CREZU Loan Philippines Review (2024)

Here’s a review of Crezu loans in the Philippines, outlining the pros, cons, and things to consider:

What is Crezu?

Crezu is an international online lending website offering short-term loans in several countries, including the Philippines. They focus on providing quick loans with minimal documentation.

Is Crezu sec registered?

It’s important to understand that Crezu does not need to be registered with the SEC (Securities and Exchange Commission) in the Philippines because they are not directly involved in lending activities.

Here’s why:

• Crezu’s Role: Crezu primarily acts as a loan aggregator or a platform that connects borrowers with various lending companies. They themselves do not issue the loans.
• SEC Registration: The SEC registration is mainly required for companies that are directly lending money or issuing securities.

Pros of Crezu Ph

• The application process is online and designed to be quick, with potentially fast approval times.
• May be an option for those without strong credit history or traditional banking relationships.
• Crezu loans are unsecured, meaning you don’t need to put up assets as collateral.

Cons of Crezu loan

• As with most online lenders, interest rates on Crezu loans tend to be higher than traditional bank loans.
• Loan repayment periods are usually short, which can put pressure on borrowers.
• Crezu may not be suitable for those with poor credit history or past-due debts.
• Some reviewers mention unexpected charges, so it’s crucial to read the fine print carefully.

Crezu loan requirements

• Philippine Citizenship: You must be a citizen of the Philippines.
• Age: You need to be at least 18 years old.
• Valid Government ID: A government-issued ID like a passport, driver’s license, SSS, or UMID card is required for verification.
• Proof of Income: Crezu may ask for proof of income, such as payslips, bank statements, or business registration for self-employed individuals.
• Active Checking Account: You’ll need a bank account to receive the loan disbursement.

Crezu loan interest rate

Reviews and online information suggest interest rates from Crezu can range from around 1.5% per month to a significantly higher percentage. This translates to an APR (Annual Percentage Rate) that can be substantial.

User Reviews about Crezu loan Philippines

Reviews on sites like Trustpilot and other online forums are mixed:

• Positive experiences: Some users appreciate the speed, convenience, and customer service.
• Negative experiences: Others complain about high interest rates, unreasonable repayment terms, and difficulties with their customer support.

Crezu review Complaints

• High Interest Rates: The most frequent complaint is the extremely high interest rates charged. Users often report they were not fully aware of the rates before applying.
• Short Repayment Terms: Very short repayment periods put pressure on the borrower and can lead to missed payments and additional fees.
• Hidden Fees: Some users claim they were charged unexpected fees that were not made clear during the application process.
• Poor Customer Service: Several reviews cite unhelpful customer service or difficulty getting in touch with support to resolve issues.
• Aggressive Collection Practices: Some complain of aggressive debt collection tactics if payments are missed.

How to apply for Crezu loan

To apply for Crezu loan, please follow these steps:

1. Visit the Crezu website: Go to https://crezu.com.
2. Select Your Country: Choose the Philippines.
3. Fill in Basic Information: Provide details on the loan amount, desired repayment term, and other basic data.
4. Review Offers: If Crezu finds matches, they will present you with potential loan options.
5. Apply with the Lender: Select an appealing offer and proceed to the chosen lender’s website to complete the full application.

In Conclusion

Crezu can provide quick access to funds for emergencies but comes with the potential drawbacks common to online lending platforms. If you’re considering Crezu, thoroughly compare their terms with other options and ensure you understand all costs involved before borrowing.