Review of Pesoredee Loans: Legitimacy, Repayment, and More (2024)

In the rapidly evolving landscape of financial services, quick access to loans has become a common need for many individuals. Pesoredee, a revolutionary Fintech platform developed by Peso Redee Financing Inc., offers Filipinos a unique opportunity to secure fast loans without the hassles of in-person meetings or extensive field appraisals. This review aims to provide a thorough analysis of the pros and cons associated with applying for a Pesoredee loan, equipping you with the knowledge needed to make an informed financial decision in 2024.

Don’t overlook:

Top 10 Fast Online Loans in Philippines – A Valid ID is All You Need Updated in April 2024 

Rank Lender Name & Application Link Loan Amount Loan Term Interest Rate Repayment ID Required Age Range Special Feature
#1

SOSCREDIT
Apply Now

₱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
Apply Now

₱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
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
#4

FINBRO
Apply Now

₱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 Pesoredee

  • Loan Amount: Ranging from 1000 to 20,000 Pesos
  • Eligibility: Applicants must fall within the age bracket of 22 to 70 years old
  • Loan Term: Enjoy flexible repayment terms spanning 3 to 6 months
  • Interest Rate: Secure your first loan at a 0% interest rate
  • Pros: Reputed for legitimacy and courteous follow-up
  • Cons: A mandatory login requirement and not a 0% interest loan app
  • Effectiveness: Pesoredee is recognized as a reliable and effective financial solution
  • Bad Debt Acceptance: Pesoredee is open to applications from individuals with a history of bad debt
  • Customer Feedback: For detailed insights, delve into our extensive reviews
  • Apply Now: To kickstart your financial journey with Pesoredee, visit the Pesoredee Website

What is Pesoredee?

Pesoredee is an innovative online financial service provider, powered by cutting-edge Fintech technology. Developed by Peso Redee Financing Inc., Pesoredee specializes in delivering lightning-fast loans that cater to the diverse financial needs of Filipinos. With Pesoredee, the need for time-consuming in-person meetings or cumbersome field appraisals is eliminated. Loan amounts range from 1000 to 30,000 pesos, and the repayment period can be tailored to last anywhere from 3 to 6 months. For first-time borrowers, the maximum loan limit stands at a competitive 7000 pesos.

Pros of Pesoredee Philippines

When it comes to the advantages offered by Pesoredee loans, the list is impressive:

  • No proof of income, collateral, or guarantor is required, making the application process hassle-free.
  • The convenience of online registration is available 24/7, including weekends and holidays, ensuring that support is always within reach.
  • Securing a Pesoredee loan is as simple as presenting a single valid ID.
  • Applications are processed automatically and swiftly, with approval typically granted within just 5 minutes.
  • Pesoredee is committed to transparency, with all costs and interest rates disclosed upfront, allowing borrowers to make informed decisions.
  • In cases where funds are insufficient for repayment, customers have the option to extend the payment period by 14 days.
  • The confidentiality of personal information is treated as a top priority, ensuring the utmost security for borrowers.

Cons of Pesoredee Loan App

In addition to the numerous advantages, Pesoredee also comes with some limitations:

  • Applicants should be aware of additional service fees when applying through the online loan website.
  • The loan limits, though competitive, may not meet the requirements of those seeking larger loan amounts.
  • High interest rates and short-term repayment periods might not be suitable for all borrowers.

Pesoredee Interest Rate

Pesoredee’s online loan interest rates typically average around 11.9% per month, with a maximum annual APR of 143%. Notably, first-time borrowers enjoy an attractive interest-free offer when they repay the full loan amount on the initial due date.

Example of Pesoredee Interest Rate Calculation

For a more concrete understanding, let’s consider an example. Suppose a customer applies for a Pesoredee app loan with a limit of 10,000 pesos for a 3-month period. In this scenario, the APR would be calculated at 143%, resulting in a total payable amount of 13,570 pesos, with monthly installments amounting to 4,523 pesos.

Pesoredee Loan Requirements

Eligibility criteria for Pesoredee loans dictate that applicants must be Filipino citizens, falling within the age range of 22 to 70 years old, and possessing stable employment. Additionally, an e-wallet or bank account is a prerequisite for receiving disbursements.

Guide to Pesoredee Loan Application Step-by-step

Embarking on your journey to secure a Pesoredee loan is a straightforward process. Here’s a step-by-step guide to help you navigate the application process with ease:

  • Step #1: To initiate the application process, access Pesoredee’s home screen. If you’re applying via a computer, visit the Pesoredee website. Alternatively, if you’re opting for the Pesoredee loan app, simply download it. Select the loan amount that aligns with your financial needs and click “Apply.”
  • Step #2: Verify your personal phone number by entering it. The system will send an OTP via SMS. Subsequently, carefully read Pesoredee’s terms and conditions, and if you agree, click “Accept” to kickstart the loan application process.
  • Step #3: Provide essential personal information, including your full name, gender, email, date of birth, and address.
  • Step #4: Capture a clear photo of one of the valid IDs listed below to facilitate the verification of your personal information:
    • Driver’s license
    • PhilHealth ID
    • PRC ID
    • UMID card
    • GSIS ID
    • PhilSys ID
    • SSS ID
    • Voter’s ID
    • Passport
    • Postal ID
    • TIN ID
  • Step #5: To facilitate disbursements, enter your personal bank account number or e-wallet information.
  • Step #6: Sit back and relax as the system processes your application, typically granting approval within a mere 5 minutes. On the same day, the funds will be transferred to the bank account number or e-wallet you provided.

For a visual guide on applying for a loan via Pesoredee, consider referring to our video tutorial.

Pesoredee Repayment

Repaying your Pesoredee loan is a straightforward process, offering borrowers three convenient methods:

  • Pay via GCash or Coins.ph Wallet: Start by selecting “Pay Bills,” then proceed to “Loans.” From there, select “Dragon Loans” and fill in the reference number, contact number, and payment amount.
  • Pay in Cash at Payment Centers: Pesoredee allows borrowers to pay in cash at various payment centers, including 7-Eleven, Cebuana Lhuillier, SM, Paymaya, and Shopee Pay.
  • Direct Payment via Pesoredee’s Personal Account Section: Log in to your Pesoredee PH account and follow the on-screen instructions to make a direct payment.

Compare Pesoredee Loan App Philippines with Other Loan Apps

When considering Pesoredee as a financial solution, it’s essential to compare it with other loan apps available in the Philippines. To assist you in making an informed choice, we’ve compiled a quick comparative analysis:

Comparative Criteria Pesoredee App Digido App Finbro PH
Limits 1,000 – 30,000 pesos 500 – 30,000 pesos 1,000 – 50,000 pesos
Interest 0.4%/day 0.4%/day 0.5% – 1.25%/day
Tenor 3 – 6 months 3 – 6 months 1 – 12 months
Age 22 – 70 years old 21 – 70 years old 20 – 65 years old
Browsing Time 10 minutes 5 minutes 15 minutes

This table provides a comparative overview of the Pesoredee Loan App in the Philippines in comparison to two other loan apps, Digido App and Finbro PH, based on various criteria such as loan limits, interest rates, tenor, eligible age, and browsing time.

Pesoredee Customer Service in the Philippines

For any inquiries or assistance you may require, Pesoredee is readily available to assist you. Here are the essential contact details:

  • Address: Unit 204 Pacific Center Condominium, 33 San Miguel Ave, Brgy. San Antonio, Pasig.
  • Reference Number: 02453348509
  • Email Address: pesoredee.cs@gmail.com
  • Operating Hours: Pesoredee’s dedicated customer service operates from 8 am to 5 pm, Monday to Friday.

FAQs – Pesoredee Loan App in Philippines

Here, we address some of the frequently asked questions regarding Pesoredee loans:

Is Pesoredee Legitimate?

Yes, Pesoredee operates with full legality, holding registration number CS201804564 from the Securities and Exchange Commission (SEC) and Certificate of Authority #1165. Furthermore, Pesoredee is registered with the National Privacy Commission, showcasing its commitment to data privacy and security regulations.

How to Pay Pesoredee Using GCash?

To facilitate payment via GCash, follow these steps: [Insert step-by-step guide]

Is Pesoredee SEC Registered?

Indeed, Pesoredee boasts SEC registration under the number CS201804564.

What is the Pesoredee Customer Service Number?

You can connect with Pesoredee by dialing 02453348509 or by reaching out via email at pesoredee.cs@gmail.com. Their customer service operates between 8 am and 5 pm, from Monday to Friday.

14. In Conclusion – Should You Apply for a Pesoredee Loan in the Philippines?

As we draw this comprehensive review to a close, it’s vital to consider whether a Pesoredee loan is the right choice for your financial needs in the Philippines. Pesoredee stands as a legally operated online lender, offering loan amounts that extend up to a competitive 30,000 pesos. First-time borrowers can take advantage of interest-free options, making it an attractive prospect for those new to the platform.

Customers have consistently praised Pesoredee for its exceptional service, straightforward procedures, swift approval processes, rapid disbursement of funds, and flexible repayment methods. If convenience and efficiency in securing a loan align with your requirements, Pesoredee may be the ideal financial partner for you in 2024. Apply today, embark on your financial journey with confidence, and experience firsthand the convenience and effectiveness of Pesoredee.

For the most current terms and conditions, we recommend visiting the official Pesoredee website. Making informed financial decisions is crucial, and Pesoredee is here to help you achieve your financial goals.

Check out other online loans in Philippines (April 2024)

 
Online Loan
Interests
Loan Amount
Loan Term
Borrower Age
SEC License
APR 143%
₱1,000 - ₱25,000
from 3 to 6 months
21 -  70 years
SEC Registration No. 202003056. Certificate of Authority No. 1272
APR 145%
₱500 - ₱20,000
from 3 to 6 months
22+ years
Certificate of Authority To Operate Number: 1254
from 0%
₱1,000 - ₱20,000
from 10 days
22 - 70 years
Registration № CS201726430, CA №1181
0.16% per day
₱500 - ₱25,000
from 2 to 6 months
20 - 55 years
SEC Registration No. CS201918702. Certificate of Authority No. 3169, NPC Registration No. PIC-001-791-2021
APR 84%
₱5,000 - ₱50,000
from 6 to 24 months
18+ years
APR 365%
₱1,000 - ₱20,000
7 or 14 days
18+ years
Company Registration No. CS201951088 and Certificate of Authority No. 2918
₱5,000 - ₱25,000
from 6 to 12 months
18 - 68 years
Reg No. CS201602333
APR 143%
₱1,000 - ₱20,000
22 - 70 years
Registration № CS201804564
APR from 0% to 427%
₱500 - ₱25,000
from 3 to 12 months
18+ years
Latvian business number 43603085405
APR from 4% to 916%
₱1,000 - ₱25,000
from 3 to 12 months
18+ years
from 0%
₱1,000 - ₱50,000
up to 12 months
20 - 65 years
SEC Registration No. CS201908275 SEC Certificate of Authority No. 2990
APR from 30% to 365%
₱500 - ₱25,000
from 91 days to 2 years
18+ years
from 0%
₱1,000 - ₱25,000
18 - 70 years
registration number: 14523902
from 0%
₱1,000 - ₱25,000
18+ years
registration number: 14523902
APR from 4% to 916%
₱1,000 - ₱25,000
from 30 days
18+ years
1.3% per day
₱1,000 - ₱30,000
from 30 days
20 - 65 years
CS20200000915
APR from 0% to 427%
₱500 - ₱25,000
from 3 to 12 months
18+ years
43603085405
APR 180%
₱1,000 - ₱25,000
from 3 to 12 months
20+ years
APR up to 180%
₱1,000 - ₱25,000
from 3 to 12 months
20+ years
5/5 - (6 votes)

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