Bene

If you need quick access to funds for household expenses, you can turn to the Bene lending app. This is an app for unsecured loans, requiring only valid identification documents belonging to the Philippines. You can borrow up to ₱31,000 without the need for face-to-face meetings. Disbursement occurs instantly after approval.

Bene specializes in providing smart financial loans on a digital platform. All loan procedures, including disbursement, are conducted through the app, eliminating the need for in-person interactions.

The app is ready to lend from ₱1,100 to ₱31,000 with valid identification documents and a few other conditions. The company does not force customers to sign loan contracts if they are not satisfied. Once your loan application is approved, the customer support team will contact you for further discussion. If you choose not to proceed with the loan, no fees will be incurred. However, if you accept the loan offer, you’ll have to contend with relatively high-interest rates and short repayment periods, which may cause pressure if not managed properly.

Special features of the app include:

• No need for collateral when borrowing
• No requirement for personal income confirmation
• No face-to-face meetings
• Loan procedures and approvals are fully automated
• Same-day loan disbursement
• Option for loan transfer via postal service or your bank account
• Flexible repayment methods

Bene is committed to providing financial support to all Filipino citizens aged 18 and above, with valid identification, a bank account, and a minimum income of ₱300 per month.

Disadvantages

Despite offering many conveniences to customers, this lending app also has several drawbacks:

High-interest rates, significantly higher than those of banks or financial companies. The lending policies and terms are not entirely transparent, leading to customer misunderstandings. Debt collection staff lack respect for customers, especially in cases of late repayments.

So, what specific interest rates does this company apply to its loans?

Interest rates applied by this app for loans

According to information provided by the app itself, the maximum interest rate applied to loans is not more than 24.99% per year. Accurately assessing this interest rate exceeds legal regulations regarding financial support. However, Bene does not force customers to borrow.

In reality, the interest rates applied by the company also have flexible adjustments corresponding to the size of the loan. The repayment period for loans is also not fixed, and borrowers can request extensions. Specifically, if you borrow from ₱1,100 to ₱31,000, the repayment period ranges from 91 days to 182 days.

There is currently no accurate information on how interest rates are applied or the loan repayment period of this company. You can only contact the customer care team for details.

Example of in-app loan:

As an illustration, if you borrow ₱10000 for a period of 90 days, a service fee of 5% will be deducted upon disbursement.

• Thus, the total amount you will receive is ₱9500, calculated as ₱10000 – ₱10000×5%
• For a 90-day loan with an interest rate of 15%:
• Total Interest fee: ₱10000 x 15% : 360 x 90 = ₱375,0
• Total repayment amount: ₱10000 + ₱375,0 = ₱10375,0

Contact Us
Need assistance or have questions? Our dedicated customer service team is here to help!
Email: [email protected]
Phone: 09752301920
Address: U.A. 8TH FLOOR, THE W FIFTH TOWER AVE.BLDG. 5TH AVE. ST. TAGUIG CITY
We’re excited to offer you a convenient, reliable, and secure microcredit service. Download Bene today and experience financial flexibility like never before!