GOODLOAN Online Cash Loan Philippines Review (2024)

What is Goodloan Online Cash Loan? Loan limit, payment term, how long is the payment term? Are loan conditions and procedures complicated? How to apply for the fastest approved loan?

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Summary of Goodloan Online Cash Loan

What is Goodloan?

Goodloan is a reputable online cash loan platform in the Philippines. The loan launched in 2019, registered with the SEC and certified to operate legally. Customers can borrow from 3,000 to 20,000 pesos, pay term installments from 3 months to 6 months, receive money quickly in 5 minutes without proof of income.

Pros of Goodloan online cash loan app

Goodloan review has many advantages such as:

• Licensed to operate legally, comply with the provisions of law.
• No financial proof documents are required, no collateral of valuable property.
• No hidden fees, no early payment fees.
• Do not disclose personal information to 3rd parties.
• Just apply for a loan online and receive a quick disbursement in 5 minutes.
• Regardless of credit score, bad debts also have the opportunity to be approved for loans.

Cons of Goodloan online loan app

Goodloan app review has some disadvantages are:

• Short term.
• High interest rates, with additional service fees.
• The loan limit is quite low.

Goodloan online cash loan interest rate

The annual interest rate at Goodloan (APR) averages from 3.5% / year, up to 14% / year. In addition, when applying for a loan, customers will have to pay an additional service fee of about 2 to 5% of the loan amount. The fee will be immediately deducted from the disbursed loan.

Example of Goodloan online cash loan interest rate calculation

Goodloan approval 24,000 for 3 months with interest rate of 12% / year (equivalent to 1% / month)

• The amount of interest payable after 1 month is 24,000 x 1% = 2,400 pesos.
• The principal amount to be contributed in 1 month is: 24.000 : 3 = 8.000 pesos.
• The total amount payable in 1 month is: 8,000 + 2,400 = 10,400 pesos.

Goodloan online cash loan requirements

Conditions to meet when applying for a Goodloan online cash loan are:

• Filipino nationality.
• From 18 to 60 years old.
• Have a job and a stable monthly income, commit to being able to afford to pay the loan on time.
• Have a minimum of 2 valid IDs.

Guide to register Goodloan online cash loan application Step-by-step

How to apply for a Goodloan loan through the following steps:

Step #1: Download Goodloan app

Find and download the Goodloan app on Google Play.

Step #2: Apply for a loan

Fill out the online loan application form using Goodloan’s form. Request basic personal information and easily complete it in 5 minutes.

Step #3: Wait for the verification call

Goodloan will call to verify the information. Loan approval results will be notified within 1 hour.

Step #4: Receive disbursements  

The approved funds will be transferred to the bank account or GCash e-wallet for which you have registered information. Alternatively, you can request cash pickup at a transaction center such as LBC Express, Cebuana Lhuillier.

Reviews Goodloan online cash loan app feedback

Goodloan review is rated 4.7 stars from customers in Philippines, no harassment complaints. It is legit and safe, high support limit and absolute information.

Although Goodloan has only been operating in the Philippines market for 3 years, it has received much appreciated feedback on reputable online loan services, fast disbursement.

Goodloan online cash loan repayment

Some forms of Goodloan online cash loan payment that you can use to repay the loan such as bank transfer or cash payment at 7-11, LBC Express, Bayad Center, Ecpay, SM, Cebuana Lhuillier, M.Lhuillier.

Compare Goodloan online cash loan Philippines with other loan apps

Sources: Refer to Sate Bank reporting and research.

Goodloan online cash loan customer service

Goodloan complaints through the following information:

• Address: PBCOM Tower, 6795 Ayala Ave., cor., V.A. Rufino St., Brgy. Bel-Air, Makati City, Philippines.
• Operating hours: From 2nd to 7th, during the hours of 9AM – 6PM.

FAQs

Some frequently asked questions about Goodloan:

Is Goodloan online cash loan legit?

Yes it is. Goodloan is a legitimate online loan owned by Kumquat Lending Inc. The company has registered with the SEC since December 21 – Sep – 2020 with SEC registration No.CS202051900 and Certificate of authority No.3318. Prove that all lending activities on the Goodloan app comply with the provisions of Philippine law on credit finance.

Is Goodloan harassment?

Goodloan online cash loan has been legally licensed. Therefore, according to regulations, online money lending applications will have to keep borrowers’ personal information confidential and not use it for other purposes. However, if you are late in making your payments, the lender may be in constant contact to collect the debt. To avoid harassment, you should pay the loan on time, in the right amount.

How to make Goodloan complaints?

All complaints about loan service activities at Goodloan will be received every day from 2nd to 7th, from 9AM to 6PM. You can chat directly with customer service support directly on the app. In addition, the lender has its headquarters at PBCOM Tower, 6795 Ayala Ave., cor., V.A. Rufino St., Brgy. Bel-Air, Makati City, Philippines.

In conclusion – Should you apply to Goodloan online cash loan app?

Hopefully, through the above article, you have more information about the reputable Goodloan online cash loan service, available in the Philippines. In case of emergency, you can apply for a loan online and receive 3,000 to 20,000 pesos in just 5 minutes with just 1 valid genuine ID.

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