PESOGO Loan App Review Philippines: is it Legit? Harassment?

In a pinch for quick cash? PesoGo positions itself as a potential solution with its online loan offerings in the Philippines. But before you dive in, it’s vital to dig deeper. This PesoGo Loan App Review in the Philippines will unpack its features, the good, the bad, and the potential red flags to help you make an informed choice.

PesoGo Loan App Review Philippines

Key Features

• Fast loan approval (within 24 hours)
• Minimum loan amount of ₱3,000
• No collateral required
• Streamlined application process

Pros

• Convenient for small, urgent financial needs
• Easy to apply for online
• No need for guarantors

Cons

• High-interest rates (10% – 35% APR)
• Potential for harassment practices if repayments are late (according to user reports)
• Limited information available about the company’s legitimacy

PesoGo Complaints Philippines

There have been user reports of harassment from PesoGo in cases of late repayments. It’s important to be aware of these potential issues before borrowing.

Is PesoGo Legit?

PesoGo is registered with the Securities and Exchange Commission (SEC) in the Philippines with registration number CS201911897. While this adds legitimacy, even regulated lenders can receive serious complaints.

PesoGo Loan Interest Rate Philippines

PesoGo advertises a monthly interest rate of 0.3% – 3%, which translates to an annual percentage rate (APR) of 10% – 35%. The actual rate you receive will depend on their credit evaluation of you.

How to Apply for a PesoGo Loan

Eligibility Requirements

• Must be a Filipino citizen
• At least 18 years old
• Have a valid Philippine ID

Step-by-Step Application Guide

1. Download the PesoGo app from the Google Play Store.
2. Create an account and fill out the online application form.
3. Enter your desired loan amount and repayment period.
4. Submit the application and wait for approval (usually within 24 hours).
5. Once approved, review the loan agreement carefully before electronically signing.
6. The approved funds will be deposited into your nominated bank account.

Who Should Consider PesoGo Loan App?

PesoGo might be an option for Filipinos needing a small, short-term loan for emergencies and who can afford the high-interest rates. However, proceed with caution and only borrow what you can realistically repay on time.

Alternatives to PesoGo Loan

• Traditional Banks: Consider personal loans with better terms if you have good credit.
• Credit Unions: Smaller loans with potentially favorable terms.
• SSS or Pag-IBIG Loans: If eligible, explore these government options.
• Other Loan Apps: Research competitors, but beware of predatory lenders.

PesoGo Harassment Philippines

If you experience harassment from PesoGo, document every incident and consider reporting it to authorities like the National Privacy Commission.

Conclusion

PesoGo promises quick cash but comes with serious drawbacks. Intense interest rates, short terms, and the potential for aggressive behavior make it a very risky choice. Exhaust all other options first. If you do choose PesoGo, read every word of the agreement meticulously and be prepared to repay the loan as quickly as possible.