PeraMoo: Online Peso Cash Loan Philippines

In the dynamic landscape of financial services in the Philippines, Peramoo Loan App has emerged as a prominent mobile banking solution offering individuals access to loans. In this in-depth review by CashExpress PH, we aim to scrutinize the legitimacy, regulatory compliance, and overall user experience of Peramoo Loan App. By dissecting the positive and negative aspects, we equip readers with the insights needed to make informed financial decisions in the year 2024.

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Peramoo Loan Information Overview

Let’s start by providing a holistic view of the key aspects related to Peramoo Loan App:

  • Review: Peramoo Loan App
  • Loan Details: Amount (PHP 2,000 – 10,000), Age (21 – 65), Term (3 – 12 months), Interest Rate (3% per month)
  • Requirements: Proof of income
  • Legitimacy: Yes (SEC Registration No.: CS201918391)
  • Payment: Online and OTC
  • Contact Number: 09656427875
  • Peramoo App APK Download: https://peramoo.com/

What is Peramoo Loan?

Peramoo operates as a peer-to-peer lending platform, revolutionizing the borrowing experience by allowing users to tap into a collective fund. The loan amount is determined by the borrower’s credit score and payment history, typically resulting in lower interest rates.

Peramoo Loan App Benefits

The Peramoo Loan App boasts several advantages for users:

  • Quick Application: The application process is expedited through digital means, providing swift responses to loan requests.
  • Real-time Tracking: Users can monitor the status of their loan application, ensuring transparency and timely disbursement of funds.
  • Inclusivity: Filipinos without a credit history or with a less-than-perfect credit score can access small loans to navigate financial challenges.
  • No Collateral Needed: Peramoo eliminates the requirement for collateral or a co-signer, mitigating the risk of losing personal property.

Cons of Peramoo Loan App

While Peramoo offers various benefits, there are also noteworthy drawbacks:

  • High Interest Rates: Many loan apps, especially catering to individuals with poor credit, may impose high-interest rates, potentially increasing the overall cost of loans.
  • Hidden Fees: Some users may encounter unclear terms and conditions, leading to unexpected fees. Thoroughly reviewing the fine print is crucial.
  • Privacy Concerns: In the absence of robust data protection measures, sharing personal and financial information with loan apps may pose privacy and security risks.
  • Debt Trap Risk: The ease of borrowing through apps could potentially result in individuals falling into a cycle of debt if not managed carefully.
  • Loan Amount Limits: Some users might find the imposed limits on loan amounts inadequate for their financial needs.

Interest Rate of Peramoo Loan

Peramoo imposes a 3% per month interest rate on loans, a competitive rate compared to other online banking apps. However, it’s crucial to consider additional fees that impact the overall cost of borrowing.

Example of Peramoo Loan App Calculator

To illustrate the financial implications, let’s consider an example:

  • Loan Amount: $5,000
  • Annual Interest Rate: 10%
  • Loan Term: 2 years (24 months)

Using the EMI formula, the monthly payment is approximately $230.56, resulting in a total repayment of $5,533.44 over the loan period.

Peramoo Loan Requirements

For individuals considering Peramoo loans, certain eligibility criteria must be met:

  • Filipino Citizenship: Applicants must be Filipino citizens.
  • Age Requirement: Minimum age of 18 years.
  • Steady Income: A stable job or a regular source of income is essential.
  • Valid ID: Accepted identification documents include a passport, driver’s license, UMID, or SSS card.

How to Apply for Peramoo Loan

A step-by-step guide is provided for a seamless application process:

  • Step #1: Download the App
  • Step #2: Create an Account
  • Step #3: Complete the Loan Application
  • Step #4: Submit Required Documentation

Home Credit Cash Loan Disbursement

For users considering Home Credit cash loans, a detailed process is outlined, covering approval, loan agreement, disbursement methods, repayment options, and customer service support.

Peramoo Online Review and Feedback

Peramoo enjoys a positive rating of 4.5 stars on the Google Play Store, reflecting its utility and efficiency in providing timely financial assistance. While acknowledging its benefits, users are cautioned about potential technological glitches and service issues.

Peramoo Harassment

Reports have surfaced concerning negative experiences with Peramoo, particularly related to debt collection practices. Borrowers have alleged frequent calls, rudeness, and aggressive tactics from collection agents. The review acknowledges these issues and emphasizes the need for resolution.

Peramoo Customer Service

Contact details for Peramoo’s customer service are provided, including a phone number (09656427875) and email (permoo.cs@gmail.com).

Frequently Asked Questions

Explore the commonly asked questions below to gain more insights into the Peramoo loan service:

1. Is Peramoo a legitimate platform?

Certainly, Peramoo is a bona fide online platform that provides a range of services, including web design, development, and digital marketing. While concerns may arise about its authenticity, there is no concrete evidence to suggest that the company is anything other than genuine.

2. Is Peramoo registered with the SEC?

Yes, Peramoo operates under the name Magician of Money Lending Corp. The company is responsible for the development and operation of the Peramoo app. As of November 7th of this year, it is duly registered with the Philippine Securities and Exchange Commission (SEC) under the registration number CS201918391 for SEC firm Registration.

3. How can I delete my Peramoo account?

To delete your Peramoo account and have your personal information removed from our system database, please contact us at permoo.cs@gmail.com. It’s important to note that certain information, such as your usage patterns of our services, may still be retained in our database even after your account deletion request has been processed.

Conclusion

Summarizing the review, Peramoo Loan App emerges as a swift and efficient avenue for users seeking short-term financial solutions. While the advantages are highlighted, readers are reminded to scrutinize the app’s terms, interest rates, and fees. Responsible borrowing aligned with individual financial needs and goals is strongly encouraged to foster a positive borrowing experience. In navigating the dynamic financial landscape, staying informed and vigilant remains paramount.

5/5 - (3 votes)

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