WOWPERA Loan App Review Philippines: is it Legit? Complaints

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

Wowpera 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.

Cons:

• Limited Loan Amount: Maximum loan amount is relatively low compared to other lenders.
• Potentially High Interest Rates: Interest rates can be higher than traditional bank loans.
• User Reviews: Some users report issues with customer service and aggressive collection practices.

Wowpera complaints Philippines

While Wowpera offers a convenient service, some users in the Philippines have reported concerns, including:

• Difficulty contacting customer service.
• Unclear terms and conditions regarding fees.
• Aggressive collection practices (Wowpera harassment philippines).

Is Wowpera Legit?

Wowpera is registered with the Securities and Exchange Commission (SEC) Philippines under Registration Number CS201813274. While this indicates legitimacy, it’s crucial to understand the loan terms and potential downsides before applying.

Wowpera loan interest rate Philippines

Estimated Interest Rate: It’s difficult to pinpoint an exact interest rate as Wowpera might personalize it based on your creditworthiness. However, expect Interest rates (APR) to potentially range between 18% – 36% or higher.

How to Apply for a Wowpera 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 Wowpera Loan App from the Google Play Store.
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 Wowpera Loan App?

Wowpera might be a suitable option for Filipinos needing a quick and relatively small loan amount for emergencies and can manage potentially high-interest rates.

Alternatives to Wowpera 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
• SSS Calamity Loan Program
• Microfinance institutions regulated by the Bangko Sentral ng Pilipinas (BSP)

Wowpera harassment philippines

Important Note: If you experience any harassment from Wowpera or any other loan provider in the Philippines, you have rights. Report such incidents to the Securities and Exchange Commission (SEC) or the National Bureau of Investigation (NBI).

Conclusion

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