Asteria Personal Loan Review: Your Trusted Solution for Immediate Financial Needs

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Financial emergencies can arise unexpectedly, leaving individuals in need of immediate funds. Asteria Lending understands the importance of quick and convenient access to cash during such times. As an online lending company, Asteria Personal Loan provides a reliable and hassle-free solution to meet your urgent financial needs.

Whether it’s a medical emergency, upcoming life events like weddings or debuts, immediate bill payments, or memorable trips and tours with your family, Asteria Personal Loan offers a convenient way to access the funds you require without going through a troublesome process.

With competitive rates and a fast turnaround time of just 48 hours upon application, Asteria ensures that you can get the cash you need, when you need it. Let’s delve deeper into the features and advantages of Asteria Personal Loan.

What’s so great about Asteria Personal Loan?

  1. No income requirement: Unlike traditional lenders that often impose strict income requirements, Asteria Personal Loan offers financial assistance to individuals without a specific income threshold. This makes it accessible to a wide range of individuals, including those with varying income levels.
  2. Borrow up to Php50,000: With Asteria Personal Loan, you can borrow amounts ranging from as low as Php2,000 up to a maximum of Php50,000, depending on your eligibility. This flexibility allows you to obtain the necessary funds to address your specific financial needs, whether big or small.
  3. Fast approval within 10 minutes – 1 working day: Time is of the essence when it comes to financial emergencies. Asteria Personal Loan recognizes this and ensures a quick approval process, with most loan applications being processed and approved within a timeframe of 10 minutes to 1 working day. This expedited approval process enables you to receive the funds you need promptly.
  4. Payment terms of up to 12 months: To accommodate different financial situations, Asteria Personal Loan offers flexible payment terms ranging from 30 days up to 12 months. This extended repayment period allows borrowers to manage their finances effectively and comfortably pay off their loan once their payroll comes in.
  5. Php 0 Processing Fee for loans Php 10,000 and up: Asteria Personal Loan provides added value to borrowers by waiving the processing fee for loans of Php 10,000 and above. This means that you can save on upfront costs, making it a cost-effective solution for your financial needs.

Product Features

  1. Minimum financing amount – Php 2,000: Asteria Personal Loan allows you to borrow a minimum amount of Php 2,000. This feature ensures that you can access even small amounts of cash when needed.
  2. Maximum financing amount – Php 20,000: For those requiring larger sums, Asteria Personal Loan offers a maximum loan amount of Php 20,000. This higher loan limit caters to individuals with more significant financial obligations or unexpected expenses.
  3. Minimum loan tenure – 10 weeks: Asteria Personal Loan provides a minimum loan tenure of 10 weeks. This allows borrowers to have a reasonable time frame to repay the loan without feeling overwhelmed by short-term repayment periods.
  4. Maximum loan tenure – 3 months: For borrowers who prefer a slightly longer repayment period, Asteria Personal Loan offers a maximum loan tenure of 3 months. This duration provides additional flexibility and allows borrowers to manage their repayments more comfortably.
  5. Interest rate – 0.8% daily: Asteria Personal Loan features a competitive daily interest rate of 0.8%. This rate ensures that borrowers can access funds at an affordable cost compared to other lending options available in the market.
  6. Approval duration – 1 working day: Time is of the essence when it comes to addressing financial emergencies. Asteria Personal Loan strives to provide a quick approval process, with most loan applications being processed and approved within 1 working day. This ensures that borrowers can access the funds they need promptly.
  7. Debt consolidation – No: While debt consolidation can be an effective financial strategy for some individuals, Asteria Personal Loan focuses on providing immediate cash assistance rather than debt consolidation services. Borrowers seeking debt consolidation solutions may need to explore other options.

Fees & Charges

  1. Processing fee – 10% of the loan amount: Asteria Personal Loan charges a processing fee amounting to 10% of the loan amount. This fee covers the administrative costs associated with processing and disbursing the loan.
  2. Stamp duty – N/A: There is no stamp duty charged by Asteria Personal Loan. This eliminates additional costs typically associated with traditional loans.
  3. Disbursement & miscellaneous fee – N/A: Asteria Personal Loan does not impose any disbursement or miscellaneous fees. This ensures transparency and avoids unexpected costs for borrowers.
  4. Early settlement – N/A: Asteria Personal Loan does not charge any fees for early loan settlement. This allows borrowers to repay their loan in full ahead of schedule without incurring any penalties.
  5. Late payment charges – Php 800 plus 1% per day based on the loan amount: To encourage timely repayments, Asteria Personal Loan imposes late payment charges of Php 800 plus an additional 1% per day based on the loan amount. It is essential for borrowers to meet their repayment obligations to avoid incurring these fees.

Eligibility

  1. Minimum salary requirement – Php 10,000: To be eligible for an Asteria Personal Loan, applicants must have a minimum monthly income of Php 10,000. This income requirement ensures that borrowers have the financial capacity to repay the loan.
  2. Guarantor/Collateral requirement – No: Asteria Personal Loan does not require a guarantor or collateral for loan approval. This streamlines the application process and makes it accessible to individuals who may not have substantial assets or creditworthy guarantors.
  3. Other Requirements: In addition to the minimum salary requirement, applicants for Asteria Personal Loan must meet the following criteria:
  • Age: Applicants must be between 20 to 60 years old.
  • Employment: Applicants must be regular employees.
  • Linked bank account: Applicants are required to have a linked bank account for loan disbursement and repayment purposes.

Advantages Of Applying With Asteria

  1. Fast application turnaround time: Asteria Personal Loan prides itself on its fast application processing, ensuring that borrowers can access funds quickly when they need them the most. The streamlined process saves valuable time and reduces the stress associated with financial emergencies.
  2. Very low monthly income requirement: With a minimum monthly income requirement of Php 10,000, Asteria Personal Loan offers a low barrier to entry for individuals in need of financial assistance. This feature makes it accessible to a wide range of borrowers.
  3. No collateral needed: The absence of a collateral requirement simplifies the loan application process and removes the need for borrowers to provide valuable assets as security. This makes Asteria Personal Loan an attractive option for individuals who may not have substantial assets to pledge as collateral.

Asteria Personal Loan FAQ

Is Asteria lending SEC registered?

Yes, Asteria is a SEC registered lending company. Their registration number is CS201603853. This registration ensures that Asteria operates within the legal framework and complies with the regulations set forth by the Securities and Exchange Commission.

How much can I borrow?

With Asteria Personal Loan, you can borrow amounts ranging from as low as Php 2,000 up to Php 20,000 on your next loan, subject to approval. The loan amount you qualify for will depend on factors such as your eligibility and creditworthiness.

What are the Asteria Personal Loan Requirements?

To be eligible for an Asteria Personal Loan, applicants must fulfill certain criteria:

  • Age: Applicants must be between 20-60 years old.
  • Employment: Applicants must be regular employees.
  • Minimum monthly income: Applicants must have a minimum monthly income of Php 10,000.

In addition to these requirements, applicants need to submit the following documents during the credit evaluation process:

  • 1 government-issued ID
  • Company ID (front and back)
  • Most recent 1-month payslip
  • Proof of billing (electric or water bill)

Please note that additional documents may be required during the credit evaluation process.

How does the Asteria Personal Loan Calculator work?

The Asteria Personal Loan calculator is a useful tool that allows borrowers to estimate the cost of borrowing and the amount of payment per installment. By inputting the desired loan amount, borrowers can obtain an estimate of the monthly amortization for different loan tenors. This helps borrowers plan their finances and choose a loan amount and repayment term that suits their needs.

How will I know if my loan request has been accepted or rejected?

You can check the status of your loan application by logging in to your Asteria account through their website. The online portal provides updates on the progress of your application, allowing you to stay informed throughout the loan approval process.

What happens if the approval of my application is delayed?

If there is a delay in the approval of your loan application, the status of your loan will remain pending until Asteria reaches a decision. It is recommended to stay in touch with Asteria’s customer support team for updates and any necessary follow-up actions.

How do I start my repayment?

Repayment can be made through DragonPay payment partners, which are accessible through various establishments. These partners include 7-Eleven, Bayad Center, SM Payment Counters (Department Store, Supermarket, Savemore, Hypermarket), Robinsons Department Store and Supermarket, Cebuana Lhuillier, LBC, and Landbank ATM. This wide network of payment partners offers convenience and accessibility to borrowers.

How will you know if I’ve completed my payment?

Once you have completed your payment, your online account will reflect your previous loan as a completed loan. This allows you to track your repayment progress and ensures transparency regarding your loan status.

What happens if I fail to pay my loan back on time?

Failure to repay your loan on time will result in late payment charges. Asteria Personal Loan charges a late payment fee of Php 800 plus 1% per day based on the loan amount. It is important to make timely repayments to avoid these fees and maintain a good credit standing.

Can I apply for a re-loan?

You can apply for a re-loan once you have fully repaid your previous loan, provided that you have made prompt or timely payments. However, Asteria may restrict loan renewals if you have established a pattern of late payments during your previous loan. Maintaining a good repayment history increases your chances of being eligible for a re-loan.

What is the Dashboard?

The Dashboard is the home page of your online account on the Asteria website. It provides a comprehensive overview of your loan details, including the loan amount, repayment schedule, and any outstanding balance. The Dashboard is a convenient tool for managing and tracking your loan information.

Is Asteria Personal Loan the right choice for me?

Asteria Personal Loan may be the right choice for you if you are in need of immediate funds to address financial emergencies. However, it is crucial to assess your financial situation and determine if you can comfortably meet the repayment obligations. Borrow responsibly and consider alternative options if needed.

Conclusion

Asteria Personal Loan offers a reliable and accessible solution for individuals in need of immediate financial assistance. With competitive interest rates, a straightforward application process, and quick approval, Asteria aims to provide a convenient borrowing experience.

Whether you require funds for medical emergencies, bill payments, or other urgent needs, Asteria Personal Loan strives to be your trusted partner during challenging times. Remember to borrow responsibly and evaluate your repayment capacity before taking on any loan.

5/5 - (8 votes)
CashLoanPH Changed status to publish 02/07/2023