How it works
- Are you over 18 years of age?
- Do you have a stable source of income?
If you answered “yes” to both of these questions, you are eligible and ready to start your online cash loan application. And you’ll be very happy to know that you can complete the entire process online.
- Create your Loan Request
Determine how much you want to borrow (up to PHP 10,000 for first time borrowers) and how many days you will need it for (up to 30 days) by adjusting the website sliders. The full cost will be computed and shown. Once you are happy with the terms, click apply to proceed
- Fill out your Application
Apply online by filling up our simple application form. They will ask you for some personal information and about your current income. They will also ask you to upload some documents for identification and verification purposes
- Get instant Decision
They will let you know within 24 hours if you have been approved for the loan you are requesting. Once approved, the money will be transferred directly into your account.
There is a limit to the amount a first time borrower can apply for. If you choose to borrow again from loanranger.ph in the future, provided that you use the service responsibly, they will increase the standard limit and make the loan more flexible to your needs.
- One valid government ID (scan copy or photo)
- A Facebook account
- A stable source of income (store owners and home based workers/ freelancers are welcome to apply)
Customers are required to upload one of the following proofs of income for the last 3 months:
- Pay slip
- Bank statement/ SOA
- Screenshots of online banking
You are welcome to upload more than one type of proof of income to increase the chance of your loan approval.
Important things you need to know about Loan Rangers
- For new customers, you can borrow from P3, 000 up to P10, 000. Returning customers who have good records of repaying on time can be considered for an increase in loan amount.
- As long as you have a stable source of income, they do approve customers who are sari sari store owners or freelancers. If you cannot submit Pay slips, they also accept bank statements or screenshots of online banking transactions.
- With their entire application process conveniently available online, they need to make sure that they understand their customers as thoroughly as they can. As you tell them more about yourself, they are able to translate that information to arrive at an accurate and objective credit decision.
- Not all fields in their application form are mandatory. You can choose to skip some optional questions and still proceed with your loan application. However, they strongly encourage you to fill in as many fields as you can. This will help them know you better as a customer, and thus, make them more confident in lending to you. That is, the more fields are filled in, the higher your chance of getting your loan approved.
- Currently, they only allow customers to have one outstanding loan at a time. Once you have paid off your existing loan with them, you are more than welcome to apply again. However, please note that their personal loans are intended to help you through a momentary cash shortfall, ideally resolved by your next payday. They strongly advise against relying on multiple short-term loans for long term borrowing.
- A good credit history is always a plus; however, they will not turn you away if you do not have an existing credit record, or if you paid your credit card bill late a few years ago.
- They understand that not everyone has easy access to credit, and that is exactly why they launched their product – to serve the underbanked in the Philippines. Instead, they base their decisions on the information you provide them in your application.
- You are welcome to reapply if there is updated information on your employment and financial situation. For example, they would love to know if you have changed your job, got a raise, or repaid your mortgage. Or if there were optional fields that you previously skipped and would like to answer in your succeeding application, this sort of information can definitely help increase your chance of being approved. However, if there is no change in your application at all, you should not reapply because you will get the same decision.
- If you are a new customer, you should get your credit decision within one banking day upon submission of application. For returning customers, you can get your credit decision faster since most of your information has already been verified.
- Once approved, they will credit your account immediately and send you an email notification. However, how fast the money appears in your account really depends on your bank’s process. While some of them (Security Bank, etc.) can credit your account real time, others (BPI, BDO, etc.) might take up to one banking day to process the transaction.
- You can get your money credited directly to your bank account. You will be asked to indicate your bank account number in your loan application.
How to Repay
If you have online banking, the easiest way is to transfer online to coins.ph wallet, then click Pay with coins button in their homepage.
Else, you can also deposit into/ make a transfer to our accounts at BPI, BDO or Security Bank with the details below:
Account name: First Digital Finance Corporation Account number: 011290007371
Branch: Adriatico – Sta. Monica
Account name: First Digital Finance Corporation
Account number: 8101 0064 77
Branch: MH Del Pilar
Account name: First Digital Finance Corporation
Account number: 0000-001768-090
Once you have made the payment, kindly send them your proof of payment/ deposit slip so that they can confirm.
- You can repay your loan early. Although there will be no deductions on your current payment, there will be numerous benefits such as a good credit rating and discounts for future loans among others.
- They only encourage you to take loans from them if you have carefully considered your capacity to repay. Failure to repay will incur late payment fee and affect your credit history, which can lower your chance of borrowing in the future.
- If you are having unexpected financial difficulties that prevent you from paying on time, please contact them immediately. They will try to work out a solution that works for both of you; however, this is not guaranteed and subject to review on case by case basis.