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Easycash Review

A job is both a privilege and a responsibility because some struggle to find a stable one that can be a means to meet basic needs. With the ever-increasing prices of commodities and the inflation ravaging the global economy, low-income earners struggle to make ends meet, whether paying utilities or tuition fees. Some will instead choose to apply for a loan as a short-term solution.

It’s impossible to have quick loan approval in banks because of the stringent requirements and eligibility criteria. But fortunately, with Easycash, you may enjoy a fast loan approval in 24 hours. You’re not bound by time and accessibility because you can apply for a loan anytime online. Here’s an overview of Easycash loan products and services, features, benefits, and how to get started.

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Written by: Piggyy

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Author

Loan Amount

Php5,000 - Php200,000
4.3/5
4.3/5

Piggyy Rating

Easycash
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APR:

Personal Loan: 10% interest rate per month
Seafarer Loan- depending on client evaluation

Loan Amount:
Seafarer: Php20,000 to Php200,000
Personal Loan: Php5,000 to Php10,000
Business Loan: mimimum of Php200,000

Loan Term:
Personal Loan: 1 month to 2months
Seafarer Loan: 1 month to 10 months
Business Loan: 3 months to 9 months

Loan Term

1 - 10 months

Est. APR

% 10

Loan Amount

Php5,000 - Php200,000
Pros
  • Provides access to higher loan amounts dependimg on credit evaluation
  • Safe and secure transactions
  • Very Accessible
Cons
  • Loan application can only be done online so those who are not tech savvy might face challenges in the loan application.

Company Information

 

Easycash has a customer-first approach in its operations, ensuring each customer has a memorable and stress-free experience and will become repeat customers. In addition, it’s committed to hiring only the best in the industry, and clients will receive only the best kind of service they can offer. 

 

As a technology-driven company, it ensures efficient turnaround of inquiries, applications, and customer service support. Easycash caters to individuals and small businesses who want to improve their financial status in life or expand their businesses. What other way to do that than obtaining financial support from Easycash – it is fast, affordable, and straightforward. 

 

Easycash’s main office is at 9th Floor Times Plaza Building, United Nations Avenue, Ermita, Manila. For queries or other loan concerns, you can contact their customer service team at:

 

  • (02) 8353 8525,
  • 0947 5956151 (Smart)
  • 0927 784 7091 (Globe) 
  • Their email at [email protected]

 

Types of Loans Offered

The services available with Easycash are catered mainly to the working class Filipinos and small business owners. This is especially important because, with the changing times, people rely more and more on small businesses for their everyday needs. 

 

To be eligible for any of these loans, you must first satisfy the eligibility criteria and fulfill the requirements. 

 

Seafarer Loan

 

The loanable amount available is a minimum of ₱20,000 up to ₱200,000. For higher amounts, the applicant can visit the main office of Easycash and inquire with the loan servicing specialist. 

 

Eligibility Criteria:

  • The seafarer must be a Filipino citizen not older than 60 years old
  • Must have a current and ready contract of deployment certified by their agency
  • With a confirmed departure date of not more than 30 days
  • With at least two (2) finished contracts upon loan application

 

Requirements:

  • POEA stamped Contract of Employment
  • SRC/SIRB – Seafarer’s Registration Certificate/Seafarer’s Identification and Record Book
  • Updated and latest Allotment Slip
  • Passport
  • Latest Proof of Billing
  • SSS or TIN Number must be provided

 

Once all the requirements are submitted, Easycash will process the loan within 24 hours, and you must settle your monthly amortization within 1 to 10 months, depending on the contract. The processing fee and interest rates are based on the terms you agreed with the loan servicing specialist. 

 

For Seafarer Loans, you need a co-borrower in the prequalification process, and you may appoint your allottee provided the following criteria:

 

  • Must have a regular source of income and demonstrates a capacity to pay
  • Must submit the required documents for loan application
  • Must NOT be a work colleague

 

Business Loan

 

Business owners may apply for a minimum loan amount of ₱200,000. The interest rate and processing fee will depend upon the client evaluation that Easycash will conduct. Once the application has been completed and the requirements are submitted, the loan application processing can take three to four days. 

 

Eligibility Criteria:

  • Must not be older than 55 years old
  • A Filipino citizen residing in Metro Manila or nearby provinces
  • Must be the owner of a duly licensed and registered business located in a favorable area
  • Businesses must provide products or services that are morally allowed
  • Business is at least two (2) years in profitable operation
  • Business must have an asset of at least PHP 1,000,000

 

Requirements:

  • Fully accomplished application form and loan proposal
  • Fully accomplished net worth and datasheet
  • Business licenses and registration
  • Latest two-year financial statement
  • Bank statement for the last 12 months

 

Aside from the abovementioned requirements, you can also avail of optional collateral loan financing, which will depend on the terms agreed upon with Easycash. The acceptable properties for collateral are real estate and automobiles. 

 

A co-borrower is also required for business loans as part of their prequalification process. A co-owner of the business or a relative can become a co-borrower provided they meet the following:

 

  • Must have a regular source of income and demonstrates a capacity to pay 
  • Must submit the required documents for loan application

 

Personal Loan

 

If you’re looking to apply for a personal loan, you can avail the loan amount of ₱5,000 up to ₱10,000. For higher loan amounts, you can visit the main office of Easycash for more details. Interest rates vary, but you may use the loan calculator to get an estimate. 

 

Easycash doesn’t charge processing for the personal loan and the application process will take between one to two days as long as you have complete documentation.

 

Loan repayment can be from 1 to 2 months, giving clients ample time to repay the loan amount. 

 

Eligibility Criteria:

  • Must be 21 to 49 years old
  • Must be a Filipino citizen with residence in Metro Manila or any of its nearby provinces
  • Must be a regular employee, self-employed with 2 years of profitable operations

 

Requirements:

  • Any two of the following government-issued IDs: SSS, Driver’s License, TIN, Passport, UMID, PRC
  • Latest Payslip
  • Company ID
  • Recent proof of billing under the loan applicant’s name (Electric Bill, Water Bill, Postpaid Telco Bill, Credit Card Bill)

 

Ensure that all scanned and uploaded documents are clear and readable for a smooth verification process. Should you lack any of the required documents above, there is no need to worry. The loan servicing specialists can assist applicants with alternate documents.

 

Repayment Options

 

Once your loan application is approved, the loan servicing specialist will inform you of the complete loan details, including the approved loan amount, payment terms, and the repayment schedule. 

 

Settling your loans is convenient and straightforward at Easycash. Choose from any of the payment options, so you won’t have to deal with late payment fees and other penalties:

 

  • Post-Dated Checks (PDCs)
  • Nominated allotment bank account (For Seaman Loan)
  • Dragon Pay
  • Gcash
  • BDO – under the account name of Easycash Lending Company Inc
  • BPI – under the account name of Easycash Lending Company Inc

 

Ealy settlement of loan is acceptable and can help you build your credit standing, resulting in favorable loan terms the next time you apply for another loan. In case loan amounts are not paid on the due date, clients can directly contact Easycash’s Collection Management Team through:

 

  • Email: [email protected]
  • Telephone numbers:
    • (02) 8 254 6529
    • (02) 8 353 8524
    • (02) 8 3538525
    • (0919) 264 3410
    • (0927) 774 5686

 

Why Choose Easycash

Some might think that traditional financing is more secure than online financing companies. However, an online financing facility like Easycash cannot operate without the approval of the Securities and Exchange Commission. That means Easycash is a legal and secure entity operating in the Philippines. However, this alone is not just a reason for customers to choose Easycash. 

 

Here are the other reasons why: 

 

Easy and Convenient

 

No matter what time of the day, apply for a loan in the comfort of your home instead of traveling from one place to another. Easycash offers a straightforward application process that lets you submit requirements on the website. You can easily receive the loan proceeds in your bank account for personal loans. 

 

Flexible Payment Options

 

Easycash gives you time and the option to pay according to your capacity. That’s why interest rates may vary as per your loan requirements. The company lives up to its mission of putting customers first. After all, the goal is to help those financially struggling and provide reasonable terms. 

 

Safe & Secure

Borrowers and co-borrowers will provide personal and confidential information to Easycash. They do not have to worry because Easycash values the confidentiality of the information provided and shall keep that data secured. 

 

Access to Larger Loan Amounts

Another great feature of the loan services of Easycash is that its loanable amounts are not capped at a certain amount. Instead, larger amounts can be approved depending on the client evaluation conducted by Easycash. With this feature, customers can access funds and fulfill whatever goals they have. 

 

How to Signup

Signing up for a loan with Easycash is simple and involves only three steps: 

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Click the button below and go to their site.

Click on the signup button located on the upper right side of the screen. You can either sign up using your Facebook account or through your mobile number.

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After verifying your contact number or Facebook account, you will be immediately led to your profile where you can see your loans dashboard. From there, you will be able to select which type of loan you want to apply for.

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Complete All Details Online For purposes of this walkthrough, here is what a typical personal loan application looks like. You can select the amount that you want to apply for, the repayment terms, and the purpose of the loan.

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You will then be asked to provide details on your source of income, employment details, and your employer details.

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The next page will ask for your details. You do not have to worry about providing your data to Easycash because all information is safe and secured.

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Get approved Once all the information is entered and all documents are uploaded, simply accept the terms and conditions for the loan application and expect a call from the Easycash team to verify all of the supplied information.

Conclusion

People can face many financial challenges in life that could make or break their goals. With Easycash, they are given the possibility of being a step closer to what they want to achieve in life. 

 

Being able to reach more and more deserving Filipinos and Business Owners uplifts a community and the quality of their lives. This means a lot more Filipinos are given a chance to be financially secure and independent. 

 

Lastly, with their easy loan application and simple process, Filipinos are afforded the convenience of transacting with them even at the comfort of their homes without having to take a leave of absence from work.

Piggyy

״The secret of happiness, is not found in seeking more, but in developing the capacity to enjoy less״ - Socrates

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