Cashalo is an app that enables Filipinos to get loans on demand, without having to sacrifice any of their valuable assets. It provides payday loans and other credit products to people who can’t get credit from traditional lenders. It’s a fast and convenient way to get cash, but there are some things you should know before using the service.
Legitimate and Safe to Use
One of the best ways to ensure you’re dealing with a legitimate company is to check their registration credentials. The website of the Securities and Exchange Commission (SEC) contains a list of registered companies. If an organization is listed on the SEC website, it’s a good sign that they work under the law and have passed all the necessary inspections.
Oriente Express Venture
All Cashalo loans are backed by the Hong Kong-based Oriente Express Venture. Its https://alloansonline.com/lenders-loan/cashbus/ other investors include Gokongwei-owned JG Summit Holdings and Paloo Financing Inc. This makes Cashalo a reputable and trustworthy loan partner.
Reliable Online Banking Services
Unlike many other lending apps, Cashalo has its own online bank account, which allows you to transfer funds from your Cashalo account into your regular banking account. You can also use the money to make payments for your bills or expenses.
Cashalo also offers a free finance calculator, which can help you figure out how much you can borrow and how to pay it back. This tool can save you time and money, so it’s well worth using.
Shop Now and Pay Later
Another feature of the Cashalo mobile app is “buy now, pay later.” This allows you to purchase items on Lazada and pay them off in installments. It’s a great option for buying new gadgets or appliances that may be expensive in a single payment.
The application is easy to use and requires no previous credit history or collateral. It’s also very secure and can be accessed by anyone who owns a smartphone.
Applying for a Cashalo Loan
The first step in applying for a Cashalo loan is to download the app on your phone and create an account. You’ll then need to submit an ID and a proof of income to verify your identity. Once your application is approved, you’ll receive an email or SMS letting you know that your loan has been approved and funds are ready to be transferred to your account.
Depending on the type of loan you are getting, there are different interest rates and repayment terms. The lowest effective rate can be as low as 2%, but it’s best to check the details before you apply.
What Can Happen If I Don’t Pay My Loan?
If you don’t pay your Cashalo loan on time, there are a number of consequences. If you default on a loan, you’ll likely lose the amount you owe and could face other financial complications.
If you’re considering a Cashalo loan, it’s important to read the terms and conditions carefully. It’s also wise to compare different companies and find one that meets your needs. You should always try to choose a lender that offers flexible repayment options.