Pesoredee Loan: Review App Online Lending Philippines 2024


In the modern era, accessing quick and convenient financial services has become essential. Pesoredee is a prominent online lending platform in the Philippines that provides individuals with easy access to loans through their advanced Fintech technology. In this comprehensive review, we will explore the pros and cons of applying for a Pesoredee loan, guide you through the application process, and shed light on the key features that make Pesoredee one of the most prestigious and approvable lending options in the country.

Summary of Pesoredee

Let us start by summarizing the key points of Pesoredee:

  • Review: Pesoredee loan is highly regarded among borrowers.
  • Guide: We will provide a step-by-step guide on how to apply for an online loan through Pesoredee in the Philippines.
  • Loan amount: Pesoredee offers loans ranging from 1,000 to 20,000 Pesos to meet various financial needs.
  • Age: Applicants must be between 22 and 70 years old to qualify for a Pesoredee loan.
  • Term: The repayment term for Pesoredee loans ranges from 3 to 6 months, offering flexibility to borrowers.
  • Interest rate: First-time borrowers enjoy the benefit of a 0% interest rate on their initial loan, providing them with a great opportunity to access funds without incurring additional costs.
  • Pros: One of the advantages of Pesoredee is their polite customer service, ensuring a positive experience for borrowers. They also have a lenient approach towards borrowers with bad debt.
  • Cons: However, it is important to note that Pesoredee is not a 0% interest loan app. Additionally, the loan limit may not meet the requirements of individuals seeking larger loan amounts.
  • Evaluate the effectiveness: Overall, Pesoredee is considered to be an effective online lending platform, efficiently meeting the financial needs of borrowers.
  • Bad debt: Pesoredee allows borrowers with a history of bad debt, providing them with an opportunity to rebuild their credit.
  • Feedback: For more detailed feedback and testimonials, we encourage you to read the complete post.
  • Pesoredee App download (APK): To download the Pesoredee app, you can find the link here.

What is Pesoredee?

Pesoredee is an innovative Fintech platform developed by Peso Redee Financing Inc., a trusted financial services provider in the Philippines. By harnessing cutting-edge technology, Pesoredee aims to revolutionize the lending industry by offering super-fast loans that cater to the needs of Filipinos. One of the most attractive features of Pesoredee is the convenience it provides to borrowers. The entire loan application process can be completed online, eliminating the need for face-to-face meetings or physical appraisals.

With loan amounts ranging from 1,000 to 30,000 Pesos and repayment terms between 3 and 6 months, Pesoredee ensures that borrowers can access the funds they need within a suitable timeframe. It is important to note that first-time loan customers are approved for a maximum amount of 7,000 Pesos, allowing them to establish a relationship with Pesoredee and demonstrate their creditworthiness.

Pros of Pesoredee Philippines

Pesoredee loans offer several advantages that make them a preferred choice among borrowers. These advantages include:

  • No proof of income, collateral, or guarantor required: Pesoredee understands that traditional lending requirements can be burdensome and time-consuming. Therefore, they have simplified the loan application process by eliminating the need for extensive documentation.
  • Register online loan in Philippines anytime, anywhere, support 24/7, including weekends and holidays: Pesoredee recognizes the importance of accessibilityand convenience. Borrowers can register for a loan online at any time, even outside of traditional business hours.
  • The loan procedure simply requires 1 valid ID: To streamline the application process, Pesoredee only requires borrowers to provide one valid identification document.
  • The system approves applications automatically within 5 minutes: Thanks to their advanced technology, Pesoredee is able to process and approve loan applications swiftly, ensuring a quick response to borrowers.
  • Costs and interest are both public before the borrower agrees to borrow money: Pesoredee believes in transparency and provides borrowers with all the necessary information regarding costs and interest rates upfront, allowing them to make informed decisions.
  • If payment is due and there are not enough funds, customers can extend the payment period by 14 days: Pesoredee understands that unexpected financial difficulties may arise. To accommodate borrowers, they offer the option to extend the payment period by 14 days if they are unable to make the scheduled payment.
  • Absolute confidentiality of personal information: Pesoredee prioritizes the security and confidentiality of borrowers’ personal information, ensuring that their data is protected throughout the loan application and repayment process.

Cons of Pesoredee Loan App

While Pesoredee has numerous advantages, it is essential to consider the potential drawbacks as well. Some of the cons associated with Pesoredee loans include:

  • There is an additional service fee when applying for a loan: Borrowers should be aware that there might be a service fee associated with their loan application. This fee is separate from the interest charged on the loan.
  • The limit is not too high, unable to meet the demand for large amounts of loans: Pesoredee’s loan limits, while suitable for many borrowers, may not be sufficient for individuals seeking larger loan amounts. Borrowers with substantial financial needs may need to explore alternative lending options.

Pesoredee Interest Rate

The interest rates for Pesoredee online loans average around 11.9% per month, with a maximum annual APR (Annual Percentage Rate) of 143%. It is important to note that first-time registered loans enjoy an interest-free offer if the borrower repays the full loan amount on the first payment day. This interest-free offer provides a significant benefit to first-time borrowers, allowing them to access funds without incurring additional costs.

Example of Pesoredee Interest Rate Calculation

To provide a better understanding of how interest rates impact the total amount payable, let’s consider an example. Suppose a borrower applies for a Pesoredee loan of 10,000 Pesos with a repayment term of 3 months. In this scenario, the APR would be 143%. The total amount payable over the 3-month period would be 13,570 Pesos, with a monthly installment of 4,523 Pesos.

Pesoredee Loan Requirements

To be eligible for Pesoredee loans, applicants must meet the following requirements:

  • They must be Filipino citizens.
  • The borrower’s age should be between 22 and 70 years old.
  • Stable employment is necessary to demonstrate the ability to repay the loan.
  • An e-wallet or bank account is required to receive loan disbursements.
  • Pesoredee First Loan: The process for registering and applying for a Pesoredee loan for the first time is relatively simple. Borrowers need to provide their personal information and submit a photo of their ID for verification. It is important to note that the maximum loan limit for first-time borrowers is 7,000 Pesos.
  • Pesoredee 2nd Loan: For borrowers seeking a second loan with Pesoredee, the process is even more convenient. They can simply log back into their registered account, submit the necessary loan approval information, and wait for the disbursement. The maximum loan amount for the 2nd loan with Pesoredee is up to 30,000 Pesos, providing borrowers with increased access to funds.

Guide to Pesoredee Loan Application Step-by-step

Applying for a loan with Pesoredee is a straightforward process. Here is a step-by-step guide to help you through the application process:

Step #1: Access Pesoredee’s home screen:

  • If you are applying on a computer, visit the Pesoredee website. If you prefer using a mobile device, download the Pesoredee app from the respective app store.
  • Once you are on the Pesoredee platform, select the loan limit that aligns with your financial needs and click on the “Apply” button.

Step #2: Confirm your phone number:

  • Provide your personal phone number during the application process.
  • The system will send an OTP (One-Time Password) via SMS to verify your phone number.
  • Take a moment to read and understand Pesoredee’s terms and conditions, and if you agree, click on the “Accept” button to proceed with the loan application.

Step #3: Fill in personal information:

  • Fill in the required fields with accurate personal information, including your full name, gender, email address, date of birth, and residential address.
  • It is crucial to provide correct and up-to-date information to ensure a smooth loan application process.

Step #4: Take a photo of your personal ID:

  • Take a clear photo of one of the valid identification documents specified by Pesoredee. Examples include a driver’s license, PhilHealth ID, PRC ID, UMID card, GSIS ID, PhilSys ID, SSS ID, Voter’s ID, Passport, Postal ID, or TIN ID.
  • This photo will be used to verify your identity and complete the necessary documentation for the loan application.

Step #5: Enter your account number or e-wallet:

  • Provide your personal bank account number or e-wallet details to facilitate the disbursement of funds if your loan application is approved.
  • It is important to double-check and ensure the accuracy of this information to avoid any delays in receiving the loan amount.

Step #6: Wait for approval and disbursement:

  • After completing the application process, the Pesoredee system will automatically review and evaluate your application within 5 minutes.
  • If your loan application is approved, the funds will be disbursed on the same day to the bank account or e-wallet account you provided during the application process.

For a visual guide on how to apply for a loan with Pesoredee, we recommend referring to the provided video, which offers a step-by-step walkthrough of the process.

Pesoredee Reviews and Online Loan App Feedback

Pesoredee’s online lending app has garnered positive reviews from customers, earning a reputation as a reputable lender with high approval rates and fast disbursements. Numerous borrowers have expressed satisfaction with Pesoredee’s service, highlighting its efficiency, reliability, and customer-friendly approach. Reading customer feedback and reviews can provide valuable insights into the borrower experience and help individuals make informed decisions.

Pesoredee Repayment

Pesoredee offers borrowers multiple methods to make loan repayments, ensuring flexibility and convenience. Here are the three payment methods available:

  • Pay via GCash or wallet: Borrowers can utilize their GCash or wallets to make loan repayments. By selecting the “Pay Bills” section, followed by “Loans” and “Dragon Loans,” borrowers can fill in the reference number, contact number, and amount to pay.
  • Pay cash at payment centers: Pesoredee allows borrowers to make cash payments at various payment centers, including 7-Eleven, Cebuana Lhuillier, SM, PayMaya, andShopee Pay. Borrowers can visit these payment centers and follow the necessary steps to complete their loan repayments.
  • Pay directly through the Pesoredee homepage: Borrowers can log in to their personal Pesoredee account on the official Pesoredee homepage. By following the on-screen instructions in the personal account section, borrowers can make direct payments according to the provided guidelines.

Compare Pesoredee Loan App Philippines with Other Loan Apps

To provide a comprehensive overview, it is valuable to compare Pesoredee with other loan apps available in the Philippines. By considering various criteria such as loan limits, interest rates, tenor, age requirements, and browsing time, borrowers can make informed comparisons and choose the loan app that best suits their financial needs. Reputable sources like State Bank reporting and research can offer accurate and reliable information for conducting these comparisons.

Pesoredee Customer Service in the Philippines

For any inquiries, assistance, or support, Pesoredee provides customer service to address borrower concerns. The contact information for Pesoredee’s customer service is as follows:

  • Peso Redee Financing Inc.
  • Address: Unit 204 Pacific Center Condominium, 33 San Miguel Ave, Brgy. San Antonio, Pasig.
  • Pesoredee reference number: 02453348509.

The operating hours for Pesoredee customer service are from 8 am to 5 pm, Monday to Friday. By reaching out to customer service, borrowers can receive the necessary guidance and support throughout their loan journey.

FAQs – Pesoredee Loan App in the Philippines

To address common questions and concerns, let’s explore some frequently asked questions about Pesoredee loans:

Is Pesoredee legit or not?

Yes, Pesoredee operates legally and holds the necessary registrations. They are registered with the Securities and Exchange Commission (SEC) under registration number CS201804564. Additionally, they possess a Certificate of Authority number 1165. Pesoredee is also registered with the National Privacy Commission, ensuring compliance with data privacy and security regulations.

How to pay Pesoredee using GCash?

To make payments to Pesoredee using GCash, follow these steps:

  1. Log in to your GCash account.
  2. Select the “Pay Bills” option.
  3. Choose “Loans” from the available categories.
  4. Select “Dragon Loans” as the specific loan provider.
  5. Fill in the reference number, contact number, amount, and email.
  6. Click “Next” to proceed with the payment confirmation.

Is Pesoredee SEC registered?

Yes, Pesoredee is registered with the Securities and Exchange Commission (SEC) under the registration number CS201804564. This registration affirms the legitimacy of Pesoredee as an authorized lending platform.

In Conclusion

Should You Apply for a Pesoredee Loan in the Philippines? After examining the various aspects of Pesoredee loans, it is evident that they are a legally operated online lending platform offering numerous benefits to borrowers. With loan amounts up to 30,000 Pesos and interest-free offers for first-time borrowers, Pesoredee stands out as a reliable and accessible lending option. Positive customer feedback further validates the efficiency, simplicity, and reliability of Pesoredee’s loan services. The streamlined application process, fast loan approval, quick disbursement, and flexible payment methods contribute to an excellent borrower experience.

If you found this article helpful, please rate it 5 stars.For any additional questions or further information regarding Pesoredee loan reviews, please feel free to leave a comment, and we will respond promptly. Pesoredee loans in the Philippines provide a convenient and efficient solution for individuals seeking financial assistance, and we encourage you to explore this option based on your unique needs and circumstances.

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cashexpress Changed status to publish July 7, 2023