Easypeso Loan App Review Philippines Complaints? Legit? Harassment?

Easypeso Loan App review APK legit or not? interest? disbursement? requirements? harassment?

This loan is a famous mobile wallet in the Philippines that also helps people get loans.

In this article at retailasiaonline.com, we’ll also talk about what’s good and bad about this loan app so you can decide if it’s right for you 2024.

Keeping this article to get more knowledge!

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Summary of Easypeso Loan 

✅ Review	⭐ Easypeso Loan App
✅ Guide to	⭐ Apply a loan to Easypeso Loan App Philippines
✅ Maximum Loan	⭐ 1000 – 10.000 PHP
✅ Age	⭐ 21 – 65 years old
✅ Term	⭐ 1 – 6 months
✅ Interest rate	⭐24% per year
✅ Requirements	⭐ National ID
✅ Payment	⭐ GCash, Maya, M Lhuillier
✅ Contact number	⭐09664171884
✅ Easypeso loan apk download	⭐Link here
✅ Registration number	⭐ CS201817516

What is Easypeso?

Easypeso is one of the most trustworthy and reliable fintech platforms in the Philippines. The app makes it easy and safe for people to apply for loans quickly and easily. Easypeso also has low interest rates and different ways to pay back loans.

Easypeso loan App benefits

Here are some benefits after Easypeso loan reviews:

• Convenience: Loan apps usually make it easy to apply for and handle loans from your phone or tablet.
• Speed: Many loan apps let you get approved and get your money quickly, so you can get cash when you need it quickly.
• Accessibility: You can use these apps at any time, day or night, to apply for loans or check your account.
• Transparency: Loan apps with a good reputation make it clear what the loan terms, interest rates, and fees are, which helps borrowers make smart choices.
• Flexibility: Some loan apps offer different kinds of loans with different terms and amounts to meet different people’s financial needs.
• Chances to build credit: If you pay back loans on time through these apps, it can help your credit score.

Cons of Easy peso loan

Easypeso loan app Philippines has many pros, but it also has a number of cons.

• High interest rates: Compared to standard bank loans or credit cards, some loan apps may have higher interest rates.
• Hidden Fees: Some apps may have fees that aren’t clear or aren’t made clear, which can make the total cost of borrowing much higher.
• Debt traps: Some people can get stuck in a cycle of debt because loan apps make it easy and quick to get money.
• Concerns about privacy and security: It can be risky to give loan apps your personal and financial information if the app does not have strong security measures in place. Make sure the app you use puts data safety and security first.

Easypeso pro cash online loan interest rates

When it comes to interest rates, the Easypeso pro cash online loan rates are pretty low. The company says that the rate doesn’t go above 24% per year.

There are some fees, including a processing fee and a loyalty fee (per purchase) that ranges from 10% to 20%. EasyPeso Philippines’ interest rates are higher than those of any Philippine bank, but they are comparable to those of other loan companies.

Easypeso loan calculator

Let’s assume you want to borrow 10,000 pesos from Easypeso loan app, and they charge an annual interest rate of 10%. They also require you to repay the loan in monthly installments over one year (12 months).

Calculate the monthly interest rate:

• Monthly Interest Rate = Annual Interest Rate / 12
• Monthly Interest Rate = 10% / 12 = 0.8333% (rounded to 4 decimal places)

Calculate the number of monthly payments (n):

• n = Loan Term (in months) = 12 months
• Use the formula for calculating the monthly payment amount (PMT) with a fixed-rate loan:
• PMT = [P * r * (1 + r)^n] / [(1 + r)^n – 1]

Where:

• PMT = Monthly Payment
• P = Principal Loan Amount (10,000 pesos)
• r = Monthly Interest Rate (0.008333)
• n = Number of Monthly Payments (12 months)

Now, plug in the values:

• PMT = [10,000 * 0.008333 * (1 + 0.008333)^12] / [(1 + 0.008333)^12 – 1]
• PMT = [83.33 * 1.008333^12] / [1.008333^12 – 1]
• PMT ≈ [83.33 * 1.101596] / [1.101596 – 1]
• PMT ≈ [91.79] / [0.101596]
• PMT ≈ 903.74 pesos (rounded to the nearest cent)

So, your monthly installment for a 10,000-peso loan from Easypeso, with a 10% annual interest rate and a 12-month repayment term, would be approximately 903.74 pesos.

Easypeso loan app requirements

Here are some requirements for Easypeso loan:

• Age Eligibility: You should be of legal age in your country or region, typically 18 years or older, to qualify for a loan.

• Identification: You will likely need a valid government-issued photo ID, such as a passport, driver’s license, or national ID card, to verify your identity.
• Proof of Income: Most loan apps require proof of a stable source of income. This can include payslips, bank statements, or other documentation that shows your ability to repay the loan.
• Bank Account: You may need an active bank account in your name.
• Residency: Some loan apps may require you to be a resident of the country where you are applying for the loan. They might use location data to verify this.

Guide to apply for Easypeso loan App step-by-step

Here are Step-by-step to apply for Easypeso loan:

Step #1. Download the Easypeso App

• Go to your device’s app store and google play
• Search for “Easypeso” and download the official app.
• Install the app on your device.

Step #2. Register for an Account

• Open the Easypeso app after installation.
• Sign up for an account by giving the requested information. Most of the time, this is your phone number, your email, and a password.
• Use the proof code that was sent to your phone or email to check your account.

Step #3. Complete Your Profile

Complete your profile by providing personal information such as your full name, date of birth, and address.

Step #4. Submit Required Documents

Easypeso may require you to upload certain documents for identity and creditworthiness verification. These documents might include a government-issued ID, proof of address, and income documents.

Follow the app’s instructions to upload these documents securely.

Step #5. Apply for a Loan

• Once your profile is complete and your documents are verified, you can apply for a loan within the app.
• Specify the loan amount you need and the repayment terms.
• Review the loan terms, interest rates, and any associated fees.
• Submit your loan application.

After you’ve submitted your application, the Easypeso team will review your request. If approved, you should receive the loan amount in your linked bank account or mobile wallet.

Easypeso loan disbursement.

Here are the general steps for the loan disbursement process with Easypeso:

#1. Loan Approval

Once you have applied for a loan through the Easypeso app and your application is approved, you will receive a notification confirming the approval.

#2. Confirmation of Disbursement

• After approval, Easypeso will typically send you a confirmation notification that includes details about the loan disbursement.
• This notification may specify the disbursement date and the exact amount that will be transferred.

#3. Loan Disbursement

• On the scheduled disbursement date, Easypeso will initiate the transfer of the approved loan amount to the linked bank account or mobile wallet.
• This process is typically electronic and may take a short amount of time to complete, depending on your financial institution or mobile wallet provider.

#4. Repayment Reminder

• Easypeso may provide you with a repayment schedule, which includes due dates and installment amounts.
• Ensure that you have sufficient funds in your linked account to cover the loan repayments on time.

Easypeso loan reviews and Feedback

Easy Peso gives fast loans all over the Philippines within 24 hours and convenient.

The app also lets applicants find out right away if they are qualified for the loan amount they want and get approval in just minutes after sending in all the necessary paperwork.

I think this app is a good choice if you have a steady income and need a lot of money quickly. But you should expect technology troubles and bad service.

Here’s an example of a Peso Buffet loan review from a customer:

Easypeso loan payments

Here are the main steps for paying off loans with the Easypeso app:

#1. Loan Contract and Repayment Plan

• When your loan application is accepted, Easypeso will send you a loan agreement with information about when and how much you have to pay back.
• This plan lists the due dates, the amounts of each payment, and the total amount that needs to be paid back.

#2. Methods of payment

Most of the time, Easypeso gives users more than one way to pay back their loans. Some common ways to pay are:

• Direct Debit: This lets the app take the installment amount immediately from your linked bank account on the due date.
• Mobile bank: You might be able to pay right from your linked mobile bank, like GCash or PayMaya.
• Over-the-Counter Payments: Some loan apps tell you how to make payments at physical payment centers or partner places.

#3. Reminders to pay

• Easypeso may send you notifications or emails to remind you of future due dates for payments.
• Pay attention to these alerts to make sure you don’t forget to pay.

#4. Payments by hand

If your loan app lets you make direct payments, you can do so right from the app. Here’s a usual way to make a payment by hand:

Note: If you choose direct debit as your chosen payment method, Easypeso will automatically take the installment amount from your linked bank account on the due dates. Make sure your account has enough money in it to pay for these scheduled withdrawals..

Compare Easypeso loan App to other App

Loan App	Easypeso loan app	Wowpera Loan	Gcash loan
Interest Rate	24% per year	12% and 20% per year	1.59% – 6.57% per month
Loan Amount	Up to PHP 10,000	Up to PHP 20,000	Up to PHP 150,000
Loan Term	Up to 6 months	Up to 12 months	Up to 12 months

Sources: Refer to Sate Bank reporting and research

Easypeso loan customer service

Here are the contact for Easypeso loan app:

Phone number: 09664171884

Email: cs.easypeso@gmail.com

Address: Net Cube Plaza, 30th St. Cor 3rd Ave., Bonifacio Global City, Taguig City, Philippines 1643

FAQs – Easypeso loan App

For more information about Easypeso loan, follow the frequently asked questions below:

Is Easypeso loan legit?

Yes, Easypeso is a legitimate loan tool that helps people in the Philippines get personal loans. They have a good name and are known for making it easy to get money quickly. But it’s important to remember that loan terms and interest rates can change based on your reputation and other factors.

Is Easypeso loan sec registered?

Yes, by law, any financial company that wants to do business in the Philippines has to get the right permission. This is the job of the Securities and Exchange Commission, or SEC. On the official website sec.gov.ph, you can find names of tested and reliable companies: CS201817516.

Conclusion

In conclusion, Easypeso loan make it easy and handy for people to get help with money through their mobile app.

Even though the application method and terms can be different, you usually have to download the app, sign up, provide the necessary documents, and then apply for a loan.

The app is a good choice for people who need help with money because it is easy to use and gets approved quickly.

But it’s important to know about the latest changes and terms for Easypeso loans and to borrow wisely, taking the interest rates and terms for paying back the loan into account.