More and more people prefer cash loan online to loans from traditional bank. One of the reasons for the choice is the flexibility in the application process, interest rates, repayment methods, terms and conditions, etc. If you are in need of applying for instant cash loan online, read the article below to better understand the versatility and power of cash loan online in the Philippines.
Unlike procedure at traditional banks that requires you to go to a bank for carry out transactions, cash loan online allows you to instantly access a website or app to apply for a loan in a few seconds. If the lending institution’s website is available, you may quickly access it though searching Google. Otherwise, if you want to make transactions on your phone, you may also download an online cash loan application and carry out procedures at home.
Instant access on your phone or computer
The online cash lending institutions always provide you with a loan limit just enough to meet your financial needs. Normally, the loan amount will flexibly range from PHP 500 to PHP 20,000. This amount is just enough for an individual to solve urgent problems, cover daily expenses or even open a store. It is important that you know what your loan is used for and how you can repay it and apply for a suitable loan amount.
The online cash lending institutions in the Philippines offer a variety of repayment options available for selection. You may repay the loans through your bank account or card, via e-wallet or at a counter of a convenience store. Furthermore, you may also choose a loan repayment term, usually from 3 months to 6 months.
Diverse repayment options
4. Competitive interest rates
Interest rates of the online cash lending institutions in the Philippines are normally less affected by fluctuations in the world economy than those of banks. In addition, different lending institutions will apply different interest rates. You may investigate and compare different lenders to choose the most cost-effective and suitable one. However, keep in mind that no matter how the interest rates on cash loan online vary, they are always in the range of 10% to 15%. If you see lower or higher interest rates, you should investigate the lender more carefully.
Most online cash lending institutions offer loans with simple lending conditions and do not require any complicated procedures, financial proof or collateral. However, you must provide necessary information including a valid ID, bank account number, etc. Furthermore, a payslip proving your stable income and good credit score will be the advantages so that your loan may be approved faster at a more competitive interest rate.
A legitimate and reputable lending institution will have very clear and transparent terms and conditions for loan application. They are ready to clarify unclear terms to you. Always remember to read the terms and conditions carefully before deciding to apply for a loan to secure your personal finances.
Many people are concerned about the risk of information leakage in applying for an online cash loan. However, as long as you choose the legitimate and reputable lender, you may rest assured that online transactions are safe and absolutely confidential. Check with the Securities and Exchange Commission (SEC) to see whether your target lender is a legitimate one. If the lender is licensed by the SEC, you may rest assured that all transactions will be secured.
Absolute confidentiality of personal information and transaction information
The most important advantage of cash loan online is that they are available 24/7, anytime, anywhere, every day of the week. As long as you have a smart device (computer, phone, tablet, etc.) with internet connection, you may apply for cash loan online regardless of time and location.
If you are looking for an online cash lending institution in the Philippines that satisfies all the above requirements, MoneyCat is your best choice. As one of the leading financial institutions in the Philippines, MoneyCat is always trusted by people for its service quality. In addition to the factors mentioned above, MoneyCat also provides you with outstanding features including financial advice, automatic maturity reminders, advance notices before late payment, competitive interest rates for people with good credit scores, etc. You may contact MoneyCat now to learn about our offers.
The flexibility in operation method has made cash loan online more popular and preferred among Filipinos. Applying for a loan is not complicated, you may try it today if you are in financial need.