PesoPop is a new lending application launched in the last few years in the Philippines. Users can quickly sign up for an account and apply for a loan without a property mortgage with just a smartphone.
You can learn about this financial platform through the information provided in the article, such as interest rates, how to create an account, apply for a loan, and frequently asked questions by many users. Keep on reading for more details!
Table of Contents
What Is PesoPop?
PesoPop is the financial solution for many small businesses
PesoPop (Populus Lending Corporation) is a loaning service company established in August 2019. The company’s product is an unsecured loan service, meaning that you do not need mortgage assets. Thus, it is suitable for individuals who need money urgently with small amounts, such as small businesses, students, patients, etc.
The company supports customers solve financial worries based on the following six criteria:
- Simple online registration with a clearly defined time for each process
- Loans and fees change based on customers’ credits.
- Fast approval and disbursement
- Transparency fees and customer account security
- Moderate recurring payment
- Increase quota for customers who pay on time
How Do I Get A Loan In PesoPop?
Owning an Android smartphone is the first step to getting this app. Next, you go to the Google Play Store and search for “PesoPop Philippines,” and install it on your device.
Besides, based on app reviews on Google Play, you can know its reliability and legitimacy. Because there will be apps with similar names, you need to pay attention to the name of the app producer, which is the same as the app name.
Download PesoPop app at Google Play Store
Want to get cash fast and easy?
Register An Account
After downloading the application, you need to open it to register for an account. The application only requires your valid phone number and password for the account. After the registration is complete, your screen will move to the homepage app, and you can start applying for credit.
Apply For A Pesopop Online Loan
Next, you need to fill in all the required information in “Application Steps”, including Identity, Personal, Work, Contact, and Additional information.
The company does not have any strict regulations on the work and income of customers. Therefore, you should fill in the information honestly to quicker the confirmation process.
Wait For Audit Success
After registering, you will receive a call or text message to confirm your information. Normally, it will take 1-2 business days to check and transfer money to you. However, if your credit score is excellent, it only takes 30 minutes.
When the money is in your account, the app’s home will display the debt and time information. You should follow up and pay the debt on time to help your quota higher. Then, the next time you borrow money there, the approved amount will be higher with a lower interest rate.
Did you know? Another alternative solution to apply for a loan beside Fuse Lending is PagHiram Philippines
PesoPop Customer Requirements
To be eligible for a lend, you must at least reach the below conditions:
- Filipino citizens aged 18 – 65 years old.
- Commonly used or valid registered phone number
- Stable income
- Fixed receiving account
- Have at least one valid ID: SSS, Philhealth Card, Driver’s License, Passport, UMID, etc.
In addition, your chances of lending approval will be higher when you submit additional documents such as monthly salary, business license, BIR license (required for business owners), most recent invoices (electricity, water, or Internet), etc.
Customer information is always kept strictly confidential by the company
PesoPop Philippines Loan Interest Rates
PesoPop will accept loans ranging from PHP 1000 to PHP 10000 for 91 to 360 days. The daily interest rate is 0.1%. You can refer to the company’s interest rate table in advance:
|Term||10 Days||91 Days||360 Days|
|Loan amount (PHP)||10000||10000||10000|
|Interest Amount (PHP)||100||910||3600|
|Total Repayment (PHP)||10,100||10,910||13,600|
How To Pay Loan
Your payment is not made through the PesoPop app. Instead, you will pay directly at the company’s 3rd party units, through their branches or online bankings. Some of the company’s partners are:
- Bayad Center
- LBC Express
- Cebuana Lhuillier
- SM Department Store / Checkout Counter
- Robinsons Department Store
- 7-Eleven Convenience Store
- M. Lhuillier
- Epay, etc.
It would be best if you remembered that paying early may support your credit score more, and you may earn more incentives for the next loan.
Tips: You can also get easy cash from MMLoan Philippines
What Is The Company’s Address?
The company is located on the 19th floor MarcoPolo Ortigas Manila at Ortigas Center, on Sapphire Road. You may contact us by phone number (+63) 995 816 2239 or email firstname.lastname@example.org. And, the company works from 9 am to 6 pm on all days except Sunday.
Is PesoPop Legal?
Yes, it is a legitimate financial company. Any company operating in this field must need the permission of the SEC (Securities and Exchange Commission) in the Philippines, so is this company. You can find the company name on the organization’s official website: sec.gov.ph.
How Exactly Does The Company Protect My Data?
PesoPop uses only one channel to transmit and store customer information. As a result, none of your information will be disclosed to third parties, except as required by law.
How To Gain A Higher Loan Quota?
Each loan will have a certain payment term and settlement when the money is transferred to your account. The time displayed on the app next to the amount you have to pay is calculated daily. You need to pay your moneylending on time according to the specified time and keep your credit well.
The company will note them and consider increasing the quota and reducing the interest rate (if any) for you on the following loans.
PesoPop is a fast and convenient loan application with high quota
PesoPop is an application that supports quick small loan transactions in 30 minutes and does not require customers to mortgage assets. With an interest rate of 0.1% per day, your loan can last from 91 to 360 days, depending on your needs.
You can repay the loan through the company’s third-party partners, offline or online. The company will also rely on your on-time payment and credit score to consider upgrading your loan next time.
Hopefully, this article has answered your questions about this Fintech application and supported you in solving your financial needs.
Want to get cash fast and easy?