Cashalo

Cashalo provides mobile Android & iOS applications that can give its customers fast online loans and it will be easy for everyone from age 18. It is really secure and you can take a loan anytime you need 24/7.

Cashalo is a mobile lending platform organized by JG Summit and the Oriente tech firm. They bring new financial opportunities to millions of Filipinos.

Cashalo helps Filipinos to control their finances better and get needed salary loans on demand. The customers can use this money for any purpose they want, the main thing is to be responsible to give back this money timely.

Cashalo Loan App Philippines

In 2017 above 75% of the Philippine adult population remained unbanked, without access to financial companies. Also, over 90% were not covered by the credit bureau. These and many other reasons lead to the launch of Cashalo in October 2018, so fast pay-day loans become affordable for the whole adult population of the Philippines. Cashalo brand belongs to the Oriente Express Venture.

For now, if to check SimilarWeb, the Cashalo website is visited by over 485k users per month. So, the service has tremendous popularity among Filipinos. Of course, the competitors (Robocash, Cashwagon, etc) are not sleeping and continue to develop together with the others. Nevertheless, Cashalo grows rapidly. In addition, check, please, Google Trends, comparing the words: “Cashalo” and “Online loans” and you will see, that the popularity of this service is increasing.

How Does Cashalo Works

1. You need to download the Android or iOS Apps
2. Register in the App with the help of your mobile number
3. Then you need to provide your identity verification in 3 steps
4. After that choose the loan amount you are interested in with a duration period and repayment schedule, which will be eligible for you personally
5. If the answer is positive, money from Cashalo will be up to 30 minutes on your bank account

When Cashalo Android or iOS mobile application will be downloaded and installed, App will ask to scan your government ID and other important information, so the service could verify your identity. The loan can’t be issued for sure without it. So, in order to get one of the fastest loans in the Philippines, you will need to do it, it is a MUST. All information is secured, so it will not be shared without customers’ permission.

Cashalo mobile application will ask for the next permissions as well:

• Location access – it needs to verify the borrower’s address
• Contacts access – to nominate one
• Camera access – cause Cashalo needs to scan your IDs and face

Cashalo Philippines Terms

• Loan amount: 5000 PHP
• Loan duration: from 15 to 6 months with a repayment base
• Total amount payable: 5510 PHP
• Interest rate: 0,1983%
• Effective interest rate: 6,1139%
• Total interest: 310 PHP
• Processing fee: 200 PHP
• Penalty fee: –
• Daily interest rate after the due date: –
• The decision on your loan application takes usually several minutes. The borrower will find out about it from SMS and Email notifications.

Cashalo’s Interest Depends on the Following:

1. With larger sums, more borrowers will need to repay
2. Daily interest is constant: 0,1387%/day
3. Total interest is dynamic and depends on the loan duration: from 1,98% to 5,93%

Cashalo Requirements

• Valid government-issued ID
• Proof of billing/address
• Work information (work ID, recent payslip)
• Nominated bank account details

Repayment Process

There are several ways how to repay your loan with Cashalo:

• Robinsons Department Stores – fill out the payment slip and use 15 digit loan ID, then just go to a cashier for payment
• Dragonpay
• Online Banking (Robinsons Bank)
• 7-Eleven outlet: Bills payment/Cashalo/loan ID/confirm the details/go to a cashier
• ECPAY outlets: fill out the payment slip/Cashalo should be as the biller’s name/go to a cashier

How to pay Cashalo Loan

So, don’t forget about payments and it is recommended to pay before the due date for you to have additional time for the payment to proceed. If somehow the borrower paid the wrong sum, write about it to the support department hello[@]cashalo.com and send all the details with the proof of payment and loan ID.

Note: there are some transactions fees:

• RDS (Robinsons Department Store) = 12 Php
• ECPAY = 15 Php

Cashalo Products

Cashalo has several products with their own opportunities and terms:

• Cashaloan – you can take a quick online loan very easily up to 5000 Php in 30 minutes. Consumers can get the loan just with a valid ID.
• CASHAQUICK – if you need extra cash, just apply to Cashalo. It works offline to the online product. Customers can take a digital credit line for some shopping needs (household items, food, electronics, etc). It is possible across the retail network with over 250 partners, such as Memoxpress, Robinsons Department Stores, Oppo, etc.

You can take up to 1500 Php for a loan period of 14 days and interest rates are:

• Daily interest: 0,3316%
• Total Interest: 4,64%

To take a cash loan you need: to choose CashaQuick in the App /to choose a loan amount, period, etc / add personal information and get the cash approved in 30 minutes.

• CASHACART – you can take installment loans in Cashalo Apps easily and quickly with 0% interest and only for 10 minutes of approval
• To do this, you need to follow the next steps:

1. Visit Cashalo partner store
2. Go to the App / Cashacart / Apply
3. Enter the bill amount you need
4. Review and check all terms
5. Accept terms
6. Provide SMS verification
7. Wait for the approval for approximately 10 minutes
8. Simply go to the cashier when it is approved
9. Repay your loan during one’s period

Cashalo TAYO – is a referral program with the help of which you can earn 300 Php per every new user. For this you need

Cashalo Mobile Application

Cashalo Android App

Cashalo iOS App

Cashalo Contacts

• Any assistance: hello[@]cashalo.com
• Hiring: jobs[@]cashsalo.com
• Hotline: (02)4706888, working time from 9 AM to 8 PM/to 6 PM on weekends.

Is Cashalo Legal?

If you want to know whether Cashalo has or hasn’t have the appropriate permission to provide loans for Filipinos. SEC is responsible for it. SEC is the Securities and Exchange Commission in the Philippines.

• LENDING COMPANIES in the Philippines WITH CERTIFICATE OF AUTHORITY;
• FINANCING COMPANIES in the Philippines WITH CERTIFICATE OF AUTHORITY.

If you don’t find one in the list, please contact their support in order one provided all the needed documents for you.

Cashalo Security

On 18th February 2021, Cashalo’s IT Team discovered the incident concerning illegal access to one’s database archive. The system was put on offline mode and the company reported to the Philippines’ National Privacy Commission. In parallel team strengthened security measures, so everything was for sure ok.

This cyberattack or breach was discovered during regular monitoring. No customer accounts or passwords were not compromised, but some Cashalo customers’ personal information was hacked. All customers were notified directly via in-app notification and email with recommendations on how to protect their personal information.

As we see Cashalo is really open and reliable company, even in such a situation, cause they:

• report about the incident in all authorities;
• asap notify people about the situation and give them recommendations to how to improve one’s security;
• encryption system protected all data;
• Cashalo has regular protection measures, so they found an issue at once.

So, if you hesitate about Cashalo, no need, company keeps your personal information in save and very responsible concerning it. From their words: “it is the highest priority”.

If you want to protect your data additionally:

• change your existing account password to a new one and make it stronger;
• don’t open spam emails, click on unusual links, etc;
• Cashalo doesn’t ask for your confidential information, so be aware of it and don’t provide any ;

Cashalo Testimonials

If you already have had any experience or use Cashalo Apps, please share your feedback below cause it is very important for all customers.