Cebuana Loan: Cash Loan, Requirements, Application – How to Loan?

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Cebuana Lhuillier is a well-established pawnshop and financial solutions provider based in the Philippines. With its foundation dating back to 1953 and formal establishment in 1988, the company has grown to offer a diverse range of services.

In addition to pawnshop services, Cebuana Lhuillier provides money remittance, foreign exchange, insurance, bills payment, business microloans, and quick cash loans. As a testament to its commitment to customer convenience, the company has developed an online app that enables seamless transactions without the need to visit a physical branch. With over 2,500 branches nationwide, Cebuana Lhuillier ensures accessibility and convenience for its customers.

Can I Borrow Money from Cebuana Lhuillier?

Cebuana Lhuillier offers a quick cash loan solution called “Happy Loans,” making it possible for individuals to borrow money from the company. The Happy Loan is a non-collateral loan product that can be availed of by any legal-age individual who is employed and a resident of the Philippines.

This loan provides a hassle-free application process and favorable terms, making it an ideal choice for individuals in need of quick cash. Furthermore, Cebuana Lhuillier also extends Lucky Loans, which are microloans designed to assist small and medium enterprises in expanding and growing their businesses.

How Much Can You Borrow from Cebuana Lhuillier?

Cebuana Lhuillier offers loan amounts ranging from PHP2,000 to PHP15,000. This flexible range caters to the financial needs of individuals without requiring collateral.

Borrowers are expected to repay the loan within a period of 3 to 4 months, depending on the specific type of loan.

Understanding Cebuana Loan Interest Rate and Legitimacy

The interest rate for Cebuana Lhuillier microloans ranges from 4% to 10% per month. While this may seem relatively high, it is comparable to the rates charged by other pawnshops and lending companies.

It is important to note that Cebuana Lhuillier is a legitimate company registered with the Securities and Exchange Commission (SEC). Possessing a Certificate of Authority to operate as a financing company, Cebuana Lhuillier offers its services legally, providing customers with credibility and assurance. This registration also ensures transparency in business practices, benefiting both investors and consumers.

Applying for a Cebuana Lhuillier Loan and Processing Time

To apply for a cash loan from Cebuana Lhuillier, simply visit the nearest branch. The application process for Happy Loans is simple and straightforward. Fill out the application form, ensuring all necessary information is provided accurately. Submit the completed form along with the required documents. Once your application is approved, you can collect the loan amount from any Cebuana Lhuillier branch. Currently, a fully digital Cebuana loan online application is not available.

The loan processing time at Cebuana Lhuillier usually takes 3 to 5 days. However, it may vary depending on the branch, with busier branches potentially taking longer to process applications. Once your loan is approved, you will receive a text message notification containing the loan release code. It is important to claim your loan within 7 days; failure to do so may result in the cancellation of the approved loan.

Advantages of Choosing Cebuana Lhuillier for Your Loan Needs

Cebuana Lhuillier offers several benefits that make it an attractive choice for borrowers:

  1. Quick and easy application process: Borrowers can conveniently apply for a loan at any Cebuana Lhuillier branch nationwide.
  2. Minimal loan requirements: The documentation required for loan applications is minimal, simplifying the process for borrowers.
  3. Convenient disbursement and repayment options: Loan proceeds can be deposited directly into your bank account or picked up at any Cebuana Lhuillier branch, providing flexibility and convenience.

Essential Requirements for Cebuana Lhuillier Loan Application

In order to qualify for a loan from Cebuana Lhuillier, certain requirements must be met. These requirements include:

  1. Accomplished application form: Fill out the loan application form accurately and completely.
  2. Valid photo ID: Provide one valid photo ID such as a passport, driver’s license, SSS (Social Security System) ID, or GSIS (Government Service Insurance System) ID.
  3. Proof of income: Submit your latest pay slip (for one month), Certificate of Employment, and latest Income Tax Return (ITR).
  4. Proof of residency: Provide a billing statement from Meralco, Maynilad, or any other utility company as proof of residency.
  5. Additional documents: If you are a pensioner with a regular monthly pension, you will need to submit proof of entitlement or a bank statement. If you are unemployed but receive a monthly remittance, provide proof of payout transactions for the last three months and a Certificate of Remittance.

Utilizing Loan and Appraisal Calculators

To assist borrowers, Cebuana Lhuillier offers useful calculators:

  1. Loan calculator: To estimate your monthly payments, utilize the loan calculator by entering the loan amount and term. This tool provides an overview of your monthly repayment amount, enabling you to plan your finances accordingly.
  2. Appraisal calculator: If you are considering pawning your belongings, Cebuana Lhuillier provides an appraisal calculator on their website. Simply input the item’s weight and karat purity to receive an estimate of its value based on the current gold price and Cebuana Lhuillier’s buying rate. This valuable tool helps you determine the worth of your items before pawning them, ensuring fair deals.

Loan Repayment Options and Consequences of Non-payment

Loan repayments can be made at any Cebuana Lhuillier branch nationwide. Fill out the payment slip and present it to the teller along with your payment.

Failure to pay your quick cash loan may result in various consequences. If you are unable to make payments, you will receive notifications regarding the status of your loan, accompanied by payment demands. Additionally, late payment fees may be charged on the outstanding balance. Continuous failure to make payments may lead to the loan being considered in default, which can result in legal action being taken against you.

Pawn Your Items with Ease Using the Cebuana Xpress App

If you are not approved for a loan, Cebuana Lhuillier offers an alternative solution through their Cebuana Xpress App. This user-friendly app allows you to pawn your jewelry quickly and conveniently from the comfort of your own home. With just a smartphone and a reliable internet connection, you can turn your old jewelry, electronics, or other valuables into cash.

Using the app is straightforward: Take a photo of your jewelry and upload it. Cebuana Lhuillier will then appraise your items and provide a loan offer within minutes. Upon accepting the offer, send your jewelry, and the funds will be released into your account. The app also enables you to track your pawned items easily. As the app is powered by Cebuana Lhuillier, you can trust that you will receive a fair price for your items. Additionally, you can use the app for payments, bill settlement, or purchasing mobile load.

For a convenient solution to your financial needs, download the Cebuana Lhuillier Xpress App from the Apple App Store or the Google Play Store.

Contact Cebuana Lhuillier for Inquiries and Assistance

If you have any questions or require assistance, you can reach out to Cebuana Lhuillier through the following contact details:

  • PLDT: (+632) 8779-9800
  • Globelines: (+632) 7759-9800
  • Inquire via text message:
    • Globe: 0917-8122737
    • Smart: 0918-8122737
    • Viber app: 0917-8122737
  • Email address: [email protected]
  • Address: 1782 Candelaria, corner Nicanor Garcia Streets, Makati City, Metro Manila, Philippines

To find Cebuana Lhuillier branches near you, utilize their branch locator, which provides contact numbers as well.

Customer Reviews of Cebuana Lhuillier Loans

Cebuana Lhuillier receives positive reviews from borrowers who appreciate the straightforward loan application process and minimal documentation requirements. It is highly regarded for its accessibility when it comes to obtaining small loans for unexpected expenses.

One common complaint is the slow loan processing, particularly in busier branches. However, this can be resolved by visiting less crowded branches in your area. Overall, Cebuana Lhuillier is an excellent choice for individuals unable to secure loans from banks or other lending institutions.

5/5 - (15 votes)
CashLoanPH Changed status to publish 08/06/2023