Easypeso Loan is a renowned mobile wallet and fintech platform in the Philippines that offers quick and easy access to loans. In this review, CashExpress PH will delve into the various aspects of this app, providing you with valuable insights to help you make an informed decision in 2023.
Summary of Easypeso Loan App Philippines
|✅ Review:||⭐ Easypeso Loan App|
|✅Guide to:||⭐ Applying for a Loan with Easypeso Loan App in the Philippines|
|✅ Maximum Loan:||⭐ 1000 – 10,000 PHP|
|✅ Age Requirement:||⭐ 21 – 65 years old|
|✅ Loan Term:||⭐ 1 – 6 months|
|✅ Interest Rate:||⭐ 24% per year|
|✅ Requirements:||⭐ National ID|
|✅ Payment Options:||⭐ GCash, Maya, M Lhuillier|
|✅ Contact Number:||⭐ 09664171884|
|✅ Easypeso Loan APK Download:||⭐ www.easypeso.ph|
|✅ Registration Number:||⭐ CS201817516|
What is Easypeso?
Easypeso is a highly reputable fintech platform in the Philippines, providing a safe and convenient solution for people to access loans quickly. The app boasts low-interest rates and offers various repayment options, making it a reliable choice for borrowers.
Easypeso Loan App Benefits
Here are some of the key benefits highlighted in Easypeso Loan reviews:
- Convenience: Loan applications can be easily completed and managed using your smartphone or tablet.
- Speed: Easypeso Loan App ensures swift approval and disbursement, allowing you to access funds promptly.
- Accessibility: The app is available 24/7, enabling users to apply for loans or check their accounts at their convenience.
- Transparency: Easypeso Loan App provides clear information about loan terms, interest rates, and fees, helping borrowers make informed decisions.
- Flexibility: Easypeso offers a variety of loans tailored to different financial needs.
- Credit Building: Timely repayments through Easypeso can positively impact your credit score.
Cons of Easypeso Loan
While Easypeso Loan App offers numerous advantages, it is essential to consider the potential drawbacks:
- High Interest Rates: Some loan apps may have higher interest rates compared to traditional bank loans or credit cards.
- Hidden Fees: In some cases, hidden fees may increase the total cost of borrowing.
- Debt Traps: The ease of obtaining loans through apps can lead some individuals into a cycle of debt.
- Privacy and Security Concerns: Providing personal and financial information to loan apps can be risky if they lack robust security measures.
Easypeso Pro Cash Online Loan Interest Rates
Easypeso Pro Cash Online Loan offers competitive interest rates, with rates not exceeding 24% per year. Additional fees, such as processing fees and loyalty fees, may apply, but they are comparable to other loan companies in the Philippines.
Easypeso Loan Calculator
To illustrate the loan calculation, let’s assume you wish to borrow 10,000 pesos from Easypeso Loan App with a 10% annual interest rate and a 12-month repayment term. The monthly installment can be calculated as follows:
Monthly Interest Rate = 10% / 12 = 0.8333% Number of Monthly Payments (n) = 12 months Monthly Payment (PMT) = [10,000 * 0.008333 * (1 + 0.008333)^12] / [(1 + 0.008333)^12 – 1] PMT ≈ 903.74 pesos (rounded to the nearest cent)
Your monthly installment for a 10,000-peso loan from Easypeso, with a 10% annual interest rate and a 12-month term, would be approximately 903.74 pesos.
Easypeso Loan App Requirements
To qualify for Easypeso loans, you must meet the following requirements:
- Age Eligibility: You should be of legal age, typically 18 years or older.
- Identification: A valid government-issued photo ID, such as a passport, driver’s license, or national ID card, is typically required for identity verification.
- Proof of Income: Most loan apps require evidence of a stable source of income, such as payslips or bank statements.
- Bank Account: An active bank account in your name is usually necessary.
- Residency: Some loan apps may require you to be a resident of the country where you are applying for the loan.
Guide to Apply for Easypeso Loan App – Step by Step
Here is a step-by-step guide to applying for a loan with Easypeso Loan App:
Step #1: Download the Easypeso App
- Visit your device’s app store (Google Play or Apple App Store).
- Search for “Easypeso” and download the official app.
- Install the app on your device.
Step #2: Register for an Account
- Open the Easypeso app after installation.
- Sign up by providing requested information, typically your phone number, email, and password.
- Use the verification code sent to your phone or email to verify your account.
Step #3: Complete Your Profile
- Fill out your profile with personal information, including your full name, date of birth, and address.
Step #4: Submit Required Documents
- Easypeso may request certain documents for identity and creditworthiness verification, such as a government-issued ID, proof of address, and income documents.
- Follow the app’s instructions to securely upload these documents.
Step #5: Apply for a Loan
- Once your profile is complete and your documents are verified, you can apply for a loan within the app.
- Specify the loan amount and repayment terms.
- Review the loan terms, interest rates, and any associated fees.
- Submit your loan application.
- The Easypeso team will review your request, and if approved, the loan amount will be deposited into your linked bank account or mobile wallet.
Easypeso Loan Disbursement
The loan disbursement process with Easypeso typically follows these steps:
- Loan Approval: After applying for a loan, you will receive a notification confirming the approval.
- Confirmation of Disbursement: Easypeso will send a confirmation notification that includes details about the loan disbursement, specifying the disbursement date and the exact amount to be transferred.
- Loan Disbursement: On the scheduled disbursement date, Easypeso initiates the transfer of the approved loan amount to your linked bank account or mobile wallet, typically through electronic means.
- Repayment Reminder: Easypeso may provide you with a repayment schedule, including due dates and installment amounts. Ensure your linked account has sufficient funds to cover the repayments.
Easypeso Loan Reviews and Feedback
Easypeso Loan App offers rapid loan approval and convenient access to loans throughout the Philippines, often within 24 hours. Applicants can determine their loan eligibility and receive approval within minutes after submitting the required documents. However, it’s crucial to be aware of potential technological issues and service quality concerns.
Easypeso Loan Payments
The main steps for making loan payments through the Easypeso app include:
- Loan Contract and Repayment Plan: Once your loan application is accepted, Easypeso will provide you with a loan agreement specifying due dates, payment amounts, and the total repayment amount.
- Methods of Payment: Easypeso typically offers multiple payment options, including direct debit, mobile banking, and over-the-counter payments at physical payment centers.
- Reminders to Pay: Easypeso may send notifications or emails to remind you of upcoming payment due dates. Pay attention to these alerts to ensure timely payments.
- Payments by Hand: If you choose direct debit as your payment method, Easypeso will automatically deduct the installment amount from your linked bank account on the due dates. Ensure sufficient funds are available in your account for these scheduled withdrawals.
Compare Easypeso Loan App to Other Apps
Here’s a comparison of Easypeso Loan App with other popular loan apps:
|Loan App||Easypeso Loan App||Digido Loan||Gcash Loan|
|Interest Rate||24% per year||12% and 20%||1.59% – 6.57%|
|Loan Amount||Up to PHP 10,000||Up to PHP 25,000||Up to PHP 150,000|
|Loan Term||Up to 6 months||Up to 12 months||Up to 12 months|
Easypeso Loan Customer Service
For any inquiries or assistance, you can contact Easypeso Loan App using the following information:
- Phone Number: 09664171884
- Email: firstname.lastname@example.org
- Address: Net Cube Plaza, 30th St. Cor 3rd Ave., Bonifacio Global City, Taguig City, Philippines 1643
FAQs – Easypeso Loan App Philippines
For additional information about Easypeso Loan, here are some frequently asked questions:
Is Easypeso Loan Legit?
Yes, Easypeso is a legitimate loan tool in the Philippines, known for providing personal loans quickly and easily. However, it’s essential to be aware that loan terms and interest rates may vary based on your creditworthiness and other factors.
Is Easypeso Loan SEC Registered?
Yes, by law, financial companies operating in the Philippines must obtain approval from the Securities and Exchange Commission (SEC). You can verify their registration on the official SEC website: CS201817516.
Easypeso Loan App offers a convenient and accessible solution for individuals in need of financial assistance. While the application process and terms may vary, the app is user-friendly and provides quick approval. However, it’s crucial to stay informed about the latest changes and loan terms, taking interest rates and repayment conditions into account when borrowing wisely. Easypeso Loan is a legitimate option for those seeking quick financial support in the Philippines.