CashBar

CashBar is a reliable online lending application that allows users to quickly and conveniently go through loan procedures via their mobile phones or tablets. When using this app, you don’t need to visit the lender’s office, as you can borrow money anytime, anywhere, ensuring convenience and flexibility for users.

CashBar targets customers in the Philippines who need to borrow from PHP 2000 to 20,010 quickly and conveniently through the Android mobile app. These customers typically have moderate incomes and need to use borrowed money to cover unexpected expenses or invest in small projects. With features such as quick loans, simplicity, and minimal paperwork requirements, this app is becoming a popular choice for many.

Interest rates for borrowing:

The interest rate for borrowing depends on your loan amount, loan term, and other conditions. However, according to information on the CashBar app, their interest rates range from 1.8% to 4.5% per month.

These interest rates are determined based on the customer’s creditworthiness, place of residence, age, and other information. Customers can find out their exact interest rate after applying and being approved for a loan through the app.

Steps to borrow money through the app:

1/Download and install the app on your phone from our app store. The installation file will be a .apk file.

2/Open the app and register for an account by providing complete personal information and verifying your phone number.

3/Choose the loan package that suits your needs from PHP 2000 to PHP 20,010 and fill out the loan application form.

4/Wait for your profile to be reviewed and approved.

5/Repay the loan on time. When the loan term expires, you need to repay the full amount borrowed plus interest according to the agreed terms and conditions.

Cash Bar offers online lending support for bad credit.

CashBar provides online loan services and accepts customers with bad credit to borrow; however, approval depends on the customer’s creditworthiness. If you have bad credit, applying for an online loan may be more challenging as most credit institutions require good credit scores. However, the app utilizes modern credit assessment technologies and can evaluate its customers based on various information, including loan history, income, address, and other personal details to determine their repayment ability. If customers have a good credit history, stable income, and provide sufficient necessary information, their chances of loan approval will be higher.

However, if customers do not meet these requirements, their loan eligibility may be denied, or they may face higher interest rates.

Advantages:

No need to visit physical locations to apply for a loan; customers only need to download the CashBar app on their phones and complete the online registration and loan application process. This saves time and effort for users.

With this app, customers can easily and conveniently go through the registration and loan application process. The procedures are straightforward, with clear information, no collateral required, and no asset valuation.

Disadvantages:

Using online loan apps may pose risks to information security, such as personal information being hacked or fraudulently used through scam methods.

Some loan packages from CashBar may have higher interest rates compared to other loan options like bank loans or credit cards.

Using the CashBar app for borrowing requires customers to have knowledge and experience in technology to easily use the app, which may pose difficulties for those not tech-savvy.

Examples of loans:

If you select a loan cap of PHP 8,000 for a duration of 150 days (equivalent to 5 months), the daily interest rate stands at 0.05%. Alongside, there exists a transaction fee of PHP 25, while no service fee or additional charges apply. Here’s a detailed breakdown of the payment obligations by the due date:

• Service fee: PHP 8,000 x 0% = PHP 0
• Net amount received: PHP 8,000 – PHP 25 = PHP 7,975
• Total interest charges: PHP 8,000 x 0.05% x 150 = PHP 600
• Monthly interest due: PHP 8,000 x 0.05% x 30 = PHP 120
• Total repayment sum at due date (Loan Amount + Total interest fee): PHP 8,000 + PHP 600 = PHP 8,600
• Monthly repayment amount, encompassing principal and interest: PHP 8,600 : 5 = PHP 1,720

Contact:

Working time: 9:10 am – 18:10 pm (Monday – Sunday)
Mail: [email protected]
Adress: 3nd Floor Building C, Metrowalk Commercial Complex, Meralco Avenue Brgy. Ugong, Pasig City, Metro Manila, Philippines