Digido Loan is an online financial support product offered by Digido Finance Corp, a registered company with a valid certificate of operation from the SEC. In this review, we will explore the legitimacy of Digido, discuss the loan application process, and evaluate its pros and cons. Additionally, we will provide information on loan amounts, requirements, interest rates, and repayment options. Let’s delve deeper into the details of Digido Loan.
Overview of Digido Loan App
Digido Loan App is an online lending platform that offers personal loans to individuals in the Philippines. The app is designed to simplify the loan application process, allowing borrowers to apply for loans conveniently from their mobile devices. With Digido, borrowers can access loans ranging from 500 to 30,000 pesos.
Features and Benefits of Digido Loan App
Fast and Convenient Application Process
One of the key features of Digido Loan App is its fast and convenient application process. Borrowers can complete the entire application process online, eliminating the need for lengthy paperwork and time-consuming visits to physical branches. The Digido Loan App is available 24/7, allowing borrowers to apply for loans at their convenience.
Flexible Loan Amounts and Tenor
Digido offers flexible loan amounts ranging from 500 to 30,000 pesos. Borrowers can select the loan amount that suits their needs and financial capabilities. Additionally, Digido provides loan tenors ranging from 3 to 6 months, giving borrowers the flexibility to choose a repayment period that fits their budget.
Competitive Interest Rates
Digido aims to provide affordable loan options to its borrowers. The platform offers competitive interest rates, with an interest rate of 0.4% per day. This ensures that borrowers can access the funds they need without burdening them with excessive interest charges.
Simple Eligibility Criteria
To be eligible for a Digido loan, borrowers need to meet a few simple requirements. Applicants must be Filipino citizens between 21 and 70 years old, with a valid government-issued ID. They should also have a stable source of income, which can be demonstrated through proof of employment or business ownership.
Digido Loan Application Process
The application process for a Digido loan is straightforward and can be completed in a few simple steps:
- Step 1: Visit the Digido homepage or download the Digido Loan App from the Google Play Store or Apple App Store.
- Step 2: Create an account by providing your mobile number and verifying it with the one-time password (OTP) sent to your phone.
- Step 3: Fill out the loan application form, providing accurate personal information such as your full name, date of birth, email address, residential address, and employment details.
- Step 4: Upload the necessary documents, such as a valid ID and proof of income. Digido may require additional documents for verification purposes.
- Step 5: Review the loan terms and conditions before submitting your application.
- Step 6: Wait for loan approval. Digido employs an automated approval process, which typically takes around 5 minutes. If approved, the loan amount will be disbursed to your registered bank account or e-wallet address.
Digido Loan App Reviews and Customer Feedback
Before deciding to apply for a loan through Digido, it’s essential to consider the experiences of previous customers. Digido Loan App has received generally positive reviews from borrowers, with many praising the platform for its fast approval and convenient loan disbursement process. Customers have also highlighted the user-friendly interface of the Digido Loan App, making it easy to navigate and apply for loans.
Digido Loan Repayment Options
Digido provides multiple repayment options to cater to the diverse needs of its borrowers. Here are some of the available repayment methods:
Borrowers can choose to repay their Digido loans through bank transfer. They can transfer the loan amount plus interest to Digido’s designated bank account. It is important to include the unique reference number provided by Digido to ensure accurate loan repayment.
Digido borrowers also have the option to make over-the-counter payments through partner payment centers, including 7-Eleven, Bayad Center, and M Lhuillier. Borrowers can visit any of these payment centers and provide the necessary details to complete the loan repayment.
E-wallets and Digital Payment Platforms
Digido allows borrowers to make loan repayments using popular e-wallets and digital payment platforms such as PayMaya and Coins.ph. Borrowers can transfer the loan amount to Digido’s registered e-wallet address or use the provided payment options within the Digido Loan App.
Digido Loan App FAQs
How long does it take to receive loan approval from Digido?
Digido employs an automated approval process, which typically takes around 5 minutes. Once approved, the loan amount is disbursed promptly to the borrower’s registered bank account or e-wallet address.
Can I apply for a Digido loan if I have a bad credit history?
Digido considers various factors when reviewing loan applications, including credit history. While having a good credit score may increase your chances of loan approval, Digido also considers other factors such as employment stability and income source. Even if you have a less-than-perfect credit history, it is still possible to be approved for a Digido loan.
Can I extend the repayment period for my Digido loan?
Digido currently offers loan tenors ranging from 3 to 6 months. It is not possible to extend the repayment period beyond the options provided. It is important to carefully assess your financial situation and select a repayment period that suits your budget and repayment capability.
What happens if I miss a loan repayment?
Late payments on Digido loans may incur additional interest and penalty fees. It is crucial to make loan repayments on time to avoid unnecessary charges and maintain a good credit standing.
Conclusion – Digido Loan App: A Convenient Financial Solution
Digido Loan App offers a convenient and accessible solution for individuals in need of quick financial assistance in the Philippines. With its fast approval process, flexible loan amounts, and competitive interest rates, Digido aims to provide a hassle-free borrowing experience. However, it is important to carefully consider your financial situation and repayment capability before applying for any loan. If you find yourself in need of a small loan amount and require quick financial assistance, Digido Loan App may be worth considering.