MoneyCat Review

Amount ₱ 1,000-₱ 20, 000
Term 14 – 28 days
Interest rate: 39.9%
Documents required:
  • valid ID
  • phone number
  • bank account to receive money

MoneyCat is a young developing lending company running from 2019. It is a fast service working online in the Philippines in accordance with local lending rules. Accompanied by express registration and equally fast approval it works in the sphere of personal online loaning up to ₱ 20,000.

Benefits of taking a loan in MoneyCat

MoneyCat reviews are extremely positive. According to a lot of researches, it is the most trusted online loan company in the country. So, let’s take a brief overlook of MoneyCat benefits.

  • Safety:
    As it was said earlier, MoneyCat works in accordance with Filipino law. All transactions are held through verified mediators. However, every client should remember that loans are possible to take only on the official website! MoneyCat doesn’t have an application!
  • High-speed service:
    That’s one of the most common advantages of this company. Registration will take about 10 minutes, conformation of personal loan normally provides in half an hour and money is available in 24 hours on the client’s bank account. That’s why this service is the most admired in the Philippines today.
  • Minimalistic:
    The site is extremely simple, anything extra – only necessary information. Also, the loan calculator here, in addition to usual options, shows the first payment day which allows clients to plan their expenses.
  • Helpful:
    Though the company works only from Monday to Friday, your question won’t be left unrequited. Whenever you send an email with your problem description the support team will solve it as soon as possible! More than that, you do not need to stand in queues in order to get a loan. This platform saves a lot of time!

Nevertheless, typically people stay optimistic about MoneyCat loans, some clients admit that interest rate is high, and they are not always sure whether they could handle repayment or not.

Who can get a loan?

Online personal loan is available for:

  • 22-60 years old;
  • Filipino citizen (living in the Philippines at the moment of borrowing);
  • Currently employed or a person with a steady income.

How to apply for a loan

As was said earlier the process of registration is extremely simple and could be held within four steps. Having required documents at hand it would be extremely easy to do, as the registration form is normally filled within 5 minutes.

In order to get a loan online follow subsequent steps:

  1. Go on and use the loan calculator to set loan amount you need (remember that newcomers can have up to ₱ 3,800 for the first loan). Below scales, there is full information about the upcoming lending: loan amount, first payment day and total loan amount (including the interest rate).
  2. Right from the loan calculator, there is a registration form that should be filled up carefully.
  3. As it is promised on the official site, advisor would call in 15-30 minutes. After discussing terms and conditions of the loan, it will be approved.
  4. Money will be on the client’s account in 24 hours.

Take to consideration that the agreement is signed via SMS online.

In order not to fall into the hands of attackers, remember that MoneyCat Philippines works exclusively online, and not through email or phone calls. However, other online loan companies do not neglect such a way to make transactions, MoneyCat always cares about its clients.

How to repay a loan

First of all, it is worth to mention that in case of early repayment of the loan amount (not later than 10 days after receiving money) the interest rate is not paid. In the opposite case when the client is not able to pay money on the first payment date, it is possible to extend the loan period. However, it is not possible to do this option online. And clients need to contact the MoneyCat financing team.

The main document for loan repayment is the DragonPay Lifetime ID. This code is given during the procedure of loaning.  It is possible to pay for a loan at MoneyCat in three ways.

Payment in 7-Eleven:

  1. Visit the nearest 7-Eleven store with the “Cliqq Machine”.
  2. Choose “Bills Payments” – “More Billiers”.
  3. In “Loans” tab choose “Dragon Loans” and fill in the form using Lifetime ID, personal number and the amount of money you need to pay.
  4. After confirmation click “Next” and take a voucher.
  5. Give it to a cashier to complete the payment. 6. Do not forget to take a receipt. It is an evidence of loan repayment.

ECPay, SM Payment Counters, LBC, Robinsons Department Store or Bayad Center:

  1. Take the form in the payment centers and imply your Lifetime ID.
  2. Give this form to a cashier. He will complete the payment.
  3. Do not forget to take a receipt. It is an evidence of loan repayment.

Bank Cash Payment, Online payment or GCash:

  1. Go to a personal account using OTP Code which will be in an SMS.
  2. Choose one payment mode among the offered (partial payment – any amount; prolongation – renew amount; full repayment – amount for today).
  3. Select the channel of payment (e-wallet, online banking, ATM banking, etc).
  4. A verification email will be sent in several minutes.

Keep in mind that the interest rate increases if the payments weren’t done before the weekend! That is why do not put aside the payment if its date doesn’t correspond to the working days.

Notice, that even though this personal loan company woks online, the support team is available only during all working days from 8.30 am to 6 pm. Support telephone numbers and a contact email where customers can send their requests are at the bottom of the homepage.