10 mins |
| #5 | CREDITIFY Apply Now |
₱1,000 – ₱25,000 | 1 – 180 days | 0.1% | Monthly or End of term | Only ID Card required | All accepted | Approve Bad credit |
| #6 | CASHSPACE Apply Now |
₱1,000 – ₱25,000 | 2 – 4 months | 0% for first loan | Monthly or End of term | Only ID Card required | 18 – 70 | Easy loan approval |
| #7 | DIGIDO Apply Now |
₱1,000 – ₱25,000 | 3 – 6 months | 0% for 7 days | Monthly or End of term | Only ID Card required | 21 – 70 | Receive money in 4 mins |
| #8 | KVIKU Apply Now |
₱500 – ₱25,000 | 60 – 180 days | 1.2% per month | Monthly or End of term | Only ID Card required | 18 – 65 | Receive money in 5 mins |
| #9 | CASHEXPRESS Apply Now |
₱1,000 – ₱20,000 | 7 – 30 days | 0% for first loan | End of term | Only ID Card required | 21 – 70 | Receive money in 5 mins |
| #10 | MONEYCAT Apply Now |
₱500 – ₱20,000 | 7 – 180 days | 0% for first loan | End of term | Only ID Card required | 22 – 65 | Easy loan approval |
Overview of Digido Loan
- Rating: ⭐ 4.6 stars
- Loan Amount: PHP 1,000 – PHP 25,000
- Eligible Age: 21 – 70 years old
- Repayment Term: 3 – 6 months
- Interest Rate: 0% for first-time borrowers
- Requirements: Valid National ID
- Pros: Reputable lending company, allows partial payments, quick disbursement
- Cons: Late payment fees apply
- Overall Effectiveness: Good
- Debt Management: Allows for manageable repayment
- Complaints: Minimal reported issues
- Download Link for Digido App: digido.ph
- Customer Service Hotline: (02) 8876-84-84
- Harassment Issues: Reported by some customers via phone and email
- SEC Registration: Yes
What is Digido?
Digido is one of the pioneering 24-hour online lending services in the Philippines, designed to provide quick and hassle-free loans without the burden of extensive documentation. With just an internet-enabled device, borrowers can access funds ranging from PHP 1,000 to PHP 30,000, with flexible repayment options of 3 to 6 months. For new customers, the first loan can be as much as PHP 10,000, which can be disbursed within a week.
Advantages of the Digido Loan App
The Digido Loan App stands out for several reasons:
- Convenience: Apply for a loan anytime and anywhere using your computer or mobile phone with an internet connection. The registration process is straightforward and quick.
- Accessibility: Available 24/7, including weekends and public holidays.
- Minimal Requirements: Only a valid ID is needed to proceed with the loan process, eliminating the need for asset deposits, guarantors, or proof of income.
- Automated Approval: The app utilizes an automated system to ensure objective and reliable loan approvals.
- High Approval Rates: With a loan approval rate exceeding 90%, borrowers have a substantial chance of obtaining the financial support they need.
- Transparent Fees: There are no hidden charges or upfront fees; borrowers will only repay the agreed amount.
- Flexible Payment Options: Various payment methods are available, tailored to individual circumstances and preferences.
- Data Security: Customer information is kept strictly confidential, ensuring secure transactions.
Disadvantages of the Digido Loan App
Despite its many benefits, there are some downsides to consider:
- Loan Limits: The maximum loan amount may not be sufficient for larger financial needs or significant investment projects.
- Short Repayment Terms: The limited repayment period may create financial pressure on some borrowers.
- Higher Interest Rates: Compared to traditional loan services, interest rates can be steeper, particularly for individuals with poor credit histories.
Interest Rates at Digido
The Digido Loan App applies an average interest rate of 11.9% per month, with a maximum annual percentage rate (APR) of 143%. To encourage first-time borrowers, Digido offers an attractive 0% interest rate on the first loan taken within a seven-day period, allowing new customers to experience the service without incurring interest.
Example Calculation Using Digido Loan Calculator
To illustrate the potential costs, let’s assume you borrow PHP 10,000 for two months at an interest rate of 12% per month. The calculations would be as follows:
- Monthly Principal Payment: PHP 5,000
- Monthly Interest Payment: PHP 10,000 x 12% = PHP 1,200
- Total Amount Payable Each Month: PHP 5,000 + PHP 1,200 = PHP 6,200
Eligibility Requirements for Digido Loans
To qualify for a loan through Digido, you must meet the following criteria:
- Age: Must be a Filipino citizen aged between 21 and 70 years.
- Income Stability: Demonstrated ability to repay the loan is required.
- Identification: A valid government-issued ID, such as an ITR, COE, DTI, or company ID, is necessary.
Applying for Your First Digido Loan
For first-time applicants, simply fill out the personal information form on the Digido website and upload a photo of your ID for verification.
Applying for a Second Digido Loan
For subsequent loans, log into your existing account, select your desired loan amount, and if previous payments were made on time, you will likely receive quick approval.
Steps to Apply for a Digido Loan
Follow these steps to successfully apply for a loan:
Step 1: Visit the Digido Homepage
Access the Digido website or download the app from the app store. Choose your desired loan limit and enter your contact number. Agree to the terms and conditions by clicking “Apply Now.”
Step 2: Verify Your Phone Number
Digido will send a one-time authentication code (OTP) to your registered phone number. Enter this code to confirm your number and agree to the terms outlined.
Step 3: Complete Your Personal Information
Fill out all required personal information accurately, including your full name, date of birth, email address, and employment details. Provide your bank account or e-wallet details for disbursement and payment, and upload a photo of your ID.
Step 4: Await Approval and Disbursement
The automatic approval process takes approximately 5 minutes. Once approved, the loan amount will be disbursed the same day to the account or e-wallet you provided.
Customer Reviews of Digido Loans
Customers often describe Digido Loan as more than just a financial service; it’s viewed as a reliable partner in managing urgent financial needs swiftly and conveniently.
Payment Options for Digido Loans
Digido offers several flexible payment methods, including:
- Bank Transfers: Make payments directly to the specified account.
- Online Banking: Utilize services from banks like Union Bank, BDO, BPI, and others.
- Cash Payments: Pay at partner locations such as 7-Eleven, ECPay, and Robinsons.
- E-Wallet Payments: Use platforms like Coins.ph or Cebuana Lhuillier for payment.
Comparing Digido Loan App with Other Services
| Criteria | Digido App | Finbro PH | Unacash App |
|---|---|---|---|
| Loan Limits | PHP 1,000 – PHP 30,000 | PHP 1,000 – PHP 50,000 | PHP 1,000 – PHP 50,000 |
| Interest Rate | 0.4%/day | 0.5% – 1.25%/day | 2% – 6%/month |
| Repayment Term | 3 – 6 months | 1 – 12 months | 0% – 16%/month |
| Age Requirement | 21 – 70 years old | 20 – 65 years old | Over 18 years old |
| Browsing Time | 5 minutes | 15 minutes | 15 minutes |
Sources: Based on reports and research from various financial institutions.
Customer Service for Digido in the Philippines
If you need assistance, here’s how to contact Digido:
- Company Name: Digido Finance Corp.
- Branches: None
- Website: digido.ph
- Customer Support: (02) 8876-84-84
- Address: Units P107003R, P107007R, P107008R, Level 7 Cyberpark Tower 1, 60 Gen. Aguinaldo Ave., Cubao, Quezon City, Philippines 1109
Frequently Asked Questions About Digido Loan App
Is Digido Legitimate?
Yes, Digido operates legally within the Philippines. It is regulated by the Securities and Exchange Commission (SEC) and the National Bank of the Philippines, offering customers peace of mind when accessing their financial services.
Is Digido Registered with SEC?
Digido has received certification from the SEC, holding registration number CS202003056 and authority certificate number 1272. This registration ensures that Digido meets all legal requirements and provides transparency in its financial dealings.
Does Digido Conduct Field Visits?
Digido does not conduct in-person verification or field visits. Loan approvals rely on the borrower’s credit history, personal information, and the automated system. Be aware that late payments can result in high-interest penalties and potential harassment from the company.
Conclusion
If you find yourself in need of urgent financial assistance, the Digido online loan service may be worth considering. It is a fully legitimate financial service that offers loans up to PHP 30,000 with a unique 7-day interest-free period for first-time borrowers.
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