MFI Information Guide

About Cashalo

Cashalo is one of the leading digital lending platforms in the Philippines, dedicated to providing fast, accessible, and affordable microloans to Filipinos nationwide. Launched to promote financial inclusion, Cashalo leverages technology to reach underserved communities and individuals who may lack access to traditional bank loans.

With millions of active users, Cashalo offers a seamless mobile app experience, enabling borrowers to apply, get approved, and receive funds quickly — all from their smartphones.

Key Features and Benefits

Loan Amount and Terms

• Loan amounts ranging from ₱1,000 up to ₱30,000, designed to cover urgent personal and household expenses.

• Flexible repayment terms between 91 days and 180 days, allowing manageable monthly payments.

Interest Rates and Fees

• Competitive monthly interest rates based on risk profile and loan amount.

• Transparent fees disclosed upfront to borrowers.

• No hidden charges or prepayment penalties.

Eligibility and Requirements

• Filipino citizen aged 21 to 60 years.

• Valid government-issued ID (Passport, Driver’s License, UMID).

• Proof of income such as payslips, bank statements, or business permits.

• Active mobile phone number and email address.

• Must have a verified Cashalo account and completed KYC process.

How to Apply for a Loan on Cashalo

1. Download the Cashalo app from Google Play Store or Apple App Store.

2. Register and verify your account by submitting required IDs and documents.

3. Fill out the loan application form and select loan amount and term.

4. Submit the application and wait for instant credit evaluation.

5. Upon approval, receive loan proceeds via GCash wallet, bank transfer, or over-the-counter partners.

6. Make repayments through multiple channels including app payments, partner outlets, or online banking.

Advantages of Cashalo

• Quick and easy application process with instant approvals.

• Wide accessibility for unbanked and underserved Filipinos.

• Flexible loan amounts and repayment schedules.

• Strong security measures and data privacy compliance.

• Educational resources and customer support available.

Potential Limitations

• Loan amounts capped at ₱30,000, which may not suit large expenses.

• Interest rates can be higher than traditional banks due to unsecured nature.

• Repayment penalties apply if payments are late.

Tips for Responsible Borrowing

• Borrow only the amount you need and can repay on time.

• Keep track of repayment schedules and set reminders.

• Read loan terms carefully before accepting offers.

• Contact Cashalo customer support promptly if you encounter repayment issues.

Frequently Asked Questions (FAQ)

Q: How fast can I get a loan approved?
A: Loan approval can be instant or take a few minutes depending on verification.

Q: Can I apply if I am self-employed?
A: Yes, provided you can submit acceptable proof of income.

Q: Are there any penalties for early repayment?
A: No, Cashalo allows early repayment without penalties.

Q: How do I repay my loan?
A: Repayment can be made via app, partner outlets, or online banking.

Q: Is Cashalo regulated by the BSP?
A: Yes, Cashalo is licensed and regulated by the Bangko Sentral ng Pilipinas.

Conclusion

Cashalo has established itself as a top microfinance lender in the Philippines, combining technology with a mission to extend credit to the underserved. Its user-friendly app, quick loan approvals, and flexible repayment terms make it an excellent choice for Filipinos needing fast access to funds. Borrowers should, however, be mindful of interest rates and repayment commitments to maintain financial health.