In an era characterized by digital transformation, the way people access financial assistance has evolved dramatically. Borrowing money online has become an increasingly popular choice, primarily due to its unparalleled convenience and rapid access to funds. Among the plethora of online lending options available, Asteria Lending Inc. stands out as a reputable company offering a wide range of financial products designed to meet various needs. This review aims to delve deep into the essential aspects of Asteria Lending, providing valuable insights and detailed information for potential borrowers.
Understanding Asteria Lending Inc. Loans
Asteria Lending Inc. provides a lifeline to financially-strapped Filipinos through its lending products. These products primarily include salary and personal loans, all conveniently accessible through their online platform. Additionally, Asteria Lending Inc. has plans to introduce business and car loans in the near future, broadening its array of financial offerings.
Asteria Lending Inc. Loans:
- Loan Amounts: Asteria loans range from as low as ₱2,000 to a maximum of ₱50,000, catering to a wide spectrum of financial needs.
- Interest Rate: The interest rate for both salary and personal loans is a competitive 0.2% per day, offering borrowers an affordable borrowing option.
- Loan Term: Asteria loans come with flexible repayment terms, spanning from 30 days to 120 days, allowing borrowers to choose a repayment schedule that suits their financial situation.
- Online Application: Accessing an Asteria loan is effortless. Borrowers can initiate the loan application process through the lender’s website at asteria.com.ph, eliminating the need for physical visits and paperwork hassles.
Legitimacy of Asteria Lending Inc.
Before entrusting a lending institution with your financial needs, it’s crucial to ensure its legitimacy. In this regard, Asteria Lending Inc. boasts a solid legal foundation. The company is duly registered with the Securities and Exchange Commission (SEC), and it operates under the registration number CS201603853, further fortified by Certificate of Authority number 1813.
Asteria Lending Review: Pros and Cons
In any financial decision, it’s essential to weigh the advantages and disadvantages. Here’s an in-depth analysis of the pros and cons associated with choosing Asteria Lending Inc. as your lending partner:
Advantages of Choosing Asteria Lending Inc.:
- Quick and Easy Application: Asteria’s online application process eliminates the need for in-person visits and long queues. All that’s required is a computer connected to the internet, making the application process hassle-free.
- Efficient Turnaround Time: Asteria Lending Inc. prides itself on its quick turnaround time. The company claims that it can process loan requests within 24 hours. Once approved, Asteria promptly transfers the funds to your bank account, ensuring quick and easy access to the funds you need.
- Flexible Loan Purpose: Both Asteria’s personal and salary loans can be utilized for various purposes, including groceries, utility bills, tuition fees, vacations, and unforeseen expenses. This flexibility allows borrowers to address a wide range of financial needs.
- Competitive Interest Rates: One of Asteria’s strengths lies in its competitive interest rates. Borrowing from this company accrues a daily interest rate of 0.2%, which is among the lowest in the market.
- No Collateral Required: Unlike traditional lending institutions that often require valuable assets as collateral, Asteria Lending Inc. relies on minimal documentary requirements to process loan applications. This feature is particularly appealing to individuals who may not possess substantial assets for collateral.
Drawbacks to Consider:
- Limited Initial Loan Amount: For first-time clients, Asteria imposes a cap on the maximum loan amount, which stands at ₱9,999.99. Larger loan amounts, starting from ₱10,000 and above, are only accessible upon loan renewal. This limitation might be insufficient for borrowers with substantial financial requirements.
- Short Loan Tenure: Asteria Lending Inc.’s loan terms tend to be relatively short. While a short loan term means that borrowers won’t be paying interest for an extended period, it can pose challenges for individuals experiencing cash flow issues.
- Bank Account Requirement: While informal methods of borrowing money, such as the traditional 5-6 lending system or family loans, may not necessitate a bank account, Asteria Lending Inc. strictly requires applicants to have an active bank account, given its online mode of operation.
Insights from Former Clients
One of the most valuable sources of information when assessing a lending institution’s reliability is feedback from former clients. Reviews and testimonials from individuals who have previously utilized Asteria’s services provide critical insights into the lender’s performance.
Several former clients featured on Asteria’s website have expressed their satisfaction with the company’s quality of service. One borrower, in particular, lauds the lender’s exceptional customer service, highlighting the professionalism and courtesy displayed by one of the company’s customer associates.
A quick glance at Asteria loan reviews on Facebook reveals a similar trend, with clients extending their praise to the lender’s customer service team. Clients express gratitude for the accommodating and helpful demeanor of Asteria’s employees. Furthermore, borrowers have noted that Asteria’s loan agents are well-trained and guide borrowers through the process, providing all necessary details.
In one notable Asteria loan review, a client shared that her loan application was approved on the same day she applied, affirming the company’s claim of processing applications within 24 hours.
As a testament to Asteria Lending Inc.’s credibility, the lender has earned a remarkable rating of 4.9/5 on Facebook, based on an impressive tally of more than 4,900 reviews. This substantial volume of positive feedback strongly suggests that Asteria Lending Inc. is a trusted provider in the online lending sphere.
A reviewer on YouTube provides additional insights, noting that Asteria’s interest rates are on par with those offered by traditional banks. However, the reviewer emphasizes Asteria’s advantage lies in its minimal requirements and user-friendly approach. The same reviewer encourages potential borrowers to consider Asteria before exploring other online lending apps, highlighting that Asteria has established itself as a reputable player in the industry.
How to Apply for an Asteria Loan
By this point, you might be considering Asteria Lending Inc. as a viable solution to your financial needs. If you’re contemplating an application, it’s crucial to understand the eligibility criteria and the documents required for a seamless application process:
To qualify for an Asteria loan, you should meet the following criteria:
- You must be a Filipino citizen.
- You must currently reside and work in specified areas, including Metro Manila, Pampanga, Batangas, Bicol, Quezon Province, or other nearby cities.
- Your age should fall between 21 and 60 years.
- You must have a minimum gross monthly salary of ₱10,000.
The basic requirements for both personal and salary loans at Asteria Lending Inc. include:
- Duly accomplished application form.
- One primary ID (Acceptable IDs include UMID, new PhilHealth ID, new TIN ID, or driver’s license).
- Company ID.
- Latest payslips for the last two months.
- A personal bank account.
- Proof of billing.
Applying for an Asteria Loan is a straightforward process:
- Visit asteria.com.ph, Asteria Lending Inc.’s official website.
- Navigate to the “Loan Products” tab and select the type of loan you wish to apply for.
- On the subsequent page, click the “Apply Now” button.
- You will be directed to the application page where you can fill out the necessary form and upload the required documents. If you do not have all the requested documents at the time of application, you can save your progress and return later to attach the missing documents.
- Wait for Asteria Lending Inc.’s notification regarding the status of your loan approval. Alternatively, you can log in to your account to track the progress of your application.
Asteria Lending Review: Frequently Asked Questions
Borrowers often have questions and concerns when considering an online lending platform. Here are answers to some of the frequently asked questions regarding Asteria Lending Inc.:
Loan Approval Status
Once you have submitted your loan application, Asteria Lending Inc. will review and process it. They will notify you of your loan status via email or SMS. As mentioned earlier, you can also monitor your application’s progress through your Asteria account.
Delays in Approval
If your application approval seems to be taking longer than expected, you can contact Asteria Lending Inc. directly at (02) 5318-8000 to inquire about the status of your application.
Once your loan has been disbursed, Asteria Lending Inc. will send you an email containing detailed repayment instructions. The company provides multiple options for loan repayment through the Dragonpay payment facility, available at various locations, including 7-Eleven, Cebuana Lhuillier, GCash, Maya, LBC, Robinson Payment Centers, and Bayad Centers.
Late Payment Penalties
Asteria Lending Inc. does impose penalties for late payments. Late payment charges and a penalty of 5% per month on the outstanding amount due may apply. To mitigate these charges, borrowers are encouraged to proactively communicate with the lender in case of late payment.
If you wish to apply for a new loan while you have an existing loan with Asteria, the company offers a re-loan program. However, this option is available only after you have fully repaid your existing loan. To initiate the re-loan process, simply log into your Asteria account and click on the “Re-Loan” option.
Renewing Loan Amounts
When renewing a loan with Asteria Lending Inc., the minimum loan amount is ₱10,000, while the maximum amount can go up to ₱50,000. The approved loan amount for renewal depends on your previous loan repayment history and your current salary.
Asteria Lending Inc. emerges as a reliable and accessible solution for individuals seeking quick access to cash to address various financial needs. The convenience of their online application process, coupled with their swift processing times, sets them apart as a competitive player in the online lending industry.
To stay updated on Asteria’s loan products and offerings, consider following them on social media platforms like Facebook or regularly checking their official website. Furthermore, the overwhelmingly positive feedback from former clients and reviewers suggests that Asteria Lending Inc. is a trusted and reputable provider in the world of online lending.
Ultimately, when making financial decisions, it’s essential to conduct thorough research, weigh the pros and cons, and consider the experiences of others who have availed themselves of the services. By approaching your financial needs with diligence and informed decision-making, you can confidently navigate the borrowing landscape and make the best choice for your unique circumstances through Asteria Lending Inc.
Searching for additional loan providers? Explore these alternatives:
In the meantime, if you require larger loan amounts to finance substantial expenditures, it might be prudent to explore the option of a personal loan. You can evaluate your choices and submit your application via CashLoanPH.com:
|Loan Provider||Loan Amount Range||Monthly Add-on Rate||Minimum Annual Income||Approval Time|
|Tala Loan||₱1,000 - ₱15,000||15%||None||24 hours|
|Tonik Quick Loan||₱5,000 - ₱50,000||Starts at 4.26%||₱180,000||As fast as 1 hour|
|RFC Loan||₱10,000 - ₱150,000||4%||₱120,000||As fast as 24 hours|
|UNO Digital Bank Personal Loan||₱10,000 - ₱200,000||1.79%||₱180,000||1-2 days|
|HSBC Personal Loan||₱30,000 - ₱500,000||0.65%||₱168,000||5 to 7 banking days|
|CTBC Bank Personal Loan||₱500,000 - ₱2 million||1.39% to 1.79%||₱180,000||1 to 5 banking days|
|PSBank Personal Loan||₱20,000 - ₱250,000||1.75% or 2.5%||₱180,000||5 to 9 banking days|
|UnionBank Personal Loan||₱20,000 - ₱2 million||1.29%||₱250,000||24 hours|
|CIMB Personal Loan||₱30,000 - ₱1 million||1.95%||₱180,000||As fast as 24 hours|
|Tonik Flex Loan||₱20,000 - ₱250,000||Starts at 1.7%||₱180,000||1 banking day|
|Tonik Big Loan||₱250,000 - ₱5 million||0.5825%||None||7 days|
|SB Finance Personal Loan||₱30,000 - ₱2 million||2%||₱180,000||5 banking days|
|Maybank Personal Loan||₱50,000 - ₱1 million||1.3%||₱300,000||5 to 10 banking days|
|RCBC Bank Personal Loan||₱50,000 - ₱1 million||1.3%||₱360,000||5 to 7 banking days|
|BPI Personal Loan||₱20,000 - ₱2 million||1.2%||₱300,000||5 to 7 banking days|
|Metrobank Personal Loan||₱20,000 - ₱1 million||1.25% to 1.75%||₱350,000||7 days|
|Tonik Quick Loan||₱5,000 - ₱50,000||Starts at 4.26%||₱180,000||As fast as 1 hour|