MABILIS Cash Loan App Review Philippines: is it Legit? Complaints

Financial emergencies happen, and the Mabilis Cash Loan App, as the name suggests, promises fast cash in the Philippines. However, before you hit download, it’s essential to dive deeper. This review explores the app’s features, good and bad, delves into complaints, legitimacy, and interest rates – empowering you to make a sound decision.

Mabilis Cash Loan App Review Philippines

Key Features

• Fast Approval Claims: Mabilis Cash boasts a streamlined application process with quick approval times.
• Flexible Loan Amounts: Borrowers can access loans ranging from Php 2,000 to Php 25,000, catering to a variety of needs.
• Multiple Repayment Options: Mabilis Cash offers various repayment methods for convenience.

Pros

• Potential for quick cash to address urgent financial needs.
• Convenient Process: Applying through your smartphone is straightforward.

Cons

• Potentially High Interest Rates: Online lending apps often charge more than traditional loans.
• Strict Eligibility: May not be suitable for everyone.
• Mixed Reviews and Complaints: Some users report positive experiences, while others raise concerns.

Mabilis Cash Complaints Philippines

Several online reviews mention concerns about Mabilis Cash, including:

• Unclear Interest Rates and Fees: As mentioned earlier, the lack of readily available information on interest rates and associated fees is a recurring complaint.
• Hidden Charges: Some users report encountering unexpected charges beyond the advertised loan amount.
• Aggressive Debt Collection Practices: There are scattered reports regarding potentially aggressive debt collection tactics used by Mabilis Cash or third-party collectors they may work with. (Note: Harassment for debt collection is illegal in the Philippines)

Is Mabilis Cash Legit?

Yes, Mabilis Cash appears to be a legitimate company. They are registered with the Securities and Exchange Commission (SEC) Philippines under Registration Number CS20160601. You can verify their legitimacy by searching their registration details on the SEC website.

Mabilis Cash Loan Interest Rate Philippines

Due to the lack of upfront information on the Mabilis Cash app and website, it’s difficult to pinpoint the exact interest rate. However, based on online reviews and comparisons with similar loan apps, you can expect the Annual Percentage Rate (APR) to potentially fall somewhere between 36% and 50%.

How to Apply for Mabilis Cash Loan

Eligibility Requirements

• Legal age (likely 21+)
• Filipino citizen or permanent resident
• May require verifiable source of income

Step-by-Step Application Guide

1. Download the Mabilis Cash app.
2. Create an account.
3. Provide your personal and financial details.
4. Submit your application.

Required Documentation

• Valid government-issued ID
• Proof of income (payslips, bank statements, etc.)
• Other documents as requested by Mabilis Cash

Mabilis Cash Payment

• Repayment Options: Check the app or their terms for accepted payment methods (bank transfer, over-the-counter, etc.).
• Late Payment Penalties: Expect fees and potential for escalating collection efforts.

Who Should Consider the Mabilis Cash Loan App?

Due to the potential high costs and reports of aggressive collection practices, consider Mabilis Cash only as a last resort after thoroughly exploring other options.

Alternatives to Mabilis Cash Loan

• Traditional Banks: Investigate secured or unsecured loans from reputable banks.
• Credit Unions: If you’re a member, credit unions may offer more favorable rates.
• Reputable Online Lenders: Do your research, but other apps may provide better terms and ethical practices

Mabilis Cash Harassment Philippines

If you experience harassment from Mabilis Cash or any lender, report it to the National Privacy Commission (NPC) and the SEC. Do not tolerate abusive practices.

Conclusion

The Mabilis Cash Loan App offers fast cash in the Philippines but comes with potential risks. Weigh the high interest rates, reports of aggressive debt collection, and privacy concerns against your financial urgency. Prioritize your well-being and explore all options before resorting to this lender.