|Name of Organization||CASH MART|
|Full Name of Organization||CASH MART LTD|
CASH MART LTD - Product Features
|Min. financing amount||5000 php|
|Max. financing amount||30000 php|
|Max. financing amount||1 days|
|Approval duration||Average time from 2 to 12 hours|
Fees & Charges
|Debt consolidation||Information on debt consolidation is not listed on the site. You need to contact representatives of the organization through any source and clarify|
|Processing fee||One-time fee is not charged when making a loan|
|Stamp duty||Stamp duty is not provided in the organization|
|Annual fee||Annual fee ranges from 180% to 365% depending on the percentage under which you borrowed|
|Other fees||Other fees are not listed on the site. However, when applying for a loan, you can include insurance or any other services. For more information, you need to consult with representatives of the organization.|
|Early settlement||Early debt settlement does not charge you extra fees. For more information contact the credit organization.|
|Late payment charges||6% of overdue amount|
|Other penalties||Not provided|
|Need to bind a bank account||No|
|Other details||Payment on the loan occurs through a bank card|
CASHMART is a Singaporean company that specializes in microloans issuance. It was founded in 1969. The company cooperates with more than 50 Filipino and other international banks, including Bank of the Philippines Islands, Overseas Filipino Bank, Philippine Business Bank, Philippine National Bank and others. According to the company’s official website information, the number of Cash Mart clients exceeds 30 thousand people in the Philippines.
Working citizens of the Philippines between the ages of 21 and 50, who are residing within the country at the time of applying, can get a loan in CASH MART. It can be people both with permanent employment and self-employed. A separate category of people provided with loans by CashMart are Filipino seamen.
In order to get a loan, applicants need to provide any ID document. It can be driver’s license, postal ID, taxpayer identification number (TIN), Unified Multi-Purpose ID (UMID), weapon license. It is also necessary to provide a bank statement and a confirmation of the last mandatory payment (for water, Internet, tax payments, etc.). A Philippine citizen, who works as a seaman, must provide identity card, seaman’s passport, Seafarers Registration Certificate (SRC), Seafarers Overseas Employment Certificate (OEC), employment contract, approved by the Philippine Overseas Employment Administration (POEA), when applying for a loan. Seamen must also confirm their solvency by providing a bill for utilities or other services payment. A co-borrower is required for seamen when applying for a loan – this is an individual aged 21 or above, mainly the applicant’s relative, who has Philippine citizenship. The co-borrower must provide a proof of kinship with the seaman. It can be a birth certificate, if the loan is formalized by a parent, or a marriage contract, if the seaman’s spouse acts as a co-borrower.
The company offers the following types of loans: a consumer loan, a payday loan and a car loan. At the same time, the same conditions apply for all types of loans: the bank issues loans in the amount from 5 thousand up to 30 thousand pesos, at the interest rate from 0.8 up to 3.5%. The final interest rate is set depending on the loan schedule that the borrower chooses. Three options are available to repay a loan: repayment can be made weekly, every two weeks or once a month. A commission will be charged for each day of overdue. The Cashmart Asia Lending Inc. legal entity, operating under the CASH MART brand, was registered by the Philippine Securities and Exchange Commission in 2016, the license number is 1849. Regular loan repayments can be made through trade networks 7-11, LBC, Cebuana, Robinson Payment Center, etc.
How to take a loan in CASH MART?
- Fill in the application for a loan.
- Confirm the offer. The offer is signed by an SMS code sent to your Get the solution instantly!
- Transfer money to a bank account or card in one day!
Additional conditions for granting loans:
- the whole process through the Internet, without leaving home;
- for Filipino citizens who have reached the age of 21 (majority);
- the presence of a permanent registration in the territory of the Philippines;
Reasons for a loan denial:
- Poor credit score
- You are blacklisted, on debt review or had a judgement against your name
- You don’t have enough income for the loan you requestedd
- Poor track record of credit card or loan repayments