CASHALO Loan app Review Philippines: is Legit? Harassment

In the world of fast and accessible online lending, Cashalo has become a popular option in the Philippines. If you need quick cash, you might be considering Cashalo. But is it the right choice? This in-depth review will examine the Cashalo Loan App’s features, pros and cons, legitimacy, interest rates, application process, and even explore potential complaints to give you a balanced perspective.

Cashalo Loan App Review Philippines

Key Features

• Fast Approval: Cashalo promises swift loan application reviews and disbursement.
• Small to Medium Loan Amounts: Borrowing limits cater to immediate or smaller-scale financial needs.
• Online Application: The entire process, from application to disbursement, occurs through the mobile app.
• Minimal Documentation: Cashalo’s application aims to be less paperwork-intensive.

Pros

• Accessibility: A potential solution for those with limited access to traditional bank loans.
• Speed: When emergencies strike, Cashalo offers quick access to funds.
• Convenience: The app-based process allows you to apply from anywhere.

Cons

• High-Interest Rates: Online lending platforms often charge higher interest than banks.
• Short Repayment Periods: Cashalo’s repayment terms can be tight, creating potential pressure.
• Fees: Be mindful of late payment charges and other possible fees.

Cashalo Complaint Philippines

Like many online lending services, it’s important to be aware of common complaints. These can include aggressive collection practices, unclear terms and conditions, or unexpected charges. Researching reviews before applying is crucial.

Is Cashalo Legit?

Yes, Cashalo is a legitimate lending company in the Philippines. They are a product of Oriente (Express Credit) and are officially registered with the Securities and Exchange Commission (SEC) under Registration No. CS201500281. You can verify this on the SEC website.

Cashalo Loan Interest Rate Philippines

Cashalo’s interest rates will vary based on individual creditworthiness and the loan amount. Expect effective interest rates in the range of 3.95% and higher. It’s essential to get a personalized quote and compare rates before committing.

How to Apply for a Cashalo Loan

Eligibility Requirements

• Filipino Citizen
• At least 21 years old
• Have a regular source of income
• Possess a valid government-issued ID and mobile phone number

Step-by-Step Application Guide

1. Download the App: Find the Cashalo app on the Google Play Store or Apple App Store.
2. Create an Account: Register using your mobile phone number and basic personal information.
3. Complete Your Profile: Fill in detailed information about yourself, income, and employment.
4. Submit Application: Provide any required documentation and finalize your loan request.
5. Wait for Approval: Cashalo processes applications quickly.
6. Receive Funds: If approved, your loan will be disbursed into your chosen account.

Required Documentation

• Valid Government ID (e.g., Driver’s License, SSS, Passport)
• Proof of Income (could be payslips, bank statements, etc.)

Who Should Consider Cashalo Loan App?

Cashalo might be a temporary solution if:

• You need urgent funds for an emergency.
• You don’t qualify for traditional bank loans.
• You’re comfortable with higher interest rates for the convenience.

Alternatives to Cashalo Loan

• Other Online Lending Platforms: Explore options like Tala, Robocash, or similar platforms.
• Salary Loans: Check if your employer offers any salary advance programs.
• Pawnshops: If you own valuable items, they can provide quick cash.

Cashalo Harassment Philippines

Unfortunately, some online lenders might engage in unethical collection practices. If you experience harassment, report it to the SEC and relevant authorities.

Conclusion

Cashalo can offer fast financial help in the Philippines, but carefully consider the high interest rates and potential for short repayment terms. Always borrow responsibly and explore all your options before making a decision.