Cash emergencies can be stressful, and if you need money fast in the Philippines, you may have come across the Quickla Loan App. These online lending apps promise quick approval times and simple online applications. But are they worth your time? In this in-depth Quickla Loan App Review Philippines, we’ll delve into the pros, cons, interest rates, complaints, and legitimacy to help you decide if this option is right for you.
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Contents
Quickla Loan App Review Philippines
Key Features
- Fast approval: Quickla advertises quick loan approval times.
- Online application: Apply for a loan through their app, without needing to visit a branch.
- Flexible loan amounts: Borrow amounts tailored to your needs.
- Short term loans: Quickla specializes in short turnaround loans.
Pros
- Convenience: The online setup means you can apply from anywhere.
- Speed: Potentially receive loan funds quickly if approved.
- Accessibility: May be an option if you struggle to get traditional loans.
Cons
- High-interest rates: Online lending apps often have higher interest than banks.
- Short repayment terms: You’ll need to pay back the loan quickly.
- Potential hidden fees: Read the fine print for any extra charges.
- There are online complaints about customer service and collection practices.
Quickla Complaints Philippines
There have been reports of borrowers experiencing issues with Quickla, including:
- Harassment: Aggressive debt collection practices by some lenders.
- Hidden Fees: Unexpected charges not clearly outlined upfront.
- Difficulty with Repayment: Challenges managing repayments due to high-interest rates.
Is Quickla Legit?
Yes, Quickla is a legitimate lending company. They are registered with the Securities and Exchange Commission (SEC) with Registration No. CS201915168 and Certificate of Authority No. 3156. It’s crucial to always check the SEC registration of any online lender before applying.
Quickla loan interest rate Philippines
Quickla’s interest rates vary based on your individual profile. Expect interest rates that are higher than traditional banks, potentially in the range of 5%-10% per month.
How to Apply for a Quickla Loan
Eligibility Requirements:
- Filipino citizen
- At least 21 years of age
- Have a valid government-issued ID
- Proof of regular income (payslip, bank statements, etc.)
Step-by-Step Application Guide
- Download the Quickla app from the Google Play Store or Apple App Store.
- Create an account using your mobile number and basic information.
- Complete the online application form, providing personal and financial details.
- Upload required documentation.
- Submit your application and await approval.
Who Should Consider Quickla Loan App?
Quickla could be an option if you:
- Need a small amount of money urgently
- Have been denied traditional loans
- Are comfortable with the higher interest rates
Alternatives to Quickla Loan
Before taking out a loan, consider:
- Traditional banks or credit unions
- Borrowing from friends or family
- Salary advance from your employer
Quickla harassment Philippines
There have been reports of aggressive collection tactics from some online lenders. If you experience harassment, report it to the SEC and the National Privacy Commission.
Conclusion
Quickla Loan App can be a quick fix for financial emergencies in the Philippines. However, thoroughly weigh the high-interest rates and short repayment periods. Consider all alternatives and read the terms carefully before making a decision.
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