Company Information
MoneyCat operates in the Philippines under the name of MoneyCat Financing Inc. and has its main office located at Unit 1701 Tycoon Bldg Pearl Drive St. Brgy San Antonio Ortigas Center Pasig City. Their Certificate of Authority to Operate number is 1254 granted by the Securities and Exchange Commission.
All loan applications under MoneyCat can be done online and submitted 24/7. However, for customers who wish to contact their customer support available for Smart/TNT/Sun Subscribers (0919 084 2138 or 0919 084 2139) and Globe/TM Subscribers (0917 710 8022 or 0917 209 2204), they are available from 9:00 AM to 6:00 PM, Monday to Friday. They can also be reached through Facebook or send an email at [email protected].
Types of Loans Offered
MoneyCat offers quick cash loans to eligible Filipinos who are in need of urgent cash requirements. A borrower may need it for their everyday grocery needs, travel, tuition fee payments, or other personal reasons. For whatever reason, MoneyCat’s immediate release loan is an excellent solution for every Filipino in need.
A typical loan term can be from 3 – 6 months, and borrowers only need to pay a low-interest rate per month which starts at 11.9%.
Eligibility Criteria
To become eligible to apply for a loan with MoneyCat, there are only two basic criteria that need to be met:
- Applicants must at least be 22 years of age, but not more than 70 years old.
- Applicants must be Filipino citizens and currently residing in the Philippines.
- Applicant must be currently employed or belongs to the selected group of professionals.
- The applicant has a valid bank or e-wallet account.
Requirements
- Valid government-issued ID.
- Personal Bank Account details.
- Other documentation that MoneyCat PH may require.
Requirements and Services Offered
If you’re eyeing MoneyCat Philippines as your next instant loan provider, here’s a quick summary of everything you need to know and prepare for your application:
Loan Overview
Product | MoneyCat Philippines Instant Loan |
Minimum Available Loan | Php 500 |
Maximum Available Loan | Php 20,000 |
Interest Rate | 11.9% per month Note: For your first application, the advertised rate is 0% if you pay within 10 days. |
Maximum Annual Percentage Rate (APR) | 145% |
Loan Payment Duration | 3 to 6 months, with the possibility of extension (charged) Note: For your first approved loan application, you have 10 days to pay to enjoy a 0% interest rate. |
Possibility of Early Payment | Yes |
Eligibility and Requirements
Eligibility Criteria for Borrowers |
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Preliminary Information | Before answering the application form, you will be asked regarding the following information:
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Required Information and Documents for the Application Form |
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Loan Application Process
Application Channel | Through the moneycat.ph website, or through the Moneycat.ph app |
List of Eligible Banks for Payout | The following banks can be used to receive the loan from MoneyCat PH: Banco De Oro (BDO) Bank of the Philippine Islands (BPI) BPI Family Savings Chinabank Chinabank Savings Chinatrust Bank Development Bank of the Philippines (DBP) EastWest Bank Land Bank of the Philippines Maybank MetroBank PBCom Philippine National Bank (PNB) Philippine Veterans Bank PSBank Rizal Commercial Banking Corporation (RCBC) RCBC myWallet Robinson Bank Security Bank Sterling Bank of Asia United Coconut Planters Bank (UCPB) UnionBank of the Philippines |
Loan Application Processing Time | Upon finishing the application form, expect a call regarding loan approval within 30 minutes |
Waiting Time for Loan to be Posted on Account | The loan can be posted as fast as 30 minutes after approval. Depending on the bank, a maximum of 1 to 2 banking days may be required for the transfer to be credited. |
Loan Repayment Channels | To repay the loan, there are different payment channels you can tap: GCash and other e-wallet options Online Banking (via Dragon Pay) ATM Banking Over-the-Counter Payment Centers Cebuana Lhuillier Western Union Palawan Pawnshop Villarica Pawnshop LandBank Philtrust Robinson’s Malls Robinson’s Bank LBC PBCom Equicom Bank Maybank Bayad Center SM Payment Center |
Fees, Charges, and Penalties
Loan Extension Fee | 7% of the current loan amount plus other charges |
Late Payment Fee | Additional interest rate Note: If payment falls on a weekend, better pay earlier to avoid being tagged as late payment. |
Why Choose MoneyCat
MoneyCat is a financial solution that Filipinos probably never thought that they needed. Until now, people were so used to approaching 5-6 lenders or loan sharks for their emergency needs it is difficult to break this practice. Having financial institutions available online definitely helps more Filipinos make better financial decisions.
Here are the reasons why Filipinos should choose MoneyCat:
Simple and Easy
The requirements are very simple. Customers need only prepare their personal information – scan their government-issued ID and their bank details. Once they have all their documents ready and scanned, they can quickly proceed with their loan application online, which will only take 5 minutes, considering their computer and internet connection processing speed.
Convenient
When customers do not have to travel, wait in line or wait for offices to open and can submit their applications any time of the day – that is what convenience means. When everything is done online, more and more Filipinos can be catered to.
Fast
Not every financial institution has the means to process and approve loan applications within 24 hours. The process can take a lot of time – several days even with traditional banks. Having a loan approved immediately is an excellent help for someone who has an emergency need.
Safe and Credible
MoneyCat is registered under the Securities and Exchange Commission, making it a legal financial institution for Filipinos residing in the Philippines and within the Philippine Laws. While all information is provided online and uploaded online, customers can rest assured that their data is safe and secure. The customer’s data privacy is also discussed in detail in the terms and conditions of the loan.
Is Applying for a Loan with MoneyCat PH Worth It?
MoneyCat PH’s selling point relies on three things: its simplicity, convenience, and processing speed.
As you can see, the company doesn’t offer loans as high as bank providers usually do—with banks, you can get personal loans that reach millions of pesos, so long as you can pay. Bank loan processing can also be tedious and time-consuming, with multiple documents required.
On the contrary, MoneyCat PH prides itself on how quickly they can approve your loan and send it over to you—depending on your bank provider, you can get the loan within 1 hour after sending your application form!
Of course, with this convenience comes a higher interest rate. However, when you consider that the loan isn’t that high, the interest rates – especially when payable over the course of months – don’t seem as daunting anymore, either.
So who is this loan good for?
MoneyCat PH’s loans are perfect for people who need to pay something urgently but don’t have the means to pay yet. For example, if you need to pay your rent as soon as possible, but can’t wait until your salary two weeks from now, you can avail of this loan to cover your expenses, then pay it off once you receive your salary.
This is also a great choice if you’re expecting some money in a short period—for instance, you’re expecting to sell an item in a few days—but need cash as soon as possible.
All that said, this product will probably help people who don’t have anyone to loan from, and don’t have extra cash on hand at the moment. If you’re just starting with your job after relocating from the province, and you’re expecting your first pay after a month, perhaps you can try this out, too!
No matter what your need is, so long as it’s urgent, and you’ll be able to pay it off in the future, you should certainly try out MoneyCat PH.
How to Sign Up
Since MoneyCat is available online for all Filipinos, loan applications can be done online as long as the borrower has a computer or a laptop or even a smartphone and a working internet connection. The application process is easy and simple. Here are a few of the steps you need to follow:
Visit MoneyCat’s website. On the home screen, you will be able to immediately see the loan calculator and the Get Cash Today button.
Move the bar to set it at the desired loan amount that you wish to apply for. The maximum loan amount that you can apply for is Php20,000.
Enter your name, mobile number, and email. After that, click the Get Cash Today button to commence the loan application process.
Enter your personal details and address to proceed to the next step.
You will need to enter your employment details such as monthly income and your work phone number for the verification process. Also, provide a relative’s name and contact number and your emergency contact person.
The final information that you will have to provide is your bank account details to complete your application. Double-check this section because once approved and you sign the loan agreement, this is where the loan amount is going to be released.
Upload your scanned government ID and a selfie of you holding your government ID.
Confirm the phone number you have registered with MoneyCat. Bear in mind that the applicant should be the owner of the phone number provided. Otherwise, MoneyCat reserves the right to refuse the loan application.
Accept the terms and conditions of the loan application and click on submit. First-time borrowers are eligible for the interest-free loan and can return the loaned amount after 10 days.
Frequently asked questions
How do I know if my application is approved?
When can I receive my money? How long does it take?
What will I do if I have not received my money yet?
What can I do if I provided the wrong bank account number?
What are the bank account requirements for loan disbursement?
How do I repay my loan?
Can I settle my loan early?
What would I do if my loan application was declined or rejected?
Conclusion
MoneyCat is a reliable and effective choice for Filipinos who are looking to borrow quick cash loans that are both convenient and easy to apply for. Having the means to access a variety of loan options online, and one that is more advantageous to borrowers can help them elevate their financial status while working on their more urgent and immediate cash requirement.
Technology is constantly evolving and more and more people are leaning on technology for most of their needs. Having a financial institution that is able to cater to this demand is a good thing and one that helps a lot of Filipinos become financially included.