MicroLoan VIP is one of the online cash loan apps that doesn’t require assessments of the borrower’s relatives or friends. Here, there are various loan limits for you to choose from. You can borrow from ₱1,000 to ₱30,000, with disbursement just 5 minutes after profile approval. This is something not all loan apps offer.
Exploring MicroLoan App
MicroLoan is an app that connects individuals in need of online loans with lending partners through technology. The app helps borrowers find loans that suit their current financial needs based on personal information and previously registered amounts.
The loans will be directly transferred to the borrower’s bank account just 5 minutes after profile approval. Overall, the process of online cash borrowing at MicroLoan VIP is relatively simple, with a fairly quick profile assessment. Everything is done online via phone, tablet, or laptop, making it very convenient.
Eligibility for Unsecured Loans at MicroLoan VIP
To save customers time, if you wish to apply for a loan profile here, you need to meet the following criteria:
- Be a Filipino citizen
- Be aged 19 and above
- Have full legal capacity
- Identification verification or equivalent documents
- Have at least 1 domestic bank account (in your name)
- Have a regularly used phone number in your name
- Have stable income to ensure repayment capability
Information on available loans at MicroLoan VIP
This online cash lending app offers a variety of borrowing limits, repayment periods, and flexible payment methods. Specifically:
- Loan limits: Minimum from ₱1,000 to ₱30,000 Loan interest rate: Only 30% per year
- Special offers: 0% – 15% per year interest rates for first-time loans
- Loan repayment period: From 5 days to 180 days
- Disbursement time: From 5 minutes to 15 minutes. After your loan application is approved, a message will be sent to your phone notifying the successful approval along with loan contract details (loan amount, interest rate, fees, late payment penalties, etc.)
- Payment methods: Online bank transfer, through various e-wallets
Registration guide at MicroLoan
With just 5 simple steps below, you can borrow cash up to ₱30,000 here:
Step 1: Access the app download at the loanapp.store website.
Step 2: After accessing the website, select the loan amount and repayment period. Proceed with “Apply for a loan” to complete the loan application.
Step 3: The interface will display a form to create the loan application. Fill in the required personal information on the form to complete the loan application. Provide your phone number, front/back of identification documents, and a selfie.
Note: Provide the correct phone number as the system will send an OTP code to verify your phone number.
Step 4: You need to carefully read the terms and conditions of borrowing money on MicroLoan VIP’s loan contract. Once understood, confirm that the application is submitted for evaluation.
Step 5: After the evaluation period, if the application is approved, the loan contract will be sent to you. By agreeing to the loan, the money will be transferred to your bank account immediately. If your loan application is rejected, the system will send you a notification.
Note: After borrowing, it’s advisable to repay the principal and interest on time. This way, if you apply for another loan, the borrowing limit will be higher, and the application processing time will be shorter.
Should you borrow cash from the MicroLoan VIP app?
Reasons why you should consider borrowing here:
Simple loan procedures, 24/7 application approval: Your loan application is always received by the system at any time of the day. Even during nights or holidays, there are staff available to assist you. High success rate in approving applications: Up to 91.2% approval rate as long as you meet the specified borrowing conditions. Super-fast disbursal time: Most available loan limits here are disbursed rapidly by the system, typically within 5 to 15 minutes. The maximum time to receive the loan is 2 hours. If it takes longer, contact the customer support hotline for assistance. Flexible repayment of principal and interest: As mentioned earlier, the system offers various payment methods for you to choose from. Absolute security of personal information with SSL security certificates. Customers can feel completely secure when providing personal information. With these advantages, you can consider borrowing cash from MicroLoan VIP if you’re facing financial constraints. However, despite this app having business licenses, tax identification numbers, etc., caution is advised. If borrowing, ensure timely repayment to avoid debt collection or hassles.