MoneyCat Financing Inc., the company behind this loan application service, publishes SEC Registration No. CS201953073 and Certificate of Authority No. 1254.
What you need to know about this loan
- Loan amount: From PHP 500 to PHP 20,000; your approved amount may differ from your initial request.
- Repayment period (in months): The product overview advertises 3 to 6 months, while the FAQ specifies 65 to 180 days, depending on the product and your credit profile.
- Payment options: Repayment through Dragonpay using the payment methods available for your account.
- Interest rate: First-time borrowers are offered 0% interest and no processing fee; the product overview lists 11.9% monthly interest and a maximum APR of 145% for its standard offer.
Before completing your loan application, review the applicable interest, fees and total repayment. For repeat borrowers, pricing depends on the approved amount and term; MoneyCat says good repayment standing may lead to lower rates.
Advantages
- First-loan promotion: First-time borrowers can access the advertised 0% interest offer without a processing fee, subject to the approved conditions.
- Small borrowing amounts: Request as little as PHP 500 instead of taking a larger loan than you need.
- Online application: Apply without visiting an office or bringing references.
- Quick decision updates: MoneyCat advertises application results by email or SMS in as fast as five minutes and within 24 hours, with possible verification calls.
- Convenient repayment channels: Choose from the Dragonpay payment methods available for your account.
Disadvantages
- High standard borrowing cost: The product overview lists 11.9% monthly interest and a maximum APR of 145%, making the total repayment an important consideration.
- Requested terms may change: The approved amount, term, fees and repayment total may differ from your initial selection.
Why choose MoneyCat for your loan?
BPI Personal Loan requires income documents. MoneyCat advertises an online loan application without income confirmation, simplifying the initial process.
BDO Personal Loan starts at PHP 10,000. MoneyCat’s minimum loan amount is PHP 500, helping borrowers cover a smaller expense without requesting as much.
Metrobank advertises processing in as fast as seven banking days. MoneyCat advertises a loan application decision in five minutes to 24 hours, subject to verification.
EastWest Personal Loan starts at PHP 25,000. MoneyCat offers a loan amount from PHP 500 to PHP 20,000, providing an option for smaller financing needs.
CTBC Salary Stretch lists an employer ID and payslip among its requirements. MoneyCat lets you start an online loan application without the advertised income confirmation.
How to apply for your MoneyCat Online Loan
Need a smaller amount for an immediate expense? Click below to check the requirements, understand the costs and prepare your MoneyCat loan application.