VAMO Loan App Review Philippines: Legit? requirements? Complaints

In need of a quick cash advance in the Philippines? Vamo, a mobile loan app, offers convenient online loans. But before you dive in, this Vamo Loan App Review Philippines will equip you with the knowledge to make an informed decision.

✅Don’t miss:

#1 1.000₱ - 25.000₱ Term: 3 - 12 months. Interest rate: 0% for first loan. Repayment: Monthly or End of term. Requirements: National ID. Age: 20 - 70. (Approval in 10 mins) APPLY ONLINE

#2 1.000PHP - 20.000PHP Term: 7 - 30 days. Interest rate: 0% for first loan. Repayment: End of term. Requirements: National ID. Age: 21 - 70. (Disbursement in 15 mins) APPLY ONLINE

#3 500 PHP - 25.000 PHP Term: 3 - 12 months. Interest rate: 0% for first loan. Repayment: Monthly or End of term. Requirements: National ID. Age: 18 - 70. (No credit check) APPLY ONLINE

#4 1.000₱ - 25.000₱ Term: 2 - 4 months. Interest rate: 0% for first loan. Repayment: Monthly or End of term. Requirements: National ID. Age: 18 - 70. (Easy loan approval) APPLY ONLINE

#5 500PHP - 25.000PHP Term: 3 - 24 months. Interest rate: 0 % for first loan. Repayment: Monthly or End of term. Requirements: National ID. Age: 18 - 75. (Approve Bad credit) APPLY ONLINE

#6 1.000₱ - 25.000₱ Term: 2 - 4 months. Interest rate: 0% for first loan. Repayment: Monthly or End of term. Requirements: National ID. Age: 18 - 70. (Easy loan approval) APPLY ONLINE

#7 5.000PHP - 25.000PHP Term: 1 - 12 months. Interest rate: 0% for first loan. Repayment: End of term. Requirements: National ID. Age: 18 - 65. (No credit check) APPLY ONLINE

#8 500PHP - 25.000PHP Term: 60 - 180 days. Interest rate: 1,2 %/month. Repayment: Monthly or End of term. Requirements: National ID. Age: 18 - 65. (Easy Approval) APPLY ONLINE

#9 1.000₱ - 25.000₱ Term: 3 - 12 months. Interest rate: 0% for first loan. Repayment: Monthly or End of term. Requirements: National ID. Age: 20 - 70. (Receive money in 10 mins) APPLY ONLINE

#10 1.000PHP - 50.000PHP Term: 1 - 12 months. Interest rate: 0% for first loan. Repayment: Monthly or End of term. Requirements: National ID. Age: 20 - 65. (instant loan in 15 mins) APPLY ONLINE

Vamo Loan App Review Philippines

Key Features:

• Loan amounts ranging from ₱3,000 to ₱30,000
• Flexible repayment terms
• Fast loan processing (possible approval within 24 hours)

Pros:

• Easy online application
• No physical branch visits required
• Potential for loyalty program benefits for returning customers

Cons:

• Potential for high-interest rates (estimated around 3.5% daily service charge, translating to a high APR)
• Reports of contacting loan applicant’s references (be sure to discuss this beforehand)
• Limited user reviews and complaints regarding collection practices (more on this later)

Vamo Complaint Philippines

A common Vamo complaint in the Philippines centers around aggressive collection practices. Some borrowers report excessive calls, threats, and even contacting friends and family if payments are late. It’s crucial to weigh the risks before taking out a loan.

Is Vamo Legit?

Yes, Vamo is a legitimate company. It’s operated by Vamo Financing Inc., registered with the Securities and Exchange Commission (SEC) with Registration No. CS201814089 and Certificate of Authority No. 2883. However, it’s essential to be aware of the high costs and potential risks associated with this type of borrowing.

Vamo Loan Interest Rate Philippines

Vamo’s interest rates can be high. Expect to pay an estimated interest rate ranging from 0.65%-1.3% per day. The exact rate offered to you will depend on your individual credit profile.

How to Apply for a Vamo Loan

Eligibility Requirements

• Filipino citizen
• At least 21 years old
• Have a valid government-issued ID
• Provide proof of income

Step-by-Step Application Guide

1. Download the Vamo App (Available for Android and iOS)
2. Create an Account: Requires basic personal and contact information.
3. Complete Application Form: Fill in the required details as instructed.
4. Upload Documents: Submit supporting documents if necessary.
5. Await Approval: Vamo might provide a loan decision relatively quickly.

Who Should Consider Vamo Loan App?

Vamo loans may be suitable for individuals with immediate financial emergencies who have limited borrowing options. However, it’s crucial to exhaust all other options first.

Vamo Harassment Philippines

Be wary of any loan app that resorts to harassment during collection. If you experience this with Vamo, report them to the Securities and Exchange Commission (SEC).

Conclusion

Vamo loan app can be a tempting solution in a pinch, but it’s crucial to fully understand the high interest rates and potential for aggressive collection practices. Only borrow what you can comfortably repay, and prioritize alternative sources of funds if available.