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Loan Ranger Review

What sets a loan brand apart from its competitors is the simplicity of a loan application. And this is what makes Loan Ranger enticing to Filipinos who require immediate cash relief and do not have the luxury of going back and forth fulfilling all the requirements to get a loan. If the need is only between a few thousand pesos, it makes sense that applicants should not be burdened with documentation. After all, an instant cash loan should live up to its name and provide instant disbursement.

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Written by: Piggyy

Verified by:

Author

Loan Amount

Php3,000 - Php10,000
4/5
4/5

Piggyy Rating

Loan Ranger

Loan Term

2 - 24 months

Est. APR

% 12/month

Loan Amount

Php3,000 - Php10,000
Pros
  • It serves the underbanked
  • Applications are 100% online
  • The whole process is simple and requires minimal documentation
Cons
  • Probability of getting a higher loan amount only applicable if existing loan is completely paid.

Loan Ranger is now BillEase!

You can read all about BillEase in our review here.

You are also welcome to Read all about Loan Ranger in our detailed review bellow:

 

 

Company Information

Loan Ranger is a digital Finance Corporation that is operating under the names and styles FDFC, Balikbayad, Loan Ranger, and Billease, with SEC Registration no. CS201516347, CoA no. 1101.

The main office is located at 9F TM Kalaw Center, 667 TM Kalaw Avenue, Ermita Manila. For inquiries, they can be emailed at [email protected] or call them at +639999804333 (Smart) and +639159039339 (Globe). 

 

Although loans can be applied online, those who wish to visit their main office can do so every Monday to Friday from 9:00 AM to 6:00 PM. 

 

Types of Loan Offered

There is only one type of loan that is being offered with Loan Ranger and that is the Cash Loan. Those who have an urgent cash need may apply for a cash loan easily because of its simple eligibility qualifications:

 

  • Applicant must at least be 18 years old and above
  • Should have a stable source of income
  • Has a valid government-issued ID

 

Once these eligibility qualifications are met, applicants can proceed to apply for a loan. One requirement that Loan Ranger will ask for apart from the government-issued ID is proof that the applicant indeed has a stable source of income and that can be proved by presenting either a payslip, Bank Statement, or a screenshot of online banking.  

 

With Loan Ranger, applicants will immediately know whether their loan applications are approved within 24 hours. For first-time borrowers, they can borrow from Php3,000 to Php 10,000 and if they have a good credit standing with Loan Ranger, they can apply for a higher loan amount when they reloan. 

 

Loan disbursements are done through the applicant’s bank account so it is always helpful if applicants have already opened a bank account. It does not matter if you have had the account recently or you have had it before. 

 

For loan repayments, applicants need not worry about making late payments because they will have multiple options of repaying the loan amount. Here are the different ways:

 

Through Coins.ph

Can be done for borrowers who have a facility for online banking. Just click the pay with Coins button on the Loan Ranger homepage. 

 

Through Bank Transfers / Deposits

 

Banco de Oro (BDO)

  • Account name: First Digital Finance Corp
  • Account number: 011290007371
  • Branch: Adriatico – Sta. Monica

 

Bank of the Philippine Islands (BPI)

  • Account name: First Digital Finance Corp
  • Account number: 8101 0064 77
  • Branch: MH Del Pilar

 

Security Bank:

  • Account name: First Digital Finance Corp
  • Account number: 0000-001768-090
  • Branch: Adriatico

 

Why Choose Loan Ranger

Filipinos who wish to get a loan that is quick, safe, and flexible will be able to apply for those at Loan Ranger. While many promise to provide all that to most Filipinos, only a very few can deliver. This is what makes Loan Ranger a promising brand that Filipinos can trust. 

 

It Serves the Underbanked

For Filipinos who do not have a credit score or have had credit card bills that they have missed paying a few years before, they can be assured that they can still apply for a loan with Loan Ranger. They do not discriminate and choose only those who have excellent credit ratings – they provide a second chance to the underbanked who are in real need of financial relief. 

 

Those who can apply are not just the employed. Even freelancers and small sari-sari store owners can apply for a loan just as long as they can show that a stable income reflects in their bank statements or statements of account. 

 

It is Truly Simple and Not Complex

There is no need for collateral or multiple documentations. Everybody has a government-issued ID and with proof of income, most borrowers are good to go. With just a few clicks of a button and providing your personal information, you might already be on your way to getting approved of the loan amount requested. 

 

It makes sense for the documentation to be simple – those who need a loan of few thousands should not be burdened and challenged further with a lot of documentations because when the need is urgent, not many will scramble to go back and forth with the requirements and this is why a lot of people would rather borrow money from loan sharks. And that is just unfortunate because that means they will be more in debt. 

 

It is Digital 

The great thing about having to apply for a loan online is the ease and comfort it brings. There is no need for you to travel to apply for a loan and then go back again for follow-up or disbursements. You do not have to sit through the traffic and spend all the time traveling. You can easily apply from the comfort of your home just as long as you have a smartphone or a laptop and an internet connection. 

 

With the rise of digital platforms, Loan Ranger ensures that borrowers can also rely on them in times of challenges. After all, financial challenges come for anyone wherever they are in the Philippines. 

 

How to Sign Up

We have already mentioned that applying for a cash loan with Loan Ranger is very easy. Just visit their website at loanranger.ph and click on the sign-in button located on the upper right-hand side of the screen to begin. 

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loan ranger 1

Click on the signup button which can be seen at the bottom of the sign-in page:

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loan ranger 2

Upon clicking on the sign-up button, you will be redirected to the page where you can choose the loan amount that you need and the installment method that is most convenient to you. The loan amount can be up to Php10,000 for first-time applicants and the repayment can be up to 3 months.  Click on apply now.

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loan ranger 3

You will then be taken to the next page of the application and will be asked to provide your personal details.

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loan ranger 4

Once all details are entered and submitted, the next set of instructions will be sent to your email ID. Make sure that you have already scanned and saved your government-issued ID and proof of income to complete your loan application with ease. Applicants have the option to add more to the required proof of income for a better chance of getting an approval.

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You will be able to hear from the Loan Ranger team on the status of your loan application within 24 hours. When approved, the amount will be credited to your bank.

Frequently asked questions

Are all details needed in the application required to be filled?

Some fields in the application might not apply to the applicant in which case, he or she can skip it. But for the mandatory fields, the applicant will have to provide the information necessary for the Loan Ranger team to properly screen your application. But if applicants can fill in as much information as they can, that would be helpful. 

 

Applicants are advised to only fill in true and correct information because all applications will be verified and false information will mean that the application will be discredited.

Can existing borrowers reloan?

All borrowers are welcome to apply for another loan provided that the existing loan has been paid up. But because Loan Ranger is a means to address a momentary shortfall of cash by the borrowers that can be ideally repaid in their next payday, a long-term financial need may not be addressed by short-term loans. 

 

If another cash requirement comes up shortly, after the initial loan has been repaid, borrowers are very welcome to reapply.

What if a payment has been missed?

Loan Ranger highly suggests for borrowers to consider their capacity to repay loans because missing a payment will not only mean incurring late payment fees but can greatly affect your credit history with Loan Ranger. In the future, if you plan to reapply, it might not be as easy to get an approval as you did on the first try. 

How fast is the decision to approve and when will the loan amount be credited?

For first-time borrowers, the credit decision can take up to one business day from the time of the submission of the application (provided all details are complete). But for those who are reapplying for a loan, the process is shorter since all the details provided have already been verified in the last application. 

 

Once approved, Loan Ranger immediately credits the amount to the borrower’s bank. But how soon the amount reflects in the borrower’s bank will depend on the processing time of their bank and may typically take 1 banking day. 

What if a loan application has been declined? Can borrowers apply again?

Borrowers should take note that Loan Ranger does not decline applications randomly. So when all the information that has been entered and supplied before remains the same, the decision of Loan Ranger to decline the first time will not change. However, should there be changes in the applicant’s status in terms of an increase in income, a new job, paid-off mortgage, then applicants are welcome to apply for another loan. 

 

There is no timeframe as to when applicants can reapply after being declined but one must always remember to make a note of what has changed in income or a decrease in liabilities since the last application.

Can a loan be repaid early?

Early repayment of loans is welcome and even if there are no deductions in the interest of the loan amount, it will reflect well on the credit rating of the borrower which will ensure benefits including a discount on the loan amount that will be borrowed next. 

 

If you have extra cash stashed away, it is always better to use it to settle your liability first. That way, you do not have to worry about repayments when it falls due.

Can unemployed applicants be approved of a cash loan?

Applicants need not be locally employed to be approved of a cash loan. One of the great things about Loan Ranger is that they can provide loans to Filipinos as long as they have a stable source of income whether it is from maintaining their sari-sari store or freelancing. Financial inclusivity should not be limited to those who are gainfully employed. Self-employed Filipinos are very much welcome.

Conclusion

Having short-term financial requirements is a reality that most Filipinos face – whether it be for a medical emergency, payment of tuition fees, additional capital for a business, or traveling. Whatever the reason is, the options that Filipinos have should not be limited to those who are employed or have the means for collateral. Opening the market to those who are small business owners and self-employed is a major help for those who are taking a step towards gaining financial growth and security. 

 

With Loan Ranger’s digital approach to providing finance solutions to Filipinos with minimal requirements and an easy application process, it ensures that short-term needs are addressed with the least amount of time and completed in the most efficient means possible. Now Filipinos do not have to come to loan sharks that will only further their indebtedness. 

Piggyy

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

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