Kusog Pera Loan App Review Philippines: is it Legit? Complaints

Kusog Pera promises quick and easy loans through their mobile app, but is it too good to be true? This review dives deep into Kusog Pera’s features, fees, and user experiences to help you decide if it’s the right loan option for you in the Philippines.

Kusog Pera Loan App Review Philippines

Key Feature: Offers cash loans ranging from ₱5,000 to ₱20,000 with repayment terms between 91 and 120 days.

Pros:

• Fast and Convenient: Easy online application process through the mobile app.
• No Collateral Required: No need to pledge any assets to secure a loan.
• Flexible Repayment: Choose a repayment term that fits your budget (though the range is relatively short).

Cons:

• Limited Loan Amount: Maximum loan amount is relatively low compared to other lenders.
• Potentially High Interest Rates: Interest rates can be significantly higher than traditional bank loans. User reviews suggest rates might be even higher than advertised.
• User Reviews: Some users report issues with customer service, unclear terms and conditions regarding fees, and Kusog Pera harassment Philippines.

Is Kusog Pera Legit?

Kusog Pera is registered with the Securities and Exchange Commission (SEC) Philippines under Registration Number CS201813274. While this indicates legitimacy, it’s crucial to understand the potential downsides and user-reported concerns before applying.

Kusog Pera loan interest rate Philippines

Estimated Interest Rate: It’s difficult to pinpoint an exact interest rate as Kusog Pera might personalize it based on your creditworthiness. However, expect Interest rates (APR) to potentially range between 25% and 50% or even higher, based on user reports.

How to Apply for a Kusog Pera Loan

Eligibility Requirements:

• Must be a Filipino citizen.
• At least 18 years old and above.
• Have a valid Philippine ID.
• Possess a regular source of income.

Step-by-Step Application Guide:

1. Download the Kusog Pera Loan App from the Google Play Store. (Note: The app’s availability on the Play Store might change).
2. Create an account and fill out the online application form.
3. Provide requested information like income and employment details.
4. Wait for loan approval notification within the app. *Note: This is a general guideline; the specific application process might change.

Required Documentation:

• Valid government-issued ID (e.g., SSS, PhilHealth, Passport)
• Proof of income (payslips, bank statements, etc.)

Who Should Consider Kusog Pera Loan App?

Kusog Pera might be a suitable option for Filipinos needing a very small and urgent cash amount, understanding the potentially high-interest rates and Kusog Pera harassment philippines reports from some users.

Alternatives to Kusog Pera Loan

Before finalizing your decision, consider exploring other licensed lenders in the Philippines who might offer competitive rates and terms:

• Pag-IBIG Salary Loan Program (for Pag-IBIG members)
• SSS Calamity Loan Program (for SSS members)
• Microfinance institutions regulated by the Bangko Sentral ng Pilipinas (BSP)

Conclusion

Kusog Pera offers a convenient way to access quick cash. However, carefully weigh the potential downsides, particularly the interest rates, user-reported issues, and potential for harassment. Explore alternatives and ensure you can comfortably manage repayments before applying for a Kusog Pera Loan. Remember, responsible borrowing is crucial to avoid getting trapped in a cycle of debt.