Moneycat Loan – A Real Convenient online loans pilipinas reviews and Painless Way to Borrow Money
Moneycat is a Philippines-based student loan provider. They have been online loans pilipinas reviews helping Filipinos get a foot in the door to higher education for decades, even before the country was hooked up to the World Wide Web. With continued support, the company continues to help educate more people with student loans to finance their future.
The process of getting a moneycat loan isn’t very complicated. You don’t have to fax through forms as you would when applying through the mail. All you need is a valid bank account within 24 hours, proof of address and a job or business registration form. If you meet these simple steps, you’re ready to begin the application process.
There’s no fee for this type of online loan. Once your application form is received and accepted, you’ll be mailed instructions on how to complete the loan repayment. Payments are generally made via bank transfers made to your bank account within five working days. The company doesn’t bill your credit card until after the money has been repaid.
In order to get a fast and convenient repayment plan, you must be able to repay your loan amount in a short period of time. A three month grace period is usually offered. This is the general rule of thumb when repaying student loans in the Philippines. Any amount above this three month period will require an additional finance charge. It’s important to read through all information provided to you and understand what it means before you make a final decision on where to pursue your education. For example, you may find that a 30% deposit is not sufficient for your tuition and boarding.
Financial advisers say that most borrowers will qualify for the program, even without good credit. However, they also stress that there can be problems with the approval duration. If the loan repayment isn’t possible within three months, most banks and institutions will reject the application. So it is recommended that you submit all documents within the required timeframe to avoid such issues.
The main requirement for the application approval is a true copy of your resume. You’ll need to provide supporting documents such as payslips, bank statements, etc. When reviewing your application, financial institutions may check the validity of your bank account by contacting the previous creditors to confirm the current account balance and other relevant information. Once the approval phase is complete, your money will be transferred into your bank account and you will receive an acknowledgement of receipt from the bank. The money will be available to you within three months, depending on the amount you applied for and the current interest rate in the market.
After the entire process has been completed, you will receive a confirmation of funds from the bank and you can then access your bank account within three months. You should remember that all loans from private Commercial Bank are subject to local and federal laws. You will also be required to provide a copy of your Philippine passport upon request. There are two ways to apply for this loan online: The traditional method of filling up an application form with the details provided on the website, and calling a customer service representative or a loan officer in the company’s branch. The main requirements for each method are as follows:
Most importantly, before borrowing money from a private Commercial Bank, make sure that you have the capacity to repay the loan as scheduled. Remember that once you commit any of these acts, you might be subjected to penalty. If you find yourself unable to repay your loan, call a customer service representative immediately to discuss other repayment options, or withdraw your money from an Internet bank. You should always remember that there are different options for every borrower, so be wise and careful in deciding which loan to take.