Online loans made accessible and convenient for Filipinos

Published April 27, 2021, 9:58 AM

by MB Technews

Online loans made accessible and convenient for Filipinos

In times of uncertainties and emergencies, it’s always ideal to have financial sources to address immediate needs. Unfortunately for some, instant cash isn’t always available, with every single peso of their finances already allocated to specific expenses and for day-to-day needs.

With the advent of technology comes easier means for the public to access lending services. Online loans are very similar to the traditional method of borrowing money from lenders but with an added layer of timeliness and convenience.

In the Philippines, among the companies that fall under this category is lending app Online Loans Pilipinas (OLP). Paulo Roco, the president of Online Loans Pilipinas, shared that what they bank on is providing Filipinos financial aid right when they need it.

“While a lot of companies struggled during this pandemic, Online Loans Pilipinas, however, we’re very sincere with helping customers, especially during the hard times. Aside from the policy that was regulated by the government, we also offered them our own company’s adjusted payment options, loan extensions, and prolongations to help the customers,” Roco said.

“We believe that every person in the Philippines should have an option for financial assistance. And since today is 2021, this shall be 100% online, paperless, and as fast as 5 minutes, and even less,” he added.

Roco shared that OLP offers immediate financial help in as fast as five minutes and one valid ID required. “You can receive the money within a few seconds via Instapay straight to your bank account or GCash account,” the executive noted.

First-time borrowers can avail of 0% interest. For example, they were approved for a P3,000 loan, they will return exactly P3,000 within seven days.

Payments can easily be done through accessible online channels including mobile banking, over-the-counter, Bayad Centers, and e-wallets.

OLP also offers zero interest rates for first-time customers while repeating customers are to pay with low-interest rates. Roco also shared that among the efforts they do at OLP to bring a convenient lending process for their customers is through ease of loan applications, lessening the need of filling out forms all over again, and going through tedious loan approvals.

“When it comes to convenience, fast and easy application, the interest is reasonable as we designed our service as quick payday loan 24/7,” Roco added. “Whether you have no credit history or poor credit history, you can still apply for your first loan. OLP is a fast and convenient way to build your good credit history for your future,” he furthered.

In the instance that customers fail to settle their due payments on time, Roco noted that OLP has a prolongation period where customers are asked to settle only 30 percent of the principal amount borrowed sans the interest.

“Once settled, they will have additional 30 days to prolong their due date with the same interest rate,” he said. Roco shared that OLP also has a three-day grace period without late payment fee.

The OLP app is available for free download from the Google Play Store and soon on the Apple App Store. The office of Online Loan Pilipinas is located at Tycoon Centre, Unit 1402-06, 14th Floor, Pearl Drive, San Antonio, Pasig, Metro Manila.  Learn more about its lending terms and services through its official website.