In our rapidly evolving world, unforeseen financial challenges can emerge at any moment. For residents of the Philippines, the Soscredit Loan App stands as a potential solution to tackle such financial crises. But does it prove trustworthy and dependable for your monetary requirements? In this all-encompassing evaluation, CashExpressPH.com delves into the essential facets of Soscredit loans, encompassing its attributes, advantages and disadvantages, interest rates, application procedure, and customer testimonials.
Top 10 Fast Online Loans in Philippines – A Valid ID is All You Need Updated in December 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 Soscredit
- Review: Soscredit
- Guide to: Registering with Soscredit Philippines (PH)
- Loan Amount: 1,000 – 25,000 Pesos
- Age Requirement: 20 – 65 years old
- Loan Term: 3 – 12 months
- Interest Rate: 0% interest rate for the first loan
- Pros: Online loan monthly payments in the Philippines
- Cons: No guaranteed online loan approval
- Effectiveness: Good
- Bad Credit: Not Allowed
- Feedback: More details in this article
- Link Apply: APPLY SOSCREDIT LOAN
What is Soscredit?
Soscredit is a reputable financial company that offers online lending services without the need for collateral or guarantors. New customers can access loans of up to 10,000 pesos, with the potential for future loans of up to 25,000 pesos if they make timely payments, all available over terms ranging from 3 to 12 months.
Pros of Soscredit App
Many borrowers choose Soscredit for various advantages, including:
- Convenient online application process.
- Matching customers with suitable loan options.
- No need for collateral or guarantors.
- Quick approval and disbursement in just 15 minutes.
- Interest-free and no charges for new customers.
- Flexibility in repayment methods.
- Option to apply for additional loans.
Cons of Soscredit Loan App
However, prospective borrowers should also consider the following disadvantages before applying for a Soscredit loan:
- Loan limits may not be sufficient for larger financial needs.
- Shorter loan terms compared to traditional bank loans.
- Relatively high interest rates and additional service fees.
Soscredit Interest Rate
New Soscredit customers enjoy an interest-free period for the first 62 days. Subsequent loans, if repaid on time, carry an annual percentage APR ranging from 143% to 180%.
Example of Soscredit Interest Rate Calculation
As an illustration, consider a Soscredit loan of 20,000 pesos for 6 months with an annual percentage APR of 143%:
- Monthly Principal Payment: 3,333.33 pesos
- Monthly Interest Payment: 2,383.33 pesos
- Total Monthly Payment: 5,716.66 pesos
Soscredit Loan Requirements
Eligibility for a Soscredit loan is straightforward:
- Filipino citizenship.
- Age between 20 and 70.
- Ability to make payments.
- A bank account with a Philippine credit institution.
The application process involves filling out a form and awaiting approval, which is communicated via email or text message.
Guide to Register for a Soscredit Loan Application Step-by-Step
Applying for a Soscredit loan is a simple process:
- Visit the Soscredit homepage.
- Select the desired loan amount.
- Provide your email address.
- Agree to the loan application terms and conditions.
- Verify your email to receive a suitable loan proposal.
Soscredit Online Loan App Reviews and Feedback
Customers have expressed their appreciation for the convenience, speed, and usefulness of Soscredit in addressing their urgent financial needs.
Soscredit Loan Repayment
Soscredit offers multiple payment options, including:
- Bill payment centers such as 7-Eleven, Robinsons, SM Payment Center, Cebuana Lhuillier, and Bayad Center.
- Online banking apps.
- Mobile apps like Meralco, CLiQQ, and Moneygment.
- ATM or credit card payments.
- E-wallets like GCash, PayMaya, Coins.ph, and ECPay.
Comparing Soscredit Loan App Philippines with Other Loan Apps
Here’s a comparison of Soscredit with some other loan apps available in the Philippines:
| Criteria | Soscredit | Digido App | Unacash |
|---|---|---|---|
| Limits | 1,000 – 25,000 pesos | 500 – 30,000 pesos | 1,000 – 50,000 pesos |
| Tenor | 3 – 12 months | 3 – 6 months | 2 – 6 months |
| Interest | 12% per month | 0.4% per day | 0% – 16% per month |
| Age | 20 – 70 years old | 21 – 70 years old | Over 18 years old |
| Browsing Time | 15 minutes | 5 minutes | 15 minutes |
| Rating Review | 8/10 | 8/10 | 9/10 |
Soscredit Customer Service
For any inquiries or complaints, Soscredit can be reached through the following channels:
- Email: info@soscredit.ph
- Hotline: 0999481923
- Address: Latvia, Saldus, Liela iela 9, LV-3801
FAQs – Soscredit PH
Here are answers to some frequently asked questions about Soscredit:
Is Soscredit legit?
Soscredit, established in 2017 and operating in several countries, including the Philippines, is not yet SEC-certified in the Philippines. However, it acts as an intermediary lender connecting borrowers with reputable lending partners, offering quick processing and disbursement in just 15 minutes.
How to pay Soscredit?
Soscredit offers multiple payment options, as mentioned earlier, including bill payment centers, online banking apps, mobile apps, ATM or credit card payments, and e-wallets.
In Conclusion – Should You Apply to Soscredit App?
Soscredit stands as a reliable option for online financial support in the Philippines. It provides quick access to suitable loans, with a maximum limit of 25,000 pesos and flexible repayment terms ranging from 3 to 12 months. However, prospective borrowers should carefully weigh the advantages and disadvantages to determine if it aligns with their financial needs and capabilities.
In conclusion, Soscredit has its merits and limitations, and your decision to apply for a loan through this platform should be based on a thorough assessment of your financial circumstances and requirements. Always ensure that you fully understand the terms and conditions before proceeding with any loan application.
With the information provided in this comprehensive review, you can make an informed decision regarding Soscredit loans and whether they are the right solution for your financial needs in the Philippines.