If you are in urgent need of a small amount of money for shopping, personal expenses, Cashwagon may be the online loan service you should learn. In the past few years, online loan applications have flourished in Philippines with the participation of many credit institutions and financial companies. Cashwagon is one of the pioneers in this field.
Table of Contents
What is Cashwagon?
Cashwagon Group was established in Singapore and rapidly developed to many Southeast Asian countries (accounting for 80% of the market share) such as: Sri Lanka, Indonesia, Vietnam, Malaysia, and the Philippines. Cashwagon targets customers who are rejected by traditional financial services. Cashwagon can be seen as the earliest online money loan application in Philippines today. Developed by Green Money Tree Lending Corp. located at The World Centre 330 Sen. Gil Puyat Avenue, Makati City.
Cashwagon provides online loan solutions based on technology (Fintech) for customers’ daily spending needs without proof of income, no need to prove loan purpose, not over the review process is complicated, and there is no long wait. In recent years, Cashwagon has become the most mentioned name in the Filipino financial and technology market thanks to the special values it brings to customers. In which the most outstanding is the convenience and quickness in receiving contracts and paying loans.
Interest rate at Cashwagon
Similar to many other fast loan applications, Cashwagon applies 0% interest rate for the first 7 days of loan, this is an advantage that many new customers are interested in when borrowing at Cashwagon. From the next loan with a term of 3-4-5-6 months, the applicable interest rate is 11.9% / year and loan service charge. Although the loan interest rate at Cashwagon is higher than the bank, it saves a lot of time for registration, waiting for appraisal.
Should I borrow money online Cashwagon?
When you need small and urgent expenses that cannot meet the bank loan procedure, Cashwagon is the most suitable choice right now.
Simple procedure, quick disbursement
The biggest advantage of Cashwagon compared to other financial institutions is that the process is faster and simpler than any current online loan service. With just a phone or computer with Internet connection and a few minutes of registration, you have completed the loan application at Cashwagon. No need to prove income or mortgage. All the borrower needs to prepare is an identity card and bank account. Better yet, you can receive money within 5 minutes after the application is approved.
Transparency about interest rates and fees
The second reason you can count on Cashwagon is that fees and interest rates are clearly communicated from the outset to borrowers. Immediately after choosing a loan and loan term, the app will immediately notify the payable figure at the end of the period. This number is completely committed by the company to remain unchanged for you to rest assured and easily calculate your ability to pay off debts without worrying about financial burden.
Operated under Philippines law
Cashwagon Philippines is now registered under Philippines law with the business registration certificate number CS201718196. Therefore, Cashwagon does not act as an investor or lender, but completely based on Philippines law. So, you are completely assured of the rights and legality of the loan when anything happens during the payment process.
Preference for customers to borrow for the first time and good payment
Not only ensuring fast procedures, Cashwagon also has many incentive programs for first-time borrowers with 0% support interest rate and completely free. If the customer makes good payment for the first time, can extend the loan for the second loan. Now the loan limit will be 20.000 PHP and the term is longer. In particular, your resume at the next times will be reviewed quickly, helping to shorten the disbursement time.
Advantages when apply loan at Cashwagon
- National Support
- Maximum 20.000 PHP loan limit
- Disbursement 24/24
- 0% for the first time with a limit of up to 6.000 PHP
- Procedures only need ID card
- In the next loan, the system will automatically review and disburse
Disadvantages when apply loan at Cashwagon
- On the 2nd loan onwards, the interest rate is slightly high compared to some other online loan applications.
- Loan limit at the first time is not high, maximum is only 6.000 PHP.
- Short-term loan period: 7 – 14 – 30 days.
Cashwagon loans requirements
Currently, Cashwagon is offering loans to eligible customers:
- Age from 20 to 60,
- Live and work in Philippines
- Having a job, stable income
- Have a bank account.
Cashwagon loans are limited to 6.000 – 20.000 PHP depending on the need and short-term payment time (maximum 92 days). If you are a first time customer, you will receive a discount with 0% interest and 0% fee in the first 10 days. The maximum first loan amount is 6.000 PHP with the payment term after 10 days. With a not too large unsecured loan, it can be said that Cashwagon is extremely suitable for those with small and medium money needs but urgent such as paying tuition fees, hospital fees, car repair, phone repair …
Loan limit, fee and interest rate calculation
Before choosing to borrow money online at Cashwagon, you need to learn carefully about calculating interest rates as well as charging fees at Cashwagon. Cashwagon supports customers to borrow money online with a minimum loan of 6.000 PHP and maximum is 20.000 PHP. However, first-time borrowers are only allowed to borrow a maximum of 6.000 PHP and the payment term is 10 days. Customers who register for the first time also enjoy the preferential 0% interest rate and 0% loan fee. A representative example: You apply for PHP 20,000 and choose comfortable repayment over 6 month, your monthly payment will be only PHP 5,000 per month, so your total cost of the loan will be PHP 1,667 per month* When making payment, in addition to the client having to repay the principal, you also have to pay the accompanying fees such as loan insurance premium, late payment interest, early payment penalty fee …
Want to get cash fast and easy?
How to get online loan at Cashwagon
Are you ready to borrow money at Cashwagon? Just follow the 4 simple steps below! To fill in information more quickly, prepare yourself a photo ID card with clear characters and pictures. Prepare any bank account and enter complete and accurate information for faster browsing records.
Step 1: Choose loan amount and register
Visit Cashwagon’s website www.cashwagon.ph
Selct the amount to borrow. Note, if you borrow the first time, you can only borrow maximum 6.000 PHP. Then enter your full name and phone number on the next line. In this step, you need to note line 3. When choosing a loan amount, Cashwagon will tell you immediately the amount and date of payment of the loan. Because Cashwagon is offering 0% interest rate for the first loan package, the amount to be paid to coincide with the loan amount is 6.000 PHP, the payment date is 10 days from the receipt date. Then you click on the button “Apply Now”
Step 2: Fill in personal information
After pressing the “Apply Now” button, you will be redirected to the next page to fill in your personal information. * Note, in order for your profile to be approved faster, you should fill out information accurately and honestly.
The information includes:
- Document type: SSS/TIN/UMID
- Date of birth
- Current marital status
- Email address in use.
You should enter the correct email address because Cashwagon will check your mail.
Step 3: Declare where you live and work
On the page of the living address, you enter the address where you are temporarily residing, not the address on your ID card! Enter the information as detailed as possible, in the length of stay, you should choose a period of time long enough to prove your job and a stable place to increase the reliability of your profile. Once completed, you choose to go to next step.
On the next page, you need to state loan purpose, occupation and information of a relative for your reference. Note, the relative information you provide should be a parent, spouse or sibling, close friend, someone who knows you are applying for a loan.
Step 4: Enter your bank account information and take a photo
After completing the information in step 3, you continue to provide some active bank accounts for Cashwagon to transfer after the application is approved. *** Note, the bank account number must match the name of the registrant, the account should regularly arise monthly transactions such as: receiving salary from company, business …, it will be preferred to a bank account has not been used for a long time or just opened! After successfully entering your bank account number, you can start taking photos of your ID card and uploading it to Cashwagon’s system. After uploading photos successfully, you choose to standard process (no fee) or quick process (fee 1.000 PHP). In fact, you just need to choose Standard process for Cashwagon to proceed on time. You don’t have to choose fast process for an extra fee. * Tips for easy approval of your application
- When filling out loan information, you should be honest
- The photo ID is clear
- Choose a loan and loan term that is suitable for your financial capacity
After successful registration, if your information provided is correct, the system will approve a Realtime loan in 5 minutes. Conversely, the customer care staff will call you for advice to add or correct the record if the information is incomplete. After reviewing your application, Cashwagon also sends your loan contract via Email / SMS registered on the system. The contract will clearly state the interest rate, loan fees such as late payment interest, early payment penalty, loan insurance … So before you agree to a loan, you should read the contract clearly to avoid losing more. penalty fees. In addition, in the case of paying off debt on weekends or because of a certain error, but money has not entered the system, making you late, please contact a consultant about this! Cashwagon Hotline 24/7: (02) 7908-2891, (02) 8396-6621 (email@example.com) If you have made good payment for the first loan package and wish to borrow more, click on the button “Pepeat Loan” on the Website Cashwagon.ph. Then enter the phone number registered to borrow before.
How to repay Cashwagon loan
Repay Via Mastercard/VISA Bank Debit Cards or ATM Debit Cards
You can now repay your loans directly from your Debit Cards! All you have to do is visit Cashwagon’s website and click on the “Loan Repayment” tab where you can choose this option.
Repay via E-wallets or Online Bills Payment facilities
E-wallets and online banking are definitely on trend today! With these apps continuously popping up, Cashwagon decided to utilize its features and make repayments more convenient. So, if you have Gcash or if you use BDO Online Bills Payment, Philippine National Bank Online Bills Payment, Unionbank Online Bills Payment, and/or Security Bank Online Bills Payment, you can settle your Cashwagon loans through them!
What to notice about online loan Cashwagon
* Note: No matter what loan package you choose or any form of loan, late payment is a taboo. Here are 2 reasons you should not close late:
Penalty fees and interest are high
Because this is a form of unsecured loan (no collateral required) depends entirely on the credibility of the borrower, even if you only pay 1 day late, you will have to pay interest and late payment penalty. high. So, you should pay on time to avoid “interest on mother to bear interest”. Do not forget to balance the time and deduct risk loss such as bank error, other bank payments, transfer on weekends, holidays … also make the payment may be delayed.
Your profile will fall into bad debt
When you pay off your loan late, your credit score will be underrated, meaning that it can drop, and you risk being classified as bad debt. This also means that you may not be accepted on re-lending or borrowing from other credit institutions.
Above is a guide to online loan registration at Cashwagon, register your first loan to no longer worry about your current financial burden!
Want to get cash fast and easy?