MADALOAN Review Philippines app Legit? Harassment? Complaints?

The Madaloan app has been gaining popularity for providing instant loans to users, but there are concerns about its legitimacy, harassment, and complaints.

At retailasiaonline.com, we will examine the pros and cons of the app, explore the reviews of real users, and provide insights into its reliability and trustworthiness.

Let’s check it right now!

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Madaloan overviews

✅ Reviews	⭐ Madaloan app
✅ Loan amount	⭐ ₱1,000 – ₱20,000
✅ Age	⭐ 18 – 65 years old
✅ Term	⭐3 – 12 months
✅ Interest rate	⭐ From 0.08% per day
✅ Requirements	⭐ Be a Filippino
✅ Evaluate the effectiveness	⭐ Good
✅ Complaints	⭐ No
✅ Harassment	⭐ Pop-up notification or SMS text
✅ Legit	⭐ Yes
✅ Phone number	⭐ +639171438842
✅ SEC Registration No.	⭐ 2021090025243-01
✅ Madaloan app download apk	⭐ Link here

What is Madaloan? How does it work?

Madaloan is an online lending platform that makes it easy for Filipinos to get access to cash loans. Individuals can get loans quickly and easily through this site. They can get loans for as little as ₱20,000 PHP used for anything from a medical issue to a new home.

Is Madaloan legit?

Yes, Madaloan is a legit online loan app in the Philippines. It has been registered with the Securities and Exchange Commission (SEC) as IFun Lending Corp. It is also a member of the FinTech Alliance Philippines, a self-regulatory organization for fintech companies in the country.

Is Madaloan SEC registered?

Yes, Madaloan is SEC registered. It is registered with the Securities and Exchange Commission (SEC) and has a Certificate of Authority to Operate as a Lending Company. It is a lending company doing business under the name and style of “IFun Lending Corp.” with SEC registration number 2021090025243-01.

Madaloan App benefits

Madaloan app provides its users with a lot of benefits as follows:

• Convenience: This mobile app makes it simple to apply for a short-term loan, no matter where you are.
• Short Funding: The app advertises short loan approval timeframes, allowing customers to obtain funds immediately.
• Online Application: Users can apply for loans online without having to fill out any documentation, greatly streamlining the procedure.
• Privacy Policy: This app has a Privacy Policy in place to ensure the safety and privacy of its customers’ sensitive data.
• Minimal paperwork: This loan app may only require minimal paperwork, which means that people who don’t keep a lot of financial records can use it.

Cons of Madaloan

Madaloan, however, brings itself an array of downsides:

• High-Interest Rate: A daily interest rate of 0.08% can add up to a high annual percentage rate (APR), which can make loans from this app pricey.
• Regulation Concerns: There are doubts about this app’s legality and compliance with regulations. Avoid working with lenders that aren’t regulated if you want to borrow money.
• Accessibility: This loan has an app for Android, which might make it harder for iOS users to use. People should make sure that it works with their gadgets.

Madaloan online loan interest rates

The interest rate for a loan from Madaloan, which can be obtained online, is 0.08% every day. The loan balance receives daily interest charges at this rate.

The interest rate you pay on an online loan may change based on the size of your loan and the lender’s policies.

Read its terms and conditions carefully and make sure you fully grasp the overall cost of borrowing before submitting an application.

Madaloan calculator

Below is an example of Madaloan app calculator:

• Loan amount: ₱6,000
• Interest rate: 0.08% per day
• Loan term: 120 days (4 months)

You will have to pay:

• Total interest: ₱6,000 * 0.08% * 120 days = ₱360
• Monthly interest: ₱6,000 * 0.08% * 30 days = ₱90
• Total repayment: ₱6,000 + ₱360 = ₱6,360
• Monthly repayment: ₱6,360 / 4 months = ₱1,590

Therefore, if you borrow ₱6,000 from Madaloan for 120 days, you will pay a total of ₱360 in interest and your monthly repayment will be ₱1,590.

Madaloan app requirements

The following things must be true for you to be qualified for Madaloan ID requirements:

• A Filipino person
• Aged 18 or older
• Get a steady job or a steady way to make money.

How to apply for Madaloan App?

You can easily apply for loans from Madaloan using their mobile app. Here’s how to do it:

Step #1: Get the app

• You can download the app to your Android device from the Google Play Store.

Step #2: Make an account

• Sign up for an account in the Madaloan app.
• Your name, contact information, and identification papers will be needed.

Step #3: Submit Loan Application

• Sign in to the app after making an account.
• Access the area for loan applications.
• Give the required information, such as the loan amount, the terms of repayment, and the loan’s goal.

Step #4: Upload papers

• The app may ask you to upload papers to make sure you are who you say you are.
• Passports, proof of income, and bank records are all common forms of identification.

Step #5: Wait for Approval

• Once you’ve sent Madaloan your loan request and papers, they will look them over.
• They will check your credit status and decide if they will give you the cash.

Step #6: Madaloan disbursement

• The app will then transfer the accepted loan amount to the bank account you specified.

Step #7: Repayment

• Make sure you understand the terms and plan for repaying the loan.
• Enable regular payments if possible, or make payments by hand as needed.

Madaloan Reviews

Madaloan Philippines review is rated 4.2 stars on google play. It is legit, currently serves as another indication of its trustworthiness.

It is easy to apply for loans, and I received my first fund within minutes.

As a user, I found the process quick and efficient, especially during emergencies. . It’s reassuring that they promise a loan evaluation within one working day.

I also came across a YouTube video discussing Madaloan’s legitimacy, which was helpful in addressing my concerns. However, I would advise users to do their research and read reviews to ensure they fully understand the terms and interest rates.

Overall, this loan is a reliable option for those in need of quick financial solutions.

You can find some real users’ feedback about this loan app:

How to pay Madaloan?

Customers can choose from a number of convenient Madaloan payment methods. Banks, payment centres, and online/mobile banking all accept payments made in person.

The organisation also supplies a directory of remittance centres to which your loan would be sent mechanically. You can make payments at any 7-Eleven, Mluillier, Gcash, PAYMAYA, or BPI or UBP bank.

Madaloan harassment and complaints

Harassment stems from Madaloan complaints related to online loans provided by this loan, which can occur if borrowers are unable to repay their loans.

Note that harassment for unpaid online loans is a concern in the Philippines and elsewhere. Borrowers facing harassment should consider the following steps:

Step #1: Contact the Lender

• Communicate with Madaloan to discuss repayment options or request a revised payment plan.

Step #2: Know Your Rights

• Understand your rights as a borrower, as lenders must adhere to laws and regulations governing debt collection.

Step #3: File a Complaint

• If harassment persists, consider filing a complaint with relevant authorities such as the National Privacy Commission (NPC) in the Philippines, as mentioned in the sources.

Step #4: Seek Legal Advice

• Consult with a legal professional to explore potential legal actions against unlawful harassment.

Step #5: Document Harassment

• Keep records of any harassment attempts, including messages, calls, or other forms of communication, as evidence.

Step #6: Community Support

• Engage with online communities or support groups, like the Facebook group, to share experiences and seek advice from others who may have faced similar issues.

Compare Madaloan App to other App

Criteria	Madaloan app	Pesocash Loan	Binixo loan
Interest rate	0.8% per day	3.5% per month	1% per day
Loan amount	PHP 1,000 – PHP 20,000	PHP 2,000 – PHP 20,000	PHP 2,000 – PHP 20,000
Repayment period	Up to 12 months	Up to 6 months	Up to 36 months
Accessibility	Only Android devices	Both iOS and Android devices	Both iOS and Android devices

Sources: Refer to Sate Bank reporting and research.

Madaloan contact number

If you have any Madaloan reviews or concerns, contact them via the following methods:

• Phone number: +639171438842 (Global)
• Email: Ifunlendingcorp@gmail.com
• Address: Salcedo Avenue,Makati,Kalakhang Manila,NCR, Philippines

In Conclusion

Madaloan is a legitimate online lending platform in the Philippines. It offers quick and easy loans to Filipinos, even those with bad credit.

However, there have been some complaints about Madaloan’s customer service and harassment practices.

If you are considering borrowing from Madaloan, be sure to read the terms and conditions carefully and be aware of the potential risks.