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A Comprehensive Guide to Cashalo Loans in the Philippines

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In the ever-evolving financial landscape of the Philippines, Cashalo stands as a beacon of accessibility, offering a dynamic micro-lending platform that caters to the diverse needs of its users through innovative mobile technology.

The Cashalo Loan Process: 

Initiating your financial journey with Cashalo  involves a seamless process tailored for user convenience.

The first step is downloading the user-friendly Cashalo app, available on both Google Play for Android users and the App Store for iOS enthusiasts. 

This app serves as the gateway to a world of financial solutions, setting the stage for a convenient and efficient loan application process.

Upon app installation, users are prompted to create a secure profile by signing in with their phone number. 

This not only personalizes their experience but also ensures the security and reliability of their loan application. 

This user-centric approach is a testament to Cashalo’s commitment to providing a seamless experience for those seeking financial support.

With the profile creation completed, users can proceed to fill out the loan application. This step allows them to specify the desired loan amount and select suitable payment terms based on their financial preferences.

 Cashalo understands the importance of flexibility in loan terms, acknowledging the diverse Financial Service needs of its user base.

After the diligent completion of the application, users enter the phase of awaiting application processing.

 The Cashalo team, known for its efficiency, diligently processes each request.

 The decision-making timeframe is notably swift, with approvals often granted within a matter of hours, showcasing Cashalo’s commitment to providing timely financial assistance.

Upon approval, the borrowed amount seamlessly finds its way into the user’s bank account, ready to address their financial needs. 

This straightforward and prompt fund transfer is a hallmark of Cashalo’s commitment to delivering financial solutions with maximum efficiency.

Repayment: Flexible Options for Financial Ease

Repaying a Cashalo loan is designed to be as straightforward as the application process. Cashalo offers multiple options to ensure convenience for its users:

1. Cashalo Partner Services:

Cashalo has strategically partnered with various service providers, including 7-Eleven, Robinsons, and BDO branches. This extensive network allows users to make repayments conveniently, leveraging locations that are likely to be within reach for many Filipinos.

2. Mobile App Transactions: 

For tech-savvy users, Cashalo facilitates direct debt payments through the mobile application. Services like “Robinsons Online Banking” or “Dragonpay” can be utilized for this purpose. However, users need to be mindful of potential transfer fees associated with these transactions.

Unveiling Cashalo: 

Understanding Cashalo goes beyond the mere provision of loans; it involves unraveling its roots and understanding its evolution in the financial landscape.

Cashalo, derived from the fusion of “Cash” and “Kasalo” (finance partner), operates under the registered entity Paloo Financing, Inc.

 This recognition establishes Cashalo as a legitimate and regulated player in the financial domain. 

As a digital lending platform, Cashalo made its debut with the introduction of its mobile app on October 23, 2018, revolutionizing the accessibility of quick loans for Filipinos.

In January 2019, Cashalo expanded its services with the introduction of Cashacart, a financing solution catering to customers without a bank card. This “offline-to-online” consumer basket financing option allows users to secure digital loans ranging from PHP 2,000 to PHP 19,999, providing an ideal avenue for making purchases from Cashalo partners.

Cashalo’s Diverse Offerings and Rates: 

Understanding the diverse financial needs of its user base, Cashalo offers a range of loan products with varying terms and conditions:

1. First Cash Loan

  • Maximum Amount: PHP 1,500
  • Interest Rate: 10% per month
  • Loan Term: Up to 45 days

2. Subsequent Cash Loans

  • Amount: PHP 2,000 to PHP 10,000

3. Lazada Loans

  • Maximum Amount: Up to PHP 4,500
  • Processing Fee: 5%
  • Loan Term: Up to 90 days

4. Robinsons Department Store Offer

  • Installment Plan: Up to 3 months at 0% APR

Cashalo’s offerings extend beyond the conventional, addressing specific needs and preferences within its diverse user base. 

This flexibility sets Cashalo apart as a financial platform that understands and caters to the unique financial circumstances of its users.

Cashalo Requirements:

Cashalo maintains minimal requirements for borrowers, recognizing the importance of inclusivity. These requirements include:

  1. Identification: A government-issued ID for identity verification.
  2. Residence Confirmation: Utility billing statements to confirm the borrower’s place of residence.
  3. Proof of Income: Providing information about work and the latest payslip.
  4. Bank Details: Necessary for fund transfer if opting for bank card transactions.

This streamlined approach to requirements ensures that a wider audience can access Cashalo’s financial solutions without unnecessary hurdles.

How to Calculate and Apply for a Cashalo Loan

For users seeking clarity on the financial implications of their loans, Cashalo offers a straightforward calculation process:

Enter the Loan Amount:

Specify the Loan Term in Months:

Input the Interest Rate per Month:

This user-friendly approach empowers borrowers with transparency and enables them to make informed decisions about their financial commitments. To apply for any Cashalo loan product, users can utilize the user-friendly Cashalo mobile app.

Cashalo’s Product Features: Empowering Users Financially

Understanding the features of Cashalo’s products enhances users’ ability to make informed decisions. Key features include:

  • Minimum Financing Amount: PHP 500
  • Maximum Financing Amount: Up to PHP 15,000
  • Minimum Loan Term: 1 day
  • Maximum Loan Term: 240 days
  • Interest Rate per Day: 0.1% – 0.8%
  • Approval Duration: Up to 24 hours
  • Debt Consolidation: Yes

These features reflect Cashalo’s commitment to providing a versatile and empowering financial platform for its users.

Cashalo’s innovative approach to micro-lending has positioned it as a key player in the Philippine financial landscape.

 Beyond its seamless loan application process, Cashalo offers diverse products and features to address the financial needs of a wide audience. Whether it’s the swift processing of loans, flexible repayment options, or the inclusivity of its requirements, Cashalo remains dedicated to providing financial ease to the Filipino community. 

Experience the power of financial convenience with Cashalo’s efficient and accessible solutions tailored to diverse needs.

Exploring Cashalo’s Product Features

Minimum and Maximum Financing Amounts:
Cashalo understands that financial needs vary, which is why it caters to a wide spectrum. 

The minimum financing amount starts at PHP 500, allowing users to access smaller amounts for immediate needs. 

For those with larger requirements, Cashalo provides loans of up to PHP 15,000, ensuring flexibility in meeting different financial goals.

Loan Term Flexibility:
The platform recognizes that borrowers have different preferences when it comes to loan terms.

 Cashalo’s loan terms range from a minimum of 1 day to a maximum of 240 days, allowing borrowers to choose a duration that aligns with their financial capabilities and preferences.

 Whether it’s a short-term financial boost or a more extended repayment plan, Cashalo has options to suit diverse needs.

Competitive Interest Rates:
Understanding the importance of affordability, Cashalo offers competitive interest rates. 

The daily interest rates range from 0.1% to 0.8%, ensuring that borrowers have access to financing without being burdened by exorbitant charges.

 This commitment to reasonable rates contributes to the platform’s appeal among Filipinos seeking accessible and fair lending options.

Swift Approval Duration:
Cashalo recognizes the urgency often associated with financial needs. To address this, the platform strives for efficiency in its approval process. In many cases, borrowers receive approval within 24 hours of application submission, allowing them to swiftly access the funds they require.

Debt Consolidation Options:
In a bid to provide comprehensive financial solutions, Cashalo offers debt consolidation services. 

This feature enables borrowers to streamline multiple debts into a single, manageable loan, simplifying the repayment process.

 Debt consolidation can be a strategic move for those looking to organize their finances and reduce the complexity of managing multiple loan obligations.

Understanding Cashalo’s Commitment to Financial Inclusion

Cashalo’s commitment to financial inclusion is evident in its diverse range of offerings. 

The platform recognizes the unique financial circumstances of its users and strives to bridge gaps in traditional banking services.

 Through the introduction of Cashacart, Cashalo further extends its reach, offering financing solutions to individuals without a bank card.

Cashacart: Bridging the Gap for Non-Cardholders
Cashacart, introduced in January 2019, serves as a significant milestone for Cashalo. 

This financing solution specifically targets individuals without a bank card, providing them with opportunities to access digital loans ranging from PHP 2,000 to PHP 19,999. 

The “offline-to-online” approach empowers users to make purchases from Cashalo partners, contributing to a more inclusive financial landscape.

Navigating the Cashalo App for a Seamless Experience

Cashalo’s user-friendly mobile app serves as the gateway to its diverse financial products. Navigating the app is designed to be intuitive, ensuring a seamless experience for users throughout their financial journey. From the initial profile creation to loan application and repayment, the app simplifies each step, making it accessible even for those new to digital lending platforms.

In Conclusion

Cashalo, with its commitment to innovation and financial inclusion, stands out as a dynamic force in the Philippines’ lending landscape. 

Through a user-friendly app, diverse loan products, and features like debt consolidation, Cashalo  addresses the unique financial needs of Filipinos, making the journey to financial stability more accessible and convenient. 

Whether it’s a quick loan for immediate needs or a strategic debt consolidation plan, Cashalo serves as a reliable partner in the pursuit of financial well-being.

Author Maria Torres from Upfinance.

You can get a loan here: https://upfinance.com/loan-type/loan-online/