Pesoredee Loan PH Review: Is it Legit? Repayment Options, App APK, and Contact Information [New Update]

In the ever-evolving landscape of financial services, the Philippines has seen a surge in the popularity of online lending platforms. One such platform that has garnered considerable attention is Pesoredee Loan. This review delves into the intricacies of Pesoredee, shedding light on its legitimacy, repayment options, and the availability of its mobile app in 2024. CashLoanPH will explore each facet of this financial service provider in detail to provide you with comprehensive insights and help you make an informed decision.

Summary of Pesoredee Loan PH

What is Pesoredee?

Pesoredee: A Fintech-Powered Financial Solution

Pesoredee operates as a financial service provider underpinned by Fintech technology, developed by Peso Redee Financing Inc. The essence of Pesoredee lies in its ability to deliver swift financial solutions to meet the ever-pressing needs of the Filipino populace. One distinct feature that sets Pesoredee apart is its online application process, which eliminates the need for face-to-face interactions or field appraisals.

The Loan Limit Pesoredee allows borrowers to access loans ranging from 1,000 to 30,000 pesos, a spectrum that caters to a wide array of financial requirements. It is notable that first-time borrowers are typically approved for a maximum loan amount of 7,000 pesos, providing an accessible entry point for those new to the platform.

Pros of Pesoredee Philippines

No Proof of Income, No Collateral, No Guarantor Required

One of the standout features of Pesoredee is its flexibility in terms of loan requirements. Unlike traditional lenders, Pesoredee does not mandate proof of income, collateral, or the involvement of a guarantor. This makes it an inclusive option for a broad range of individuals, including those who might not meet conventional lending criteria.

Register Online: Anytime, Anywhere, 24/7 Support

Pesoredee understands the importance of accessibility. Users can initiate the loan application process from the comfort of their own homes, at any time, without the constraints of traditional banking hours. Furthermore, Pesoredee ensures round-the-clock support, even on weekends and holidays, making it a reliable option for those in urgent need of financial assistance.

The Loan Procedure: Simplified with 1 Valid ID

The application process for Pesoredee is refreshingly straightforward. Unlike the paperwork-heavy processes of traditional lenders, Pesoredee only requires one valid ID for verification, streamlining the process significantly.

Automatic Application Approval within 5 Minutes

Speed is often of the essence when seeking financial assistance. Pesoredee excels in this regard, as its system can automatically approve loan applications within a mere 5 minutes. This rapid turnaround ensures that borrowers can access funds promptly, addressing their immediate financial concerns.

Transparent Costs and Interest Rates

Transparency is a fundamental tenet of Pesoredee’s operations. Before borrowers commit to borrowing, they have access to all relevant cost and interest rate information. This transparency is vital in enabling borrowers to make well-informed decisions about their financial obligations.

Payment Extension Option

In recognition of the unpredictability of life, Pesoredee offers an option for borrowers facing financial difficulties. If a borrower is unable to make a payment when it’s due, they can extend the payment period by 14 days. This feature provides a safety net, allowing borrowers some leeway in managing their repayments during challenging times.

Personal Information Confidentiality

Concerns about data privacy are paramount in the digital age. Pesoredee addresses this by ensuring the absolute confidentiality of borrowers’ personal information, instilling trust in its users.

Cons of Pesoredee Loan App

In conjunction with its advantages, Pesoredee also exhibits some limitations:

Service Fee for Online Loan Applications

Pesoredee, like many online lending platforms, charges a service fee when users apply for loans through their website. This is a common practice within the industry, and it’s important for borrowers to be aware of these additional costs.

Loan Limit May Not Suit Large Financial Needs

While Pesoredee offers loans that can be valuable for various purposes, its upper limit might not suffice for individuals with substantial financial requirements. Borrowers seeking larger loan amounts may need to explore alternative lending options.

Higher Interest Rates and Short-Term Installment Periods

It’s worth noting that Pesoredee’s interest rates, though competitive within the online lending industry, can still be relatively high when compared to traditional bank loans. Additionally, the relatively short-term installment periods may not be suitable for borrowers looking for longer repayment durations.

Pesoredee Interest Rate

The interest rates offered by Pesoredee typically average around 11.9% per month, with a maximum annual APR (Annual Percentage Rate) reaching up to 143%. It’s essential to be aware of these rates and their implications when considering a loan from Pesoredee.

Example of Pesoredee Interest Rate Calculation

To provide a clear illustration of how interest rates are applied, consider the following example:

Suppose a customer applies for a Pesoredee app loan with a limit of 10,000 pesos and selects a repayment period of 3 months. In this scenario, the APR would amount to 143%. Over the course of the 3-month term, the total amount payable would be 13,570 pesos, with monthly installments of 4,523 pesos.

Pesoredee Loan Requirements

To be eligible for Pesoredee loans, applicants should meet certain criteria:

Filipino Citizenship

Pesoredee loans are open to Filipino citizens, ensuring that the service caters to the needs of the local population.

Age Range: 22 – 70 years old

Applicants must fall within the age range of 22 to 70 years to be eligible for Pesoredee loans.

Stable Employment

To demonstrate their ability to repay the loan, borrowers should have stable employment. This ensures that they have a regular source of income to cover their financial obligations.

E-Wallet or Bank Account

An essential requirement for receiving disbursements is an e-wallet or a bank account. Borrowers should have one of these financial instruments to facilitate the transfer of loan funds.

Pesoredee First Loan

The procedure for registering for a first-time loan with Pesoredee is relatively straightforward. Borrowers need to provide their personal information and submit a photo of their valid ID for verification purposes. It is worth noting that first-time loans on Pesoredee are typically approved for a maximum limit of 7,000 pesos.

Pesoredee 2nd Loan

For returning borrowers, the process for securing a second loan is even more straightforward. Returning users can log back into their existing accounts and submit the required loan approval information. After this, they need to await disbursement, with the maximum amount for a second loan on Pesoredee extending to 30,000 pesos. This streamlined process is a testament to the platform’s commitment to user convenience.

Guide to Pesoredee Loan Application Step-by-step

To facilitate a smooth loan application process, Pesoredee has laid out clear and easy-to-follow steps:

PESOREDEE LEGIT LOAN WEBSITE

Step #1: Access Pesoredee’s Home Screen

If you’re applying for a loan using a computer, visit the Pesoredee website. Alternatively, if you prefer the convenience of a mobile app, download the Pesoredee app from the provided link. Once you have accessed the platform, you can select the loan amount that aligns with your financial needs and click the “Apply” button.

Step #2: Confirm Your Phone Number

Enter your personal phone number during the application process. The system will send an OTP (One-Time Password) via SMS for verification purposes. Before proceeding, it’s crucial to read Pesoredee’s terms and conditions and, if you agree to them, click the “Accept” button to initiate the loan application process.

Step #3: Fill in Personal Information

Subsequently, you will need to provide personal information. This typically includes details such as your full name, gender, email address, date of birth, and physical address. Accuracy in providing this information is crucial to expedite the application process.

Step #4: Take a Photo of Your Personal ID

As part of the identity verification process, borrowers will be required to take a clear photo of one valid ID. Acceptable forms of identification often include driver’s licenses, PhilHealth IDs, PRC IDs, UMID cards, GSIS IDs, PhilSys IDs, SSS IDs, Voter’s IDs, passports, postal IDs, and TIN (Tax Identification Number) IDs. Providing this ID is essential for confirming your identity and facilitating the loan application process.

Step #5: Enter Your Account Number or E-Wallet

To receive disbursements of approved loans, borrowers should input their personal bank account numbers or e-wallet details. This step is vital for the smooth transfer of funds and ensuring borrowers have access to the financial assistance they require.

Step #6: Wait for Approval and Disbursement

The beauty of Pesoredee lies in its speed and efficiency. Upon submission of the required information, the system automatically processes loan applications in a mere 5 minutes. Upon approval, the funds are promptly disbursed on the same day. The disbursement process is quick and seamless, with the money being transferred to the bank account number or e-wallet provided by the borrower during the application process.

This streamlined and efficient process ensures that borrowers can access the financial support they need promptly, making Pesoredee a valuable resource for individuals facing urgent financial situations.

Pesoredee Repayment

Repayment is a critical component of any loan, and Pesoredee provides multiple options to accommodate borrowers’ preferences. Here are the available repayment methods:

Pay via GCash or Coins.ph Wallet

For users who prefer digital payment methods, Pesoredee offers the option to pay via GCash or Coins.ph wallets. To facilitate this, borrowers can follow these steps:

1. Log in to your GCash or Coins.ph wallet.
2. Select “Pay Bills.”
3. Choose the “Loans” category.
4. Locate “Dragon Loans” (the parent company of Pesoredee).
5. Fill in the required information, including the reference number, contact number, and the amount to pay.
6. Click “Next” and then “Confirm” to complete the transaction.

This option provides a seamless and digital method for borrowers to fulfill their repayment obligations efficiently.

Pay Cash at Payment Centers

Pesoredee also acknowledges that some borrowers may prefer to make cash payments. To accommodate these users, Pesoredee allows payments to be made at physical payment centers. These centers include 7-Eleven, Cebuana Lhuillier, SM, Paymaya, Shopee Pay, and more. The flexibility in payment methods ensures that borrowers can choose the option that aligns with their preferences and circumstances.

Pay Directly Through the Pesoredee Personal Account Section

For borrowers who prefer a direct and straightforward approach, Pesoredee offers the option to pay directly through the personal account section of the Pesoredee homepage. This involves logging in to the Pesoredee PH account and following the on-screen instructions to complete the payment. This method offers ease and simplicity for borrowers who are already familiar with the Pesoredee platform.

Compare Pesoredee Loan App Philippines with Other Loan Apps

To make an informed decision about choosing Pesoredee as your preferred loan provider, it’s valuable to compare it with other loan apps available in the Philippines. By evaluating various criteria, you can gain a deeper understanding of how Pesoredee stacks up against the competition. Here’s a comparative breakdown:

By assessing these criteria, you can better understand how Pesoredee compares to other loan apps in terms of loan limits, interest rates, repayment periods, age requirements, and the time needed for the application process. This comparative analysis can guide you in choosing the loan app that aligns with your specific financial needs.

Pesoredee Customer Service in the Philippines

For users who require assistance or have inquiries related to Pesoredee loans, the platform offers reliable customer service. Here are the contact details:

• Peso Redee Financing Inc.
• Address: Unit 204 Pacific Center Condominium, 33 San Miguel Ave, Brgy. San Antonio, Pasig.
• Pesoredee reference number: 02453348509.

FAQs – Pesoredee Legit Loan App in the Philippines

Is Pesoredee Legit or Not?

It’s natural to be cautious when exploring new lending platforms. Pesoredee, however, operates with legitimacy, holding the Securities and Exchange Commission (SEC) registration number CS201804564. In addition to this, it possesses a Certificate of Authority #1165. Furthermore, Pesoredee is registered with the National Privacy Commission, demonstrating its commitment to complying with data privacy and security regulations. These official registrations affirm the legitimacy of Pesoredee as a credible lending platform.

How to Pay Pesoredee Using GCash?

To make payments to Pesoredee using GCash, follow these steps:

1. Log in to your GCash account.
2. Select “Pay Bills.”
3. Choose the “Loans” category.
4. Look for “Dragon Loans,” the parent company of Pesoredee.
5. Input the required details, including the reference number, contact number, and the amount you wish to pay.
6. Click “Next” to proceed with the transaction, and then “Confirm” to finalize the payment.

This method provides a convenient and straightforward means of making repayments to Pesoredee using a widely recognized digital wallet service.

Is Pesoredee SEC Registered?

Yes, Pesoredee is registered with the Securities and Exchange Commission, holding the registration number CS201804564. This registration ensures that Pesoredee complies with the regulatory standards set forth by the SEC, assuring users of its legitimacy.

What Is the Pesoredee Customer Service Number?

For inquiries and assistance, Pesoredee users can contact the platform at the following number: 02453348509. Additionally, users can reach out via email at [email protected]. The customer service operating hours are from 8 am to 5 pm, from Monday to Friday.

Conclusion

In the complex world of financial services, choosing a lending platform is a significant decision. Pesoredee offers a legitimate and accessible solution for Filipinos seeking financial assistance. With loan amounts ranging from 1,000 to 30,000 pesos and the unique advantage of a 0% interest rate for first-time borrowers, Pesoredee is positioned as a reputable and convenient lending platform.

The platform distinguishes itself through its respectful and efficient customer service, streamlined application process, transparent terms, and flexible repayment options. These qualities make Pesoredee a compelling choice for those facing urgent financial needs or seeking a hassle-free lending experience.

VISIT PESOREDEE LOAN WEBSITE

If this article has been helpful in your search for a financial solution, please consider rating it with 5 stars to help others access this valuable information. For any additional inquiries or questions regarding Pesoredee loan reviews, feel free to leave a comment, and we will respond promptly. Your financial well-being is of paramount importance, and Pesoredee may hold the key to the financial assistance you require.

Source: Pesoredee.PH