Company Information
Lendpinoy is a loan program launched by AND Financing Corporation in December 2018 with the hope to provide quality microloans across the Philippines. Its primary goal is to offer individuals the best avenue to obtain instant cash with fewer requirements and a convenient online application process.
As a financial service that is operating completely online, all transactions made and soon to be made in this loan program are digital. It has AI-based credit scoring and advanced technologies that help in properly evaluating, generating, collecting, and transferring funds among its eligible borrowers.
Over the years, the lending company has remained committed to performing its role with its very own loan program that serves as a financial solution for Filipinos who are in dire need of cash. In addition, Lendpinoy further addresses the concerns and questions of their customers online through their customer support chat system.
As a legitimate loan provider, AND Financing Corporation is registered with the Securities and Exchange Commission (SEC) with Registration No. of CS2018840930 and Certificate of Authority No. 1187.
All customer service concerns and inquiries may be directed at +639-17-877-5363 for Globe users or +639-61-660-0658 for Smart users. They can also send an email at [email protected].
Products and Services Offered
Lendpinoy currently has two loan products available for the Filipino people: Single-time Payment Loan and a Term Loan.
Single-Time Payment Loan
As the name implies, a single-time payment loan is offered to borrowers to be paid once when the repayment date becomes due. This type of loan is not charged an interest rate but borrowers will only need to pay a 15% fee.
This type of loan is perfect for those who wish to address an urgent need that is minimal and does not require a huge cash outlay.
Loan Features
Loan Amount: Php 3,000 up to Php 25,000
Loan Tenure: 30 days
Term Loan
While a Single-time Payment Loan allows borrowers to repay their loan within one specific period, a Term Loan requires borrowers to pay back their loan in regular repayments over a set period of time and has an unfixed interest rate that adds to the additional balance for repayment. It can still, however, be used for the same purposes as with Single-time Payment Loans.
Loan Features
Loan Amount: Php 5,000 up to Php 60,000
Loan Tenure: Within 3 or 6 months
Interest Rate: 6% per month
Eligibility Criteria
- Must be at least 21 years old and above upon loan application
- Must be employed in a company or institution located in Metro Manila
- Must be regularly employed for the past 6 months or more
- Must be currently residing around Metro Manila, Cavite, Laguna, Rizal, or Bulacan
- Must be receiving a monthly salary of at least Php 15,000
- With an active SSS number
Requirements
- Completely filled out details in the loan application:
- Personal details
- Work information
- Must submit at least one valid government-issued ID such as the UMID, Passport, Driver’s License, PRC, or Postal ID).
- Must have a working personal email ID and mobile number.
Repayment Channels
One of the key features of Lendpinoy is that they offer convenience in terms of loan repayment, making sure that borrowers will be able to make payments on time. There are currently six (6) different methods for borrowers to settle their loan amount: Paymaya (Bank Transfer), 7-Eleven Branch and the CliQQ machine, CliQQ app, BDO Mobile App, DA5 Remittance branches, or GCash (send to bank).
Why Choose Lendpinoy?
There are many reasons why Filipinos must choose LendPinoy and it is not just limited to how easy it is to apply for a loan with them. Following are the reasons that borrowers need to consider when making a decision to proceed with a Lendpinoy loan:
Simple Online Application Process
Contrary to the typical loan application process, Lendpinoy offers its services purely online. Applicants who wish to avail themselves of any of their loan products may simply install Lendpinoy’s mobile app and get instant cash. In just a few clicks and a minute of waiting, your loan amount will be transferred to your chosen disbursement channel without having to pay a visit to any Lendpinoy branch. This matters a lot for individuals, particularly employed borrowers, whose schedules are tight and time is not enough to at least process a loan application.
Fewer Requirements
Aspiring cash borrowers usually drop the idea of applying for a loan because doing so often requires a lot of documents to submit, on top of paying additional processing fees. Aside from the rigid loan application process itself, lending companies or banks most likely look for a few more documents that applicants sometimes need time to come up with.
Fortunately, Lendpinoy is among the few lending platforms that are designed to help people gain cash with a hassle-free application process. In fact, only your personal and work information together with one (1) valid Government-issued ID are required to be presented upon your loan application. No collateral or guarantors are needed to have your loan application approved.
No Hidden Fees
When applying for a loan, borrowers sometimes unconsciously forget to check loan charges. They only take the loan amount into consideration but take additional fees lightly. In such cases, borrowers often get surprised during loan repayment because they thought they would pay less than necessary. To prevent this from happening to you, it is important that you are well aware of the fees added on top of your initial loan amount. In this way, you will be able to estimate whether or not you can repay your loan.
Lendpinoy provides its borrowers with a quality loan program by allowing them to avail of loans with no hidden additional fees. All charges that borrowers need to pay are transparent and communicated to the borrowers to make them informed of the total payment they need to make.
Quick Fund Disbursement
Receiving your loan immediately is as important as getting your loan application approved, especially at times when you are in need of cash for emergency purposes. The urgency to obtain funds matters. Thanks to Lendpinoy’s 100% online features that make quick fund disbursement possible, borrowers need not stress themselves out while waiting for cash proceeds from the loan to be released.
Wide Payment Channel Options
Even if the loan application process is simple and easy, sometimes, loan repayment turns out otherwise. With limited payment channels, borrowers hardly get a chance to pay back their loans on time. As a result, they end up paying additional late payment charges.
Lendpinoy, however, ensures that its borrowers will have a wide variety of payment channel options. They offer these to help borrowers have alternative methods to pay their loan, should they find no chance to pay through a specific payment channel.
How to Sign Up
There is only one way to sign up and apply for any type of loan offered by Lendpinoy and it is through an online application. Because Lendpinoy wants its applicants to experience a hassle-free transaction, it created a mobile app where borrowers may apply for a loan service meant to meet their needs anytime and anywhere.
The following are the steps on how to sign up using your mobile phone and Lendpinoy’s mobile application:
Go to Google Play Store or Apple App Store and install the “Lendpinoy” mobile app.
Launch the app on your phone by clicking on the “Get Started” button.
Log in to your existing account, if you already have an account with them. Otherwise, create an account to set up your Lendpinoy account.
For Existing users:
Click “Log in”
Enter your login credentials such as your registered phone number and password and click the “Log in” button once again.
For New users:
Click “Create an account”
Tick all the boxes if you match all the eligibility criteria.
Click “Continue” to proceed to the next steps.
Input your mobile phone number and click the “Continue” button to proceed.
Once the account has been created, provide the details of your address, work information, and income details.
You can proceed to select the appropriate loan option you would like to apply for and set the loan tenure you prefer to determine how long you would like to make your payment. Submit your loan application.
Wait for your loan approval. Once approved, you will receive your cash in less than a minute.
Frequently asked questions
How can I receive my loan?
How soon can my loan be transferred to my account?
Through what payment channel can I repay my loan?
Is there a chance to make a late payment for my loan?
I paid back my loan but it did not reflect on my account. How can I make a follow-up?
Is my personal data secured enough?
Conclusion
Easy access to extra cash is sometimes far from being easily achieved. Sometimes you go through a complex application process or get asked a lot of requirements. Either way makes your loan application complicated and hinders you from receiving instant cash. That is why it is essential for you to discover the best loan option and lender meant to provide for your needs to which Lendpinoy belongs. With its quality loan service, Lendpinoy will bring you a greater loan experience and benefits within a shorter turnaround time as compared with most financial institutions.
Aunt Piggyy
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