Asteria Lending Inc. is a renowned online financial lending organization specializing in personal and business loan financing and lending. With a strong focus on the Philippines market, Asteria Lending offers some of the most competitive rates for online lending. In this comprehensive review, we will delve into the features, interest rates, requirements, rules of registration, and loan repayment methods provided by Asteria. Additionally, we will provide detailed instructions on how to apply for a microloan on their website, www.asteria.com.ph.
Asteria Lending Inc. is a Makati-based fully licensed company registered with the Securities and Exchange Commission (SEC). Since its establishment in February 2016, the company has been dedicated to providing personal loans in the Philippines. They cater to individuals with low income, negative credit history, or insufficient collateral assets, as well as small firms requiring funds rapidly. One of the key advantages of Asteria is its flexible lending options, allowing borrowers to repay loans within as little as ten days or opt for a longer repayment period of up to six months.
Pros and Cons
Before considering applying for a personal loan from Asteria, it is essential to assess both the advantages and disadvantages associated with their services.
- Quick turnaround time for loan applications: Asteria Lending is known for its efficient loan application process, ensuring that borrowers can receive funds promptly.
- Unsecured debt: Unlike traditional loans that often require collateral, Asteria offers unsecured loans, eliminating the need for borrowers to put their assets at risk.
- Low interest rates: Asteria provides some of the most competitive interest rates in the market, ensuring that borrowers can access funds at affordable rates.
- Minimum creditor responsibilities: The loan repayment process is straightforward, and borrowers have minimal responsibilities, making it easier to manage their financial obligations.
- Disbursement of the loan is within 24 hours: Asteria ensures that once a loan is approved, the funds are disbursed to the borrower’s account within 24 hours, allowing for quick access to the required funds.
- Limited coverage area: One of the drawbacks of Asteria is that its services are primarily available to Metro Manila inhabitants and residents of adjacent provinces and cities. This limits access to individuals living outside the covered areas.
- Potential complexity of the application process: Some customers have reported that applying for a personal loan with Asteria is not as simple as initially advertised. It is important to be aware of the potential challenges that may arise during the application process.
Asteria provides personal loans to a wide range of individuals, including employees, self-employed individuals, professionals, and government servants in the public sector. To be eligible for a personal loan, applicants must meet certain criteria. They must be Filipino citizens aged between 20 and 60 years old. Additionally, they must have a valid bank account in their name, a working phone number, and an email address. Individuals must be employed, self-employed, or engaged in a professional occupation, with a minimum monthly gross income of at least ₱10,000.
Applying for a Loan
To apply for a loan with Asteria, individuals can visit their official website, www.asteria.com.ph, and click on the “Apply Now” button. This will redirect them to the application registration page. It is essential to complete all the required fields accurately and thoroughly. During the final step of the application process, applicants will need to upload the necessary documents to verify their eligibility and fulfill the loan requirements. Asteria Lending will then conduct the verification process and notify applicants regarding loan approval or provide instructions for repayment. To meet Asteria’s basic requirements, applicants should ensure they upload the following documents during the final phase of the application:
- One primary ID (such as UMID, New TIN ID, New PhilHealth ID, or Driver’s License)
- A company ID
- Two months’ latest payslips
- Proof of billing
- A bank-verified account proof in the applicant’s name
Frequently Asked Questions (FAQ)
What services does Asteria Lending provide?
Asteria Lending Inc. is a fully licensed corporation headquartered in Makati and registered with the Securities and Exchange Commission. It was established in February 2016 to provide personal loans in the Philippines, catering to the financial needs of individuals and small businesses.
What are the qualifications to apply for a loan with Asteria?
To apply for a personal loan with Asteria, applicants must meet certain criteria. They must be at least 20 years old but not exceed 60 years old at the time of loan repayment. Additionally, they must be Filipino nationals with a landline at their residence or business. For employed individuals, the gross monthly income should be at least ₱15,000 per month.
What is the borrowing limit with Asteria?
Asteria offers different loan amounts depending on the customer’s profile. For first-time customers, the minimum loan amount is ₱2,000, while the maximum amount is ₱10,000. For loan renewals, the minimum amount is ₱2,000, and the maximum amount is ₱20,000, based on prior loan repayment and the applicant’s salary.
Is Asteria Lending a legitimate company?
Yes, Asteria Lending Philippines was officially registered with the Securities and Exchange Commission on February 23, 2016. It holds a Certificate of Authority from the Philippines to operate as a lending firm, ensuring its legitimacy and compliance with the necessary regulations.
Asteria Lending Inc. is a trusted online financial lending organization that provides affordable personal and business loans in the Philippines. With its flexible repayment options, competitive interest rates, and efficient loan application process, Asteria aims to assist individuals and small firms in need of immediate funds. However, it is important to consider the limited coverage area and the potential complexity of the application process, as reported by some customers. By thoroughly reviewing the loan conditions, understanding the eligibility criteria, and following the provided instructions, prospective borrowers can make informed decisions when considering Asteria for their financial needs.