The Peso Buffet Loan App has been making waves in the financial sector, promising a quick and convenient way for Filipinos to access much-needed cash. In this article, we aim to provide an in-depth analysis of the Peso Buffet Loan App, covering its features, eligibility requirements, interest rate calculations, user experiences, and more. By the end of this review, you should have a comprehensive understanding of whether Peso Buffet is a legitimate and reliable lending platform for those seeking personal loans in the Philippines.
Top 10 Fast Online Loans in Philippines – A Valid ID is All You Need Updated in July 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 |
Summary of Peso Buffet Loan
- Maximum Loan Amount: 1,000 – 10,000 PHP
- Age Requirement: 20 – 65 years old
- Loan Term: 1 – 12 months
- Interest Rate: 10 – 20 % per year
- Requirements: National ID
- Pros: Easy login process, no victimization reported
- Cons: Service fees apply
- Effectiveness Rating: Considered Good
- Bad Debt Tolerance: Defaults allowed
- Harassment: Some users report harassment via email
- Legitimacy: Confirmed by registration number CS201817516
- Payment Options: GCash, Maya, M Lhuillier, RD Pawnshop, and 7-11
- Contact: Email at Wlilkengcdeo@hotmail.com
- Download App APK: https://www.pesobuffettech.com/#Home
What is Peso Buffet Loan?
Peso Buffet Loan is an online lending application created by Copperstone Lending Inc., a reputable financial services provider based in the Philippines. The primary goal of this app is to provide quick and straightforward access to cash for Filipinos who are often underserved and unbanked. Through its online platform, Peso Buffet aims to simplify the borrowing process, making it more accessible than ever before.
Pros of Peso Buffet App
Customers who have used the Peso Buffet App report several advantages:
- Quick and hassle-free application process.
- Minimal documentation required when applying for a loan.
- Basic personal information and a government-issued ID are sufficient.
- Flexible payment terms ranging from 6 to 12 months.
- No penalty for early loan repayment.
Cons of Peso Buffet App
Despite its benefits, the Peso Buffet Loan App has its share of drawbacks:
- Loan amounts are limited, ranging from 2,000 PHP to 10,000 PHP.
- Substantial late payment fees of 10% apply to unpaid loans.
- Requires a co-maker with employment and financial stability.
- Eligibility is restricted to Filipino citizens with valid IDs.
Peso Buffet Maximum Loan and Term
Peso Buffet allows borrowers to access loans ranging from 2,000 PHP to 10,000 PHP, with first-time borrowers typically receiving lower loan amounts. However, responsible repayment can lead to higher loan limits in the future.
Peso Buffet Interest Rate
The interest rate offered by Peso Buffet is a subject of discussion. While the Securities and Exchange Commission (SEC) reports an interest rate of 60% per year, the Peso Buffet website states a range of 10% to 20% per year. Loan terms vary from 180 to 365 days, depending on the borrower’s choice.
Example of Peso Buffet Interest Rate Calculation
To illustrate how Peso Buffet calculates interest rates, consider this example:
- Borrowed Amount: PHP 10,000
- Loan Term: 6 months
- Monthly Interest Rate: 4.563%
Monthly interest calculation: 4.563% of PHP 10,000 = PHP 456.30 Total interest for a 6-month loan: PHP 456.30 x 6 = PHP 2,733.80 Total repayment amount: PHP 10,000 + PHP 2,733.80 = PHP 12,733.80
Peso Buffet Loan Requirements
Both first-time and repeat borrowers must meet the following requirements:
- Must be a Philippine citizen.
- Must be at least 18 years old.
- Must possess a government-issued ID.
- Must have a stable source of income.
Peso Buffet First Loan:
For first-time borrowers, the following documents are required:
- Government-issued ID
- Proof of employment
- Taxpayer Identification Number (TIN)
Peso Buffet 2nd Loan:
For subsequent loans, borrowers need to provide the following documents:
- Government-issued ID
- Proof of employment
- TIN
- Most recent statement of account (SOA)
Guide to Peso Buffet Loan Application Step-by-Step
Applying for a Peso Buffet Loan is a straightforward process:
- Step 1: Visit the official website: https://www.pesobuffettech.com/#Home
- Step 2: Click “APPLY NOW!” to download the Peso Buffet fast cash loan app.
- Step 3: Fill out the online form with your personal information.
- Step 4: Submit your application online or in-person at a physical branch.
- Step 5: Review the loan terms and conditions carefully before finalizing your application.
Reviews on Peso Buffet Loan and Feedback
Users have reported a quick and simple application process through Peso Buffet. Borrowers can check their loan eligibility and receive approval within minutes after submitting the required documents. However, it’s worth noting that some users have experienced technical issues and subpar customer service.
Peso Buffet Payment
Repaying a Peso Buffet Loan is straightforward:
- Step 1: Access the Peso Buffet App on your device.
- Step 2: Navigate to the payment options section.
- Step 3: Choose your preferred payment partner, such as GCash, Maya, M Lhuillier, RD Pawnshop, or 7-11.
- Step 4: Enter payment details, including the loan account number and payment amount.
- Step 5: Confirm the payment and keep a record of the confirmation receipt.
Compare Peso Buffet Loan to Other Apps
| Loan App | Peso Buffet | Acom App | Web Peso |
|---|---|---|---|
| Interest Rate | 10% – 20% per year | 3.315% – 4.563% per month | 9% – 12% per month |
| Loan Amount | Up to PHP 10,000 | Up to PHP 500,000 | Up to PHP 10,000 |
| Loan Term | Up to 6 months | Up to 6 months | Up to 3 months |
(Sources: State Bank reporting and research)
Peso Buffet Harassment
Reports of harassment by Peso Buffet have surfaced. Some borrowers have mentioned receiving numerous text messages and threats to ensure timely loan repayments. This has raised concerns about potential stress, embarrassment, or financial repercussions for those who struggle to meet repayment deadlines.
Peso Buffet Contact Information
- Phone Number: Not provided
- Email: Wlilkengcdeo@hotmail.com
Customers are advised to pay attention to Peso Buffet’s ID requirements and use the app responsibly.
Quick FAQs – Peso Buffet App
For more information about Peso Buffet Loan, refer to the following frequently asked questions:
Is Peso Buffet legit or not?
Yes, Peso Buffet is a legitimate lending company registered with the SEC.
How to pay Peso Buffet using GCash?
Follow the steps in the GCash app to make payments.
Is Peso Buffet SEC registered?
Yes, it is registered with the Philippine SEC under registration number CS201817516.
Conclusion
Peso Buffet Loan is a reliable and user-friendly choice for Filipinos in need of quick loans. The application process is straightforward, and interest rates are reasonable. However, borrowers should be aware of the maximum loan limit and its dependency on their credit history. It is essential to consider personal financial circumstances and repayment capabilities before using the app. Peso Buffet has emerged as a promising option, but responsible borrowing remains key to a positive experience.