Vamo Loan Philippines Review

0, a digital lending platform, has emerged as a trusted provider of short-term loans in the Philippines. Operating as a subsidiary of VIA SMS Group, a prominent Latvian fintech company with a solid track record of over a decade in the consumer lending industry, ventured into the Philippine market in 2021. In a relatively short span, it has successfully disbursed over 1 billion pesos in loans, establishing itself as a significant player in the local lending landscape.

Loan Offerings and Terms: caters to the financial needs of individuals by offering loans ranging from 3,000 to 30,000 pesos, providing borrowers with the flexibility to choose the loan amount that suits their requirements.

The repayment terms extend from 3 to 6 months, allowing borrowers to select a duration that aligns with their financial capabilities. While the interest rate of 11% per annum may appear higher than the average interest rate for personal loans in the Philippines, it is important to note that primarily caters to borrowers with poor credit scores, individuals who may face challenges in securing loans from traditional banking institutions.

Thus, the slightly higher interest rate is a reflection of the platform’s willingness to extend its services to a broader range of borrowers who are often neglected by conventional lenders.

Application Process: ensures a hassle-free and efficient application process, acknowledging the value of time and convenience for its customers.

To qualify for a loan, applicants must meet a few criteria: they must be Filipino citizens, at least 18 years old, and possess a valid Philippine ID.

Additionally, proof of income and a bank account are necessary to complete the application. The process itself is swift and straightforward, enabling applicants to complete the necessary steps with ease. Upon submission, applicants can expect a decision on their loan application within minutes, a significant advantage in urgent financial situations where time is of the essence.

Loan Utilization:

The versatility of loans allows borrowers to utilize the funds for various purposes. Whether individuals need to consolidate their existing debts, cover unexpected expenses, or make significant purchases, loans provide the necessary financial support.

Once the loan application is approved, borrowers can expect the funds to be deposited directly into their designated bank accounts within 24 hours, ensuring quick access to the much-needed finances. This efficient disbursement process enables borrowers to address their financial requirements promptly, without experiencing unnecessary delays.

Pros and Cons of Loans:


  1. Streamlined Application Process: takes pride in offering a simple and efficient application process, minimizing the time and effort required from applicants. This user-friendly approach ensures a seamless borrowing experience.
  2. Swift Fund Disbursement: One of the standout features of is its ability to disburse approved loan amounts directly into borrowers’ bank accounts within 24 hours. This prompt fund disbursement enables borrowers to access the funds swiftly, allowing them to fulfill their financial obligations or address urgent needs promptly.
  3. Accessibility for Poor Credit Scores:’s commitment to inclusivity sets it apart from many competitors. By providing loans to borrowers with poor credit scores, who may have been rejected by traditional banks, extends financial assistance to a segment of the population that is often overlooked.
  4. Flexible Repayment Terms: Recognizing the varying financial circumstances of its borrowers, offers flexible repayment terms, spanning from 3 to 6 months. This flexibility allows borrowers to tailor their repayment plans to align with their income streams and ensure manageable monthly installments.


  1. Comparatively Higher Interest Rate: It is essential to note that the interest rate on loans is higher than that of traditional bank loans. While this may appear as a drawback, it is a reflection of the platform’s willingness to cater to individuals with poor credit scores who might not have other borrowing options.
  2. Restricted Eligibility Criteria: loans are exclusively available to Filipino citizens who are at least 18 years old and possess a valid Philippine ID. While this ensures compliance with local regulations, it restricts access to non-citizens or individuals who do not meet the specified criteria.
  3. Potential Additional Fees for Late Payments: As with any loan, late payments on loans may result in additional fees or penalties. Borrowers must ensure timely repayments to avoid incurring these extra charges.

Alternative Loan Options in the Philippines:

  1. Personal Loans from Banks: Traditional banking institutions offer personal loans with relatively lower interest rates compared to However, the application process for bank loans is often more complex and time-consuming. Moreover, banks may require collateral as a security measure.
  2. Microfinance Institutions: Microfinance institutions focus on providing loans to low-income borrowers. While the interest rates offered by microfinance institutions are typically higher than those of traditional banks, the application process is simpler, and collateral may not be required.
  3. Peer-to-Peer Lending Platforms: Peer-to-peer lending platforms have gained popularity as alternative lending options. These platforms connect individuals looking for loans with potential lenders. While the interest rates offered on peer-to-peer lending platforms are often lower than those of traditional banks, the application process may be more involved.


When seeking a loan, it is crucial to thoroughly compare interest rates, fees, and terms offered by different lenders. emerges as a viable option for individuals in need of short-term loans, particularly those with poor credit scores. While the interest rates may be slightly higher, compensates by providing accessibility, a swift application process, and flexible repayment terms.

However, it is always prudent for borrowers to assess their financial situation and carefully consider alternative lenders before finalizing a loan agreement. By conducting comprehensive research and making informed decisions, borrowers can select the loan option that best suits their needs.

5/5 - (6 votes)
CashLoanPH Changed status to publish 05/06/2023